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The global custom procedure packs market size was valued at USD 7.28 billion in 2022. The market is projected to grow from USD 7.57 billion in 2023 to USD 10.36 billion by 2030, exhibiting a CAGR of 4.6% during the forecast period.
Custom procedure packs streamline surgeries by providing pre-arranged, tailored sets of instruments and supplies, reducing the preparation time, and ensuring surgical efficiency, consistency, and cost-effectiveness in healthcare settings. These packs consist of drapes, swabs, sutures, knives, syringes, and others. It is a single presentation of all the surgical consumable items required for a specific procedure such as knee arthroscopy, cardiovascular, cataract packs, and others. These kits enable faster clinical procedure setups and help in managing the cost of surgical products.
An increase in the number of surgical procedures and awareness about the benefits of these packs has led to a rise in the demand for custom procedure packs. Such a scenario has increased the interest of the major and emerging market players to conduct initiatives to start new facilities for manufacturing of these surgical procedure packs. Thus, these factors are driving the growth of the global market.
Additionally, key players in the market are focusing on product launches of advanced surgical solutions, which are environmentally sustainable and eco-friendly packs. Also, various emerging players are introducing new manufacturing facilities and distribution networks to cater to the growing demand for custom procedure packs in the market. Such factors are responsible for the global custom procedure packs market growth.
Cancellations and Delays in Elective and Non-elective Surgeries during the Pandemic Negatively Impacted Market Growth
Due to the pandemic, the market experienced negative growth in 2020. Some of the factors that affected the growth of the market during the pandemic was a decline in the number of elective surgeries and non-elective surgeries. Hence, the growth of the market was negatively impacted during the pandemic.
The custom procedure packs (CPP) market revenue growth and sales of major market players declined in 2020. This decline was basically from the disruption in the distribution channel. The market saw a recovery in product sales in 2021.
The resumption of the normal frequency of hospital visits for surgeries contributed to the full normalization of the market in 2022. The market is expected to witness significant growth during the forecast period of 2023-2030.
Significant Product Launches by Key Players are a Prominent Trend
During recent years, the prevailing trend in the global market is an increased focus and initiatives by major key players on developing innovative procedure products. Sterile and effective products with cutting-edge innovations are now widely used in surgical settings globally. The packs consist of drapes, swabs, sutures, knives, syringes, and others. All these components are specific to the surgery. These kits enable faster clinical procedure setup and help in managing the cost of surgical products. Similarly, many market players have increased their focus on introducing advanced drapes, sutures, and others, that can be used in the customization of these packs. Such growing demand for custom procedure products and recent product launches are propelling the market growth in the future.
Furthermore, certain initiatives are undertaken by the major key players, such as mergers and acquisitions, to develop these products. Such a scenario will fulfil the growing demand of the surgical industry.
Currently, more companies are entering the market with new and innovative packs/kits to grow their business around the world.
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Rising Number of Surgical Procedures and Rising Adoption of These Products in Surgeries to Boost Market Growth
One of the most prevalent drivers in the market is the increasing number of surgical procedures and the usage of these packs in those procedures. Some common surgical procedures include cardiovascular, general surgery, and ophthalmic. The growing prevalence of chronic diseases and rising awareness about surgical options are promoting the number of surgeries.
Also, the rising surgical healthcare expenditure and reimbursement facilities in various countries are increasing the surgical volumes. Such an increasing number of surgical procedures are expected to enhance the product penetration in the market.
Additionally, the rise in orthopedic surgeries, such as hip, knee, or joint replacement surgeries, also enhances product demand in the market. Such a substantial demand for packs, due to the increasing number of surgeries, contributes to the growth of the market during the forecast period.
Stringent Regulatory Framework for Maintaining Quality of Packs and Product Recalls Hinders Market Growth
Maintaining the products’ sterility and efficiency is challenging for the majority of manufacturers.
The strict regulations governing the manufacturing, testing, and use of these products raise the difficulty level for developing and introducing new products to the market. This poses a challenging situation for manufacturers striving to innovate and keep up with the evolving demands of the surgical industry. Such a regulatory scenario is expected to hamper the global market growth during the projected period.
Additionally, the market is observing numerous product recalls due to manufacturing errors in the packaging and sterility issues. Product recalls potentially damage the company’s reputation and result in significant financial losses for the business. Such factors hamper the market growth.
Such stringent regulatory scenarios and product recalls for these packs are anticipated to limit market growth during the forecast period.
Increase in Number of Surgical Procedures and Innovative Products Launches to Propel Others Segment Growth
Based on product type, the market is fragmented into anesthesia packs, cardiovascular surgery packs, neurosurgery packs, ophthalmic surgery packs, orthopedic surgery packs, and other procedure packs.
The other procedure packs segment led the global custom procedure packs market share in 2022. The other procedures include surgeries, such as gynecological surgery, urological surgery, bariatric surgery, and others. The increase in the number of other surgical procedures and the adoption of these packs for them is considerably high, especially in hospitals.
Furthermore, these packs streamline surgeries by providing pre-arranged, tailored sets of instruments and supplies, reducing preparation time for operations and ensuring surgical efficiency, which is further expected to propel the segment’s growth during 2023-2030.
The anesthesia packs segment registered a significant share of the market in 2022. Anesthesia packs are used in multiple surgeries, including knee and hip replacements, heart surgeries, and others. The robust utilization of these packs in a number of surgeries is promoting segmental growth.
The orthopedic surgery packs, cardiovascular surgery packs, ophthalmic surgery packs and neurosurgery packs segments together had a desirable market share in 2022. Thus, market players are emphasizing the launches of innovative products to help the end-users.
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Increasing Number of Inpatient Surgeries in Hospitals to Boost Hospitals Segment Growth
By end-user, the market is segmented into hospitals, clinics, ambulatory surgery centers, and others.
The hospitals segment gained a dominant market share in 2022. The hospital segment is further divided into operating room, intensive care unit (ICU), outpatient department, and others. The segment dominance is attributed to an increasing number of hospitals across the globe, an increase in the prevalence of chronic disease, and a rise in the number of inpatient surgeries, resulting in increased demand for these products in hospitals.
The ambulatory surgical centers segment held a significant market share. The growth was attributable to an increase in the number of ambulatory surgery centers that provide high-quality surgical procedures with low-cost care for patients. Furthermore, the usage of these products reduces the preparation time for operations. It ensures more surgeries every day, promotes the usage of these packs and propels the growth of the segment.
In addition, the clinics segment is anticipated to register a moderate CAGR during the forecast period. These institutions handle minor surgical procedures, and the requirement for cost-efficient and safe instruments for performing these procedures in clinics is contributing to the market growth.
Moreover, the others segment held a lower share in the market. However, the growing usage of these procedure packs in academic institutes and for research purposes is expected to propel the growth of the segment.
Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the global market with a revenue of USD 3.31 billion in 2022. The region held a significant share of the global market due to robust healthcare infrastructure and an increase in the number of ophthalmological, orthopedic, and general surgeries in the region. Additionally, increased awareness about the benefits of using packs and product launches is also anticipated to drive the growth of the market in the region.
Europe held a significant market share in 2022 and is anticipated to expand at a moderate growth rate during 2023-2030. Advanced healthcare infrastructure and a rise in the number of surgeries escalated the adoption of these products for surgeries in the European region.
Furthermore, the Asia Pacific is expected to expand at the highest CAGR during the forecast period. The rise in the aging population of countries, such as India and China, requires medical intervention with surgical assistance, which is expected to grow the revenue of the region during the forecast period.
Latin America and the Middle East & Africa regions accounted for a considerable share in 2022. The increasing initiatives by global and regional players to penetrate the market and enhance the product adoption of these packs in developing countries are anticipated to promote regional growth.
Medline Industries, LP, Cardinal Health, and Mölnlycke Health Care AB Hold Significant Market Position Owing to Diversified Product Portfolio
The competitive landscape of the global market reflects a fragmented structure. Some prominent players in the market include Medline Industries, LP, Cardinal Health, and Mölnlycke Health Care AB, which held a significant position in the global market in 2022 due to their established market presence, including a larger customer base and innovative product launches. Also, a robust product portfolio for various packs and an established distribution network across the globe are the major factors for these companies' dominant market position.
Some of the other prominent players in the market, such as B. Braun SE, PAUL HARTMANN AG, Unisurge, Kimal, PrionTex, and others. Kimal offers a strong product portfolio, including products for cardiology, laparoscopy, and radiology surgeries, coupled with an expanded supply chain in 70 countries. Furthermore, the introduction of innovative packs and strategic initiatives to expand their geographical footprint, this aspect favors the market position of the companies.
Similarly, PrionTex, DeRoyal Industries, Inc., AMS ALIGNED MEDICAL SOLUTIONS, McKesson Medical-Surgical Inc., Core Medical, and other companies
An Infographic Representation of Custom Procedure Packs (CPT) Market
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The report encompasses the global custom procedure packs market analysis. The market report covers and analyses the crucial segments such as product, end-user, and geography. Furthermore, the report features insights into the prevalence of key diseases, number of key surgical procedures, industry developments, pricing of these packs by key players, percentage (%) of kits by key procedures, business profiles of dominant players, and the COVID-19 pandemic impact on the market. Additionally, it highlights the market trends and competitive market share analysis of the overall global market forecast.
ATTRIBUTE | DETAILS |
Study Period | 2017-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2017-2021 |
Growth Rate | CAGR of 4.6% from 2023-2030 |
Unit | Value (USD billion) |
Segmentation | By Product Type
|
By End-user
| |
By Geography
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Fortune Business Insights says that the global market size was valued at USD 7.28 billion in 2022 and is projected to reach USD 10.36 billion by 2030.
The market is projected to grow at a CAGR of 4.6% during the forecast period.
The North America market size was USD 3.31 billion in 2022.
The others procedure packs segment is the foremost segment in the global market.
North America held the dominant global market share in 2022.
Increasing number of surgical procedures for diseases such as cardiovascular, neurological, orthopedic, ophthalmology, and others.
Medline Industries, LP, Cardinal Health, and O&M Halyard are the foremost players in the global market.
Significant benefits of utilizing these packs and the ability to improve and simplify the workflow for healthcare professionals in the market.
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