PUBLISHER: The Business Research Company | PRODUCT CODE: 1539731
PUBLISHER: The Business Research Company | PRODUCT CODE: 1539731
A medical device tray is a sterilized container used to organize and transport medical instruments, implants, or other medical devices during procedures. These trays, typically made of metal, plastic, or a combination, are designed to maintain sterility and facilitate efficient handling in healthcare settings. They play a crucial role in ensuring surgical tools and devices are readily accessible, organized, and sterile, thereby contributing to patient safety and procedural efficiency.
The primary types of medical device trays are sterilization trays and procedure trays. Sterilization trays are specially designed containers used to hold and organize medical instruments during the sterilization process. They are utilized in various applications, including surgical trays, diagnostic trays, and dental trays, and are used by different end users such as hospitals and clinics, ambulatory clinics, dental clinics, and surgical centers.
The medical device tray market research report is one of a series of new reports from The Business Research Company that provides medical device tray market statistics, including medical device tray industry global market size, regional shares, competitors with a medical device tray market share, detailed medical device tray market segments, market trends and opportunities, and any further data you may need to thrive in the medical device tray industry. This medical device tray market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The medical device tray market size has grown strongly in recent years. It will grow from $2.26 billion in 2023 to $2.39 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. Growth in the historic period can be attributed to advancements in medical technology, stricter regulatory standards and compliance, an increase in surgical procedures, the expansion of healthcare infrastructure, and a heightened focus on infection control.
The medical device tray market size is expected to see strong growth in the next few years. It will grow to $2.97 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. Growth in the forecast period can be attributed to the rising aging population, technological advancements, the increasing prevalence of chronic diseases, a rise in surgical procedures, and stringent sterilization standards. Major trends expected during this period include a growing demand for sterilization and infection control, advancements in tray materials, customization and personalization, integration of smart technologies, and the expansion of outpatient and ambulatory surgical centers.
The expansion of minimally invasive procedures is anticipated to drive the growth of the medical device tray market in the foreseeable future. Minimally invasive procedures involve medical or surgical interventions that require small incisions or no incisions at all. The increasing demand for these procedures is driven by their shorter recovery times, reduced risk of complications, and lower post-operative pain compared to traditional surgeries. Medical device trays play a crucial role in organizing and sterilizing the specialized instruments needed for minimally invasive procedures. They ensure efficient access to tools, thereby enhancing the precision and safety of these procedures. For example, in January 2024, Intuitive Surgical Inc., a US-based manufacturer of robotic products, reported a 12% increase in placements of their da Vinci surgical systems (robotic surgical systems utilizing minimally invasive techniques) in the fourth quarter of 2023 compared to 2022. Hence, the growth of minimally invasive procedures is fueling the expansion of the medical device tray market.
Leading companies in the medical tray market are increasingly focusing on developing innovative solutions, such as connected medical trays, to gain a competitive advantage. A connected medical tray integrates sensors, communication devices, and software to monitor, manage, and track surgical instruments and supplies in real time. For instance, in February 2024, Intech Medical, a France-based manufacturer of orthopedic medical devices, introduced Trackinbox, a customizable tray equipped with smart tracking solutions. This technology enables medical device manufacturers to monitor the location, usage, and sterilization status of their products across the supply chain. Intech's connected tray solution addresses the growing demand for improved visibility and efficiency in managing surgical instruments within the MedTech industry.
In April 2024, HealthpointCapital, LLC, a US-based private equity firm specializing in musculoskeletal healthcare, acquired a majority stake in SteriCUBE Holdings Inc. for an undisclosed sum. This acquisition allows HealthpointCapital to expand into innovative medical technology that meets critical healthcare needs, aligning with its core focus on musculoskeletal healthcare. SteriCUBE Holdings Inc. is a US-based company specializing in innovative medical device trays.
Major companies operating in the medical device tray market are Cardinal Health, Johnson & Johnson, Thermo Fisher Scientific Inc., Abbott Laboratories, 3M Company, Medtronic PLC, Fresenius Medical Care AG & Co. KGaA, Becton Dickinson and Company (BD), Stryker Corporation, Henry Schein Inc., Medline Industries, Inc., B. Braun Melsungen AG, Zimmer Biomet Holdings, Inc., Olympus Corporation, Smith & Nephew plc, Hologic Inc., Nipro Corporation, Cook Medical, Getinge AB, Teleflex Incorporated, KARL STORZ SE & Co. KG, Molnlycke Health Care AB, Integra LifeSciences, ConMed Corporation, Smiths Medical
North America was the largest region in the medical device tray market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical device tray market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the medical device tray market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The medical device tray market consists of sales of instrument trays, suture trays, implant trays, and sterilization trays. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Medical Device Tray Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on medical device tray market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for medical device tray ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The medical device tray market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.