Reprocessed Medical Devices Market Size, Share, Growth Report 2030

Reprocessed Medical Devices Market

Reprocessed Medical Devices Market by Product (Bacterial Cardiovascular Medical Devices, Laparoscopic Medical Devices, Orthopedic/ Arthroscopic Medical Devices, and General Surgery Medical Devices), By End-user (Hospitals and Home healthcare): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Published Date: 23-Aug-2021 Category: Medical Device Report Format : PDF Pages: 155 Report Code: ZMR-172 Status : Published

The global Reprocessed Medical Devices market accounted for USD 3.1 Billion in 2020 and is expected to reach USD 16.3 Billion by 2028, growing at a CAGR of around 20.1% between 2021 and 2028.

Reprocessed Medical Devices Market

Market Overview     

The global Reprocessed Medical Devices market accounted for USD 3.1 Billion in 2020 and is expected to reach USD 16.3 Billion by 2028, growing at a CAGR of around 20.1% between 2021 and 2028.      

Reusable medical devices can be reused by healthcare services providers to diagnose as well as to treat multiple patients. Such medical devices include surgical forceps, stethoscopes, and endoscopes. Reprocessing of such devices removes tissue, blood, and other biological debris and inactivates infectious microbes so that devices are safe for the patient.

The key players in reprocessed medical devices market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the reprocessed medical devices market study.

In a major breakthrough witnessed across reprocessed medical devices industry, in August 2018, Cantel Medical made public that it acquired Stericycle Inc.'s controlled environment solutions business for USD 17 million. Reports state that the strategic decision was based on the firm’s objective of expanding its life sciences portfolio.

COVID-19 Impact Analysis  

The global Reprocessed Medical Devices market has witnessed a growth during the pandemic. This is mainly attributed to the fact that the COVID-19 pandemic situation has led to the rise in demand for public health surveillance and clinical care. However, the rising difficulty in health care delivery has slightly challenged the market in 2020.

However, the market would remain bullish in upcoming year.  The growth of the global Reprocessed Medical Devices market size is estimated on the basis of the COVID-19 outbreak. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.

Global Reprocessed Medical Devices Market Size

Growth Factors

Growing requirement for medical waste disposal and favorable government policies are expected to boost the development of reprocessed medical devices market. Apart from this, mounting concerns pertaining to high volume of landfills & wastes produced across the globe is projected to favorably influence the global demand for reprocessed medical devices. High product demand from hospitals as well as home healthcare sector is likely to expand the business sphere over the next few years.

Reluctance in accepting the reprocessed products, however, can obstruct the industry growth over the ensuing years. Nevertheless, low costs of reprocessed equipment are forecast to open new vistas for reprocessed medical devices market over the coming years, normalizing the impact of hindrances on the reprocessed medical devices market.

Report Scope:  

Report Attribute Details
Base Year 2022
Historic Years 2018 - 2022
Forecast Years 2023 - 2030
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2023 to 2030
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Segment Analysis Preview  

The main products available in this reprocessed medical devices market are cardiovascular medical devices, arthroscopic medical devices, laparoscopic medical devices, and general surgery medical devices. Among them, the demand for cardiovascular medical devices is relatively higher and the trend is anticipated to remain so over the next few years. This is due to rising number of cardiovascular surgeries & treatments that are bolstering need for cost-efficient alternatives. In addition to this, the advent of low-cost and single-use cardiovascular reprocessed devices resulted in upsurge in adoption; hence, contributing to the overall segment growth.

Regional Analysis Preview  

Regionally, North America has been leading the worldwide reprocessed medical devices market and is anticipated to continue on the dominant position in the years to come, states the reprocessed medical devices market study. High product acceptance rate and favorable government initiatives supporting the production of reprocessed medical devices is the main factor behind the dominance of the North America reprocessed medical devices market. The high number of market players being headquartered in North America is another yet significant factor that is supporting this regional reprocessed medical devices market.

Global Reprocessed Medical Devices Market Share

Key Market Players & Competitive Landscape

Some of the major players of the global Reprocessed Medical Devices market include Stryker Sustainability, SterilMed, Inc., ReNu Medical, Inc., MidWest Reprocessing Center, Vanguard AG, SureTek Medical, Medline ReNewal, Hygia Health Services, Inc., and Centurion Medical Products Corp. among others.

 Global Reprocessed Medical Devices Market Regional Analysis

The global Reprocessed Medical Devices Market is segmented as follows:

By Products

  • Bacterial Cardiovascular Medical Devices
    • Blood Pressure Cuffs/Tourniquet Cuffs
    • Cardiac Stabilization And Positioning Devices
    • Compression Sleeves (DVT)
    • Diagnostic Electrophysiology Catheters
    • Electrophysiology Cables
  • Laparoscopic Medical Devices
    • Endoscopic Trocars And Components
    • Harmonic Scalpels
  • Orthopedic/ Arthroscopic Medical Devices
    • External Fixation Devices
    • Gastroenterology Medical Devices
    • Biopsy Forceps
  • General Surgery Medical Devices
    • Balloon Inflation Devices

By End-user

  • Hospitals
  • Home healthcare

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

Free Analysis

FrequentlyAsked Questions

The global Reprocessed Medical Devices Market was valued at USD 3.1 Billion in 2020.

The global Reprocessed Medical Devices Market is expected to reach USD 16.3 Billion by 2028, growing at a CAGR of 20.1% between 2021 to 2028.

Some of the key factors driving the global Reprocessed Medical Devices Market growth are growing requirement for medical waste disposal and favorable government policies.

North America is expected to remain the dominant region over the forecast period. North America followed by Asia-Pacific and Europe in terms of demand for Reprocessed Medical Devices.

Some of the major players of global Reprocessed Medical Devices market Stryker Sustainability, SterilMed, Inc., ReNu Medical, Inc., MidWest Reprocessing Center, Vanguard AG, SureTek Medical, Medline ReNewal, Hygia Health Services, Inc., and Centurion Medical Products Corp. among others.

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