Frost & Sullivan: Spiralling Procedures and Budgetary Pressures Motivate Uptake of CPTP

Jan. 10, 2012 - PRLog -- 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, Custom Procedure Trays and Packs Market in Western Europe, finds that the market earned revenue of $539.3 million in 2011 and estimates this to reach $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 Senior Research 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 process 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.

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Custom Procedure Trays and Packs Market in Western Europe
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