Procedure Trays Market: Industry Expert View on Future Growth and Market Trends
A procedure tray is defined as a set of prepackaged medical devices designed to provide the disposable materials used in a surgical procedure. The procedure tray is sterile and hence is being preferred on a large scale. These trays are designed to suffice the hospital's individual needs per the procedure's requirements.
Key factors that are driving the growth of the procedure trays market are significant benefits offered by procedure trays, an increase in the number of surgical procedures, and a surge in medical tourism. However, the market is likely to get impacted by the increased concerns over the safe disposal of procedure trays during the forecast period.
The procedure trays market is majorly comprised of top players involving Biometrix, Medica Europe BV, 3M Co., BD, Owens & Minor, Inc., ICU Medical Inc., Mölnlycke Health Care AB, Nelipak Corporation, Teleflex Incorporated, and Cardinal Health, Inc. among others.
The companies listed above are implementing various strategies such as product launches, acquisitions, mergers, and partnerships, which have resulted in the company's growth and, in turn, have brought about various changes in the worldwide market. Additionally, the companies have adopted several inorganic and organic strategies for accelerating their growth and improving their market position.
Below is the list of the growth strategies done by the players operating in the procedure trays market:
Oct-2019: 3M acquired Acelity, Inc. and its KCI subsidiaries worldwide from a consortium comprised of funds advised by Apax Partners. Together with controlled affiliates of the Canada Pension Plan Investment Board (CPPIB) and the Public Sector Pension Investment Board (PSP Investments) for a total enterprise value of approximately US$6.7 billion, including the assumption of debt and other adjustments.
May-2020: Nelipak Healthcare Packaging launched Nelipak Academy, a seven-part educational webinar series. The free series covers various topics, including automated handling trays, NeliSim, polymer basics and film properties, rigid barrier packaging design, lab testing services, and heat seal coating technology.
Dec-2021: Owens & Minor, Inc. acquired American Contract Systems (ACS), a Minnesota-based provider of kitting and sterilization services for Custom Procedure Tray (CPT) solutions. This acquisition will enhance combined abilities to serve customers with a stronger CPT offering.
Jan-2022: ICU Medical Inc. acquired Smiths Medical from Smiths Group plc. The Smiths Medical business includes a syringe, ambulatory infusion devices, vascular access, and vital care products. Combined with ICU Medical’s existing businesses, the companies create a leading infusion therapy company with estimated pro forma combined revenues of approximately US$2.5 billion.
Oct-2022: Pioneering med-tech company BD India partnered with the Government of India’s renowned research organization, Raja Ramanna Centre for Advanced Technology (RRCAT), to sterilize one of its medical devices, Venflon Pro, by electron beam (e-beam) technology, at RRCAT’s Indore facility. The e-beam facility is entirely designed and developed by scientists and engineers of RRCAT. It is the only facility approved by regulatory authorities for irradiation of class A and Class B medical devices in India and is also ISO–13485 certified.
About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, Chemicals and Materials.
Key factors that are driving the growth of the procedure trays market are significant benefits offered by procedure trays, an increase in the number of surgical procedures, and a surge in medical tourism. However, the market is likely to get impacted by the increased concerns over the safe disposal of procedure trays during the forecast period.
The procedure trays market is majorly comprised of top players involving Biometrix, Medica Europe BV, 3M Co., BD, Owens & Minor, Inc., ICU Medical Inc., Mölnlycke Health Care AB, Nelipak Corporation, Teleflex Incorporated, and Cardinal Health, Inc. among others.
The companies listed above are implementing various strategies such as product launches, acquisitions, mergers, and partnerships, which have resulted in the company's growth and, in turn, have brought about various changes in the worldwide market. Additionally, the companies have adopted several inorganic and organic strategies for accelerating their growth and improving their market position.
Below is the list of the growth strategies done by the players operating in the procedure trays market:
Oct-2019: 3M acquired Acelity, Inc. and its KCI subsidiaries worldwide from a consortium comprised of funds advised by Apax Partners. Together with controlled affiliates of the Canada Pension Plan Investment Board (CPPIB) and the Public Sector Pension Investment Board (PSP Investments) for a total enterprise value of approximately US$6.7 billion, including the assumption of debt and other adjustments.
May-2020: Nelipak Healthcare Packaging launched Nelipak Academy, a seven-part educational webinar series. The free series covers various topics, including automated handling trays, NeliSim, polymer basics and film properties, rigid barrier packaging design, lab testing services, and heat seal coating technology.
Dec-2021: Owens & Minor, Inc. acquired American Contract Systems (ACS), a Minnesota-based provider of kitting and sterilization services for Custom Procedure Tray (CPT) solutions. This acquisition will enhance combined abilities to serve customers with a stronger CPT offering.
Jan-2022: ICU Medical Inc. acquired Smiths Medical from Smiths Group plc. The Smiths Medical business includes a syringe, ambulatory infusion devices, vascular access, and vital care products. Combined with ICU Medical’s existing businesses, the companies create a leading infusion therapy company with estimated pro forma combined revenues of approximately US$2.5 billion.
Oct-2022: Pioneering med-tech company BD India partnered with the Government of India’s renowned research organization, Raja Ramanna Centre for Advanced Technology (RRCAT), to sterilize one of its medical devices, Venflon Pro, by electron beam (e-beam) technology, at RRCAT’s Indore facility. The e-beam facility is entirely designed and developed by scientists and engineers of RRCAT. It is the only facility approved by regulatory authorities for irradiation of class A and Class B medical devices in India and is also ISO–13485 certified.
About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, Chemicals and Materials.
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