Procedure Trays Market Size, Share & Trends Analysis Report By Product (Operating Room, Angiography, Ophthalmic), By End Use (Hospitals, Clinics, & Other Facilities), By Region, And Segment Forecasts, 2023 - 2030

Procedure Trays Market Size, Share & Trends Analysis Report By Product (Operating Room, Angiography, Ophthalmic), By End Use (Hospitals, Clinics, & Other Facilities), By Region, And Segment Forecasts, 2023 - 2030

Procedure Trays Market Growth & Trends

The global procedure trays market size is expected to reach USD 4.65 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 11.2% from 2023 to 2030. The increasing prevalence of chronic disorders and the growing geriatric population are the key factors driving growth. According to the World Health Organization (WHO), by 2020, the prevalence of chronic illnesses was expected to increase by 57%. This factor is anticipated to spur market growth in the near future.

The worldwide healthcare industry has experienced a severe issue as a result of the COVID-19 pandemic. The SARS-CoV-2 pandemic has dramatically raised the demand for emergency supplies, medicine, and medical equipment, such as procedure trays and antiseptic products. In addition, the COVID-19 outbreak and the rising hospital admissions around the world have increased the demand for procedure trays significantly. As a result, the market has witnessed significant growth.

Technological advancements, such as single procedure trays with the capacity to accommodate more than six instruments, and their ability to provide the maximum level of protection to the instrumentation they hold, are anticipated to boost the market growth. For instance, in June 2018, Summit Medical, an Innovia Medical Company, has announced the availability of eight new InstruSafe Instrument Protection Trays built to suit the newest da Vinci Surgical System Instrumentation in conjunction with Intuitive Surgical, which is projected to drive market growth.

Procedure Trays Market Report Highlights

• Based on product, the operating room segment led the market and accounted for more than 55% share of the global revenue in 2022 and is expected to grow at a CAGR of 11.79% over the forecast period.
• Based on end user, the hospital segment dominated the market with around 50% revenue share in 2022. The majority of surgical procedures are performed at hospitals. As a cost-saving measure, the adoption of procedure trays will contribute to market growth
• Europe is expected to witness the fastest expansion at a CAGR of 12.9% during the forecast period, owing to the rising number of surgical procedures and growing geriatric population in this region

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