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Reprocessed Medical Devices Market - Global Industry Analysis

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.

Description

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 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
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 2021 to 2028
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

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Product
        • 2.1.1.2. Market Attractiveness Analysis, By End-user
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Reprocessed Medical Devices Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Reprocessed Medical Devices Market – Product Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Product, 2020 & 2028
    • 4.2. Bacterial Cardiovascular Medical Devices
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Laparoscopic Medical Devices
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Orthopedic/ Arthroscopic Medical Devices
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. General Surgery Medical Devices
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Reprocessed Medical Devices Market – End-user Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By End-user, 2020 & 2028
    • 5.2. Hospitals
      • 5.2.1. Market Size and Forecast, By Region (USD Billion)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Home healthcare
      • 5.3.1. Market Size and Forecast, By Region (USD Billion)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 6 Reprocessed Medical Devices Market – Regional Analysis
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.2.2. North America Market Revenue, By Product, 2016 – 2028
      • 6.2.3. North America Market Revenue, By End-user, 2016 – 2028
      • 6.2.5. U.S.
        • 6.2.5.1. U.S. Market Revenue, By Product, 2016 – 2028
        • 6.2.5.2. U.S. Market Revenue, By End-user, 2016 – 2028
      • 6.2.6. Canada
        • 6.2.6.1. Canada Market Revenue, By Product, 2016 – 2028
        • 6.2.6.2. Canada Market Revenue, By End-user, 2016 – 2028
      • 6.2.7. Mexico
        • 6.2.7.1. Mexico Market Revenue, By Product, 2016 – 2028
        • 6.2.7.2. Mexico Market Revenue, By End-user, 2016 – 2028
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.3.2. Europe Market Revenue, By Product, 2016 – 2028
      • 6.3.3. Europe Market Revenue, By End-user, 2016 – 2028
      • 6.3.5. Germany
        • 6.3.5.1. Germany Market Revenue, By Product, 2016 – 2028
        • 6.3.5.2. Germany Market Revenue, By End-user, 2016 – 2028
      • 6.3.6. France
        • 6.3.6.1. France Market Revenue, By Product, 2016 – 2028
        • 6.3.6.2. France Market Revenue, By End-user, 2016 – 2028
      • 6.3.7. U.K.
        • 6.3.7.1. U.K. Market Revenue, By Product, 2016 – 2028
        • 6.3.7.2. U.K. Market Revenue, By End-user, 2016 – 2028
      • 6.3.8. Italy
        • 6.3.8.1. Italy Market Revenue, By Product, 2016 – 2028
        • 6.3.8.2. Italy Market Revenue, By End-user, 2016 – 2028
      • 6.3.9. Spain
        • 6.3.9.1. Spain Market Revenue, By Product, 2016 – 2028
        • 6.3.9.2. Spain Market Revenue, By End-user, 2016 – 2028
      • 6.3.10. Rest of Europe
        • 6.3.10.1. Rest of Europe Market Revenue, By Product, 2016 – 2028
        • 6.3.10.2. Rest of Europe Market Revenue, By End-user, 2016 – 2028
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.4.2. Asia Pacific Market Revenue, By Product, 2016 – 2028
      • 6.4.3. Asia Pacific Market Revenue, By End-user, 2016 – 2028
      • 6.4.5. China
        • 6.4.5.1. China Market Revenue, By Product, 2016 – 2028
        • 6.4.5.2. China Market Revenue, By End-user, 2016 – 2028
      • 6.4.6. Japan
        • 6.4.6.1. Japan Market Revenue, By Product, 2016 – 2028
        • 6.4.6.2. Japan Market Revenue, By End-user, 2016 – 2028
      • 6.4.7. India
        • 6.4.7.1. India Market Revenue, By Product, 2016 – 2028
        • 6.4.7.2. India Market Revenue, By End-user, 2016 – 2028
      • 6.4.8. South Korea
        • 6.4.8.1. South Korea Market Revenue, By Product, 2016 – 2028
        • 6.4.8.2. South Korea Market Revenue, By End-user, 2016 – 2028
      • 6.4.9. South-East Asia
        • 6.4.9.1. South-East Asia Market Revenue, By Product, 2016 – 2028
        • 6.4.9.2. South-East Asia Market Revenue, By End-user, 2016 – 2028
      • 6.4.10. Rest of Asia Pacific
        • 6.4.10.1. Rest of Asia Pacific Market Revenue, By Product, 2016 – 2028
        • 6.4.10.2. Rest of Asia Pacific Market Revenue, By End-user, 2016 – 2028
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.5.2. Latin America Market Revenue, By Product, 2016 – 2028
      • 6.5.3. Latin America Market Revenue, By End-user, 2016 – 2028
      • 6.5.5. Brazil
        • 6.5.5.1. Brazil Market Revenue, By Product, 2016 – 2028
        • 6.5.5.2. Brazil Market Revenue, By End-user, 2016 – 2028
      • 6.5.6. Argentina
        • 6.5.6.1. Argentina Market Revenue, By Product, 2016 – 2028
        • 6.5.6.2. Argentina Market Revenue, By End-user, 2016 – 2028
      • 6.5.7. Rest of Latin America
        • 6.5.7.1. Rest of Latin America Market Revenue, By Product, 2016 – 2028
        • 6.5.7.2. Rest of Latin America Market Revenue, By End-user, 2016 – 2028
    • 6.6. The Middle-East and Africa
      • 6.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.6.2. The Middle-East and Africa Market Revenue, By Product, 2016 – 2028
      • 6.6.3. The Middle-East and Africa Market Revenue, By End-user, 2016 – 2028
      • 6.6.5. GCC Countries
        • 6.6.5.1. GCC Countries Market Revenue, By Product, 2016 – 2028
        • 6.6.5.2. GCC Countries Market Revenue, By End-user, 2016 – 2028
      • 6.6.6. South Africa
        • 6.6.6.1. South Africa Market Revenue, By Product, 2016 – 2028
        • 6.6.6.2. South Africa Market Revenue, By End-user, 2016 – 2028
      • 6.6.7. Rest of Middle-East Africa
        • 6.6.7.1. Rest of Middle-East Africa Market Revenue, By Product, 2016 – 2028
        • 6.6.7.2. Rest of Middle-East Africa Market Revenue, By End-user, 2016 – 2028
  • Chapter No. 7: Reprocessed Medical Devices Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Technology Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. The Middle-East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter No. 8: Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Reprocessed Medical Devices Market: Company Market Share, 2019
      • 8.1.2. Global Reprocessed Medical Devices Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 8.1.3. Global Reprocessed Medical Devices Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Reprocessed Medical Devices Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Product Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9: Company Profiles
    • 9.1. Stryker Sustainability
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Product Portfolio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
      • 9.1.7. Recent Developments
    • 9.2. SterilMed, Inc.
    • 9.3. ReNu Medical, Inc.
    • 9.4. Midwest Reprocessing Center
    • 9.5. Vanguard AG
    • 9.6. SureTek Medical
    • 9.7. Medline ReNewal
    • 9.8. Hygia Health Services, Inc.
    • 9.9. Centurion Medical Products Corp.
    • 9.10. Company 10
  • Chapter No. 10: Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter No. 11: Research Methodology
    • 11.1. Research Methodology
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Product
FIG NO. 2. Market Attractiveness Analysis, By End-user
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Reprocessed Medical Devices Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Product, 2020 & 2028 
FIG NO. 7. Global Reprocessed Medical Devices Market for Bacterial Cardiovascular Medical Devices, Revenue (USD Billion) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Reprocessed Medical Devices Market for Bacterial Cardiovascular Medical Devices, By Country, 2020 & 2028
FIG NO. 9. Global Reprocessed Medical Devices Market for Laparoscopic Medical Devices, Revenue (USD Billion) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Reprocessed Medical Devices Market for Laparoscopic Medical Devices, By Country, 2020 & 2028
FIG NO. 11. Global Reprocessed Medical Devices Market for Orthopedic/ Arthroscopic Medical Devices, Revenue (USD Billion) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Reprocessed Medical Devices Market for Orthopedic/ Arthroscopic Medical Devices, By Country, 2020 & 2028
FIG NO. 13. Global Reprocessed Medical Devices Market for General Surgery Medical Devices, Revenue (USD Billion) 2016 – 2028
FIG NO. 14. Comparative Revenue Analysis of Reprocessed Medical Devices Market for General Surgery Medical Devices, By Country, 2020 & 2028
FIG NO. 19. Market Revenue Share, By End-user, 2020 & 2028
FIG NO. 20. Global Reprocessed Medical Devices Market for Hospitals, Revenue (USD Billion) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of Reprocessed Medical Devices Market for Hospitals, By Country, 2020 & 2028 
FIG NO. 22. Global Reprocessed Medical Devices Market for Home healthcare, Revenue (USD Billion) 2016 – 2028
FIG NO. 23. Comparative Revenue Analysis of Reprocessed Medical Devices Market for Home healthcare, By Country, 2020 & 2028
FIG NO. 24. Global Reprocessed Medical Devices Market Revenue Share, By Region, 2020 & 2028
FIG NO. 25. North America Reprocessed Medical Devices Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 26. Porter’s Five Forces Analysis for Global Reprocessed Medical Devices Market
FIG NO. 27. PEST Analysis for Global Reprocessed Medical Devices Market
FIG NO. 28. Pricing Analysis for Global Reprocessed Medical Devices Market
FIG NO. 29. Value Chain Analysis for Global Reprocessed Medical Devices Market
FIG NO. 30. Company Share Analysis, 2019
FIG NO. 31. Radar Determinant Chart, 2019
FIG NO. 32. Company Strategic Developments – Heat Map Analysis
FIG NO. 33. Stryker Sustainability Business Segment Revenue Share, 2020 (%)
FIG NO. 34. Stryker Sustainability Geographical Segment Revenue Share, 2020 (%)
FIG NO. 35. Market Channels
FIG NO. 36. Marketing Channel Development Trend
FIG NO. 37. Growth in World Gross Product, 2008-2018
FIG NO. 38. Research Methodology – Detailed View
FIG NO. 39. Research Methodology
 


List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Product
FIG NO. 2. Market Attractiveness Analysis, By End-user
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Reprocessed Medical Devices Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Product, 2020 & 2028 
FIG NO. 7. Global Reprocessed Medical Devices Market for Bacterial Cardiovascular Medical Devices, Revenue (USD Billion) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Reprocessed Medical Devices Market for Bacterial Cardiovascular Medical Devices, By Country, 2020 & 2028
FIG NO. 9. Global Reprocessed Medical Devices Market for Laparoscopic Medical Devices, Revenue (USD Billion) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Reprocessed Medical Devices Market for Laparoscopic Medical Devices, By Country, 2020 & 2028
FIG NO. 11. Global Reprocessed Medical Devices Market for Orthopedic/ Arthroscopic Medical Devices, Revenue (USD Billion) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Reprocessed Medical Devices Market for Orthopedic/ Arthroscopic Medical Devices, By Country, 2020 & 2028
FIG NO. 13. Global Reprocessed Medical Devices Market for General Surgery Medical Devices, Revenue (USD Billion) 2016 – 2028
FIG NO. 14. Comparative Revenue Analysis of Reprocessed Medical Devices Market for General Surgery Medical Devices, By Country, 2020 & 2028
FIG NO. 19. Market Revenue Share, By End-user, 2020 & 2028
FIG NO. 20. Global Reprocessed Medical Devices Market for Hospitals, Revenue (USD Billion) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of Reprocessed Medical Devices Market for Hospitals, By Country, 2020 & 2028 
FIG NO. 22. Global Reprocessed Medical Devices Market for Home healthcare, Revenue (USD Billion) 2016 – 2028
FIG NO. 23. Comparative Revenue Analysis of Reprocessed Medical Devices Market for Home healthcare, By Country, 2020 & 2028
FIG NO. 24. Global Reprocessed Medical Devices Market Revenue Share, By Region, 2020 & 2028
FIG NO. 25. North America Reprocessed Medical Devices Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 26. Porter’s Five Forces Analysis for Global Reprocessed Medical Devices Market
FIG NO. 27. PEST Analysis for Global Reprocessed Medical Devices Market
FIG NO. 28. Pricing Analysis for Global Reprocessed Medical Devices Market
FIG NO. 29. Value Chain Analysis for Global Reprocessed Medical Devices Market
FIG NO. 30. Company Share Analysis, 2019
FIG NO. 31. Radar Determinant Chart, 2019
FIG NO. 32. Company Strategic Developments – Heat Map Analysis
FIG NO. 33. Stryker Sustainability Business Segment Revenue Share, 2020 (%)
FIG NO. 34. Stryker Sustainability Geographical Segment Revenue Share, 2020 (%)
FIG NO. 35. Market Channels
FIG NO. 36. Marketing Channel Development Trend
FIG NO. 37. Growth in World Gross Product, 2008-2018
FIG NO. 38. Research Methodology – Detailed View
FIG NO. 39. Research Methodology
 

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Reprocessed Medical Devices market. Zion Research has collected and analyzed key data belong to the global Reprocessed Medical Devices market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Reprocessed Medical Devices across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Reprocessed Medical Devices industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Reprocessed Medical Devices market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Reprocessed medical devices are devices that can be reprocessed and reused on multiple patients. Reprocessing of the medical devices is the process of disinfection, cleaning, remanufacturing, testing, packaging & labeling, and sterilization of medical equipment.The reprocessing of medical devices has taken the health care sector by storm in recent years.

Global reprocessed medical devices market is expected to exhibit strong growth in the near future on account of increasing significance and need for medical waste disposal. Moreover, a presence of favorable government regulations is expected to boost the market growth in the near future.Increasing investment of industry players in the form of manufacturing facility set up in Asia Pacific is further expected to present with a higher degree of growth in the years to come. However, reluctance in adopting reprocessed medical devices may pose a threat to the market growth in the years to come. Nonetheless, reduced product pricing of reprocessed devices is anticipated to open up new growth opportunities in the near future.

Global Reprocessed Medical Devices Market

The reprocessed medical device market is segmented on the basis of different types such as cardiovascular medical devices, laparoscopic medical devices, orthopedic/ arthroscopic medical devices, gastroenterology medical devices and general surgery medical devices. The cardiovascular was the largest segment and it held more than 55% share of the overall market due to its increasing incorporation in cardiac surgeries, such as diagnostics electrophysiology catheters, and blood pressure cuffs, in a wide range of diagnostic, blood pressure monitoring, and surgical applications in 2015. Laparoscopy was another leading segment on account of the increasing demand for minimally invasive techniques.

On the basis of end-use, reprocessed medical devices market can be segmented into the hospital and home healthcare.The hospital was the leading segment reprocessed medical devices market in 2015 and is expected to continue its dominance in the coming years. This growth is mainly attributed to increasing outsourcing activities for reprocessing to third-party vendors. For instance, according to the study published in PubMed, in the year 2007, the National Institutes of Health, more than 42% of hospitals in the U.S. outsourced reprocessing to third-party reprocessing organizations. Home healthcare is expected to experienced significant growth within the forecast period.

North America dominated the reprocessed medical devices market and accounted for the significant share of the global market in 2015. This growth is mainly due to the high rate of adoption and regulatory policies and government incentives. In terms of revenue, Europe was the second largest market for reprocessed medical devices and is expected to experience substantial growth in the near future. The reprocessed medical devices market in Asia Pacific region is expected to exhibit strong growth owing to rising government support and presence of untapped opportunities in emerging economies. Latin America and the Middle East & Africa are also expected to experience significant growth of reprocessed medical devices market during the forecast period.

Some of the key players in the reprocessed medical devices market such as 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.

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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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