The custom procedure packs (CPP) market studied was anticipated to grow with a CAGR of nearly 4.9%, during the forecast period. The major factors attributing to the growth of the CPP market are a rise in the global prevalence of chronic cardiovascular indications, accident and emergency cases demanding the surgical procedures necessitating the increasing geriatric population. For instance, according to the NIHR Global Health Research Unit on Global Surgery estimates published in 2019, about 313 million surgical procedures were performed globally each year and are expected to increase in the future fueling the growth of the custom procedure packs market in the forecast period.
Key Market Trends
Single-use Custom Procedure Packs Segment is Expected to Hold the Largest Market Share in the Custom Procedure Packs Market
The single-use custom procedure packs segment is expected to dominate the overall market owing to the safety concerns to avoid the infections and risk of cross-contamination to the surgical site during the surgical procedure. Also, a few factors that gained the attention of surgeons towards the single-use custom procedure packs are reduced clinical waste in the theatre, administration costs and eradication of errors in surgical setting up which fueled the segment and the global market revenue over the forecast period.
On the other hand, the market growth of reusable packs is anticipated to decline during the forecast period due to the prevalence of several cross-contamination cases associated with these packs in recent years and also, to avoid an increase in the unnecessary stocking of devices in the hospitals.
Based on the product segment, cosmetic procedure packs are anticipated to witness the highest market share due to a steep rise in the volume of cosmetic and plastic surgeries in the developed nations along with the reduction of lay-up times for surgical procedures.
North America Dominates the Market and Expected to do Same in the Forecast Period.
North America is expected to dominate the overall custom procedure packs market throughout the forecast period. The dominance is due to several factors such as a rise in the volume of hospital-associated chronic diseases, accidental cases and cosmetic surgeries in the region. The United States holds the largest market share due to well-established direct reimbursement policies, the availability of advanced healthcare infrastructure along with a huge target population and rapid adoption of minimally invasive surgical procedures also favored the market growth in this region. For instance, according to The American Society of Plastic Surgeons report for the year 2018, about 204,000 maxillofacial surgeries were recorded in the United States indicating the growth of the market share propelling the global custom procedure packs market revenue.
The custom procedure packs market is moderately competitive and consists of several major players. Few of the major players currently dominating the market are adopting various development strategies such as developing a website so that surgeons can order the custom procedure packs as per the requirement to enhance the surgical procedures and while others are increasing their salesforce through partnering with the distributors to consolidate their market position globally. Some of the companies which are currently dominating the market are PrionTex, Medline Industries, Inc, Molnlycke Health Care AB, Owens & Minor Inc, and Cardinal Health Inc.
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Table of Contents
1.2 Study Assumptions
1.3 Scope of the Study
4.2 Market Drivers
4.2.1 Increased Volume of Surgical Procedures and Rise in Development of Innovative Tools
4.2.2 Reduced Emergency Surgery Response Times, Inventory Costs and Clinical Waste of Hospitals
4.3 Market Restraints
4.3.1 Presence of Faulty and Unnecessary Devices along with the Procedure Packs
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.1 Single Use
5.2 By Product
5.2.1 Cardiovascular Surgery Packs
5.2.2 Cosmetic Surgery Packs
5.2.3 General Surgery Packs
5.2.4 Orthopedic Surgery Packs
5.3 By End User
5.3.3 Ambulatory Surgical Centers
5.4.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
5.4.5 South America
184.108.40.206 Rest of South America
6.1.2 Medline Industries, Inc
6.1.3 Molnlycke Health Care AB
6.1.4 Owens & Minor Inc
6.1.5 Cardinal Health Inc
6.1.6 B. Braun Melsungen AG
6.1.7 Unisurge International Ltd
6.1.9 Thermo Fisher Scientific Inc
6.1.10 Pennine Healthcare
A selection of companies mentioned in this report includes:
- Medline Industries, Inc
- Molnlycke Health Care AB
- Owens & Minor Inc
- Cardinal Health Inc
- B. Braun Melsungen AG
- Unisurge International Ltd
- Thermo Fisher Scientific Inc
- Pennine Healthcare