Wilmington, Delaware, United States, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global custom procedure packs market was estimated to have acquired US$ 12.35 billion in 2021. It is anticipated to register a 4.3% CAGR from 2021 to 2031 and by 2031 the market is likely to gain US$ 19.66 billion.
Facilities is a key driver for the custom procedure packs market. Custom procedure packs, which contain pre-selected medical supplies and equipment needed for specific medical procedures, help hospitals and healthcare providers optimize their inventory management. These packs reduce the need for individual item procurement and inventory maintenance, thus cutting down on costs and minimizing waste.
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The streamlined approach also enhances workflow efficiency in healthcare settings, allowing medical staff to focus more on patient care and less on logistics. As healthcare providers seek ways to reduce operational expenses while maintaining high standards of care, the adoption of custom procedure packs becomes an attractive solution.
Key Findings of the Market Report
- The market for custom procedure packs has been divided into two segments based on how they are used: single-use and reusable.
- In 2021, the global market for custom procedure packs was led by the single use category in terms of revenue.
- In the near future, the market is anticipated to be driven by the widespread use of disposable or single-use bespoke surgical packs for medical procedures in developed nations including the United States, Germany, the United Kingdom, and Japan.
- During the projection period, the segment is expected to be driven by a surge in awareness of these convenient packs in developing countries.
Market Trends for Custom Procedure Packs
- In 2021, hospitals held a market share of about 48% of the global custom procedure packs market, based on end-user consumption. It is expected that the category will expand quickly in the near future.
- During the projected period, the segment is expected to be driven by an increase in the number of hospitals in emerging regions. During the forecast period, the hospitals segment is expected to experience growth due to the increasing tendency of hospitals in countries like India and China to begin utilizing medical reimbursement policies.
- The National Health and Family Planning Commission of China reports that since 2010, the amount of government funding provided to public hospitals has increased by 15.6% per year. Patients are receiving treatment in hospitals as a result of increased funding in public hospitals. The increasing need for these packs will boost the global market demand.
Global Market for Custom Procedure Packs: Regional Outlook
Various reasons are propelling the growth of the custom procedure packs market in different regions. These are:
- In 2021, North America accounted for a sizeable portion of the global market for custom procedure packs. The custom procedure packs market in the region is being driven by a strong healthcare infrastructure and an increase in the number of procedures. Due to the increase in surgeries among the region's sizably large elderly population, the Europe market is anticipated to grow at a high rate in terms of revenue over the forecast period.
- Increased government investment within the healthcare systems of nations like Mexico, Colombia, and South Africa, along with an increase in the number of hospitals, accidental cases, and awareness of the advantages of custom procedure packs during surgeries in Saudi Arabia and Qatar, are expected to boost the market in Latin America and Middle East & Africa.
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Global Custom Procedure Packs Market: Key Players
There are many competitors in the highly fragmented global market for custom procedure packs. Leading companies are implementing expansion tactics include joint ventures, mergers, partnerships, approvals, launches, and new product development. The following companies are well-known participants in the global custom procedure packs market:
- PrionTex
- Thermo Fisher Scientific, Inc.
- 3M Company
- Unisurge
- Medline Industries, Inc.
- Molnlycke Health Care AB
- Cardinal Healthcare
- B. Braun Melsungen AG
- Owens & Minor Inc.
- Stradis Healthcare
Few of key developments by the players in this market are:
| Company name | Key Development |
| PrionTex | A collaboration agreement was formed in 2021 between PrionTex, a prominent South African maker of customized procedure packs, and the Operation Healing Hands community to provide surgical procedure packs. |
| Pennine Healthcare | In 2022, Pennine Healthcare's Class I Sterile, Class IIa, and Procedure Packs received the Medical Devices Regulation (MDR) Certification. |
| Merit Medical Systems | The ReSolve Thoracostomy Tray, developed by Merit Medical Systems, was introduced in 2022. It includes all the supplies required to execute a thoracostomy, a minimally invasive surgery that spares patients from having to undergo an open surgical procedure to remove air or fluid from their chest. |
Global Custom Procedure Packs Market Segmentation
- Use
- Single Use
- Reusable
- Product
- Cardiovascular Surgery Packs
- Orthopedic Surgery Packs
- Neuro Surgery Packs
- Ophthalmology Surgery Packs
- Gynecology Surgery Packs
- General Surgery Packs
- Others (cosmetic surgery packs, urology surgery packs, etc.)
- End-user
- Hospitals
- Ambulatory Surgical Centers
- Others
- Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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