Asia-Pacific Single Use Medical Devices Reprocessing Market, By Product Type (Class I Devices and Class II Devices), Price Range (High Range and Low/Economy Range), Application (General Surgery, Anesthesia, Arthroscopy and Orthopaedic Surgery, Cardiology, Gastroenterology, Urology, Gynecology and Others), Type (In-House and Outsource), End User (Hospitals, Ambulatory Surgical Centers, Others), Distribution Channel (B2B and B2C), Country (China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific) Industry Trends and Forecast to 2028
Single use medical devices reprocessing market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 17.7% in the forecast period of 2021 to 2028 and is expected to reach USD 1,861.19 million by 2028. Cost effectiveness and environmental sustainability is the major driver which is propelling the market in the forecast period.
Single use medical device (SUD) reprocessing is the process of cleaning, disinfection, sterilization, testing, manufacturing, labelling and packaging medical device to put the device in use again while keeping the functions performed intact. The reuse of single use medical device has several benefits such as it saves cost, efficient waste management, environmentally sustainable, thereby helping the hospitals to save their cost. The use of reprocessed devices is gaining popularity across the globe and it is particularly popular in emerging markets.
Reprocessing enables the healthcare facilities to reuse those devices instead of their usual disposal methods and thus, is helping in waste management and keep the environment sustainable driving the single use medical reprocessing market growth. The transmission of disease or infection associated with the use of reprocessed devices may hamper the growth of the single use medical reprocessing market. The green reprocessing procedure of medical devices is causing minimum damage to environment and hence is acting as an opportunity for the single use medical reprocessing market in coming years. The deviation from the standards or improper cleaning might also lead to chemical residues which might result toxicity in the patient. Besides, these risks, the physical characteristics may also change after reprocessing, put patients at risk and the learning-curve for healthcare practitioners might also decline. Thus, this poses as a handling risk while procedural use and becomes a challenge for the single use medical reprocessing market growth.
The single use medical devices reprocessing market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
The single use medical devices reprocessing market is categorized into six notable segments which are based on the product type, price range, application, type, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the single use medical devices reprocessing market is segmented into class I devices and class II devices. In 2021, class II devices segment is expected to dominate the market due to high technology adoption by the market players.
- On the basis of price range, the single use medical devices reprocessing market is segmented into high range and low/economy range. In 2021, high range segment is expected to dominate the market due to its accurate, reliable and efficient results.
- On the basis of application, the single use medical devices reprocessing market is segmented into general surgery, anesthesia, arthroscopy and orthopaedic surgery, cardiology, gastroenterology, urology, gynaecology and others. In 2021, cardiology segment is expected to dominate the market due to large number of devices getting reprocessed under cardiology.
- On the basis of type, the single use medical devices reprocessing market is segmented into in-house and outsource. In 2021, in-house segment is expected to dominate the market as most of the hospitals are reprocessing the devices in-house.
- On the basis of end user, the single use medical devices reprocessing market is segmented into hospitals, ambulatory surgical centers and others. In 2021, hospitals segment is expected to dominate the market because ultimately these devices are used in hospitals to treat the patients.
- On the basis of distribution channel, the single use medical devices reprocessing market is segmented into B2B and B2C. In 2021, B2B segment is expected to dominate the market because consumers are aware of the channel and preferring this for seeking the benefit of discounts and easy availability of products.
Asia-Pacific Single Use Medical Devices Reprocessing Market Country Level Analysis
The single use medical devices reprocessing market is analysed and market size information is provided by the country, product type, price range, application, type, end user and distribution channel as referenced above.
The countries covered in the single use medical devices reprocessing market report are the China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia and rest of Asia-Pacific.
The China in the Asia-Pacific region is expected to grow with the most promising growth rate in the forecast period of 2021 to 2028 because of major companies foraying into the market such as Stryker and Sterlimed Inc. that are investing in developing reprocessed devices that favor results with high accuracy.
The country section of the single use medical devices reprocessing market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Funding in Research is Creating New Opportunities for Players in the Asia-Pacific Single Use Medical devices Reprocessing Market
The single use medical devices reprocessing market also provides you with detailed market analysis for every country growth in particular industry with single use medical reprocessing sales, impact of advancement in the single use medical reprocessing and changes in regulatory scenarios with their support for the single use medical devices reprocessing market. The data is available for historic period 2011 to 2019.
Competitive Landscape and Asia-Pacific Single Use Medical devices Reprocessing Market Share Analysis
The single use medical devices reprocessing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Asia-Pacific single use medical devices reprocessing market.
The major companies which are dealing in the single use medical reprocessing market are Johnson & Johnson Services, Inc. and Stryker among others domestic and Asia-Pacific players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the single use medical devices reprocessing market.
- In December 2020, Johnson & Johnson Services, Inc. participated in the 39th annual J.P. Morgan Healthcare Conference. This has helped the company to give the correct knowledge about their product and would help to further grow in coming years.
- In November 2020, Stryker completed the acquisition of a medical device company called Wright Medical which has an expertise in manufacturing devices for extremities and biologics. The acquisition will help improve the position of the company in the global market especially in trauma and extremities and will provide new opportunities to innovate and reach out to more end users. This will thus help in the growth of the market.
Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the Single use medical device reprocessing market which also provides the benefit for organisation to improve their offering for single use medical devices reprocessing market.