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Germany Procedure Trays Market Size and Forecasts (2020 - 2030), Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Application (Operating Room, Angiography, Ophthalmology, and Others), End User (Hospitals & Clinics, Ambulatory Surgical Centers, and Others), and Country Analysis
Market Report I 2023-10-05 I 71 Pages I The Insight Partners
The Germany procedure trays market size is projected to grow from US$ 1.637 billion in 2022 to US$ 3.600 billion by 2030; the market is estimated to record a CAGR of 10.3% during 2022-2030
The increasing number of surgeries and the surge in medical tourism drive the market's growth. However, the concerns about the disposal and standardization of procedure trays hamper market growth.
Surge in Medical Tourism
Many countries are becoming popular destinations for health seekers. According to the Medical Tourism Association (MTA), ~14 million people travel to other countries for medical care yearly. The advancements in medical devices and non-invasive surgical procedures are the major factors responsible for the increasing medical tourism. According to the Centers for Disease Control and Prevention (CDC), millions of Americans travel abroad yearly for medical care. Medical tourism destinations for US citizens include Argentina, Brazil, Canada, Colombia, Costa Rica, Cuba, Dominican Republic, Ecuador, Germany, India, Malaysia, Mexico, Nicaragua, Peru, Singapore, and Thailand. According to the MedicalTourism, Germany is one of the world's leading destinations for medical tourism, as it combines high-quality healthcare services with cutting-edge medical technology.
The treatment categories pursued by US medical tourists include cancer treatment, dental care, fertility treatments, organ and tissue transplants, and various forms of surgery, including bariatric, cosmetic, and non-cosmetic (e.g., orthopedic) surgery. As per the above source, Germany stands out by providing a wide range of medical procedures, including cardiac surgery, orthopedics, oncology treatments, neurosurgery, cosmetic & reconstructive surgery, and others.
According to an article published in the Medical Tourism Journal, European countries offer high-quality and low-cost medical care. Medical technology and pharmaceutical companies in Europe are well-known for providing a cutting-edge research environment for continuous medical innovations. Europe has several major medical clusters that specialize in caring for medical tourists from all over the world.
Medical travelers who visit Germany for medical tourism are usually from the UAE, Russia, Bulgaria, Romania, France, Saudi Arabia, and Kuwait. On average, 250,000 patients are treated in Germany's hospitals, and from medical tourism, they receive more than 1.2 billion euros annually.
Thus, developments in healthcare services lead to an increase in medical tourism, thereby bolstering the number of surgical procedures, which, in turn, boosts the growth of the procedure trays market.
Antibody Drug Conjugates Market: Segmental Overview
The "Germany Procedure Trays Market" is segmented based on application and end user. The procedure trays market, by application, is segmented into operating room, angiography, ophthalmology, and others. The operating room segment held a larger market share in 2022, which is anticipated to register a higher CAGR of 10.9% during the forecast period.
The Germany procedure trays market, by end user, is segmented into hospitals & clinics, ambulatory surgical centers, and others. The hospitals & clinics segment held the largest share of the market in 2022 and is anticipated to register the highest CAGR of 10.7% in the market during the forecast period. Every healthcare facility includes the usage of tool trays. They are utilized in hospitals, laboratories, clinics, and emergency centers.
The hospital provides health care to people through complicated but specialized scientific equipment. Hospitals are classified as general, specialty, or government, depending on their source of income. The most common form of the hospital is a general hospital, which has an emergency department to deal with medical emergencies and sudden illnesses. Hospitals play an essential role in the healthcare system and offer advanced treatment options for patients with chronic and hard-to-heal wounds. Most surgeries are performed in hospitals, as they provide continuous patient care and monitoring. The increasing population has further enhanced the demand for healthcare services, which increases the number of hospitals and staff. Clinics are smaller than hospitals; however, they offer almost all medical services. Most of the time, clinics are associated with universities and offer cost-effective services. People often prefer going to clinics as they provide inexpensive services and create a positive environment for the patient.
Clinics can be run under government services and incorporate groups and other organizations. Clinics have limited appointments and operate in fixed working hours. Surgical instrument trays are a very common tool in hospitals, laboratories, and clinics. They allow easy access to instruments that would otherwise be difficult or impossible without them. Therefore, the procedure trays market for the hospitals & clinics segment is likely to experience significant growth during the forecast period.
Germany Antibody Drug Conjugates Market: Country Overview
An open, prospective study was performed as a case study in different hospitals in Germany. A total of 11 different Molnlycke Procedure trays were used. The single-use material process was studied for each hospital, from ordering materials to disposal. The study results showed that following the introduction of Molnlycke Procedure trays, time-savings in the single-use material process were between 40% and 59% in the hospitals studied.
Furthermore, expanding outpatient surgeries in Germany will propel the procedure trays market in the country. For instance, on June 23, 2022, the National Association of Statutory Health Insurance Physicians (KBV) announced the first steps aimed at expanding the utilization of surgical procedures within day case/outpatient settings. In the first stage, additional funding of around US$63.22 million was available from January 1, 2023, leading to an increase in the tariffs of the selected surgical procedures by about 30%. Thus, using procedure trays during various hospital procedures, such as surgeries, helped reduce the time duration required to complete the overall process within the hospital.
A few of the major primary and secondary sources referred to while preparing the Germany procedure tray market report on the US Food and Drug Administration (FDA), Cancer.Net, EMA (European Medicines Agency), and Centers for Disease Control and Prevention (CDC).
TABLE OF CONTENTS
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Germany Procedure Trays Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Germany PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Germany Procedure Trays Market - Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increasing Number of Surgical Procedures
5.1.2 Surge in Medical Tourism
5.2 Market Restraints
5.2.1 Concerns About Disposal and Standardization of Procedure Trays
5.3 Market Opportunities
5.3.1 Integration of Procedure Trays with Cloud Platform and Data Analytics
5.4 Future Trends
5.4.1 Escalating Demand for Customized Procedure Trays
5.5 Impact Analysis
6. Germany Procedure Trays Market - Revenue and Forecast to 2030
6.1 Germany Procedure Trays Market Revenue (US$ Mn), 2022 - 2030
6.1.1 Germany: Procedure Trays Market, by Application, 2020-2030 (US$ Million)
6.1.2 Germany: Procedure Trays Market, by End User, 2020-2030 (US$ Million)
7. Germany Procedure Trays Market - Revenue and Forecast to 2030 - by Application
7.1 Overview
7.2 Germany Procedure Trays Market Revenue Share, by Application 2022 & 2030 (%)
7.3 Operating Room
7.3.1 Overview
7.3.2 Operating Room: Germany Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
7.4 Angiography
7.4.1 Overview
7.4.2 Angiography: Germany Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
7.5 Ophthalmology
7.5.1 Overview
7.5.2 Ophthalmology: Germany Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Germany Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
8. Germany Procedure Trays Market - Revenue and Forecast to 2030 - by End User
8.1 Overview
8.2 Germany Procedure Trays Market Revenue Share, by End User 2022 & 2030 (%)
8.3 Hospitals & Clinics
8.3.1 Overview
8.3.2 Hospitals & Clinics: Germany Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
8.4 Ambulatory Surgical Centers
8.4.1 Overview
8.4.2 Ambulatory Surgical Centers: Germany Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Germany Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
9. Procedure Trays Market-Industry Landscape
9.1 Overview
9.2 Growth Strategies in Germany Procedure Trays Market (%)
9.3 Organic Developments
9.3.1 Overview
9.4 Inorganic Developments
9.4.1 Overview
10. Company Profiles
10.1 Biometrix
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Products and Services
10.1.4 Financial Overview
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 Medica Europe BV
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Products and Services
10.2.4 Financial Overview
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 3M Co
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Financial Overview
10.3.4 SWOT Analysis
10.3.5 Key Developments
10.4 BD
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Products and Services
10.4.4 Financial Overview
10.4.5 SWOT Analysis
10.4.6 Key Developments
10.5 Owens & Minor Inc
10.5.1 Key Facts
10.5.2 Business Description
10.5.3 Products and Services
10.5.4 Financial Overview
10.5.5 SWOT Analysis
10.5.6 Key Developments
10.6 Molnlycke Health Care AB
10.6.1 Key Facts
10.6.2 Business Description
10.6.3 Products and Services
10.6.4 Financial Overview
10.6.5 SWOT Analysis
10.6.6 Key Developments
10.7 Nelipak Corporation
10.7.1 Key Facts
10.7.2 Business Description
10.7.3 Products and Services
10.7.4 Financial Overview
10.7.5 SWOT Analysis
10.7.6 Key Developments
10.8 Teleflex Incorporated
10.8.1 Key Facts
10.8.2 Business Description
10.8.3 Products and Services
10.8.4 Financial Overview
10.8.5 SWOT Analysis
10.8.6 Key Developments
10.9 Cardinal Health Inc
10.9.1 Key Facts
10.9.2 Business Description
10.9.3 Products and Services
10.9.4 Financial Overview
10.9.5 SWOT Analysis
10.9.6 Key Developments
10.10 ICU Medical Inc
10.10.1 Key Facts
10.10.2 Business Description
10.10.3 Products and Services
10.10.4 Financial Overview
10.10.5 SWOT Analysis
10.10.6 Key Developments
11. Appendix
11.1 About Us
11.2 Glossary of Terms
LIST OF TABLES
Table 1. Germany Procedure Trays Market Segmentation
Table 2. List of Vendors in Value Chain
Table 3. Germany Procedure Trays Market, by Application - Revenue and Forecast to 2030 (US$ Million)
Table 4. Germany Procedure Trays Market, by End User - Revenue and Forecast to 2030 (US$ Million)
Table 5. Organic Developments in the Germany Procedure Trays Market
Table 6. Inorganic Developments in the Germany Procedure Trays Market
Table 7. Glossary of Terms, Procedure Trays Market
LIST OF FIGURES
Figure 1. Germany Procedure Trays Market Segmentation
Figure 2. Germany - PEST Analysis
Figure 3. Germany Procedure Trays Market: Key Industry Dynamics
Figure 4. Germany Procedure Trays Market: Impact Analysis of Drivers and Restraints
Figure 5. Germany Procedure Trays Market Revenue (US$ Mn), 2020 - 2030
Figure 6. Germany Procedure Trays Market Revenue Share, by Application 2022 & 2030 (%)
Figure 7. Operating Room: Germany Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
Figure 8. Angiography: Germany Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
Figure 9. Ophthalmology: Germany Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
Figure 10. Others: Germany Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
Figure 11. Germany Procedure Trays Market Revenue Share, by End User 2022 & 2030 (%)
Figure 12. Hospitals & Clinics: Germany Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
Figure 13. Ambulatory Surgical Centers: Germany Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
Figure 14. Others: Germany Procedure Trays Market - Revenue and Forecast to 2030 (US$ Million)
Figure 15. Growth Strategies in Germany Procedure Trays Market (%)
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