Key market players are focusing on increasing the rate of launching more sophisticated products to fulfil the mounting demand in the market.
DUBAI, UAE / ACCESSWIRE / January 6, 2021 / Fact.MR: The prepackaged medical kits and trays market is set to grow at 8.5% CAGR through 2030, as per Fact.MR's recent study. Rise of multi-specialty hospitals all over the world is a key factor for the ever-increasing need for prepackaged medical kits & trays all over the globe. Furthermore, the demand is high for disposable medical products, particularly with the onset of transmissible diseases for instance COVID-19.
"Increasing concerns in relation to HAI's together with increasing precautionary measures taken owing to the COVID-19 outbreak is likely to drive sales of prepackaged medical kits and trays. Moreover, increase in ENT, laparoscopy, along with other surgeries is further spurring the market expansion" says the Fact.MR report.
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Key Takeaways
- US will hold largest share; however, manufacturing hubs in India, Malaysia, Indonesia, will be important from an export perspective
- Laparoscopic trays is the most lucrative category, and is set to grow at 6% CAGR through 2030
- Multi-specialty hospitals account for the highest demand, followed by clinics
Driving Factors
- Increasing number of patients in clinics, multi-specialty hospitals, and others are boosting requirement for market growth.
- Rising incidences of hospital-associated infections while being treated is encouraging demand for disposable prospects such as prepackaged medical kits & trays.
- The market is witnessing a surge in demand owing to the rush of patients in clinics, ASCs, and others caused by COVID-19 outbreak.
Constraints
- Increasing FDA recalls to pass the testing process of these kits and trays might negatively impact the market growth.
- Rising pricing pressure due to expensive sterilization process can hinder the market growth.
Anticipated Market Impact by COVID-19 Outbreak
The prepackaged medical kits and trays market is positively impacted amid the COVID-19 outbreak due to increasing number of patients admitted in acute care has ensued in surging demand for pre-packaged medical kits & trays, since its play a vital role in minimizing infections risk. Although the outbreak has caused instabilities up to some level for market players, the market has high prospects to overcome these constraints and expand exponentially in the approaching years.
Competition Landscape
Key companies in the prepackaged medical kits and trays market are focusing on launching more diverse segments of products with better quality to sustain fierce competition.Key companies identified in the market are Medtronic Plc., Boston Scientific, Corporation, The 3M Company, B. Braun Melsungen AG, Smith & Nephew Plc., Hogy Medical Co. Ltd., Becton, Dickinson and Company, Cypress Medical Products, LLC, Molnlycke Health Care AB, Medline Industries Inc. and C.R. Brad, Inc.
More on the Report
The Fact.MR's market research report provides in-depth insights into the prepackaged medical kits and trays market. The market is scrutinized based on product (laparoscopic trays, laceration trays, ENT trays, ophthalmic custom trays, custom ob/gyn kits, hysterectomy kits, open heart surgery kits, angiography/angioplasty/Catherization kits, lumbar puncture trays, biopsy trays, suture removal kits, dressing kits, orthopedic kits & trays, and anesthesia kits) and end user (multi-specialty hospitals, clinics, stand-alone laboratories, ambulatory surgical centers, academic research institutes, and others), across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)).
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SOURCE: FactMR