Market Size of Global Procedure Trays Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Procedure Trays Market Analysis
The procedure trays market is expected to register a CAGR of 7.5% during the forecast period.
COVID-19 had a significant impact on the growth of the market during the pandemic period. This is due to the rising demand for medical procedure trays to perform surgeries and reduce the spread of infection. The study published in the National Library of Medicine in February 2022 stated that the surgical services were temporarily shut down during the initial COVID-19 surge, but the healthcare system continues to offer safe care for thoracic surgery patients, especially those with oncologic reasons. Additionally, according to the research study published in December 2021 by Avia S. Mattingly et al., in the United States, there was a 48.0% decrease in total surgical procedure volume immediately after the March 2020 recommendation to cancel elective surgical procedures. However, the number of surgeries increased after the initial decline during the pandemic, and it is expected that the studied market will bounce back to its full potential in the coming years.
The growth of the market is attributed to an increasing number of surgeries, a decrease in procurement time and costs, and favorable government regulations for the prevention and control of healthcare-associated infections. According to the OECD statistics updated in August 2022, the number of surgeries (in thousand) performed in some European countries such as Portugal, Denmark, Ireland, and Norway in 2021 include 94.87, 49.33, 32.84, and 21.5. Such a huge number of surgeries in developed European countries will lead to increased adoption of procedural trays during the surgeries, driving the growth of the procedure trays market over the forecast period.
Furthermore, the increasing healthcare expenditure along with investment in new hospitals and clinics along with the expansion of existing ones are expected to boost growth in the studied segment over the forecast period. For instance, in March 2021, the Ontario government, a Canadian province, invested USD 41.8 million in the new Grey Bruce Health Services Markdale Hospital for expansion and other activities like the purchase of instruments which is expected to have a positive impact on the growth, of the market. Thus, such increasing investments in hospitals are expected to increase the procedural capacity, which is expected to increase the market growth for procedural trays over the forecast period.
However, a lack of standardization is expected to restrain the growth of the market over the forecast period.
