Research Nester has recently announced new market demand assessment research titled “Reprocessed Medical Device (Equipment) Market – Global Demand Analysis & Opportunity Outlook 2021”. The global market study provides a granular data and in-depth analysis on the current and future market situations that are crucial for the existing &new players in the market. The industry research is based on key factors like demand & supply analysis, commercial activities, research investments, pricing analysis, government initiatives & guidelines, driving forces in the market, roadblocks and segmentation based on the product viability.
Reprocessing medical devices are those that go under several processes of inspecting, cleaning, testing and sterilizing such that the devices remain active and safe for suitable clinical applications.
However, continuous increase in medical wastes along with lack of support for waste disposal in healthcare industry raises the burden on environment further leads to deterioration of environmental conditions. These factors lead to environmental hazards and further raise the health concerns. Apart from this, reprocessing of medical devices helps the healthcare industry to reduce the cost of diagnosis and treatment. It is also beneficial from the consumers end in the near future. High level of cost savings as absence of material cost of the reprocessed medical devices likely to help the hospitals to minimize the pressure to control costs and meet sustainability goals.
The global reprocessed medical device market is expected to reach USD 4.95 Billion by 2021 from USD 0.76 Billion in 2013 and it is expected to grow at a CAGR of 19.55% over the forecast period i.e. 2015-2021.
The global market of reprocessed medical device market is expected to grow exponentially as government initiatives are expected to rise in the near future globally. Europe reprocessed medical device market is expected to grow at a CAGR of 14.7% over the forecast period i.e. 2015-2021 and remain the second highest share contributor in terms of revenue. Rise in government initiatives towards reduction of medical waste and introduction of uniform regulations for medical device reprocessing is expected to drive the growth for reprocessed medical device industry across the European region.
Increase in demand for reprocessed medical devices is expected to rise over the forecast period i.e. 2015-2021; driven by need to minimize the cost of clinical applications and diagnosis process to provide better and safe medical services.
High volume of medical waste generation and rising concern towards landfill is expected to adopt reprocessed medical devices by the hospitals and small clinics in the near future. In addition to that, the key factors such as low-cost, safe for clinical applications etc. are likely to spur the demand for reprocessed medical devices across the globe during the forecast period 2015-2021.
Furthermore, rising preferences by physicians towards single use reprocessed medical devices in order to maintain safety measures for patients along with significant reduction in medical waste to open new avenues for the reprocessed medical devices in near future.
Analysis By Device Type
- Multi class combination products
- Cardiovascular Medical Devices
- Laparoscopic Medical Devices
- Orthopedic/ Arthroscopic Medical Devices
- General Surgery Medical Devices
- Gastroenterology Medical Devices
The key manufacturers of reprocessed medical devices across the globe as follows:
- Vanguard AG
- SureTek Medical
- Stryker Sustainability
- ReNu Medical
- Medline ReNewal
- North America (United States / U.S., Canada)
- Latin America (Mexico, Brazil, Rest of Latin America)
- Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia, Poland, Rest of Eastern Europe)
- Asia-Pacific (China, India, Singapore, Japan, Australia & New Zealand & Rest of Asia)
- Rest of World
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