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The Global Custom Procedure Trays and Packs Market, by Product Type (Ophthalmic Procedure Kits, Angiography Procedure Kits, Anesthesia Procedure Kits, Operating Room Procedure Kits, and Other Procedure Kits) and by End User (Hospitals, Clinics, Ambulatory Surgical Centers) was valued US$ 177.1 million in 2017 and is estimated to exhibit a CAGR of 6.2% over the forecast period (2018-2026).
Custom procedure trays and packs market is expected to witness significant growth over the forecast period. Custom procedure trays and packs have collaboration with healthcare providers and clinicians to ensure they deliver the right products, in the right place, at the right time. Moreover, procedure Packs aids in cost savings by allowing healthcare providers to work more efficiently and deliver more procedures in less time. For instance, the Royal Liverpool and Broadgreen University Hospitals were able to increase the number of knee operations they carried out by 47% in 2017.
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Furthermore, adoption of custom procedure packs and trays aids in reducing the time taken for staff to pick the equipment necessary and set up for a clinical procedure. For instance, a study carried out at the Day Surgery Unit, Kingston Hospital- NHS Hospital Trust Surrey, in 2015, found that using procedure packs in just three procedures would save over 65 hours or 8 working days a year.
Moreover, these aids healthcare providers to reduce their supply base and save time by cutting down the amount of time needed to be spent on monitoring, and ordering inventory, which further reduces the burden of administration.
The increasing number of expansion of custom procedure trays and packs product line by major market players through mergers and collaborations are expected to propel the market growth over the forecast period. For instance, in September, STS Medical Group, specialized in the manufacturing and distribution of medical devices and custom procedure trays designed and customized for surgical theatres, manufactures over 70,000,000 custom procedure trays components per year, which result in over 2,000,000 finished trays.
Moreover, STS Medical Group completed the merger between Salvamed and Texsan Medical, creating a new European hub of excellence producing disposable procedure kits for operating rooms, on November 14, 2016.
Browse 38 Market Data Tables and 33 Figures spread through 165 Pages and in-depth TOC on “Custom Procedure Trays and Packs Market, by Product Type (Ophthalmic Procedure Kits, Angiography Procedure Kits, Anaesthesia Procedure Kits, Operating Room Procedure Kits, Other Procedure Kits) and by End User (Hospitals, Clinics, Ambulatory Surgical Centers)- Global Forecast to 2026”
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Key takeaways of the Custom Procedure Trays and Packs Market:
- The global custom procedure trays and packs market is expected to exhibit a CAGR of 6.2% over the forecast period (2018-2026), attributed to increasing focus on infection control, economy, coupled with growing popularity of convenient-to-use products by healthcare providers
- Among end user, hospitals segment is expected to account for major market share, attributed to increasing adoption of custom procedure trays and packs for various surgeries and increasing purchasing power to procure these products.
- Key players operating in the global custom procedure trays and packs market include 3M, Smith Medical, B. Braun Melsungen AG, Becton, Dickinson and Company, Lohmann & Rauscher Inc., Medtronic Plc., Bausch & Lomb Incorporated., Cardinal Health, Kimal Plc., and Pennine Healthcare, among others.
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