Published Date: 2019-06-19 | Pages: Ongoing | Tables: Ongoing | Report ID: 7271
Industry: Life Science
The global custom procedure trays and packs market is anticipated to grow at a considerable rate during the forecast period 2019-2025. The availability of a broad array of products with packages customized for different types of invasive and other medical procedures is expected to set the tone for impressive growth of the global market. Vendors are predicted to form partnerships to launch new technologies in the global market. In May 2019, Nelipak Healthcare Packaging, a US provider of custom thermoformed packaging products, entered into partnership with Canada’s Optel Group to introduce a new seal inspection technology for vacuum-formed trays.
Increasing Geriatric Population Requiring Surgical Procedures to Fuel Demand
● Adoption of products in the global custom procedure trays and packs market is foreseen to increase with the rise in the number of surgical procedures
● Demand for custom procedure trays and packs is foretold to see a rise as the number of geriatrics susceptible to chronic wounds affecting their mobility and general health increases
● Introduction of cost-effective and more efficient products is prophesied to bode well for the global custom procedure trays and packs market
Medline Acquired Constant Care Technology’s CareConnection in 2019
Medline Industries, a US-based global manufacturer and distributor of medical supplies, claims itself as a market leader for procedure trays. According to its official website, the company has nine pack assembly sites in different parts of the world that follow stringent quality assurance protocols. Its trained professionals ensure quality using 10 inspection points as they produce approximately 125,000 packs per day. In May 2019, the company acquired a software platform of Constant Care Technology, a leading US provider of medical device integration systems.
● Operating Room Procedure Kits
● Ophthalmic Procedure Kits
● Anesthesia Procedure Kits
● Angiography Procedure Kits
● Other Procedure Kits
By End User
● Ambulatory Surgical Centers
According to researchers, operating room procedure kits accounted for a larger share of the global custom procedure trays and packs market. Surgeries performed in operating rooms require sterile single-use surgical products that are usually included in custom procedure trays and packs. Among end users, hospitals are forecast to secure a substantial share of the global market because of their high purchasing power and large number of surgical procedures performed.
Regionally, North America is foretold to exhibit impressive growth in the global custom procedure trays and packs market due to the implementation of strong government initiatives to improve sterilization in healthcare facilities. On the other hand, Asia Pacific could rise at a telling CAGR in the global market.
Large Presence of Players to Make Competitive Landscape Fragmented
Some of the key players of the global custom procedure trays and packs market are 3M, Smith Medical, B. Braun Melsungen AG, Becton, Dickinson and Company, Pennine Healthcare, Lohmann & Rauscher Inc., Kimal Plc., Medtronic Plc., Cardinal Health, and Bausch & Lomb Incorporated. Considering the presence of a significant number of players in the global market, the vendor landscape is expected to show a highly fragmented nature. The global market could witness increasing merger and acquisition activities with several players anticipated to enter the industry.
Key Points to Remember for Global Market Players
● Increasing geriatric population and rising number of surgeries performed are anticipated to push the demand for custom procedure trays and packs
● The segment of operating room procedure kits is expected to collect a remarkable share of the global custom procedure trays and packs market
● Hospitals are predicted to create a massive demand for custom procedure trays and packs in the near future
● North America is prognosticated to take a commanding share of the global custom procedure trays and packs market
Research Procedure Used to Prepare the Report
QY Research used an exhaustive primary research procedure to gain valuable insights into future expectations and current situations of the global custom procedure trays and packs market. The researchers also performed primary research to validate data and findings in terms of reliability and accuracy. For secondary research, the analysts used case studies, findings of reference customers, demographic and economic data, government publications, independent investigations, and company publications and reports.
As part of quantitative analysis, value and volume forecasts of global and regional markets were estimated by the researchers. For qualitative analysis, the researchers analyzed regulatory scenarios, market opportunities, drivers, and restraints, technology landscape, industry trends, and other vital aspects.
NOTE - The analysis, thoughts, views, facts, and opinions expressed in this report are of the respective research analysts. QYR Consulting does not necessarily endorse it or it is also not essentially formal views of QYR Consulting.
Life sciences is a wide branch of study that is gradually becoming an integral industry to the global economics. QYR Consulting looks at the steady transformation of the life sciences industry and its impact on the subindustries such as medical care, pharmaceutical, and medical devices. Our team of esteemed analysts have put together reports to analyze the monumental changes life sciences is expected to bring in the overall healthcare industry. These reports identify the exact turning points for the industry and open up a platform for discussing its growth.
QYR Consulting brings to you a structured analysis of the technological advancements so far, vision of the players in the industry, and the strategies they are likely to use to make their mark. The reports dissect various components of the life sciences industry to scrutinize the influential factors. To help the readers make profitable business decisions, analysts have highlighted the lucrative investment areas and upcoming business opportunities.
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