Global Minor Procedure Kits And Trays Market Forecast 2024-2033: Estimated Market Size And Growth Rate
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How Much Growth is Expected for the Minor Procedure Kits And Trays Market from 2024 to 2033?
The market for minor procedure kits and trays has seen significant growth in recent years. It’s projected to expand from a size of $6.33 billion in 2023 to $7.03 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 11.0%. Factors contributing to growth during the historic period included an increasing requirement for outpatient surgeries, the development of ambulatory surgical centers, heightened awareness of infection prevention, regulatory standards from government, and the impact of an aging population.
In the coming years, the market size for minor procedure kits and trays is forecasted to experience substantial expansion. It is estimated that by 2028, the market value will reach $10.72 billion, with a compound annual growth rate (CAGR) of 11.1%. This anticipated growth during the forecast period can be ascribed to factors such as the increase in healthcare spending, the surge in outpatient surgeries, heightened awareness about infection control, hospitals’ need for cost-effectiveness, and the expansion of ambulatory surgical centers. The forecast period will also see major trends like advancements in sterilization, adoption of RFID and QR code technology, introduction of single-use innovations, emergent compact and space-efficient designs, and a rising demand for customized kits.
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What Factors Are Encouraging Growth in the minor procedure kits and trays Market?
The increasing demand for minimally invasive procedures is likely to spur the growth of the minor procedure kits and trays market. These medical procedures offer smaller incisions and cause less tissue disruption compared to traditional surgery, targeting quicker recovery and lesser risk. As these offer benefits like shorter recovery periods, lower chance of complications, and better patient outcomes than conventional surgical methods, minimally invasive procedures are becoming more prevalent. These procedures are made more efficient by minor procedure kits and trays, which offer pre-packaged, sterile tools and supplies vital for effective and safe operations. For example, per data from the American Society of Plastic Surgeons published in September 2023, the US saw nearly 23,672,269 minimally invasive cosmetic surgeries in 2022, which rose by 7% to 25,442,640 surgeries in 2023. This underscores the growth-driving influence of the rising demand for minimally invasive procedures on the minor procedure kits and trays market.
Which Segments Play a Vital Role in the Minor Procedure Kits And Trays Market?
1) By Type: Disposable Type, Non-Disposable Type
2) By Material: Polypropylene, Polyethylene, Stainless Steel, Aluminum
3) By Procedure Type: Suturing, Wound Care, Biopsy, Injections, Minor Surgeries
4) By Sterility: Sterile, Non-Sterile
5) By Application: General Practice, Emergency Room, Urgent Care, Ambulatory Surgery, Home Care
What Trends Are Driving Change in the Minor Procedure Kits And Trays Market?
Leading firms in the minor procedure kits and trays market are shifting their focus towards the creation of innovative products, such as the incorporation of sustainable materials to mitigate plastic waste and carbon dioxide equivalent (CO2e) emissions during high-volume surgical procedures. Sustainable materials refer to resources that are manufactured, utilised, and disposed in a manner that significantly reduces their environmental footprint and ensures resource preservation for future generations. For example, in February 2023, NewGen Surgical Inc., an American medical devices and surgical products corporation, launched Bio-Based Surgical Compartment Trays. These trays are intended to substitute single-use plastics in surgery, giving an eco-friendly alternative that lessens plastic waste and CO2e emissions. Their importance is highlighted by their ability to substantially minimize environmental impact, particularly in widespread ophthalmology procedures, and their USDA BioPreferred Certification, reflecting their commitment towards sustainability.
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What Regions Are Contributing Significantly to the Growth of the Minor Procedure Kits And Trays Market?
North America was the largest region in the minor procedure kits and trays market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the minor procedure kits and trays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Minor Procedure Kits And Trays Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the minor procedure kits and trays market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Minor Procedure Kits And Trays Market Include
1. Minor Procedure Kits And Trays Market Executive Summary
2. Minor Procedure Kits And Trays Market Segments
3. Minor Procedure Kits And Trays Market Size And Template Market Growth Rate
4. Key Minor Procedure Kits And Trays Market Trends
5. Major Minor Procedure Kits And Trays Market Drivers
……
25. Key Mergers And Acquisitions In The Minor Procedure Kits And Trays Market
26. Top Minor Procedure Kits And Trays Companies
27. Minor Procedure Kits And Trays Market Opportunities And Strategies
28. Minor Procedure Kits And Trays Market, Conclusions And Recommendations
29. Appendix
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