Procedure Trays Market Size, Growth Analysis, Industry Forecast 2024-2033

A procedure tray, or an instrument tray, is a pre-assembled collection of medical instruments and supplies designed to facilitate specific medical procedures. These trays are commonly used in various healthcare settings to ensure that all necessary tools are readily available and organized for efficient and effective patient care.

Sizing and Forecast

The procedure trays market size has grown strongly in recent years. It will grow from $16.00 billion in 2023 to $17.43 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%.  The growth in the historic period can be attributed to standardization, frequency of road accidents, rise in demand for surgical instruments, increased adoption of procedure trays, and increased incidence of chronic diseases.

The procedure trays market size is expected to see strong growth in the next few years. It will grow to $24.84 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%.  The growth in the forecast period can be attributed to increasing number of surgical procedures, expansion of the global population, regulatory compliance, and customization, surge in medical tourism, growing elderly population. Major trends in the forecast period include advancements in smart technology, personalized and specialty trays, integration of technology, integration with telehealth and remote monitoring, and artificial intelligence and automation.

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Segmentation & Regional Insights

The procedure trays market covered in this report is segmented –

1) By Product: Operating Room, Angiography, Ophthalmic, Other Products

2) By Packaging: Box, Mold, Wrap

3) By End User: Hospitals, Clinics, Other Facilities

North America was the largest region in the procedure trays market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the procedure trays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth

The increasing number of surgical procedures is expected to propel the growth of the procedure trays market going forward. Surgical procedures are medical interventions or treatments that involve invasive techniques to address or correct health conditions, injuries, or abnormalities within the body. Surgical procedures are increasing due to advancements in medical technology, an aging population, the prevalence of chronic diseases, improved access to healthcare, and patient demand and expectations. Procedure trays enhance surgical procedures' efficiency, safety, and cost-effectiveness by providing a standardized and convenient solution for organizing and delivering the necessary instruments and supplies. For instance, in January 2023, according to a report published by the International Society of Aesthetic Plastic Surgery (ISAPS), a US-based professional non-governmental organization, in 2021, there was a 19.3% increase in total medical procedures, with surgical procedures experiencing an 18.5% rise and non-surgical procedures seeing growth of 19.9% compared to 2020. Therefore, the Increasing number of surgical procedures is driving the growth of the procedure trays market.

Key Industry Players

Major companies operating in the procedure trays market are Cardinal Health Inc., Becton Dickinson and Company , Baxter International Inc., Boston Scientific Corporation, Owens & Minor Inc., Medline Industries LP, B. Braun Societas Europaea, Smith & Nephew Public Limited Company, Teleflex Incorporated, Paul Hartmann AG, ICU Medical Inc., Mölnlycke AB, Lohmann & Rauscher, Merit Medical Systems Inc., Hogy Medical Company Limited, Medical Action Industries Inc., Kimal PLC, Nelipak Corporation, Medica Europe Besloten Vennootschap, Biometrix Medical, ArcRoyal, Covidien Aktiengesellschaft , CPT Medical Inc., C. R. Bard Inc. , CareFusion Corporation

The procedure trays market report table of contents includes:

1. Executive Summary

2. Procedure Trays Market Characteristics

3. Procedure Trays Market Trends And Strategies

4. Procedure Trays Market - Macro Economic Scenario

5. Global Procedure Trays Market Size and Growth

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33. Global Procedure Trays Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Procedure Trays Market

35. Procedure Trays Market Future Outlook and Potential Analysis

36. Appendix

List Of Tables:

Table 1: Global Historic Market Growth, 2018-2023, $ Billion

Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Table 3: Global Procedure Trays Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 4: Global Procedure Trays Market, Segmentation By Packaging, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 5: Global Procedure Trays Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

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Table 74: Cardinal Health Inc. Financial Performance

Table 75: Becton Dickinson and Company Financial Performance

Table 76: Baxter International Inc. Financial Performance

Table 77: Boston Scientific Corporation Financial Performance

Table 78: Owens & Minor Inc. Financial Performance

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