Global Reprocessed Medical Devices Market – Industry Trends and Forecast to 2029

Global Reprocessed Medical Devices Market, By Device Type (Cardiovascular Devices, General Surgery Devices, Laparoscopic Devices, Orthopedic External Fixation Devices, and Gastroenterology Biopsy Forceps), End-User (Hospitals, Home Healthcare, Others) – Industry Trends and Forecast to 2029

Market Analysis and Size

Reprocessed medical equipment have undergone refurbishment and is now suitable for reuse. Disinfection, cleaning, remanufacturing, testing, sterilisation, packaging, and labeling of medical equipment are all reprocessing steps that prepare them for reuse.

Data Bridge Market Research analyses that the reprocessed medical devices market which was USD 2579.49 million in 2021, would rocket up to USD 11931.28 million by 2029, and is expected to undergo a CAGR of 21.10% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Market Definition

Reprocessing a medical device include sterilising, labelling, cleaning, disinfecting, and remanufacturing so that it can be used again. But cleaning must adhere to specified requirements to utilise medical equipment without running the danger of contamination.

Reprocessed Medical Devices Market Dynamics

Drivers

• Technological advancements

The cost-effectiveness of these recycled medical equipment, mounting pressure to reduce medical waste, and rising awareness of such devices in healthcare institutions all significantly contribute to the growth of the global market for reprocessed medical devices. The global market for reprocessed medical equipment is projected to expand as a result of increased demand on healthcare facilities to cut costs. The global market for reprocessed medical devices is anticipated to be driven by technological advances and an increase in the usage of innovative products.

• Growing applications of cardiovascular devices

Cardiovascular devices, general surgical equipment, laparoscopic devices, orthopaedic external fixation devices, and gastroenterology biopsy forceps are some of the medical devices that have been globally reprocessed. The global market for reprocessed medical devices is being driven by the growing applications of cardiovascular devices such as blood pressure cuffs/tourniquet cuffs, cardiac stabilisation and positioning devices, deep vein thrombosis (DVT) compression sleeves, diagnostic electrophysiology catheters, and electrophysiology (EP) cables.

• Increase in adoption of single use reprocessed devices

The global market for reprocessed medical devices is anticipated to rise incrementally due to healthcare professionals' rising preference for single-use reprocessed devices (SUDs) to increase patient safety by reducing the risk of infection and significantly reducing costs. These devices are just as high-quality as the original equipment they replaced, increasing patient safety and fuel demand for them.

Opportunities

The industry is also anticipated to gain from advances in reprocessing technology and an increase in the number of third-party reprocessors. The above-mentioned factors are anticipated to influence the sales of reprocessed medical devices in the near future.

Restraints/Challenges

On the other hand, the high cost of medical devices will slow the market's growth rate. The market will be challenged by a lack of skilled professionals and a lack of healthcare infrastructure in developing economies.

This reprocessed medical devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the reprocessed medical devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Reprocessed Medical Devices Market

Medical device producers haven't avoided the pandemic's effects. Medical device makers, like pharmaceutical firms, heavily rely on healthcare organisations to gather the data for their clinical trials. Before manufacturers may receive certificates for market clearance, the majority of medical device goods must undergo clinical trials before and after they are put on the market. Medical device firms are finding it challenging to make well-informed decisions about their products, supply networks, and regulatory requirements in the midst of uncertainty as the COVID-19 epidemic plays out.

Global Reprocessed Medical Devices Market Scope

The reprocessed medical devices market is segmented on the basis of device type and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Device Type

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

End-user

• Hospitals
• Home Healthcare
• Others

Reprocessed Medical Devices Market Regional Analysis/Insights

The reprocessed medical devices market is analysed and market size insights and trends are provided by country, device type and end-user as referenced above.

The countries covered in the reprocessed medical devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America is expected to account for the largest share of the global reprocessed medical devices market during the forecast period.

Asia-Pacific is anticipated to grow at a lucrative rate due to emerging economies focusing on operating within a controlled budget. 

The country section of the 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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure growth Installed base and New Technology Penetration

The global reprocessed medical devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for global reprocessed medical devices, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the global reprocessed medical devices market. The data is available for historic period 2010-2020.

Competitive Landscape and Reprocessed Medical Devices Market Share Analysis

The reprocessed medical devices 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to reprocessed medical devices market.

Some of the major players operating in the reprocessed medical devices market are:

• Stryker (U.S.)
• Medline Industries Inc. (U.S.)
• ReNu Medical (U.S.)
• LUMITOS AG (Germany)
• Vanguard AG (U.S.)
• Johnson & Johnson Private Limited (U.S.)
• Sterilmed Inc. (U.S.)
• Hygia Health Services Inc. (U.S.)
• Siemens (Germany)
• Koninklijke Philips N.V. (Switzerland)
• General Electric (U.S.)
• Suretech Medical Inc. (India)
• Medisiss (U.S.)
• Agito Medical (Denmark)
• Soma Tech INTL (U.S.)