Emphasis on Product (Operating Room, Angiography, Ophthalmic, and Others); End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Others); Region/Country.
The procedure trays market is expected to grow at a strong CAGR of around 9% during the forecast period. The growing prevalence of chronic diseases, such as cancer, cardiovascular diseases, and diabetes, is driving the demand for surgical procedures. This, in turn, is increasing the demand for procedure trays, which are essential for the safe and efficient execution of surgical procedures. Apart from this, advancements in surgical technology have led to the development of new surgical instruments and equipment that require specialized trays. This has increased the demand for procedure trays that are designed to hold these new instruments and equipment. For instance, in May 2022, Whitney Medical solutions launched the isolation room solution, Iso Tray. The Iso-tray was designed to be disposable and act as a single-use procedure tray to reduce the risk of infection and cross-contamination during invasive clinical procedures.
Some of the major players operating in the market include Owens & Minor, Inc; Mölnlycke Health Care AB; Cardinal Health; BD; CPT Medical; Merit Medical Systems; Teleflex Incorporated; 3M; B. Braun SE; and Medica Europe BV.. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product, the angiography segment to grow with high CAGR during the forecast period”
Based on product, the market is segmented into operating room, angiography, ophthalmic, and others. The angiography segment is anticipated to grow with high CAGR during the forecast period as cardiovascular diseases are one of the major cause of morbidity and mortality around the world. According to the American Heart Association, cardiovascular diseases are the leading cause of death, accounting for 17.9 million deaths per year, and this number is expected to increase to over 23.6 million by 2030. The surge in the incidence of cardiovascular diseases and the availability of technologically advanced devices for use in surgeries are factors expected to fuel the growth of the angiography segment.
“Amongst end user, the hospitals category held a significant share of the market in 2021”
By end user, the market is categorized into hospitals, clinics, ambulatory surgical centers, and others. The hospitals held the dominant share of the market in 2021. To avoid hospital-associated infections, sterilized surgical supplies and equipment washing are essential. As a result, the utilization of procedure trays is heavily reliant upon the medical professionals and employees in operating rooms.
“APAC to grow with high CAGR during the forecast period”
APAC is expected to grow with the highest CAGR during the forecast period due to rising disposable income, the surge in the prevalence of chronic disease, rising research and development activities, and increasing awareness among individuals. Among these, China is expected to hold the largest market share during the forecast period, due to the increasing number of surgical procedures being performed in the country and the growing demand for minimally invasive procedures. According to a report by China’s National Health Commission, there were over 60 million surgeries performed in China in 2019. This represents a significant increase from previous years, and it is driven by factors such as the growing aging population, the increasing prevalence of chronic diseases, and the improving healthcare infrastructure in the country. India is also expected to experience significant growth during the forecast period, due to the rising focus on infection control and prevention and the increasing number of medical facilities in the country.
Procedure Trays Market Report Coverage
| Report Attribute | Details |
| Base year | 2021 |
| Forecast period | 2022-2028 |
| Growth momentum | Accelerate at a CAGR of 9% |
| Market size 2021 | USD 12 billion |
| Regional analysis | North America, Europe, APAC, Rest of the World |
| Major contributing region | Asia-Pacific is expected to grow at the highest CAGR during the forecasted period |
| Key countries covered | U.S., Canada, Germany, United Kingdom, Spain, Italy, France, China, Japan, and India |
| Companies profiled | Owens & Minor, Inc; Mölnlycke Health Care AB; Cardinal Health; BD; CPT Medical; Merit Medical Systems; Teleflex Incorporated; 3M; B. Braun SE; and Medica Europe BV |
| Report Scope | Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
| Segments Covered | By Product; By End User; By Region/Country |
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Procedure Trays Market
6. Procedure Trays Market Revenue (usd Bn), 2020-2028f
7. Market Insights By Product
8. Market Insights By End User
9. Market Insights By Region
10. Procedure Trays Market Dynamics
11. Procedure Trays Market Opportunities
12. Procedure Trays Market Trends
13. Demand And Supply-side Analysis
14. Value Chain Analysis
15. Competitive Scenario
16. Company Profiled
17. Disclaimer
Research Methodology for the Procedure Trays Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global procedure trays market were the three major steps undertaken to create and analyze the adoption of procedure trays in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global procedure trays market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the procedure trays market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the procedure trays market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product, and end user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the procedure trays market. Further, we conducted factor analysis using dependent and independent variables such as product, and end user of the procedure trays market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the procedure trays market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global procedure trays market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global procedure trays market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product and end user in the global procedure trays market.
The main objective of the Global Procedure Trays Market Study
The current & future market trends of the global procedure trays market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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