North America Procedure Trays Market Forecast to 2030 - Regional Analysis - By Application (Operating Room, Angiography, Ophthalmology, and Others) and End User (Hospitals & Clinics, Ambulatory Surgical Centers, and Others)
The North America procedure trays market was valued at US$ 10,092.08 million in 2022 and is expected to reach US$ 21,865.78 million by 2030; it is estimated to grow at a CAGR of 10.1% from 2022 to 2030.
Escalating Demand for Customized Procedure Trays Fuels the North America Procedure Trays Market
Surgical departments face the issue when too many products are pulled for procedures that end up on the back table of the operating room (OR) suite—opened, unused, and thrown away. They need to bear the cost of discarded products and the labor cost of returning unopened items to inventory. This scenario leads to the wastage of both time and money. For instance, a US$ 50 worth waste through procedure trays per surgery can lead to a loss of US$ 250,000 annually for a surgery center that performs ~5,000 procedures yearly. Hospitals often have special requirements for treatment sets. Choices vary by doctor and even by theater staff. The growing variety of surgical procedures and preferences requires procuring a wide variety and quantity of supporting clinical products. Thus, surgical centers should focus on optimizing custom procedure trays to support quality outcomes while reducing waste, controlling costs, and improving workflows. Standardized and customized procedure trays can save time, eliminate waste, ensure right components are at hand for each procedure, and streamline workflows. Surgery centers focus on including customized procedure trays in their supply chains to manage costs. Customized procedure trays are cheaper than traditional trays and purchasing them in bulk may result in the efficient reduction of the total procurement and operational cost of procedures. In April 2020, Medline, a healthcare leader in the US, announced a collaboration with education and training partner HealthStream to provide healthcare workers with curated courses on the appropriate use of customized treatment trays and impart knowledge on infection control due to the COVID-19 outbreak. Thus, with the growing need for cost-effective products by hospitals and surgical centers, customized procedure trays are trending, thereby boosting the North America procedure trays market.
North America Procedure Trays Market Overview
The presence of prominent market participants in the region is expected to help the region's growth. Moreover, an increasing aging population and the prevalence of chronic diseases, such as osteoporosis and heart-related problems, in the region, coupled with high awareness about healthcare and advanced surgical procedures, are likely to increase the demand for surgical procedures in North America. According to an article published by International Osteoporosis Foundation, 44 million people in America above the age of 50 will have osteoporosis by 2020. According to Regenexx, more than 7 million orthopedic surgeries were performed in 2021 in the US. According to the National Center for Health Statistics, more than 40 million surgeries are performed each year, and the number is expected to grow exponentially. Furthermore, according to the American Psychological Association, the geriatric population in the country is currently at 46 million and is supposed to double itself by 2060, which will increase the number of surgeries, coupled with advancements in technology, and drive the North America procedure trays market growth. According to the Canadian Institute of Information, in 2020-2021, 55,300 hip and 55,285 knee replacements were performed in Canada. Cataract surgery is one of the most performed surgeries in Canada and is expected to more than double in volume over the next 25 years. In Canada, joint replacement surgeries and cataract surgeries are on the rise, which is surging the demand for procedure trays. According to Statista, in 2022, the number of heart transplants performed in Mexico amounted to 42 procedures, up from the 26 interventions recorded the previous year. Thus, the increasing number of surgeries is surging the demand for procedure trays in the region.
North America Procedure Trays Market Revenue and Forecast to 2030 (US$ Million)
North America Procedure Trays Market Segmentation
The North America procedure trays market is segmented based on application, end user, and country.
Based on application, the North America procedure trays market is segmented into operating room, angiography, ophthalmology, and others. The operating room segment held the largest share in 2022.
By end user, the North America procedure trays market is segmented into hospitals & clinics, ambulatory surgical centers, and others. The hospitals & clinics segment held the largest share in 2022.
Based on country, the North America procedure trays market is segmented into the US, Canada, and Mexico. The US dominated the North America procedure trays market in 2022.
3M Co, BD, Biometrix, Cardinal Health Inc, ICU Medical Inc, Molnlycke Health Care AB, Nelipak Corporation, Owens & Minor Inc, and Teleflex Incorporated are some of the leading companies operating in the North America procedure trays market.
Escalating Demand for Customized Procedure Trays Fuels the North America Procedure Trays Market
Surgical departments face the issue when too many products are pulled for procedures that end up on the back table of the operating room (OR) suite—opened, unused, and thrown away. They need to bear the cost of discarded products and the labor cost of returning unopened items to inventory. This scenario leads to the wastage of both time and money. For instance, a US$ 50 worth waste through procedure trays per surgery can lead to a loss of US$ 250,000 annually for a surgery center that performs ~5,000 procedures yearly. Hospitals often have special requirements for treatment sets. Choices vary by doctor and even by theater staff. The growing variety of surgical procedures and preferences requires procuring a wide variety and quantity of supporting clinical products. Thus, surgical centers should focus on optimizing custom procedure trays to support quality outcomes while reducing waste, controlling costs, and improving workflows. Standardized and customized procedure trays can save time, eliminate waste, ensure right components are at hand for each procedure, and streamline workflows. Surgery centers focus on including customized procedure trays in their supply chains to manage costs. Customized procedure trays are cheaper than traditional trays and purchasing them in bulk may result in the efficient reduction of the total procurement and operational cost of procedures. In April 2020, Medline, a healthcare leader in the US, announced a collaboration with education and training partner HealthStream to provide healthcare workers with curated courses on the appropriate use of customized treatment trays and impart knowledge on infection control due to the COVID-19 outbreak. Thus, with the growing need for cost-effective products by hospitals and surgical centers, customized procedure trays are trending, thereby boosting the North America procedure trays market.
North America Procedure Trays Market Overview
The presence of prominent market participants in the region is expected to help the region's growth. Moreover, an increasing aging population and the prevalence of chronic diseases, such as osteoporosis and heart-related problems, in the region, coupled with high awareness about healthcare and advanced surgical procedures, are likely to increase the demand for surgical procedures in North America. According to an article published by International Osteoporosis Foundation, 44 million people in America above the age of 50 will have osteoporosis by 2020. According to Regenexx, more than 7 million orthopedic surgeries were performed in 2021 in the US. According to the National Center for Health Statistics, more than 40 million surgeries are performed each year, and the number is expected to grow exponentially. Furthermore, according to the American Psychological Association, the geriatric population in the country is currently at 46 million and is supposed to double itself by 2060, which will increase the number of surgeries, coupled with advancements in technology, and drive the North America procedure trays market growth. According to the Canadian Institute of Information, in 2020-2021, 55,300 hip and 55,285 knee replacements were performed in Canada. Cataract surgery is one of the most performed surgeries in Canada and is expected to more than double in volume over the next 25 years. In Canada, joint replacement surgeries and cataract surgeries are on the rise, which is surging the demand for procedure trays. According to Statista, in 2022, the number of heart transplants performed in Mexico amounted to 42 procedures, up from the 26 interventions recorded the previous year. Thus, the increasing number of surgeries is surging the demand for procedure trays in the region.
North America Procedure Trays Market Revenue and Forecast to 2030 (US$ Million)
North America Procedure Trays Market Segmentation
The North America procedure trays market is segmented based on application, end user, and country.
Based on application, the North America procedure trays market is segmented into operating room, angiography, ophthalmology, and others. The operating room segment held the largest share in 2022.
By end user, the North America procedure trays market is segmented into hospitals & clinics, ambulatory surgical centers, and others. The hospitals & clinics segment held the largest share in 2022.
Based on country, the North America procedure trays market is segmented into the US, Canada, and Mexico. The US dominated the North America procedure trays market in 2022.
3M Co, BD, Biometrix, Cardinal Health Inc, ICU Medical Inc, Molnlycke Health Care AB, Nelipak Corporation, Owens & Minor Inc, and Teleflex Incorporated are some of the leading companies operating in the North America procedure trays market.
1. INTRODUCTION
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. EXECUTIVE SUMMARY
2.1 Key Insights
2.2 North America Procedure Trays Market, by Country (US$ Million)
3. RESEARCH METHODOLOGY
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. NORTH AMERICA PROCEDURE TRAYS MARKET LANDSCAPE
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in the Value Chain
5. NORTH AMERICA PROCEDURE TRAYS MARKET - KEY INDUSTRY DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Number of Surgical Procedures
5.1.2 Surge in Medical Tourism
5.2 Market Restraints
5.2.1 Concerns About Disposal and Standardization of Procedure Trays
5.3 Market Opportunities
5.3.1 Integration of Procedure Trays with Cloud Platform and Data Analytics
5.4 Future Trends
5.4.1 Escalating Demand for Customized Procedure Trays
5.5 Impact Analysis
6. PROCEDURE TRAYS MARKET - NORTH AMERICA MARKET ANALYSIS
6.1 North America Procedure Trays Market Revenue (US$ Mn), 2022 - 2030
7. NORTH AMERICA PROCEDURE TRAYS MARKET - REVENUE AND FORECAST TO 2030 - BY APPLICATION
7.1 Overview
7.2 North America Procedure Trays Market Revenue Share, by Application 2022 & 2030 (%)
7.3 Operating Room
7.3.1 Overview
7.3.2 Operating Room: North America Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
7.4 Angiography
7.4.1 Overview
7.4.2 Angiography: North America Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
7.5 Ophthalmology
7.5.1 Overview
7.5.2 Ophthalmology: North America Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: North America Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
8. NORTH AMERICA PROCEDURE TRAYS MARKET - REVENUE AND FORECAST TO 2030 - BY END USER
8.1 Overview
8.2 North America Procedure Trays Market Revenue Share, by End User 2022 & 2030 (%)
8.3 Hospitals & Clinics
8.3.1 Overview
8.3.2 Hospitals & Clinics: North America Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
8.4 Ambulatory Surgical Centers
8.4.1 Overview
8.4.2 Ambulatory Surgical Centers: North America Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: North America Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
9. NORTH AMERICA PROCEDURE TRAYS MARKET - REVENUE AND FORECAST TO 2030 - COUNTRY ANALYSIS
9.1 Overview
9.1.1 North America: North America Procedure Trays Market, by Country, 2022 & 2030 (%)
9.1.1.1 US: Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
9.1.1.1.1 US: Procedure Trays Market, by Application, 2020-2030 (US$ Million)
9.1.1.1.2 US: Procedure Trays Market, by End User, 2020-2030 (US$ Million)
9.1.1.2 Canada: Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
9.1.1.2.1 Canada: Procedure Trays Market, by Application, 2020-2030 (US$ Million)
9.1.1.2.2 Canada: Procedure Trays Market, by End User, 2020-2030 (US$ Million)
9.1.1.3 Mexico: Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
9.1.1.3.1 Mexico: Procedure Trays Market, by Application, 2020-2030 (US$ Million)
9.1.1.3.2 Mexico: Procedure Trays Market, by End User, 2020-2030 (US$ Million)
10. NORTH AMERICA PROCEDURE TRAYS MARKET-INDUSTRY LANDSCAPE
10.1 Overview
10.2 Growth Strategies in Global North America Procedure Trays Market (%)
10.3 Organic Developments
10.3.1 Overview
10.4 Inorganic Developments
10.4.1 Overview
11. COMPANY PROFILES
11.1 Biometrix
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 3M Co
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Financial Overview
11.2.4 SWOT Analysis
11.2.5 Key Developments
11.3 BD
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Owens & Minor Inc
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Molnlycke Health Care AB
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Nelipak Corporation
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Teleflex Incorporated
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Cardinal Health Inc
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 ICU Medical Inc
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
12. APPENDIX
12.1 About Us
12.2 Glossary of Terms
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. EXECUTIVE SUMMARY
2.1 Key Insights
2.2 North America Procedure Trays Market, by Country (US$ Million)
3. RESEARCH METHODOLOGY
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. NORTH AMERICA PROCEDURE TRAYS MARKET LANDSCAPE
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in the Value Chain
5. NORTH AMERICA PROCEDURE TRAYS MARKET - KEY INDUSTRY DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Number of Surgical Procedures
5.1.2 Surge in Medical Tourism
5.2 Market Restraints
5.2.1 Concerns About Disposal and Standardization of Procedure Trays
5.3 Market Opportunities
5.3.1 Integration of Procedure Trays with Cloud Platform and Data Analytics
5.4 Future Trends
5.4.1 Escalating Demand for Customized Procedure Trays
5.5 Impact Analysis
6. PROCEDURE TRAYS MARKET - NORTH AMERICA MARKET ANALYSIS
6.1 North America Procedure Trays Market Revenue (US$ Mn), 2022 - 2030
7. NORTH AMERICA PROCEDURE TRAYS MARKET - REVENUE AND FORECAST TO 2030 - BY APPLICATION
7.1 Overview
7.2 North America Procedure Trays Market Revenue Share, by Application 2022 & 2030 (%)
7.3 Operating Room
7.3.1 Overview
7.3.2 Operating Room: North America Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
7.4 Angiography
7.4.1 Overview
7.4.2 Angiography: North America Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
7.5 Ophthalmology
7.5.1 Overview
7.5.2 Ophthalmology: North America Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: North America Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
8. NORTH AMERICA PROCEDURE TRAYS MARKET - REVENUE AND FORECAST TO 2030 - BY END USER
8.1 Overview
8.2 North America Procedure Trays Market Revenue Share, by End User 2022 & 2030 (%)
8.3 Hospitals & Clinics
8.3.1 Overview
8.3.2 Hospitals & Clinics: North America Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
8.4 Ambulatory Surgical Centers
8.4.1 Overview
8.4.2 Ambulatory Surgical Centers: North America Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: North America Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
9. NORTH AMERICA PROCEDURE TRAYS MARKET - REVENUE AND FORECAST TO 2030 - COUNTRY ANALYSIS
9.1 Overview
9.1.1 North America: North America Procedure Trays Market, by Country, 2022 & 2030 (%)
9.1.1.1 US: Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
9.1.1.1.1 US: Procedure Trays Market, by Application, 2020-2030 (US$ Million)
9.1.1.1.2 US: Procedure Trays Market, by End User, 2020-2030 (US$ Million)
9.1.1.2 Canada: Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
9.1.1.2.1 Canada: Procedure Trays Market, by Application, 2020-2030 (US$ Million)
9.1.1.2.2 Canada: Procedure Trays Market, by End User, 2020-2030 (US$ Million)
9.1.1.3 Mexico: Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
9.1.1.3.1 Mexico: Procedure Trays Market, by Application, 2020-2030 (US$ Million)
9.1.1.3.2 Mexico: Procedure Trays Market, by End User, 2020-2030 (US$ Million)
10. NORTH AMERICA PROCEDURE TRAYS MARKET-INDUSTRY LANDSCAPE
10.1 Overview
10.2 Growth Strategies in Global North America Procedure Trays Market (%)
10.3 Organic Developments
10.3.1 Overview
10.4 Inorganic Developments
10.4.1 Overview
11. COMPANY PROFILES
11.1 Biometrix
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 3M Co
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Financial Overview
11.2.4 SWOT Analysis
11.2.5 Key Developments
11.3 BD
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Owens & Minor Inc
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Molnlycke Health Care AB
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Nelipak Corporation
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Teleflex Incorporated
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Cardinal Health Inc
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 ICU Medical Inc
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
12. APPENDIX
12.1 About Us
12.2 Glossary of Terms
