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Global Surgical Kits Market to Reach US$22.7 Billion by the Year 2026

Surgical Kits form a highly valued part of healthcare practice, as they facilitate improved efficiency and productivity while performing a surgical procedure or while providing patient care. These kits and trays include all dedicated tools and elements specific to a procedure at one place which ensures easy and quick access to required tools, and further simplify the logistics process. These kits also reduce the risk of human error during a procedure. Growth in the global market is led by factors such as rise in number of surgical procedures amid mounting cases of chronic medical conditions and increasing geriatric population that is highly vulnerable to different types of diseases requiring surgical interventions. These factors are pushing the number of hospital admissions and surgeries across healthcare settings. In addition, the increasing focus and demand for minimally-invasive surgeries is expected to augment overall use of surgical kits. In addition, increasing number of different types of surgeries in other regions is expected to result in a large number of hospital admissions. Future expansion of the market is poised to be favored by ongoing technological advancements and increasing investments by companies in R&D activities to develop and introduce advanced products. Boasting sophisticated features, these innovative surgical kits are anticipated to drive efficiency in operating rooms and find broader uptake among medical professionals.

Amid the COVID-19 crisis, the global market for Surgical Kits estimated at US$18.2 Billion in the year 2022, is projected to reach a revised size of US$22.7 Billion by 2026, growing at a CAGR of 6.8% over the analysis period. Disposable, one of the segments analyzed in the report, is projected to grow at a 8.2% CAGR to reach US$17.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Reusable segment is readjusted to a revised 3.7% CAGR for the next 7-year period. This segment currently accounts for a 33.9% share of the global Surgical Kits market. Disposable surgical kits encompass surgical products, disposable blood donor kits and drapes used for delivery kits. These kits are garnering increasing attention on account of their cost-efficient nature, ability to mitigate the infection risk for surgical interventions and eliminate the need to clean surgical instrument. Disposable kits assist surgical centers and healthcare facilities in achieving higher productivity while improving patient outcomes.

The U.S. Market is Estimated at $6.6 Billion in 2022, While China is Forecast to Reach $1.9 Billion by 2026

The Surgical Kits market in the U.S. is estimated at US$6.6 Billion in the year 2022. The country currently accounts for a 38.6% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$1.9 Billion in the year 2026 trailing a CAGR of 9.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.7% and 6.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.7% CAGR while Rest of European market (as defined in the study) will reach US$1.8 Billion by the end of the analysis period. Asia-Pacific is expected to spearhead growth in the global market during the period. India and China, the two most populous countries, pose great opportunities for the medical market, and prepackaged medical kits and trays is no exception. Key market drivers in the emerging economies include large groups of patients in need of medical procedures and tests, growing awareness among people, increasing investment in R&D and healthcare infrastructure. Other major factors driving growth in the market include rise in aging population, improvement in healthcare infrastructure, and standardization of procedures. The market is, however, restrained by the lack of trained professionals. Development of kits and trays with better characteristics and innovative designs could offer good opportunities for the prepackaged medical trays and kits market. The latest trends in this market include shift in the focus of manufacturers towards using disposable materials.