Custom Procedure Packs (CPT) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Custom Procedure Packs Market
The custom procedure packs market size was valued at USD 7.28 billion in 2022, and the market is now projected to grow from USD 7.57 billion in 2023 to USD 10.36 billion by 2030, exhibiting a CAGR of 4.6% during the forecast period of 2023-2030.
The manufacture of materials was hampered by the raw material shortage during this period. This, in turn, disrupted the entire supply chain and hindered market expansion. The market for adhesive goods was also impacted by the decline in demand brought on by the construction and automobile industries. Government has put restrictions on social gatherings, events and moving out from home which make the people homesick. The nationwide lockdown also resulted in the partial or whole closure of component factories. Numerous companies are encountering hurdles due to covid pandemic as the outbreak situation has curtailed production and supply chain which has hindered the market switched to treating covid patients as priority over the other procedures which led the custom procedure packs market growth. Additionally, manpower shortages affected manufacturing plants and slowed production due to movement restrictions and lockdowns in several regions. Stopped providing on-site maintenance and installations market growth sputtered amid the pandemic.
Growing surgical procedures and increasing use of these products in surgeries to accelerate market development during forecast period. The growing number of surgical procedures and the use of these packs in those procedures are two of the market's most significant drivers. Ophthalmology, general surgery, and cardiovascular surgery are a few common surgical procedures. The number of surgeries is increasing due to the rising incidence of chronic illnesses and increased knowledge of surgical possibilities.
Key Players' major product launches are a featured trend propelling the custom procedure packs market growth during forecast period. The global market has been characterized in recent years by a greater emphasis on and initiative from major players in the development of revolutionary procedure products. Nowadays, sterile, efficient goods with state-of-the-art advancements are widely employed in surgical settings around the world. Drapes, swabs, sutures, blades, syringes, and other supplies are included in the packs. Each of these elements is unique to the procedure. These kits facilitate quicker clinical procedure setup and aid in surgical product cost management which drives the custom procedure packs market growth during forecast period. In a similar vein, other industry participants have stepped up their efforts to introduce sophisticated drapes, sutures, and other materials that can be utilized to customize these packs. Future market expansion is being driven by the rising demand for items made through custom procedures as well as new product introductions.
Comprehensive Analysis of Custom Procedure Packs Market
The custom procedure packs market and healthcare industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated by product and by end users. The Product Type segmentations include Anesthesia Packs, Cardiovascular Surgery Packs, Neurosurgery Packs, Ophthalmic Surgery Packs, Orthopedic Surgery Packs, and Other Procedure Packs, by End-user segmentations include Hospitals {Operating Room, Intensive Care Unit (ICU), Outpatient Department, and Others}, Clinics, Ambulatory Surgery Centers, and Others.
The North America region lead the custom procedure packs market by benefitting a market size of USD 3.31 billion in 2022 due to robust healthcare infrastructure and growing surgical procedures and increasing use of such products in surgeries and Key Players' major product launches.
The top players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These players include, Cardinal Health (U.S.), PAUL HARTMANN AG (Germany), Unisurge (U.K.), Mölnlycke Health Care AB (Sweden), Medline Industries, LP (U.S.), PrionTex (South Africa), Kimal (U.K.), O&M Halyard (U.S.), B. Braun SE (Germany) these market players provide a level-playing competitive landscape.
In February 2023, In order to showcase its custom procedure packs for interventional, non-vascular, HSG, drainage, embolization, catheter insertion, and neuroradiology procedures, Kimal announced its participation in the Pan Arab Interventional Radiology Society (PAIRS) Annual Congress, which will take place at the Grand Hyatt Hotel in Dubai.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2017-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2017-2021
Growth Rate CAGR of 4.6% from 2023-2030
Unit Value (USD billion)
Segmentation By Product Type
Anesthesia Packs
Cardiovascular Surgery Packs
Neurosurgery Packs
Ophthalmic Surgery Packs
Orthopedic Surgery Packs
Other Procedure Packs
By End-user
Hospitals
Operating Room
Intensive Care Unit (ICU)
Outpatient Department
Others
Clinics
Ambulatory Surgery Centers
Others
By Geography
North America (By Product Type, By End-user, and By Country)
U.S.
Canada
Europe (By Product Type, By End-user, and By Country/Sub-region)
Germany
U.K.
France
Italy
Spain
Scandinavia
Rest of Europe
Asia Pacific (By Product Type, By End-user, and By Country/Sub-region)
China
India
Japan
Australia
Southeast Asia
Rest of Asia Pacific
Latin America (By Product Type, By End-user, and By Country/Sub-region)
Brazil
Mexico
Rest of Latin America
Middle East and Africa (By Product Type, By End-user, and By Country/Sub-region)
GCC
South Africa
Rest of Middle East &Africa
Please Note: It will take 5-6 business days to complete the report upon order confirmation.