High prevalence of cardiovascular diseases, and increasing number of FDA approvals for reprocessed cardiovascular products are key factors driving market revenue growth.
Market Size - USD 1,182.3 Million in 2020, Market Growth - CAGR of 15.4%, Market Trends - Increasing technological advancements by various key players for offering cost-effective, efficient, accurate, and user-friendly experience to users.
The global reprocessed medical devices market size is expected to reach USD 3,790.2 Million in 2028, and register a CAGR of 15.4% during the forecast period. Increasing number of surgeries for cardiovascular diseases, coupled with use of various blood pressure monitoring applications are some of the major factors expected to drive demand for reprocessing medical devices to avoid contamination and speedy recovery of patients, thereby driving market growth. Medical device reprocessing includes cleaning, disinfecting, inspecting, sterilizing, and repackaging of used devices so that they can be reused for diagnosis and treatment of other patients.
Reprocessing of medical devices ensures that there is no risk of acquiring infection associated with the devices. Additionally, cost of reprocessed tools can be nearly half of the cost for new devices. Thus, opting for reprocessed devices is economical, and helps in reducing the large volumes of waste materials from healthcare centers. These are other major factors expected to drive growth of the global reprocessed medical devices market.
However, risk of surgical site infections and cost of these medical devices in comparison to other options are major factors that could restrain growth of the global reprocessed medical devices market.
Some Key Findings From the Report:
For the purpose of this report, the global reprocessed medical devices market is segmented on the basis of product type, type of medical device, end use, and region:
Product Type Outlook
Type of Medical Device Outlook
End Use Outlook
Region Outlook
Reasons to Buy the Report
Market Size - USD 1,182.3 Million in 2020, Market Growth - CAGR of 15.4%, Market Trends - Increasing technological advancements by various key players for offering cost-effective, efficient, accurate, and user-friendly experience to users.
The global reprocessed medical devices market size is expected to reach USD 3,790.2 Million in 2028, and register a CAGR of 15.4% during the forecast period. Increasing number of surgeries for cardiovascular diseases, coupled with use of various blood pressure monitoring applications are some of the major factors expected to drive demand for reprocessing medical devices to avoid contamination and speedy recovery of patients, thereby driving market growth. Medical device reprocessing includes cleaning, disinfecting, inspecting, sterilizing, and repackaging of used devices so that they can be reused for diagnosis and treatment of other patients.
Reprocessing of medical devices ensures that there is no risk of acquiring infection associated with the devices. Additionally, cost of reprocessed tools can be nearly half of the cost for new devices. Thus, opting for reprocessed devices is economical, and helps in reducing the large volumes of waste materials from healthcare centers. These are other major factors expected to drive growth of the global reprocessed medical devices market.
However, risk of surgical site infections and cost of these medical devices in comparison to other options are major factors that could restrain growth of the global reprocessed medical devices market.
Some Key Findings From the Report:
- Among the product type segments, the cardiovascular medical devices segment accounted for the largest revenue share of 48.5% in 2020.
- The Asia Pacific market was valued at USD 271.9 Million in 2020, due to increasing medical tourism for surgeries as it costs less in developing countries such as India as compared to developed countries, coupled with need for reprocessed medical devices to avoid any contaminations.
- Key players profiled in the report include Ethicon Inc. (Johnson & Johnson Services, Inc.), GE Healthcare, Innovative Health, Medline Industries, Inc., Medtronic, ReNu Medical, Soma Technolog, Inc., Stryker, SureTek Medical, and Teleflex Incorporated. The market players have adopted various strategies including mergers, acquisitions, partnerships, and new product developments, among other strategies, to stay ahead of the competition and expand market footprint.
For the purpose of this report, the global reprocessed medical devices market is segmented on the basis of product type, type of medical device, end use, and region:
Product Type Outlook
- Cardiovascular Medical Device
- Gastroenterology and Urology
- Orthopedic
- Laparoscopic
- General Surgery Equipment
Type of Medical Device Outlook
- Catheter
- Laparoscopy Instrument
- Cables, Columns, Curves and Cutter
- Biopsy Instrument
- Endoscopy Instrument
- Others
End Use Outlook
- Ambulatory Surgical Center
- Hospital
- Clinic
- Others
Region Outlook
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
Reasons to Buy the Report
- A robust analysis and estimation of the Reprocessed Medical Devices Market with four levels of quality check - in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
- A holistic competitive landscape of the all the major players in the Reprocessed Medical Devices Market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key developments
- Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
- Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
- Special focus given on vendor landscape, supplier portfolio, customer mapping, production capacity, and yearly capacity utilization
Table of Contents
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Reprocessed Medical Devices Segmentation & Impact Analysis
Chapter 5. Reprocessed Medical Devices Market By Product Type Insights & Trends
Chapter 6. Reprocessed Medical Devices Market by Product Type of Medical Device Insights & Trends
Chapter 7. Reprocessed Medical Devices Market By End Use Insights & Trends
Chapter 8. Reprocessed Medical Devices Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles