According to a new report published by UnivDatos Markets Insights, the procedure trays market was valued at USD 12 billion in 2021 & is expected to grow at a CAGR of 9% from 2022-2028. The analysis has been segmented into Product (Operating Room, Angiography, Ophthalmic, and Others); End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Others); Region/Country.
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The procedure trays market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the procedure trays market. The procedure trays market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the procedure trays market at the global and regional levels.
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Key Market Drivers
The market for procedure trays is driven by a number of factors, including the increasing prevalence of cardiovascular diseases worldwide, the aging population, and advances in medical technology. For instance, according to Centers for Disease Control and Prevention (CDC), cardiovascular diseases (CVDs) are the leading cause of death in the U.S., accounting for approximately 1 in every 3 deaths. In 2019, CVDs were responsible for 659,041 deaths in the U.S. Apart from this, an increase in the frequency of road accidents, an aging population, and increased healthcare spending in emerging economies are expected to increase the number of procedures performed during the projection period. Global healthcare spending is expected to exceed USD 25.00 trillion by 2040, according to the U.S. Census Bureau. Moreover, according to the WHO, the global population aged 60 and up will double by 2050 and reach 2.1 billion. Thus, the above-mentioned factors are driving the growth of the procedure trays market during the forecast period.
One major impact of the pandemic on the procedure trays market has been the cancellation or postponement of elective surgeries and procedures, as healthcare systems have prioritized resources for treating COVID-19 patients. This has led to a decrease in demand for procedure trays for certain types of surgeries, such as cosmetic procedures or joint replacements. On the other hand, demand for procedure trays for emergency surgeries, such as those related to COVID-19 complications, has increased.
· By product, the market is segmented into operating room, angiography, ophthalmic, and others. The operating room category held the dominant share of the market in 2021.
· By end user, the market is categorized into hospitals, clinics, ambulatory surgical centers, and others. The ambulatory surgical centers (ASC) is anticipated to grow with a high CAGR during the forecast period.
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Procedure Trays Market Geographical Segmentation Includes:
· North America (U.S., Canada, and the Rest of North America)
· Europe (Germany, UK, Spain, France, Italy, Rest of Europe)
· Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific)
· Rest of the World
North America held a dominant share of the market in 2021. Several factors such as rise in the prevalence of chronic diseases and the associated increase in surgical procedures, the presence of major players, growing research and development activities, and a rise in patient preference for minimally invasive surgeries are propelling the growth of the procedure trays market in the region. According to Centers for Disease Control and Prevention (CDC) data in July 2022, coronary heart disease is the most common type of heart disease, and approximately 20.1 million adults of age 20 and older have the disease in the U.S. Moreover, the Canadian government is also focusing on healthcare investments. For instance, In March 2022, the federal government introduced Bill C-17 in the House of Commons, providing USD 2 billion in additional healthcare funding to clear 700,000 surgeries and other medical procedures delayed by the Covid-19 pandemic and support thousands of additional surgeries.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the procedure trays market. The major players have been analyzed by using research methodologies such as Porter’s Five Forces Analysis for getting insight views on global competition.
Recent Developments:
· In 2020, healthcare products and services company SterilMed launched a line of customizable procedure trays that are designed to help healthcare providers reduce costs and streamline their supply chain management. The trays are available for a range of medical procedures and can be tailored to the specific needs of individual healthcare facilities.
· In 2019, healthcare services and products company Cardinal Health launched a line of procedure trays that are designed to help healthcare providers standardize their procedures, reduce waste, and improve patient outcomes. The trays are available for a range of medical procedures and can be customized to meet the needs of individual healthcare facilities.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the procedure trays market?
• Which factors are influencing the procedure trays market over the forecast period?
• What are the global challenges, threats, and risks in the procedure trays market?
• Which factors are propelling and restraining the procedure trays market?
• What are the demanding global regions of the procedure trays market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
• What are the descriptive profiles of key companies along with their SWOT analysis?
Table of Content:-
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
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