Procedure Trays Market Size, Share, Growth by 2030

In 2022, the procedure trays market was valued at approximately US$ 21,536.67 million and is projected to grow to around US$ 45,926.87 million by 2030, reflecting a compound annual growth rate (CAGR) of 9.9% from 2020 to 2030.

Procedure trays are widely favored due to their sterile nature. These trays are specifically designed to cater to the diverse needs of various medical procedures. The growth of the procedure trays market is significantly influenced by the increasing number of surgical interventions and the rise in medical tourism. Furthermore, the growing demand for tailored surgical trays is anticipated to further propel market expansion in the years ahead.

Common surgical procedures include cataract surgeries, cesarean sections, hip replacements, and angioplasties. The frequency of these surgeries is on the rise, particularly in regions experiencing a surge in chronic disease prevalence. The World Health Organization (WHO) reports that cesarean sections are becoming increasingly common globally, with over 21% of births now being delivered via this method. Projections indicate that this figure could rise to nearly 29% by 2030. Advances in surgical techniques, anesthesia, and critical care have led to a higher number of elderly patients undergoing surgical procedures. The US Census Bureau indicates that approximately 13% of the US population is aged 65 and older, a figure expected to increase to 20% by 2030. WHO estimates that the global geriatric population will reach 1.5 billion by 2050.

Data from the National Institutes of Health (NIH) reveals that around 20 million major surgeries are performed annually in Europe. Eurostat reported that in 2020, approximately 3.66 million cataract surgeries and about 1.12 million cesarean sections were conducted within the European Union (EU). The rate of cesarean sections across various EU member states ranged from 200 to 400 per 100,000 inhabitants in 2020. In Dubai, the Health Authority (DHA) noted that around 159,000 surgeries were performed in 2021, with the number of individuals seeking cosmetic procedures doubling from 223,507 in 2020 to 583,909 in 2022. Eurostat also highlighted that transluminal coronary angioplasties were most frequently performed in Croatia and Germany, averaging 462 and 384 procedures per 100,000 inhabitants, respectively, in 2020.

Numerous companies and research organizations in the procedure trays market are innovating and developing advanced technologies to broaden their product offerings and enhance their market presence. The increasing volume of surgical procedures, along with product approvals and strategic collaborations, are key factors contributing to the growth of the procedure trays market.

Recent developments in the procedure trays market include:

• In October 2019, 3M finalized the acquisition of Acelity, Inc. and its KCI subsidiaries globally from a consortium of funds advised by Apax Partners, along with affiliates of the Canada Pension Plan Investment Board (CPPIB) and the Public Sector Pension Investment Board (PSP Investments), for an enterprise value of approximately US$ 6.7 billion, which includes debt and other adjustments.
• In January 2022, ICU Medical Inc. acquired Smiths Medical from Smiths Group plc. This acquisition encompasses a range of products including syringes, ambulatory infusion devices, vascular access, and vital care products, creating a leading infusion therapy company with estimated combined revenues of around US$ 2.5 billion.

Insights on Procedure Trays Market by Application

The procedure trays market is categorized by application into angiography, ophthalmology, operating room, and others. In 2022, the operating room segment dominated the market share and is projected to exhibit the highest CAGR during the forecast period.

The operating room segment not only held the largest market share in 2022 but is also expected to experience the most rapid growth in the coming years. The proper arrangement and setup of surgical instruments are crucial for surgeons to perform operations effectively. Maintaining sterile conditions for surgical instruments is vital for ensuring patients' post-operative health. In operating rooms, surgical trays are tailored to provide specific instruments based on the surgical requirements, alleviating pressure on technical staff and facilitating smoother surgical procedures. Owens & Minor, Inc. offers custom procedure trays for a variety of surgeries, including general surgery, orthopedic procedures, plastic surgery, and cardiology/vascular procedures. Eurostat reported that in 2020, approximately 1.12 million cesarean procedures were performed in the EU, and around 294 individuals per 1,000 inhabitants underwent hip replacement surgeries in Germany. The increasing volume of surgeries conducted in operating rooms is driving the demand for procedure trays in these settings.

Insights on Procedure Trays Market by End User

Based on end users, the procedure trays market is divided into hospitals & clinics, ambulatory surgical centers, and others. The hospitals segment accounted for the largest market share in 2022 and is projected to register the highest CAGR during the forecast period.

Key sources utilized in the preparation of the report on the procedure trays market include the World Health Organization (WHO), the US Census Bureau, and the US National Library of Medicine.