Procedure Trays Market Size, Share, Growth, and Industry Analysis by Type (Angiography Procedure Tray, Opthalmic Procedure Tray, Operating Room Procedure Tray, Anaesthesia Room Procedure Tray, Others), by Application (Hospitals, Clinics, Ambulatory Surgical Centres), Regional Insights and Forecast to 2031

Updated On: 29 April 2024

PROCEDURE TRAYS MARKET REPORT OVERVIEW

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The global procedure trays market size was USD 8282 million in 2019 and the market is projected to touch USD 12470 million by 2026, exhibiting a CAGR of 6.0% during the forecast period.

Procedure trays are known to be utilized in various hospital processes. These trays include various forms of disposable items required through a specific process. Procedure trays offers the consumer with several single-use components, thus the enhancing the accessibility of managing surgical interventions. Physicians and healthcare practitioners can utilize custom procedure trays to pick clean surgical instruments and tools for single use. The pre-configured and pre-packaged trays and kits minimize the requirement for a massive inventory of individual components. Several hospital procedures need the use of procedure trays. These trays hold a variety of disposable goods that are required during a process. Procedure trays provide the user with a variety of single-use components, making surgical intervention management more convenient.

Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 Impact:  Pandemic Hampered The Market Due To Unexpected Disruption In The Sector

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

COVID- 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

LATEST TRENDS

"Use Of Innovative Products To Boost The Market Growth"

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

PROCEDURE TRAYS MARKET SEGMENTATION

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• By Type Analysis

According to type, the market can be segmented into angiography procedure tray, opthalmic procedure tray, operating room procedure tray, anaesthesia room procedure tray, others

Operating room procedure tray will capture the maximum market share through forecast period.  

Angiography procedure tray - Angiography procedure trays typically contain sterile instruments and supplies used for angiography procedures, which involve the imaging of blood vessels.

Opthalmic procedure tray - Ophthalmic procedure trays are designed for eye-related procedures and surgeries. They include specialized instruments and materials used in eye surgeries and examinations. 

Operating room procedure tray- Operating room procedure trays are comprehensive trays used in surgical settings. They contain a wide range of sterile instruments and supplies needed for various surgical procedures.

Anaesthesia room procedure tray- Anesthesia room procedure trays are used in the preparation and administration of anesthesia during surgeries. They include items necessary for anesthesia induction and monitoring.

Others- These trays could be tailored for specific medical procedures or specialties

• By Application Analysis

According to application, the market can be segmented hospitals, clinics, ambulatory surgical centres

Procedure trays market players cover segment as hospitals will dominate the market share during forecast period.

Hospitals - Medical procedure trays used in hospitals are designed to cater to a wide range of medical procedures and surgeries performed in hospital settings. They are typically more comprehensive and versatile, as hospitals handle various medical specialties and complex surgeries.

Clinics - Medical procedure trays used in clinics are often tailored to specific medical specialties or outpatient procedures. They may be smaller and more specialized, focusing on procedures commonly performed in a clinic environment, such as minor surgeries or examinations.

Ambulatory surgical centres – Ambulatory surgical centres are healthcare facilities that provide same-day surgical procedures without the need for overnight hospitalization.

DRIVING FACTORS

"Increase In Number Of Surgeries To Boost The Market Growth"

The growing number of surgical involvements worldwide, obsessed by an aging population and increasing prevalence of chronic diseases is a significant driver for the procedure trays market. Development of new surgical procedures and devices has fuelled the number of surgeries.

"Technological Advancement and Innovation To Upsurge The Market"

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the procedure trays market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. Constant development are one of the trends in the market in variety of practices. 

RESTRAINING FACTOR

"High Cost To Hamper The Market Growth"

Trays are customized to meet the specific needs of each medical facility which can result in higher costs as compared to standard trays. Technical difficulties will reduce the industry revenue.

PROCEDURE TRAYS MARKET REGIONAL INSIGHTS

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"North America to Dominate the Region Due To Rising Prevalence Of Chronic Disease"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East and Africa.

North America is further expected to witness growth in the procedure trays market share. The region is dominating the market due to increasing adoption of advanced medical technologies and rising prevalence of chronic diseases in the region. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

KEY INDUSTRY PLAYERS

"Key Players Focus On Partnerships To Gain Competitive Advantage"

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger. The collective efforts of these major players expressively impact the competitive landscape and future path of the market.

List Of Market Players Profiled

• Baxter International (Switzerland)
• Boston Scientific Corp. (U.S.)
• Cardinal Health (U.S.)
• CareFusion Corp. (U.S.)
• Covidien AG (Switzerland)

INDUSTRIAL DEVELOPMENT

April 2022: Merit Medical System Inc launched the Resolve Thoracostomy tray. This tray contains all products needed for performing a thoracostomy, a minimally invasive technique that allows patients to avoid an open surgical procedure to drain fluids or air from the chest.

REPORT COVERAGE

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.