Enjoy complimentary customisation on priority with our Enterprise License!
The custom procedure packs market share is expected to increase by USD 2.11 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.73%.
This custom procedure packs market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers custom procedure packs market segmentation by type (single use and reusable) and geography (North America, Asia, Europe, and Rest of World (ROW)). The custom procedure packs market report also offers information on several market vendors, including 3M Co., B Braun Melsungen AG, Cardinal Health Inc., Hubei Medlink Healthcare Co. Ltd., Kimal Group, Med-italia Biomedica Srl, Medline Industries Inc., Medtronic Plc, Molnlycke Health Care AB, Multigate Medical Products Pty Ltd., Owens and Minor Inc., Priontex, Thermo Fisher Scientific Inc., and Unisurge International Ltd among others.
Download the Free Report Sample to Unlock the Custom Procedure Packs Market Size for the Forecast Period and Other Important Statistics
The growing need for surgical procedures is notably driving the custom procedure packs market growth, although factors such as the high cost of healthcare may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the custom procedure packs industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Custom Procedure Packs Market Driver
The growing need for surgical procedures is one of the key drivers supporting the custom procedure packs market growth. The growing prevalence of chronic diseases can be attributed to the changes in lifestyles and eating habits. Meanwhile, burns are long-term injuries and are a challenging clinical issue. The treatment for burns includes skin transplantation and using skin substitutes. According to the World Health Organization (WHO), between 2015-2019, around 550,000 people globally died due to fire, heat, and hot substances. Around 37 million people were disabled and required medical treatment. These factors are likely to boost the demand for custom procedure packs for cosmetic surgeries during the forecast period. Thus, the growing need for surgical procedures will positively impact the growth of the global custom procedure packs market during the forecast period.
Key Custom Procedure Packs Market Trend
The growing number of ambulatory surgery centers (ASCs) is another factor supporting the custom procedure packs market growth. For instance, in March 2020, the Centers for Medicare and Medicaid Services (CMS) announced the Hospitals Without Walls program, which allowed hospitals to provide services beyond their premises. As per the program, ASCs have a prominent role in assisting hospitals through contracting or leasing their space to local healthcare centers. Thus, surgeries were conducted in these ambulatory settings to reduce the load on hospitals and other healthcare centers. As the number of surgeries performed in ASCs increases, the demand for custom procedure packs from ASCs is likely to increase during the forecast period. These market trends will positively impact the global custom procedure packs market during the forecast period.
Key Custom Procedure Packs Market Challenge
The high cost of healthcare is one of the factors hindering the custom procedure packs market growth. For instance, in 2019, the per capita healthcare expenditure was $7,138 in Switzerland, $6,748 in Norway, and $6,731 in Germany. The high cost of healthcare in these developed countries prevents patients from opting for surgical treatment options for cardiovascular diseases, bone-related diseases, diabetes, obesity, and cancer. Additionally, in developing countries such as India, China, Brazil, and Argentina, patients cannot avail themselves of surgical treatment due to a lack of resources and low per capita income. The absence of proper healthcare infrastructure and less amount of government aid received in the form of medical expense reimbursement further poses a challenge for the patients in these countries. Thus, such factors will negatively impact the growth of the global custom procedure packs market during the forecast period.
This custom procedure packs market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global custom procedure packs market as a part of the global healthcare supplies market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the custom procedure packs market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the custom procedure packs market encompasses successful business strategies deployed by the key vendors. The custom procedure packs market is fragmented and the vendors are deploying growth strategies such as investing in developing customized solutions to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The custom procedure packs market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the custom procedure packs market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
For more insights on the market share of various regions Request for a FREE sample now!
39% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for custom procedure packs market in North America. Market growth in this region will be slower than the growth of the market in Asia.
The growing healthcare sector in the region will facilitate the custom procedure packs market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic negatively impacted the custom procedure packs market in the region. However, in H2 2021, the number of COVID-19 cases in the region decreased due to the introduction of vaccines. This led to the resumption of elective procedures and surgeries in hospitals and other healthcare facilities. Thus, the regional demand for custom procedure packs has rebounded. Such factors are expected to drive the growth of the regional market during the forecast period.
To gain further insights on the market contribution of various segments Request for a FREE sample
The custom procedure packs market share growth by the single-use segment will be significant during the forecast period. Single-use or disposable custom procedure packs can be used for most surgical procedures, including orthopedic, cosmetic, cardiovascular, and general surgery. These surgical packs provide healthcare facilities with benefits such as reduced inventory costs, reduced infection rates, and reduced clinical waste. Such healthcare facilities are expected to drive the segment growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the custom procedure packs market size and actionable market insights on post COVID-19 impact on each segment.
Surgical Mask market - The market size has the potential to grow by USD 2.41 billion during 2020-2024, and the market's growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.
Reusable Icepacks market - The market share is expected to reach an estimated USD 8.77 billion by 2026 at an accelerating CAGR of 8.06%.
Custom Procedure Packs Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.73% |
Market growth 2022-2026 |
$ 2.11 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.67 |
Regional analysis |
North America, Asia, Europe, and Rest of World (ROW) |
Performing market contribution |
North America at 39% |
Key consumer countries |
US, Canada, UK, China, and India |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
3M Co., B Braun Melsungen AG, Cardinal Health Inc., Hubei Medlink Healthcare Co. Ltd., Kimal Group, Med-italia Biomedica Srl, Medline Industries Inc., Medtronic Plc, Molnlycke Health Care AB, Multigate Medical Products Pty Ltd., Owens and Minor Inc., Priontex, Thermo Fisher Scientific Inc., and Unisurge International Ltd |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.