Report : Europe and Middle East & Africa Procedure Trays Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Angiography, Ophthalmology, Operating Room, and Anesthesia Room) and End User (Hospitals, Clinics, and Ambulatory Surgical Centers)
According to our latest market research study on “Europe and Middle East & Africa Procedure Trays Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type and End User,” the Europe and Middle East & Africa Procedure Trays market is expected to reach US$ 7,822.19 million by 2028 from US$ 4,320.50 million in 2022; it is estimated to record a CAGR of 10.4% from 2022 to 2028.
The report highlights trends prevailing in the market, along with market drivers and deterrents. An increase in the number of surgical procedures and a surge in medical tourism drive the Europe and Middle East & Africa procedure trays market growth. However, concerns about the disposal of procedure trays hinder Europe and Middle East & Africa procedure trays market growth.
According to an article published in the Medical Tourism Journal, European countries offer high-quality and low-cost medical care. The cost of procedures is 40–80% less in these countries, compared to the cost of the same procedures in the US. Medical technology and pharmaceutical companies in Europe are among the top institutions in the world, and they maintain a cutting-edge research environment for continuous innovations in the field of medicine. According to the World Bank Group, the GDP of the EU was 17.18 trillion in 2021, and public health spending accounted for 8.1% of the GDP. The EU health market has substantially greater potential than the actual current demand for EU health services. According to a study, ~90% of EU citizens are currently undergoing some treatment in their country, and 53% of the citizens are willing to opt for treatments provided in other EU countries. Europe has several major medical clusters that are specialized in taking care of medical tourists coming from all over the world. For instance, Poland is one of the most preferred medical tourism destinations in this region. Medical tourists visit this country for plastic surgeries, weight loss surgeries, cardiovascular surgeries, and orthopedic treatments. The costs of these surgical procedures are lower than those in developed countries. Similarly, medical tourists prefer Switzerland for treatments as the country has more than 500 hospitals, whereby 40 plus hospitals are private medical centers. Spain is another European country that has many large hospitals and well-established clinics catering to international patients. However, treatment costs in these institutes are higher than the fees charged for the same services in Eastern European destinations. Spaincares, a healthcare service platform, claims that the country welcomes ~140,000 medical tourists annually, with the largest number of patients coming from the UK.
Governments of countries in the Middle East & Africa are collaborating with governments of developed countries across the world to improve their healthcare services, which would help them attract medical tourists in large numbers. The UAE government has collaborated with US-based hospitals, which provides the healthcare sector in the UAE access to cutting-edge technologies. This allows them to improve healthcare facilities, services, and patient care. For instance, Mayo Clinic, Johns Hopkins Hospital, and the Cleveland Clinic Foundation have signed the memoranda of understanding with the UAE ambassador to provide enhanced medical care to designated Emirati patients for ongoing collaboration between the American hospitals and their counterparts in the UAE. In the UAE, the healthcare system is mostly funded by the government; however, in the last few years, there has been a significant increase in private sector investments in healthcare services. Thus, with developments in healthcare services and an increase in medical tourism, the number of surgical procedures carried out in Europe and the Middle East & Africa is also on the rise, which, in turn, bolsters the Europe and Middle East & Africa procedure trays market growth.
The Europe and Middle East & Africa procedure trays market, based on product type, is segmented into angiography, ophthalmology, operating room, and anesthesia room. The operating room segment held the largest market share in 2022, and in coming years, the market for this segment is expected to grow at the fastest rate in Europe and Middle East & Africa procedure trays market. The correct setup and arrangement of surgical instruments help a surgeon perform surgery efficiently. Proper sterile precautions of surgical instruments play a key role in the patient's post-operative health. In operating room, surgical trays provide specific instruments according to the surgery needs, which reduces the pressure on technical staff and enables hassle-free surgery. Owens & Minor, Inc. provides custom procedure trays for various procedures such as general surgery, orthopedic procedure, plastic surgery, and cardiology/vascular procedure. According to Eurostat, in 2020, about 1.12 million cesarean procedures were carried out in the EU. As per the same source, in the same year, ~294 people per 1,000 inhabitants underwent hip replacement surgeries in Germany. The increasing number of surgeries carried out in operating rooms is fueling the use of procedure trays in the operating rooms which is boosting the Europe and Middle East & Africa procedure trays market growth.
During COVID-19 outbreak, demand for medical procedure trays increased to perform surgeries. According to a study published in February 2022 by the National Library of Medicine, surgical services were temporarily shut down during the initial surge of COVID-19, but the healthcare system continued to provide safe care for thoracic surgery patients, especially those with oncologic conditions. Also, COVID-19 has increased the demand for personal protective equipment, such as masks, gloves, and eyeglasses, as well as medical supplies. Increasing numbers of COVID-19 cases worldwide have led to a significant increase in the need for medical supplies among healthcare professionals and the general population as precautionary Middle East & Africasures. This increased demand for medical supplies gives manufacturers of these products the opportunity to ensure adequate and continuous supplies of personal protective equipment. Consequently, COVID-19 had a positive impact on the Europe and Middle East & Africa procedure trays market growth.
Biometrix, Medica Europe BV, 3M, BD, Owens & Minor Inc, Molnlycke Health Care AB, Nelipak Corporation, Teleflex Incorporated, Cardinal Health Inc, and ICU Medical Inc are a few prominent players operating in the Europe and Middle East & Africa procedure trays market.
Companies are launching new and innovative products and services to sustain their position in the Europe and Middle East & Africa procedure trays market. In October 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. Thus, company’s strategic innovation propels the Europe and Middle East & Africa procedure trays market.
The report segments the Europe and Middle East & Africa procedure trays market as follows:
The Europe and Middle East & Africa procedure trays market, based on product type, is segmented into angiography, ophthalmology, operating room, and anesthesia room. The market, based on end user, is segmented into hospitals, clinics, and ambulatory surgical centers. Based on geography, the Europe and Middle East & Africa procedure trays market is bifurcated into Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe) and the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa).
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com