Medical Device Trays Market Global Trends, Market Share, Industry Size, Growth

Medical Device Trays Market Introduction

The global medical device trays market is predicted to value over US$ 20 billion by the end of 2026 and growing at a CAGR of over 10.5% during the forecast period, 2019 to 2026.  

Medical devices are used for effective illness and disease treatment by ensuring product sterility. Medical devices trays are used in order to store and prevent these devices from bacteria. With the help of these trays, medical devices are kept together at one place so that they could be easily found and used during surgery or any other medical procedures. As per the procedures and operations conducted, medical device trays can be customised. These trays are an appropriate solution for maintaining cleanliness and sterility of the medical devices. Applications of medical device trays are ophthalmology trays, catheter trays, orthopaedic implant trays as they are thermoformed. They are also used in ambulatory surgical centres, clinics and hospitals.

Medical Device Trays Market Overview

Increasing demand of safety in healthcare sector led to the development of quality management principle to improve the product protection. It increased utilization of trays as a packaging method for medical devices and fuelled the growth of the market. Packaging material is an integral part of the medical device and intended to protect the product from the external environment. Contaminants can interfere with product stability and lead to unintentional diseases among the patient population. Rising demand of sterile packaging to increase the protection led to the robust growth of the market. Further changing regulatory scenarios to prevent the contamination led to robust growth and created opportunistic space for manufacturers. Additionally, the rapid advancement of technologies augmented the existing process and increased the output with limited resources.

North America and Europe regions are expected to remain dominant throughout the forecast period due to high adoption and increasing prevalence of chronic disorders. The Asia Pacific and Latin America regions created to potential opportunistic space for manufacturers due to a large number of manufacturers in these regions. They are expected to witness the highest growth rate in global market. Rest of world is expected to account significant share due to increasing adoption.

Medical Device Trays market players include DuPont, Wipak, 3M Company, Bemis Company, Inc., West Pharmaceutical Services, Inc., Placon Corporation and others

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Medical Device Trays Market Segmentation

By Product Type

+ Two-piece inner tray

+ Single-seal trays

+ Multi-cavity trays

By End User

+ Hospitals

+ Clinics

+ Outpatient Centres

By Region

+ North America

+ Latin America

+ Europe

+ Asia Pacific

+ Rest of the World

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Competitive Landscape:  
•    Tier 1 players- established companies in the market with a major market share
•    Tier 2 players 
•    Emerging players which are growing rapidly 
•    New Entrants  

FutureWise Key Takeaways 
•    Growth prospects
•    SWOT analysis 
•    Key trends 
•    Key data-points affecting market growth 

Objectives of the Study: 

•    To provide with an exhaustive analysis on the global Medical Device Trays Market by Product Type, by End-User, by Region

•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•    To evaluate and forecast micro-markets and the overall market 
•    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
•    Profiling of companies to evaluate their market shares, strategies, financials and core competencies  

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About This Author

Akash DADHICH Joined: September 17th, 2019