US and EU-5 Custom Procedure Tray Market, Forecast to 2024

Healthcare Systems Benefit from Standardization and Efficiency

Escalating healthcare costs and longer patient wait lists have put pressure on healthcare facilities to reduce operational expenses and increase efficiency. The operating room is one of the biggest cost (and revenue) centers for a healthcare facility: according to some studies, the operating room accounts for about 40% of expenses in a hospital and generates about 70% of the revenue. Use of custom procedure trays is one way to increase throughput and reduce costs.

In addition to reducing the time taken to set up instruments for a procedure, custom procedure trays prevent wastage. A custom procedure tray (also known as a custom procedure pack) is a pre-packaged set of all disposable medical items required for a major or minor surgical intervention. It is presented in a single, sterile box, wrap, or mold. They are most often used during major orthopedic and cardiovascular procedures, and for hemodialysis, antiseptic skin preparation, and angiography procedures.

About 40% of physicians in the United States report being engaged with supply cost management. Partnering with custom tray manufacturers to streamline the entire supply chain and manage inventory costs can reduce the amount of time that a hospital employee spends on these activities and bring about huge savings to a healthcare facility. Providing services around data analytics can help predict inventory demand. Custom procedure trays are more commonly used in the United States, but adoption is increasing in Europe. Large-volume surgery centers are among the main users. With many healthcare facilities being part of larger integrated delivery networks and provider networks, clinicians moving from one hospital to another within a network will want the same products available no matter where a procedure is performed.

This study provides an overview of the custom procedure trays market opportunity in terms of hard numbers, unmet needs, and game-changing strategies. The report provides 5-year forecasts for revenue and units as well as the market shares of top participants.