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Customized Procedure Trays Market 2022-2030 In-Depth Research on Dynamics, Applications & Emerging Growth Factors

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Healthcare Universities Offer Resources to Medical Staff amidst COVID-19 Outbreak

The COVID-19 (Coronavirus) public health emergency is encouraging companies in the customized procedure trays market to extend their resources to support frontline healthcare workers. For instance, on April 1 2020, the U.S. leader of medical supplies Medline, announced collaboration with education and training partner HealthStream in order to provide carefully-curated courses to the healthcare staff on appropriate utilization of customized procedure trays (CPT) and are imparting knowledge on infection control due to the onset of COVID-19. Such advancements are bolstering the growth for the customized procedure trays market, which is anticipated to reach a value of ~US$ 4 Bn by the end of 2027.

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Along with customized procedure trays, companies are educating healthcare workers on appropriate usage of personal protective equipment (PPE) by increasing the availability of curriculum and toolkits. As the number of COVID-19 patients continues to soar, leading healthcare universities and companies are increasing efforts to offer multiple resources across the continuum of care.

Companies Gain Expertise in End-to-end Supply Chain to Eliminate Third Party Costs

In order to improve quality and services associated with customized procedure trays, companies are gaining expertise in their end-to-end supply chain to optimize price of products. Such operational practices are providing cost efficiency to companies by eliminating third party costs. In the wake of the surging COVID-19 outbreak, manufacturers are focusing on efficient sterilization methods to prevent incidence of infections among healthcare practitioners and patients. As such, companies in the customized procedure trays market are innovating on operational performance to boost their credibility in the global landscape.

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Companies in the customized procedure trays market are focusing on identifying various O.R. (Operating Room) challenges, especially in the area of cardiac surgeries. As such, the revenue of cardiac surgery applications is anticipated for aggressive growth during the forecast period and is estimated to dictate the highest revenue among all applications in the market for customized procedure trays. As companies are growing increasingly aware that the O.R. in healthcare facilities is always under pressure to improve patient outcomes, stakeholders are leveraging their services, which is estimated to boost the growth of the market, predicted to expand at a CAGR of ~7% during the forecast period.

Insight-driven Procedural Packing Solutions Help Clinicians Meet Time Efficiency

The customized procedure trays market is consolidated where ~86% of the market is dominated by leading players. However, high prevalence of patient loss due to time-consuming equipment preparation pose as a hurdle for companies. Hence, companies are increasing their focus on insight-driver services to boost clinical numbers. For instance, Cardinal Health— one of the U.S. prominent medical products and services company, is relying on Presource®— their insight-driven procedural packaging services solution, to help clinicians meet operational efficiencies.

Insight-driven procedural packing product solutions are being highly publicized in the customized procedure trays market, owing to their time-efficiency and increased supply chain efficiencies. Manufacturers are increasing their production capabilities to boost the availability of innovative customized procedure trays with the help of crucial data and insight-driven services.

CPT Acquire Prominence in Ophthalmology Due to High Prevalence of Ongoing Cataract Surgeries

Apart from cardiac surgeries and orthopedic applications, manufacturers in the customized procedure trays market are unlocking revenue streams of  ophthalmology procedures. For instance, Lense Home— a company dealing with end-to-end ophthalmology field solution services is helping clinicians meet convenience and operational efficiency by catering to individual requirements of surgeons. Manufacturers are increasing the availability of sterile and single-to-use kits to help surgeons associated with ophthalmology procedures achieve time efficiency. As such, companies in the customized procedure trays market are increasing their production capacities in single-use products such as drapes, gloves, surgical gown, and the likes.

High prevalence of patients undergoing cataract and LASIK surgeries are generating incremental opportunities for companies in the market for customized procedure trays. They are adopting the project-based approach to establish efficient communication channels with the staff in hospitals. Thus, companies in the market for customized procedure trays are adopting innovative approaches to gain better understanding of a hospital’s working methods, leading to success in improving patient quality of life.

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Analysts’ Viewpoint

Since healthcare institutions are already pressed for time due to increasing number of COVID-19 patients being admitted for treatment, companies in the customized procedure trays market are increasing their production capacities to meet demanding needs. This is evident since manufacturers are producing single-use and reusable drapes, gloves, and surgical gowns to support frontline healthcare workers.

Insight-driven procedural packing solutions are overcoming the issue of fatalities due to time-consuming equipment preparation. Hence, companies should increase their research spending in data and insight-driven services that meet time-efficiency goals and boost clinical numbers. They are increasing efforts to build teams of experienced product specialists that deploy project-based approach to enhance patient care in healthcare institutions.

Customized Procedure Trays Market: Overview

The global customized procedure trays market was valued at ~US$ 2 Bn in 2018 and is projected to expand at a high CAGR from 2019 to 2027. Rise in prevalence of various chronic conditions such as orthopedic, gynecology, and cardiac; faster adoption of customized procedure trays, availability of various components, specific surgical sets available in the market, and presence of key players especially in developing countries are anticipated to propel the global customized procedure trays market.

Custom procedure tray offers a sterile package that can be assembled according to the user’s requirement. The package contains, as far as possible, disposable products required for each procedure. Trays can be tailor-made for each specialty so that the overall concept can be extended to an entire surgical unit. Adoption of customized procedure trays is rising due to the increase in the number of complex surgical procedures as a result of aging population; epidemics and infections are giving way to ischemic heart diseases, cancer, and trauma as leading causes of death, all of which require surgical interventions. Various customized procedure trays are available in the market, including anesthesia trays, general surgery trays, orthopedic trays available for hip and knee surgeries; cardiac trays, and neurology surgical trays.

According to a research, rise in prevalence of various chronic diseases is likely to increase the number of surgeries, which in turn would boost the demand for customized procedure trays. CVD accounts for 45% of all deaths in Europe and 37% of all deaths in the European Union. CVD is the leading cause of death in men in all but 12 countries in Europe and is the primary cause of death in women in all but two countries. Moreover, in 2017, coronary heart disease, the most common heart disease, accounted for 365,914 deaths in the U.S. Moreover, around 18.2 million adults aged 20 and older are estimated to be suffering from coronary heart disease. Prevalence of hip osteoarthritis was 26.28% in the U.K., 7.7% in Italy, 51.29% in Spain, 9.90% in the Netherlands, 4.2% in Denmark, and 3.8% in Sweden. This is expected to drive the customized procedure trays market in the region. According to research, in November 2019, prevalence of knee pain and knee osteoarthritis in Malaysia was 45.6%, around 31.5% in India, and 21.7% in China.

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Customized Procedure Trays Market: Segmentation

The global customized procedure trays market has been segmented based on application, end user, and region

In terms of application, the global customized procedure trays market has been classified into orthopedic, ophthalmology, general surgery, neurosurgery, cardiac surgery, gynecology, urology, ear, neck, and head, and others. The cardiac surgery segment accounted for the largest share of the global customized procedure trays market in 2018. The segment is projected to expand at a high CAGR during the forecast period. This is attributed to rise in number of coronary angioplasty and coronary artery bypass graft procedures and the need of lowering the turnaround time of these surgeries to accommodate more patients.

Based on end user, the global customized procedure trays market has been divided into hospitals, ambulatory surgical centers, and others. The hospitals segment dominated the global customized procedure trays market in 2018, owing to capacity of the hospitals to handle more interventions with limited resources and significant timesaving due to implementation of CPTs for surgical procedures.

Customized Procedure Trays Market: Regional Segmentation

In terms of region, the global customized procedure trays market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

North America dominated the global customized procedure trays market in 2018, owing to adoption of CPTs to reduce infections, rise in surgical procedures, and presence of key players such as Owens & Mirror, Medline Industries, and Molnlycke with strong distributor networks. The customized procedure trays market in North America and Europe is anticipated to grow at a faster pace than other regions during the forecast period. This is attributed to major players such as Biometrix, Owens & Minor, and Degania Medical offering customized procedure trays for cardiac surgery.

Europe is likely to account for the second largest share of the global customized procedure trays market in 2018 due to rise in prevalence of orthopedic & cardiovascular diseases in countries such as Germany, the U.K., and France. Moreover, presence of strong distribution channels, direct sales, and focus of key players operating in the customized procedure trays market on business expansion in Europe are projected to propel the market in the region in the near future. In May 2017, Molnlycke Health Care opened a new surgical tray factory in the Czech Republic and is one of its biggest-ever investments in Europe.

Customized Procedure Trays Market: Major Players

Key players operating in the global customized procedure trays market are established and domestic companies offering customized procedure trays across the globe. These include

  • 3M Healthcare
  • Paul Hartmann AG
  • B. Braun Melsungen AG
  • Becton
  • Dickinson and Company (BD)
  • Cardinal Health, Inc.
  • Lohmann & Rauscher International
  • Medline Industries
  • Medtronic plc
  • Merit Medical Systems,
  • Mölnlycke Health Care AB
  • Owens & Minor, Inc.
  • Pennine Healthcare

These players are focused on adopting organic and inorganic growth strategies to expand geographic presence, strengthen distribution network, and offer innovative products across the globe. Companies entering into merger & acquisition and collaborating with small and large players are likely to boost investments for development of customized procedure trays. The entry of domestic players is likely to create intense competition in the global customized procedure trays market.

Key Questions Answered in Customized Procedure Trays Market Report

  • What is the sales/revenue generated by the global customized procedure trays market across all the regions during the forecast period?
  • What are the key trends in the global customized procedure trays market?
  • What are the major drivers, restraints, and opportunities in the global market?
  • Which region is set to expand at the fastest CAGR during the forecast period?
  • Which segment will have the highest revenue globally in 2027 and which application segment will expand at the fastest CAGR during the forecast period?

Customized Procedure Trays Market – Segmentation

Application

  • Orthopedic
  • Hip
  • Knee
  • Others
  • Ophthalmology
  • General Surgery
  • Laparoscopy
  • Laparotomy
  • Others
  • Neurosurgery
  • Cardiac Surgery
  • Gynecology
  • Urology
  • Ear, Neck, and Head
  • Others

End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Others

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

TABLE OF CONTENT

1. Preface

1.1. Market Definition and Scope

1.2. Market Segmentation

1.3. Key Research Objectives

1.4. Research Highlights

2. Assumptions and Research Methodology

3. Executive Summary: Global Customized Procedure Trays Market

4. Market Overview

4.1. Introduction

4.1.1. Market Definition

4.1.2. Industry Evolution / Developments

4.2. Overview

4.3. Market Dynamics

4.3.1. Drivers

4.3.2. Restraints

4.3.3. Opportunities

4.4. Global Customized Procedure Trays Market Analysis and Forecast, 2017–2027

4.4.1. Market Revenue Projections (US$ Mn)

5. Key Insights

5.1. Disease Prevalence & Incidence Rate globally with Key countries

5.2. Information on number of surgeries performed (Annually)

5.3. Pricing Analysis

5.4. Information on Custom Procedure Trays (Adoption, supply chain, cost/quality)

5.5. Government Regulations

5.6. Custom Procedure Tray Used per Procedure

6. Global Customized Procedure Trays Market Analysis and Forecast, by Application

6.1. Introduction & Definition

6.2. Key Findings / Developments

6.3. Customized Procedure Trays Market Value Forecast, by Application, 2017–2027

6.3.1. Orthopedic

6.3.1.1. Hip

6.3.1.2. Knee

6.3.1.3. Others

6.3.2. Ophthalmology

6.3.3. General Surgery

6.3.3.1. Laparoscopy

6.3.3.2. Laparotomy

6.3.3.3. Others

6.3.4. Neurosurgery

6.3.5. Cardiac Surgery

6.3.6. Gynecology

6.3.7. Urology

6.3.8. Ear, Neck, and Head

6.3.9. Others

6.4. Market Attractiveness Analysis, by Application

7. Global Customized Procedure Trays Market Analysis and Forecast, by End-user

7.1. Introduction & Definition

7.2. Key Findings / Developments

7.3. Customized Procedure Trays Market Value Forecast, by End-user, 2017–2027

7.3.1. Hospitals

7.3.2. Ambulatory Surgical Centers

7.3.3. Others

7.4. Market Attractiveness Analysis, by End-user

8. Global Customized Procedure Trays Market Analysis and Forecast, by Region

8.1. Key Findings

8.2. Customized Procedure Trays Market Value Forecast, by Region

8.2.1. North America

8.2.2. Europe

8.2.3. Asia Pacific

8.2.4. Latin America

8.2.5. Middle East & Africa

8.3. Market Attractiveness Analysis, by Region

9. North America Customized Procedure Trays Market Analysis and Forecast

……

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