Move towards Standardisation and Minimisation of Non-essential Components to Help Manufacturers Sustain Growth
LONDON, May 22, 2012 /PRNewswire-Asia/ -- The highly competitive custom procedure trays and packs market is seeking to increase its profitability through the standardisation and expansion of its product offerings.
New analysis from Frost & Sullivan (http://www.medicaldevices.frost.com), Custom Procedure Trays and Packs Market in Western Europe, finds that the market earned revenue of US$539.3 million in 2011 and estimates this to reach US$909.9 million in 2018.
"The advantages of using custom procedure packs have been the major drivers for the CPTP market since its inception," notes Frost & Sullivan Industry Analyst Beulah Devadason. "The combined advantages of single packaging, storage and single-use components offer cost-cutting measures to hospitals, which are economically stressed due to the prevalent financial situation."
The increasing volume of procedures will boost the adoption of CPTP. This trend will be reinforced by the intense pressure on healthcare authorities to cut costs.
In an effort to contain expenses, tendering processes and e-auctioning practices, have been implemented to acquire products from manufacturers offering the lowest prices.
Though this trend has not had a significant effect on restraining market growth, it has contributed to the market's failure to grow at the high growth rates experienced in previous years.
Manufacturers have responded to this challenge through the adoption of several strategies. These include the standardisation of CPTP and the stripping down of non-essential components.
"Companies are now looking at in-house manufacturing of CPTP components, rather than sourcing them from other OEMs," concludes Beulah Devadason. "This strategy, together with the move towards reducing packaging costs and expanding the distribution structure with stocking capabilities, will guarantee strong revenue growth for market participants."
If you are interested in more information on this study, please send an e-mail with your contact details to Janique Morvan, Corporate Communications, at janique.morvan@frost.com.
Custom Procedure Trays and Packs Market in Western Europe is part of the Medical Devices Growth Partnership Services Programme, which also includes research in the following markets: Western European Decontamination Equipment Market, Western European Gels and Scrubs Market and Hand Hygiene Champions the Cause of Infection Control. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Contact Us: Start the discussion
Subscribe: Newsletter on "the next big thing"
Register: Gain access to visionary innovation
Custom Procedure Trays and Packs Market in Western Europe
M7C3-54
Contact:
Janique Morvan
Corporate Communications - Europe
P: +33-(0)1-42-81-20-37
M: +33-(0)6-79-22-41-42
E: janique.morvan@frost.com
http://www.frost.com
