The global custom procedure kits market size is anticipated to reach USD 15.30 billion by 2030 to expand at a CAGR of 10.95% from 2023 to 2030 according to a new report by Grand View Research, Inc. Key drivers which are anticipated to contribute to custom procedure kits market growth include rising chronic diseases, an increasing number of non-surgical & surgical treatments, high unmet medical needs in emerging & low-growth economies, rising geriatric population, for instance, according to WHO, by 2030 one in every six people globally will be aged 60 years and above.
Furthermore, the introduction of minimally invasive and noninvasive surgeries has led to an increase in the number of surgeries being performed in a year. Patients prefer non-invasive or minimally invasive surgical procedures, owing to the high threat of infections with invasive surgical procedures. In addition, noninvasive surgical treatment requires a shorter hospital stay, thus saving time and medical costs. Furthermore, a rise in the number of road accidents, an aging population, and growing healthcare expenditure in emerging economies are likely to boost the number of surgeries being performed in the forecast period.
Key players are involved in adopting strategies, such as partnerships, mergers & acquisitions, and new product launches, to strengthen their foothold in the custom procedure kits market. For instance, in September 2022, Teleflex Incorporated announced the acquisition of Standard Bariatrics, Inc. to expand its surgical portfolio with various stapling technology which is used in bariatrics procedures. Such advancements are anticipated to contribute to the custom procedure kits market growth.
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Custom Procedure Kits Market Report Highlights
Based on product, the market has been segmented into disposable and reusable. The reusable segment is expected to be expected at the highest CAGR of 11.32% during to forecast period. The increasing frequency of hospital admission due to the high prevalence of chronic diseases, and fatal injuries as well as the aging population is anticipated to fuel more disposable waste. Thus, to lower the environmental effect, healthcare providers would slowly shift towards reusable kits.
Based on procedures, others are expected to grow at the highest CAGR of 11.71% during to forecast period. Key drivers which are anticipated to fuel the segment growth include growing demand for aesthetic appearance in the population, as well as increasing medical tourism.
Based on the end-user, the hospitals segment held the largest share of around 45.79%, in terms of revenue. This is due to the increasing number of hospitals globally, and rising government funding for hospitals. For instance, the Australian government provides 41% of the public hospital funding and 24% of the private hospital funding.
Asia Pacific is expected to expand at the highest CAGR of 12.45% during to forecast period owing to various factors such as growth in medical facilities, the presence of a large population suffering from chronic disorders, and the launch of new products.
Custom Procedure Kits Market Segmentation
Grand View Research has segmented the global custom procedure kits market based on product, procedure, end-user, and region:
Custom Procedure Kits Product Outlook (Revenue; USD Million; 2018 - 2030)
Disposable
Reusable
Custom Procedure Kits Procedure Outlook (Revenue; USD Million; 2018 - 2030)
Colorectal
Thoracic
Orthopedic
Ophthalmology
Neurosurgery
Cardiac Surgery
Gynecology
General Surgery
Urology
Others
Custom Procedure Kits End-user Outlook (Revenue; USD Million; 2018 - 2030)
Hospitals
Ambulatory Surgical Centers
Clinics
Others
Custom Procedure Kits Regional Outlook (Revenue; USD Million; 2018 - 2030)
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Denmark
Norway
Sweden
Asia Pacific
Japan
China
India
Australia
South Korea
Thailand
Latin America
Brazil
Mexico
Argentina
Middle East and Africa (MEA)
South Africa
Saudi Arabia
UAE
Kuwait
List of Key Players in the Custom Procedure Kits Market
Mölnlycke Health Care
Medline Industries
Teleflex Incorporated
Owens & Minor
Medtronic
Cardinal Health
McKesson Corporation
Smith’s Medical (ICU Medical, Inc.)
Terumo Cardiovascular Systems Corporation
Santex S.p.A.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.