The Global procedure trays market was valued at $ 8.42 Billion in 2017 and is forecast to grow at a modest xx.6 % CAGR between 2018 and 2025, culminating in 2025 global sales of $ 13.5 Billion. Rising prevalence of chronic diseases, growing number of hospitals and ambulatory centers, increasing number of minimally invasive surgeries and technological advancement in procedure trays are some of the key drivers of this market
We are observing steep rise in cases of chronic disease in last few years and trend is going to continue. An aging population and changing societal behavior adding to this steady increase. According to WHO chronic disease prevalence is expected to rise by 57%. As per Center for Disease Control, seven of the top 10 causes of death in 2014 were chronic diseases. Two of these chronic diseases—heart disease and cancer—together accounted for nearly 46% of all deaths. This is leading to lot of surgeries and in return demand for procedure trays.
Adaptation of single-use trays in many hospitals is propelling the demand further. Even customized trays for different type of surgeries are creating more demand and speeding up the operating procedures. This in return to improving the overall efficiency.
“Optimal Price Point (OPP) for Global Procedure Trays Products”
Estimated Average Procedure trays product cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
Due to the wide array of products available in the market, pricing, positioning, and sales channel optimization play a vital role in the success of a product. On an average, in the GLOBAL, the procedure trays products are available at USD XXXX. However, the high-end products are available at much higher prices. The prices in emerging countries and developed countries vary significantly due to the difference in purchasing power and availability of latest products.
We have segmented the market based on the product types such as Angiography, Operating Room, Ophthalmology & Anaesthesia Room Procedure Trays. Angiography procedure trays are available as sterile or non-sterile trays and can be provided using customized components such as cannulas, surgical drapes, tubing, formed trays and equipment covers, to your specifications. Ophthalmic procedure trays provide reliable and efficient operating environment significantly reducing expenses. These trays make stocking and restocking quick. Save space and minimize waste due to compact packaging. Anesthesia procedure trays or apparatus comes with long rotating bobbin flow meter, top tray with monitoring system etc.
We have segmented the market based on hospitals, ambulatory centers and clinics. We are observing major usage and increase in adaptation within the hospital. Almost every leading hospital having these trays is in the process of upgrading with latest single use.
North America accounted for over xx% revenue share in 2017. The key reasons attributed to the high share include strong reimbursement framework, highly skilled medical professionals, technological advancements and government support for R&D and innovation in medical devices sector. Moreover, the presence of high-end hospital and ambulatory services and high emphasis on surgeries is expected to boost the usage rates over the forecast period.
Asia Pacific is expected to register the maximum CAGR of xx% from 2017 to 2025. The rapid increase in a number of chronic cases, growing healthcare expenditure and skill training, and improvement in reimbursement scenario are expected to favor the high market growth in the region.
Merger and Acquisition Insight
We are observing some unique merger and acquisition in this space. Medical Action Industries Inc. acquired AVID Medical, Inc. in 2010, a leading provider of custom procedure trays serving the healthcare industry. Further to that Owens & Minor, Inc. completed the acquisition of Medical Action Industries Inc effective October 1, 2014. Medline acquisition of Centurion Medical Products in 2017 boosting offerings around the Medline Erase BSI line access and dressing change bundles.
Top Players & Company Share
We have profiled major players in the market as Owens & Minor, Inc., Merit Medical Systems, Cardinal Health, Becton Dickinson and Company, Medline, Teleflex Incorporated, B. Braun Melsungen AG, 3M Healthcare. With recent development in technology, we are observing some unique new players into the market.
Global Procedure Trays Market by Product Types (Revenue, USD Million, 2014- 2025)
- Angiography Procedure Tray
- Operating Room Procedure Tray
- Ophthalmology Procedure Tray
- Anesthesia Room Procedure Tray
Global Procedure Trays Market by End-use (Revenue, USD Million, 2014- 2025)
- Ambulatory Centers
Global Procedure Trays Systems Regional Outlook (Revenue, USD Million, 2014- 2025)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa