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Custom Procedure Kits Market Size Worth $11.2 Billion By 2026: Grand View Research, Inc.
SAN FRANCISCO, Oct. 28, 2019 /PRNewswire/ - The global custom procedure kits market size is expected to reach USD 11.2 billion by 2026 at a CAGR of 10.8%, according to a new report by Grand View Research, Inc. Increasing demand for custom procedure kits to save time, and operate efficiently during surgeries is propelling the market growth.
Key suggestions from the report:
- Hospital segment accounted for the largest share in 2018 owing to the increasing number of hospital admission, as a result, medical emergencies and the availability of various surgical procedures that require dedicated surgical facilities.
- North America dominated the market with around 45.0% of the market share in 2018. The presence of local market players and various initiatives undertaken by the government to encourage the use of single-use medical supplies to prevent infections are some of the major factors in the region.
- The Asia Pacific region is projected to witness the fastest growth during the forecast period owing to the increasing patient population and government initiatives to improve healthcare infrastructure in this region
- Market players include Medline Industries, Teleflex Incorporated, Owens & Minor, Inc., Medtronic, Cardinal Health, McKesson Corporation, Smiths Medical, Terumo Cardiovascular Systems Corporation, Santex S.p.A., OneMed, and Mölnlycke Health Care
Read 100 page research report with ToC on "Custom Procedure Kits Market Size, Share & Trends Analysis By Product Type (Disposable, and Reusable), By Procedure (Orthopedic & Bariatric), By End-use (Hospitals, and ambulatory Surgical Centers), And Segment Forecasts, 2019 - 2026" at: https://www.grandviewresearch.com/industry-analysis/custom-procedure-kits-market
Custom procedure kits provide physicians and healthcare practitioners a single-use option to select required sterile surgical instruments and tools. Furthermore, the preconfigured and prepacked trays & kits eliminate the need to stock individual components in bulk. Hence, prepacked custom procedural solutions help improve the quality of services as they aid in efficient inventory management.
The disposable custom procedure kits market held the largest share in 2018. Due to the increasing incidence of infections, it is important to protect all medical equipment and personnel against the transmission of pathogens. This is particularly crucial in operating theatres, where infection control is a challenging task due to the continuous flow of staff and patients. Hence, there is a high demand for disposable products in the healthcare industry.
The ambulatory surgical centers' segment is anticipated to grow at the fastest CAGR over the forecast period. Growing disease burden coupled with the rapidly aging population is among the major factors driving the growing number of surgeries thereby propelling segment growth. Moreover, various government initiatives are being undertaken to spread awareness about the benefits of surgical treatments such as early mobilization of patients, shortened hospital stay, low risk of hospital-acquired infections, and rapid recovery are expected to propel market growth.
Grand View Research has segmented the global custom procedure kits market based on product type, procedure, end-use and region:
- Product Type Outlook (Revenue, USD Million, 2015 - 2026)
- Procedure Outlook (Revenue, USD Million, 2015 - 2026)
- Cardiac Surgery
- General Surgery
- End-use Outlook (Revenue, USD Million, 2015 - 2026)
- Ambulatory Surgical Centers
- Regional Outlook (Revenue, USD Million, 2015 - 2026)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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