PMR utilizes a triangulation methodology that is primarily based on experimental techniques such as patient-level data, number of procedures and capital equipment install base to obtain precise market estimations and insights on various medical devices and medical technology. Bottom-up approach is always used to obtain insightful data for the specific country/regions. The country specific data is again analysed to derive data at a global level. This methodology ensures high quality and accuracy of information.
Secondary research is used at the initial phase to identify the feasibility of the target products/technology categories and its respective segments, product offerings, usage pattern as per disease indications, product installed base in target healthcare facilities, life span of a device, reimbursement scenario, adoption rate and future impact of new technologies.
Each piece of information is eventually analysed during the entire research project which builds a strong base for the primary research information.
Primary research participants include demand-side users such as key opinion leaders, physicians, surgeons, and supply-side providers of medical devices who provide valuable insights on trends, key treatment patterns, adoption rate, and purchasing pattern, technological development of medical devices, patient education, effectiveness of manufacturers and important strategies, pricing and competitive dynamics.
Quantitative and qualitative assessment of basic factors driving demand, economic factors/cycles and growth rates and strategies utilized by key players in the market is analysed in detail while forecasting, in order to project Year-on-Year growth rates. These Y-o-Y growth projections are checked and aligned as per industry/product lifecycle and further utilized to develop market numbers at a holistic level.
On the other hand, we also analyse various companies annual reports, investor presentations, SEC filings, 10k reports and press release operating in this market segment to fetch substantial information about the market size, trends, opportunity, drivers, restraints and to analyse key players and their market shares. Key companies are segmented at tier level based on their revenues, product portfolio and presence.
Please note that these are the partial steps that are being followed while developing the market size. Besides this, forecasting will be done based on our internal proprietary model which also uses different macro-economic factors such as per capita healthcare expenditure, disposable income, industry based demand driving factors impacting the market and its forecast trends apart from disease related factors.
Parent Indicators Healthcare
Standard Report Structure
Key Questions Answered
By Product Type
By End Use
Multi-specialty hospitals becomes leading end user with increase in hospital acquired infections
Hospital associated infections in patients are caused during medical care. Due to large number of patients being treated at a time, there are high chances of infections to spread, even with high prevention measures being taken. This has increased the usage of disposable products in the hospital for different functions, such as pre-packed medical kits, sterile medical devices, and disposable gloves, among others. This has increased the scope of business for manufacturers dealing with pre-packaged medical kits and trays. These are the one-time use kits and trays which are used for a wide variety of minor surgical and medical procedures. These trays also reduce the overall need for individual component packaging by bringing together all the required products in one kit/tray. Whereas, it is also pre-packaged and sterilized, which helps in preventing infections. The market is also popularizing with These factors make multi-specialty hospitals as the leading end user of pre-packaged medical kits and trays with the highest market value during the forecast period. However, the growth of market is expected to be significantly high in the ambulatory surgical centres segment, which is expected to create high incremental opportunities in the coming years. This end-user segment is expected to grow at a CAGR of 8.9% during the forecast period.
Ease in the surgical procedures provided by pre-packaged medical kits and trays, makes it a preferred choice for surgeons
Along with being safer, the pre-packaged medical kits and trays are also more efficient and easy to use. They reduce the time spent in collection of all the surgical devices and products required during any specific surgery, management. It reduces human errors by adjusting the time of human efforts and space within the hospital. This attributes of pre-packaged medical kits and trays make it an obvious choice for surgeons, as it improves productivity, accuracy and precision of a surgeon. Secondly the reusable pre-packaged medical kits are preferred by the procurement team of the hospitals as it labelled under the “green products” resulting in considerably less impact on the environment, compared to loose medical devices and trays, dressings, suture removal, laparoscopy devices and others . Moreover the products are easily cleaned and sterilized by standard hospital processes commonly used for all surgical procedures.
FDA recalls and pricing pressure turns out to be the major hindrance in the growth of pre-packaged medical kits and trays market
Medical tools and kits have a crucial role to play in a surgical procedure, and thus, they have to be checked at different levels. Many times, these kits do not pass the testing process and are recalled. Such recall processes can affect the market adversely. These products go through a costly sterilization process and its recall may have a huge impact on the global market. The market is also expected to experience a pricing pressure. Amid intense competition, local manufacturers are selling the products at a significantly low rate. This may increase the price pressure on the companies. The companies also face pressure due to presence and high sales volume of leading pre-packaged medical Kits and trays manufacturers in the market. The bargaining power of the leading company pressurize the small manufacturing firms