The demand within the global custom procedure packs market is projected to increase at a respectable rate in the times to follow. The availability of medical aids and equipment across surgical stores and pharmacies has created fresh demand within the global market. The healthcare industry is laying immense emphasis on fostering quality and resilience in treatment. Besides, research lines to suggest the positive impact of using improved surgical aids on treatment outcomes have also bolstered demand for custom procedure packs. Over the course of the next decade, the healthcare industry could become a haven of investment for external entities, driving sales across the market.
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• Rising incidence of cancers and leukaemia has compelled the medical industry to conduct surgeries at a seamless pace. The need to conduct bone transplants and marrow transplants has necessitated the use of advanced surgical technologies. This is a key driver of demand within the global customer procedure packs market. The cost-effectiveness of using procedure packs over individual packs for surgeries has given a thrust to the growth of the global market.
• Rising incidence of road accidents and industrial mishaps has initiated the development of fresh standards across the medical and healthcare industries. This has also brought surgical aids and devices under the radar of scrutiny. The quest of surgeons to increase the success rate of operations has led them to adopt innovative methods. This trend is expected to propel sales across the global custom procedure packs market.
• Focus on sustainability and green management across the healthcare sector has created new avenues for growth across the global custom procedure packs market. Therefore, surgical gloves and aids made from recyclable materials have gained popularity across the healthcare sector. Considering this trend, it is safe to say that green management is creating new avenues for growth for the leading market vendors.
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Global Custom Procedure Packs Market - Snapshot
A custom procedure pack delivers a specific set of medical products in a single sterile tray format to hospitals or surgeons in order to perform a specific surgery. In terms of revenue, the global custom procedure packs market was valued at above US$ 10,000 Mn in 2018 and is anticipated to reach approximately US$ 15,000 Mn in 2027, expanding at a CAGR of 4.6% from 2019 to 2027. Rise in the number of surgical procedures and high demand for minimally invasive surgeries are key factors that are anticipated to propel the custom procedure packs market during the forecast period.
Rising globalization leads to the outbreak of several diseases, and some of them require surgery. According to the Annual Plastic Surgery Report by the American Society of Plastic Surgeons, there were almost 15.9 million surgical and minimally-invasive cosmetic procedures performed in the U.S, in 2015, a 2% increase over 2014. This increasing number of surgeries is fueling the demand for custom procedure packs. A large number of global manufacturers are adopting different promotional strategies, such as developing different custom website, through which hospitals or surgeons can design and order their own custom procedure packs as per their requirements and perform surgical procedures more effectively and smoothly. Such strategies not only save time for procedure but also help hospitals and other surgical centers avoid unnecessary stocking of devices in their repositories. These key developments are likely to augment the global custom procedure packs market in the near future. However, faulty devices that are available in the procedure packs are likely to restrain the global custom procedure packs during the forecast period.
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The global custom procedure market has been segmented based on use, product, end-user, and region. In terms of use, the single use segment is projected to dominate the market. In terms of product, the other segment, which includes cosmetic surgery packs, dental surgery packs, and urology surgery packs is projected to expand rapidly at a notable CAGR during the forecast period. According to American Academy of Implant Dentistry, more than 15 million people in the U.S. have crown and replacement and 3 million have implants. This number is rising by 500,000 every year. Based on end-user, the custom procedure packs market has been segregated into hospitals, ambulatory surgical centers, and others. The hospitals segment led the market, in terms of revenue, in 2018. It is anticipated to maintain its dominance of the market during the forecast period.
In terms of region, North America held a major share of the global custom procedure packs market in 2018. Robust healthcare infrastructure and a rise in the number of surgeries are propelling the market in North America. In terms of revenue, the market in Europe is projected to expand at a rapid pace during the forecast period, due to a rise in the number of surgeries in a significantly large geriatric population. Rise in hospitals, accidental cases, and awareness about the benefits of custom procedure packs in surgery in countries such as Saudi Arabia and Qatar, and increase in government investment in the healthcare system in countries such as Colombia, Mexico, and South Africa are likely to boost the market in Latin America and Middle East & Africa.
Key companies operating in the global custom procedure packs market that are profiled in the report include Medline Industries, Inc, Mölnlycke Health Care AB, Owens & Minor, Inc. Cardinal Health, B. Braun Melsungen AG, Unisurge, 3M, Thermo Fisher Scientific, Inc., and PrionTex.
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