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DUBLIN, May 18, 2022 /PRNewswire/ — The "Prepackaged Medical Kits and Trays – Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com’s offering.
Global Prepackaged Medical Kits and Trays Market to Reach US$36.6 Billion by the Year 2026
The global market for Prepackaged Medical Kits and Trays estimated at US$26.8 Billion in the year 2022, is projected to reach a revised size of US$36.6 Billion by 2026, growing at a CAGR of 7.3% over the analysis period.
Growth in the market is spurred by growing adoption of less-invasive surgical procedures by healthcare practitioners and increase in medical procedures conducted at outpatient surgery centers. Growing infection control requirements and an aging population are the key growth drivers for prepackaged medical disposables including kits and trays.
In addition to moderate growth in standardized products, use of custom procedure trays is also witnessing an upward trend. The market is flooded with a vast range of products with customized packages for almost every type of invasive procedure. The pre-packaged medical kits and trays market is expected to witness an upswing post COVID-19 induced setback, primarily due to rise in surgical procedures and constant increase in the number of hospitals, particularly multi-specialty hospitals.
The other factors underpinning growth include rise in contagious diseases worldwide and the increasing adoption of precautionary measures to curb the spread of infection. Additionally, the market also stands to benefit from factors such as the soaring number of surgeries, laparoscopy and ENT procedures.
ENT Custom Trays, one of the segments analyzed in the report, is projected to grow at a 9.6% CAGR to reach US$7.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Laceration Kits segment is readjusted to a revised 8.8% CAGR for the next 7-year period. This segment currently accounts for a 14.3% share of the global Prepackaged Medical Kits and Trays market.
The U.S. Market is Estimated at $10.5 Billion in 2022, While China is Forecast to Reach $3.1 Billion by 2026
The Prepackaged Medical Kits and Trays market in the U.S. is estimated at US$10.5 Billion in the year 2022. The country currently accounts for a 39.2% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$3.1 Billion in the year 2026 trailing a CAGR of 9.1% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6% and 7.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.7% CAGR while Rest of European market (as defined in the study) will reach US$3 Billion by the end of the analysis period.
In these regional markets, procedure-specific disposable kits and trays are enjoying considerable growth, especially in the urology, general-use and blood gas kit and tray markets, as a result of increasing focus on infection control, economy (savings through less requirement of labor) as well as growing popularity of convenient-to-use products.
Another major factor responsible for market growth is the launch of safety devices in customized kits and trays. Demand for prepackaged, procedure-specific disposable products is also spurred by increasing need to reduce wastage, risk of communicable disease and the enforcement of stringent regulations for reducing blood borne infections.
IV Start Kits Segment to Reach $4.9 Billion by 2026
Given the high risk of cross contamination on a daily basis in healthcare facilities while administering IV, there is growing focus on using medical disposables. This is consequently driving focus on using single sterile IV start kits, which also saves considerable storage space, reduces waste and cuts down cost incurred on processing and packaging.
In the global IV Start Kits segment, USA, Canada, Japan, China and Europe will drive the 8.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.5 Billion will reach a projected size of US$4.6 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$287.7 Million by the year 2026.
What’s New for 2022?
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS (Total 189 Featured)
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/dbwkhw
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets
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