Procedure Trays Market Size, Share, Growth Analysis, By Product(Operating Room, Angiography, Ophthalmic, Others), By Packaging(Box, Mold, Wrap), By End-User(Hospitals, Clinics & Other Facilities), By Region - Industry Forecast 2024-2031

Global Procedure Trays Market size was valued at USD 18 billion in 2022 and is poised to grow from USD 20.16 billion in 2023 to USD 49.92 billion by 2031, growing at a CAGR of 12% in the forecast period (2024-2031).

The anticipated growth of the procedure trays market is heavily influenced by the increasing global volume of surgeries. This trend is driven by the rise in minimally invasive and non-invasive procedures, contributing to a higher frequency of surgeries performed annually. Consequently, the demand for procedure trays is expected to surge in the near future. The preference for non-invasive or minimally invasive surgeries is primarily motivated by the desire to mitigate the infection risks associated with invasive procedures. Additionally, these types of operations lead to shorter hospital stays, offering time and cost savings.

Several factors contribute to the projected increase in surgical procedures during the forecast period. These include a higher occurrence of road accidents, a growing elderly population, and escalated healthcare expenditures in emerging economies. Projections indicate that global healthcare spending could exceed USD 25.00 trillion by 2040, as indicated by the U.S. Census Bureau. Furthermore, the World Health Organization predicts that the global population aged 60 and above will double by 2050, reaching 2.1 billion individuals.

US Procedure Trays Market is poised to grow at a sustainable CAGR for the next forecast year.