Market Size of Global Procedure Trays Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Procedure Trays Market Analysis
The procedure trays market is expected to register a CAGR of 7.5% during the forecast period.
COVID-19 had a significant impact on the growth of the market during the pandemic period. This is due to the rising demand for medical procedure trays to perform surgeries and reduce the spread of infection. The study published in the National Library of Medicine in February 2022 stated that the surgical services were temporarily shut down during the initial COVID-19 surge, but the healthcare system continues to offer safe care for thoracic surgery patients, especially those with oncologic reasons. Additionally, according to the research study published in December 2021 by Avia S. Mattingly et al., in the United States, there was a 48.0% decrease in total surgical procedure volume immediately after the March 2020 recommendation to cancel elective surgical procedures. However, the number of surgeries increased after the initial decline during the pandemic, and it is expected that the studied market will bounce back to its full potential in the coming years.
The growth of the market is attributed to an increasing number of surgeries, a decrease in procurement time and costs, and favorable government regulations for the prevention and control of healthcare-associated infections. According to the OECD statistics updated in August 2022, the number of surgeries (in thousand) performed in some European countries such as Portugal, Denmark, Ireland, and Norway in 2021 include 94.87, 49.33, 32.84, and 21.5. Such a huge number of surgeries in developed European countries will lead to increased adoption of procedural trays during the surgeries, driving the growth of the procedure trays market over the forecast period.
Furthermore, the increasing healthcare expenditure along with investment in new hospitals and clinics along with the expansion of existing ones are expected to boost growth in the studied segment over the forecast period. For instance, in March 2021, the Ontario government, a Canadian province, invested USD 41.8 million in the new Grey Bruce Health Services Markdale Hospital for expansion and other activities like the purchase of instruments which is expected to have a positive impact on the growth, of the market. Thus, such increasing investments in hospitals are expected to increase the procedural capacity, which is expected to increase the market growth for procedural trays over the forecast period.
However, a lack of standardization is expected to restrain the growth of the market over the forecast period.
Procedure Trays Industry Segmentation
As per the scope of the report, procedure trays are the set of all tools and instruments which are being used in surgeries and diagnostic procedures. These trays contain several types of single-use instrument, which minimizes the time and make it convenient for the healthcare professional. The Procedure Trays Market is segmented by Product (Angiography, Operating Room, Ophthalmology), End User (Hospitals, Clinics and Ambulatory Surgical Centers), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Product | |
| Angiography | |
| Operating Room | |
| Ophthalmology | |
| Others |
| By End User | |
| Hospitals | |
| Clinics | |
| Ambulatory Surgical Centres |
| Geography | ||||||||
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Global Procedure Trays Market Size Summary
The procedure trays market is poised for significant growth, driven by an increasing number of surgeries and the rising demand for efficient, cost-effective medical solutions. The market's expansion is supported by favorable government regulations aimed at preventing healthcare-associated infections and the growing healthcare expenditure, which includes investments in new hospitals and the expansion of existing facilities. The COVID-19 pandemic initially disrupted surgical procedures, but the subsequent recovery and increase in surgeries have set the stage for the market to regain its momentum. The adoption of procedure trays is expected to rise, particularly in developed regions like Europe, where a substantial number of surgeries are performed annually. Additionally, the growing prevalence of chronic diseases, such as cardiovascular conditions, is contributing to the heightened demand for procedural trays, as these trays are essential for facilitating various surgical procedures.
North America is anticipated to hold a significant share of the global procedure trays market, bolstered by advancements in technology, increased research and development expenditure, and a preference for minimally invasive procedures. The region's market growth is further supported by substantial investments in healthcare infrastructure, aimed at enhancing public health readiness and addressing the backlog of surgeries caused by the pandemic. Similar trends are observed in other regions, such as Mexico, where government investments in healthcare infrastructure are expected to drive market growth. The market is moderately competitive, with major players like Mölnlycke Health Care, Becton, Dickinson, and Company, and Cardinal Health leading the charge. Innovations, such as the launch of disposable and single-use procedure trays, are also contributing to the market's evolution, addressing concerns related to infection control and cross-contamination during clinical procedures.
Global Procedure Trays Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Number of Surgeries
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1.2.2 Decrease in Procurement time and Costs
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1.3 Market Restraints
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1.3.1 Lack of Standardization
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1.4 Porter Five Forces
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product
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2.1.1 Angiography
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2.1.2 Operating Room
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2.1.3 Ophthalmology
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2.1.4 Others
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2.2 By End User
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2.2.1 Hospitals
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2.2.2 Clinics
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2.2.3 Ambulatory Surgical Centres
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Global Procedure Trays Market Size FAQs
What is the current Global Procedure Trays Market size?
The Global Procedure Trays Market is projected to register a CAGR of 7.5% during the forecast period (2024-2029)
Who are the key players in Global Procedure Trays Market?
Owens & Minor, Inc, Cardinal Health, Mölnlycke Health Care, Becton, Dickinson, and Company and CPT Medical, Inc are the major companies operating in the Global Procedure Trays Market.
