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.
Medline Industries Ltd. and Owens & Minor Inc. – Notable Market Players in Custom Procedure Kits Market
The custom procedure kits market majorly consists of the players such as Medline Industries, Inc.; Teleflex Incorporated; Owens & Minor Inc.; Medtronic; Cardinal Health Inc; McKESSON CORPORATION; Smiths Medical; Terumo Cardiovascular Systems Corporation; CPT Medical; and OneMed amongst others. The companies have been implementing various strategies that have helped the growth of the company and in turn, have brought about various changes in the market. The companies have adopted several inorganic and organic strategies to accelerate their growth and improve their market position.
Below is the list of the growth strategies done by the players operating in the custom procedure kits market:
| Company | Month & Year | Category | Description |
| Medline Industries, Inc. | Feb’22 | Partnership | 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. | Dec’21 | Mergers and Acquisitions | 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. |
| Teleflex Incorporated | Nov’21 | Product News | Teleflex Incorporated initiated a voluntary recall of Arrow-Trerotola Over-The-Wire PTD Kit Percutaneous Thrombolytic Device globally manufactured from October 2019 through July 2021 due to reports received indicating that the PTD’s Inner lumen (orange) detached from the device’s basket. |
| Medline Industries, Inc. | Sep’21 | Partnership | Medline Industries, Inc. entered into USD 40 million prime vendor partnership with Arnot Health to provide an extensive portfolio of essential medical supplies and solutions to three diverse healthcare campuses across the Southern Tier of New York. Under the terms of the agreement, Arnot Health had the ability to easily monitor key metrics such as item utilization, contract compliance and price accuracy, and spend by product categories through an online reporting tool from Medline. |
| McKESSON CORPORATION | July’21 | Strategy and Business Planning | 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. |
| OneMed | Aug’20 | Collaboration | OneMed entered into distribution partnership with Ansell Healthcare Products LLC. The new distribution partnership between Ansell and OneMed which come into effect on September 1st 2020, covers Sweden, Denmark, Norway and Finland. The partnership was Ansell’s latest endeavour to mitigate distribution interruptions across the region caused by the surge in demand led by COVID-19 |
| CPT Medical | July’20 | Partnership | 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. |
| Cardinal Health Inc. | Jan’20 | Product News | Cardinal Health Inc pull off the marke 2.9 million Presource Procedure Packs that the gowns are stored in. Those packs were manufactured between September 2018 and January 2020. The voluntary action includes about 2.5 million procedure packs that were not separated from the affected gown by inner, sealed packaging. In addition, the company is pulling 374,794 procedure packs that were separated from the affected gowns by the packaging because those packs can be over-labeled, which allows the components within the inner, sealed packages to be used after the gown is thrown out. |
| Smiths Medical | Jan’20 | Product Launch | Smiths Medical launched new Polyvinyl Chloride (PVC) tracheostomy tubes and kits portfolio to its family of tracheostomy. The Smiths Medical BLUselect tracheotomy tubes include the various new benefits, and helped the company in the expansion of product portfolio. |
Source: The Insight Partners Analysis, Website, Press Releases and Others
