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Procedure Trays Market

Procedure Trays Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026

Procedure trays are used in several hospital procedures. These trays contain different types of disposable products needed during a particular procedure. Procedure trays provides the user with various single-use components, thereby improving convenience of managing surgical interventions. The components in the procedure trays differ from procedure to procedure. Usage of these trays ensures reduced waste generation and more procedures in less time. Custom procedure trays are resourceful, as these provide health care professionals with all the sterile instruments, disposable products, and tools required for specific procedures. The use of pre-packed or custom procedure trays eliminates the requirement to stock individual components in bulk separately. Custom procedure trays or pre-packed procedure trays reduce the setup time, decrease patient wait time, and improve the overall efficiency of work and overall inventory management system.

Introduction of various rules and regulations in the past to implement better facilities, inventories and certain practices led to improved and efficient procedure and several healthcare services. For instance, in 2006, the U.S. implemented the Health Act, which makes it mandatory for health care establishments to implement certain practices to prevent and control infections associated with treatments. This has made the usage of custom procedure trays and other health care related equipment imperative in medical practices. These regulations further ensure increased emphasis on measures to control infections, thereby directly promoting the use of custom procedure trays to negate the chances of any form of infection. According to National Center for Health Statistics, in 2009, the number of inpatient surgeries performed in the U.S. was estimated to be 48 million. Additionally, rise in preference for minimally invasive surgeries across the globe has triggered the growth of the procedure trays market. Every year more patients are undergoing minimally invasive surgeries owing to lower associated risks compared to conventional surgeries. However, absence of standardization at a global level is anticipated to restrain the global procedure trays market in the next few years.

The global procedure trays market can be segmented based on product, end-user, and region. In terms of product, the market can be classified into angiography, operating room, ophthalmology, and others. Based on end-user, the global procedure trays market can be categorized into ambulatory surgical centers, hospitals, clinics, and other health care facilities.

In terms of region, the global procedure trays market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for major share of the global market in terms of revenue in 2017. High growth of the market in the region can be attributed to increase in the number minimally invasive surgeries, favorable reimbursement policies by governments, and surge in health care expenditure. Europe accounted for significant share of the global procedure trays market in terms of revenue in 2017. However, the market in Asia Pacific is expected to expand at a high CAGR during the forecast period. Increase in the number of surgical procedures (both invasive and minimally invasive), rise in medical tourism, availability of experienced health care professionals, and adoption of advanced technologies & devices in the region are expected to drive the procedure trays market during the forecast period. The market in Middle East & Africa and Latin America is projected to witness moderate growth during the forecast period. This can be attributed to improving health care services, favorable governmental regulations, and rise in health care expenditures.

Key players operating in the global procedure trays market include Mölnlycke Health Care AB, Owens & Minor, Inc., Merit Medical Systems, Cardinal Health, BD, Teleflex Incorporated., B. Braun Melsungen AG, 3M, Medline Industries, Inc., and Nelipak Healthcare.

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