Custom Procedure Kits Market Sustainability and Green Management Across the Healthcare Sector

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Sustainability and Green Management Across the Healthcare Sector Creates New Avenues for the Growth of Custom Procedure Kits Market

NEW YORK, UNITED STATES, March 14, 2022 /EINPresswire.com/ -- According to The Insight Partners new research study, titled "Custom Procedure Kits Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by procedure, product, and type," the market is expected to grow from US$ 6,970.97 million in 2021 to US$ 13,816.53 million by 2028. It is estimated to grow at a CAGR of 10.3% during 2021–2028.

The increasing prevalence of chronic diseases and the rising incidence of cancers and leukemia worldwide have forced the medical industry to perform surgeries. Such factors are likely to drive the custom procedure kits market during the forecast period.

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Custom Procedure Kits Market: Competitive Landscape and Key Developments

Medline Industries, Inc.; Teleflex Incorporated; Owens & Minor Inc.; Medtronic; Cardinal Health, Inc; McKesson Corporation; Smiths Medical; Terumo Cardiovascular Systems Corporation; CPT Medical; OneMed are the leading companies in the custom procedure kits market. In 2021, Owens & Minor, Inc. announced the acquisition of American Contract Systems (ACS), a Minnesota-based provider of kitting and sterilization services for Custom Procedure Tray (CPT) solutions. This is likely to help fulfill customers' needs in surgical procedure trays over the coming years. Custom procedure trays represent a critical component of medical-surgical supplies.

The customized procedure kits contain all the medical equipment needed for a specific surgical procedure. It replaces many individual packages and saves time and money in minor and extensive surgical procedures. Also, the preparation time for surgical procedures can be reduced by half compared to the traditional preparation of the operating room. There are several benefits of custom treatment packages, such as reducing emergency surgery response time, reducing ordering and administrative costs, reducing clinical waste, providing access to various drape manufacturers, eliminating errors, and addressing surgeon preferences. Physician specified kit formula range is developed and assembled in a certified cleanroom environment. They are designed to meet the demanding process requirements of any core specialist. Today, medical manufacturers receive commissions from healthcare institutions to design and assemble specialized kits for all types of medical emergencies. The manufacturer is always looking for support from the medical community on putting together an individual procedure kit more efficiently and cost-effectively.

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Below is the list of the growth strategies done by the players operating in the custom procedure kits market:

Medline Industries, Inc. entered into prime vendor partnership with The University of Kansas Health System to identify new strategies for enhancing supply chain procurement and logistics operations, patient outcomes, and clinical efficiencies. Under the terms of the agreement, The University of Kansas Health System has leveraged Medline’s supply chain optimization and logistical expertise to support resiliency efforts for the region by establishing self-distribution capabilities for the health system and its affiliates.

Owens & Minor Inc. completed the acquisition of American Contract Systems (ACS) a Minnesota-based provider of kitting and sterilization services for Custom Procedure Tray (CPT) solutions. The acquisition strengthens company's ability to meet and exceed customers’ collective needs for surgical procedure trays.

McKESSON CORPORATION entered into an agreement to sell its European businesses in France, Italy, Ireland, Portugal, Belgium, and Slovenia to the PHOENIX group. The transaction also included McKesson’s German-based AG headquarters in Stuttgart, Recucare GmbH, its German wound-care business, its shared services center in Lithuania, and its 45% ownership stake in Brocacef, the company’s joint venture in the Netherlands. The transaction was expected to close in 2022, subject to customary closing conditions, including receipt of required regulatory approvals.

CPT Medical entered into partnership with Hoowaki LLC. According to the agreement Hoowaki is providing their NP Collection Swab with Hoowaki MICROGRIP technology to CPT Medical to be packaged along with CPT Medical’s VTM. These kits were used by healthcare systems and laboratories across the country. Both the VTM and Hoowaki NP Collection Swab are FDA-registered products and organizations and are produced to strict CGMP guidelines.

Based on procedure, the custom procedure kits market has been segmented into bariatric, colorectal, thoracic, orthopedic, ophthalmology, spine surgery, cardiac surgery, and others. The orthopedic segment accounted for the largest share in 2021. However, the bariatric segment is anticipated to register the highest CAGR over the forecast period. The rising demand for bariatric surgical treatment in the US has aided the overall custom procedure kits market in the recent past and is expected to continue a similar trend over the forecast period.

Impact of COVID-19 Pandemic on Custom Procedure Kits Market

Custom procedure devices are vital instruments that help in more or less each surgical procedure taking place in hospitals, clinics, or ambulatory surgical centers. The pandemic has resulted in the rise in infected patients who need surgery as the COVID-19 tends to infect vital organs. This has increased the supply of custom procedure kits. However, supply chain restrictions caused production shortages and import complications in many countries, which resulted in declined usage of these products in 2019 and 2020.

Now, as the pandemic is settling due to restrictive measures adopted by government organizations and people in general, the demand for custom procedure kits has risen. As a result of the coronavirus infection, substantial care has been taken to thoroughly sanitize and disinfect these procedural packs. Even though hospitals are systematically sanitized and disinfected, extra care has been taken to ensure surgeons and other healthcare workers are equipped with personal protection equipment to curb the spread of coronavirus. The COVID-19 pandemic had an overall positive impact on the market, attributable to the vigorous efforts of biopharma and biotech companies to develop diagnostic kits and vaccines against the coronavirus.

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Sameer Joshi
The Insight Partners
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