At 9.1% CAGR, the South & Central America Procedure Trays Market is Projected to be Worth US$ 2,227.45 Million by 2030, Says Business Market Insights

According to Business Market Insights research, the South & Central America procedure trays market was valued at US$ 1,106.98 million in 2022 and is expected to reach US$ 2,227.45 million by 2030, registering a CAGR of 9.1% from 2022 to 2030. Increasing number of surgical procedures and surge in medical tourism are among the critical factors attributed to the South & Central America procedure trays market expansion.

The prevalence of health conditions such as cardiovascular diseases, obstructed labor, injuries, and malignancies trigger the need for surgical procedures. According to research by the World Health Organization (WHO), the number of cesarean sections continues to increase worldwide, accounting for more than one in five (21%) births. This number is expected to rise over the coming decade, with almost a third (29%) of all births likely to be by cesarean section by 2030. Advances in surgical, anesthetic, and critical care techniques have resulted in a greater proportion of the growing elderly population undergoing surgical procedures. According to WHO, the world geriatric population is expected to reach 1.5 billion by 2050. According to the International Society of Aesthetic Plastic Surgery's Global Survey on Aesthetic/Cosmetic Procedures 2022, Brazil ranked second in terms of surgical procedures performed worldwide, accounting for 8.9%. Also, between January 2012 and May 2023, more than 282,000 lower limb amputation procedures were carried out in public hospitals in Brazil. 31,190 surgeries were performed in just the previous year, which indicates that at least 85 Brazilians had their feet or legs amputated every day via the nation's healthcare system. Thus, owing to the increasing number of surgeries worldwide, there is a growing demand for procedure trays that are used to hold instruments while performing surgical procedures.

On the contrary, concerns about disposal and standardization of procedure trays hampers the growth South & Central America procedure trays market.

Based on application, the South & Central America procedure trays market is segmented into operating room, angiography, ophthalmology, and others. The operating room segment held 53.8% share of the South & Central America procedure trays market in 2022, amassing US$ 595.84 million. It is projected to garner US$ 1,246.88 million by 2030 to expand at 9.7% CAGR during 2022-2030.

By end user, the South & Central America procedure trays market is segmented into hospitals & clinics, ambulatory surgical centers, and others. The hospitals & clinics segment held 68.7% share of the South & Central America procedure trays market in 2022, amassing US$ 760.94 million. It is projected to garner US$ 1,563.43 million by 2030 to expand at 9.4% CAGR during 2022-2030.

Based on country, the South & Central America procedure trays market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil held 61.9% share of South & Central America procedure trays market in 2022, amassing US$ 685.11 million. It is projected to garner US$ 1,415.32 million by 2030 to expand at 9.5% CAGR during 2022-2030.

Key players operating in the South & Central America procedure trays market are Biometrix, 3M Co, BD, Molnlycke Health Care AB, Nelipak Corporation, Teleflex Incorporated, Cardinal Health Inc, and ICU Medical Inc, among others.



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