North America Procedure Trays Market
No. of Pages: 71 | Report Code: BMIRE00029314 | Category: Life Sciences
No. of Pages: 71 | Report Code: BMIRE00029314 | Category: Life Sciences
Surgical departments face the issue when too many products are pulled for procedures that end up on the back table of the operating room (OR) suite—opened, unused, and thrown away. They need to bear the cost of discarded products and the labor cost of returning unopened items to inventory. This scenario leads to the wastage of both time and money. For instance, a US$ 50 worth waste through procedure trays per surgery can lead to a loss of US$ 250,000 annually for a surgery center that performs ~5,000 procedures yearly. Hospitals often have special requirements for treatment sets. Choices vary by doctor and even by theater staff. The growing variety of surgical procedures and preferences requires procuring a wide variety and quantity of supporting clinical products. Thus, surgical centers should focus on optimizing custom procedure trays to support quality outcomes while reducing waste, controlling costs, and improving workflows. Standardized and customized procedure trays can save time, eliminate waste, ensure right components are at hand for each procedure, and streamline workflows. Surgery centers focus on including customized procedure trays in their supply chains to manage costs. Customized procedure trays are cheaper than traditional trays and purchasing them in bulk may result in the efficient reduction of the total procurement and operational cost of procedures. In April 2020, Medline, a healthcare leader in the US, announced a collaboration with education and training partner HealthStream to provide healthcare workers with curated courses on the appropriate use of customized treatment trays and impart knowledge on infection control due to the COVID-19 outbreak. Thus, with the growing need for cost-effective products by hospitals and surgical centers, customized procedure trays are trending, thereby boosting the North America procedure trays market.
The presence of prominent market participants in the region is expected to help the region's growth. Moreover, an increasing aging population and the prevalence of chronic diseases, such as osteoporosis and heart-related problems, in the region, coupled with high awareness about healthcare and advanced surgical procedures, are likely to increase the demand for surgical procedures in North America. According to an article published by International Osteoporosis Foundation, 44 million people in America above the age of 50 will have osteoporosis by 2020. According to Regenexx, more than 7 million orthopedic surgeries were performed in 2021 in the US. According to the National Center for Health Statistics, more than 40 million surgeries are performed each year, and the number is expected to grow exponentially. Furthermore, according to the American Psychological Association, the geriatric population in the country is currently at 46 million and is supposed to double itself by 2060, which will increase the number of surgeries, coupled with advancements in technology, and drive the North America procedure trays market growth. According to the Canadian Institute of Information, in 2020–2021, 55,300 hip and 55,285 knee replacements were performed in Canada. Cataract surgery is one of the most performed surgeries in Canada and is expected to more than double in volume over the next 25 years. In Canada, joint replacement surgeries and cataract surgeries are on the rise, which is surging the demand for procedure trays. According to Statista, in 2022, the number of heart transplants performed in Mexico amounted to 42 procedures, up from the 26 interventions recorded the previous year. Thus, the increasing number of surgeries is surging the demand for procedure trays in the region.
The North America procedure trays market is segmented based on application, end user, and country.
Based on application, the North America procedure trays market is segmented into operating room, angiography, ophthalmology, and others. The operating room segment held the largest share in 2022.
By end user, the North America procedure trays market is segmented into hospitals & clinics, ambulatory surgical centers, and others. The hospitals & clinics segment held the largest share in 2022.
Based on country, the North America procedure trays market is segmented into the US, Canada, and Mexico. The US dominated the North America procedure trays market in 2022.
3M Co, BD, Biometrix, Cardinal Health Inc, ICU Medical Inc, Molnlycke Health Care AB, Nelipak Corporation, Owens & Minor Inc, and Teleflex Incorporated are some of the leading companies operating in the North America procedure trays market.
Strategic insights for the North America Procedure Trays provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 10,092.08 Million |
| Market Size by 2030 | US$ 21,865.78 Million |
| Global CAGR (2022 - 2030) | 10.1% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Application
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Procedure Trays refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
1. 3M Co
2. BD
3. Biometrix
4. Cardinal Health Inc
5. ICU Medical Inc
6. Molnlycke Health Care AB
7. Nelipak Corporation
8. Owens & Minor Inc
9. Teleflex Incorporated
The North America Procedure Trays Market is valued at US$ 10,092.08 Million in 2022, it is projected to reach US$ 21,865.78 Million by 2030.
As per our report North America Procedure Trays Market, the market size is valued at US$ 10,092.08 Million in 2022, projecting it to reach US$ 21,865.78 Million by 2030. This translates to a CAGR of approximately 10.1% during the forecast period.
The North America Procedure Trays Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Procedure Trays Market report:
The North America Procedure Trays Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Procedure Trays Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Procedure Trays Market value chain can benefit from the information contained in a comprehensive market report.
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