North America Medical Device Reprocessing Market, By Type (Enzymatic, Non-Enzymatic Detergent), Product & Service (Reprocessing Support & Services, Reprocessed Medical Devices), Process (Presoak, Manual Cleaning, Automatic Cleaning, Disinfection), Devices Type (Critical Devices, Semi-Critical Devices, Non-Critical Devices), Application (Devices, Accessories), End User (Hospitals, Clinics, Home Healthcare, Diagnostic Centers, Manufacturers, Ambulatory Surgical Centers, Others), Country (U.S., Canada, Mexico) Industry Trends and Forecast to 2028.
Market Analysis and Insights: North America Medical Device Reprocessing Market
Medical device 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 15.9% in the forecast period of 2021 to 2028 and is expected to reach USD 3,878.21 million by 2028 from USD 1,200.62 million in 2020. Rise in the need of reprocessed medical device to control the expenditure is to be a key driver for the growth of North America medical device reprocessing market.
A medical device is any device intended to be used for medical purposes. The difference between medical devices from an everyday device is its intended use. Medical device helps in diagnosis, treating and improving the health of the patients. Reprocessing is relating to the treatment of materials in order to make them reusable. Reprocessing is regarded as the cleaning, disinfecting, sterilizing, reconditioning, repairing and refurbishing of medical devices.
The demand for the medical device reprocessing market has been increased in both developed as well as in developing countries with the increasing development in reprocessed devices and services and government initiatives to reduce medical devices. The medical device reprocessing market is growing due to the pressure to save expenditure with the rise in crisis and increasing adaptation of medical devices reprocessing. The market will grow in the forecasted period due to the exploration of emerging markets, a strategic initiative to promote a medical device reprocessing system and increasing automated pharmaceutical workflow.
The medical device reprocessing market report provides details of market share, new developments, and 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.
North America Medical Device Reprocessing Market Scope and Market Size
North America medical device reprocessing market is categorized into six notable segments which are based on the type, product & service, process, devices type, application and end user. 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 type, the North America medical device reprocessing market is segmented into enzymatic and non-enzymatic detergent. In 2021, the enzymatic segment is expected to dominate the North America medical device reprocessing market as enzymes reduces most of the micro-organism from the medical devices and ensure safety.
- On the basis of product & service, the North America medical device reprocessing market is segmented into reprocessing support and services and reprocessed medical devices. In 2021, the reprocessed medical devices segment is expected to dominate the North America medical device reprocessing market as these reprocessed medical devices are of lower costs as compare to original.
- On the basis of process, the North America medical device reprocessing market is segmented into presoak, manual cleaning, automatic cleaning and disinfection. In 2021, the automatic cleaning segment is expected to dominate the North America medical device reprocessing market due to the rise in pressure to reduce volume of regulated medical waste.
- On the basis of devices type, the North America medical device reprocessing market is segmented into critical devices, semi-critical devices and non-critical devices. In 2021, the semi-critical segment is expected to dominate the North America medical device reprocessing market due to the rise in medical waste and demand for these devices.
- On the basis of application, the North America medical device reprocessing market is segmented into devices and accessories. In 2021, the devices segment is expected to dominate the North America medical device reprocessing market as these devices leads to significant savings in the healthcare sector.
- On the basis of end user, the North America medical device reprocessing market is segmented into hospitals, clinics, home healthcare, diagnostic centers, manufacturers, ambulatory surgical centers and others. In 2021, the hospitals segment is expected to dominate the North America medical device reprocessing market due to the increase in demand to utilise these devices.
Medical Device Reprocessing Treatment Market Country Level Analysis
The medical device reprocessing market is analysed and market size information is provided by type, product & services, process, device type, application and end user as referenced above.
The countries covered in the North America medical device reprocessing market report are the U.S., Canada and Mexico.
- In North America region, the country U.S. holds the largest share in the medical device reprocessing market and is expected to witness the CAGR during the forecast period due to increasing involvement of increase development workflow, increase in outsourcing medical device reprocessing, and trending bio banking scenario among other factors. The U.S. has the highest spending in the world and offers trade agreements with several countries making it the largest market for consumer products including medical device reprocessing products.
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 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 North America 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.
Strategic Initiatives by Manufactures is Creating New Opportunities for Players in the Medical Device Reprocessing Market
The medical device reprocessing market also provides you with detailed market analysis for every country growth in medical device reprocessing product sales, impact of advancement in the medical device reprocessing and changes in regulatory scenarios with their support for the medical device reprocessing market. The data is available for historic period 2011 to 2019.
Competitive Landscape and Medical Device Reprocessing Market Share Analysis
Medical device 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 breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to medical device reprocessing market.
The major companies providing medical device reprocessing in North America are Stryker, General Electric, Johnson & Johnson Services, Inc., 3M, Cantel Medical, Olympus Corporation, STERIS, Medline Industries, Inc., Medtronic, EverX, Vanguard AG, Avante Health Solutions, SteriPro, Getinge AB, SureTek Medical, SOMA TECH INTL, NEScientific, Inc., Cardinal Health, Renu Medical (a subsidiary of Arjo), INNOVATIVE HEALTH among others among other domestic and North America 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 medical device reprocessing market.
For instance,
- In May 2019, 3M announced their Clean-Trace Hygiene Monitoring and Management System achieved AOAC Performance Tested Method Certification. This evaluation expanded their ATP systems in the market.
- In April 2021, Stryker announces their multiyear national partnership, designating the medical device company as the official smart robotics joint replacement partner of minor league baseball. This partnership gives a solid foundation for growth and reputations.
Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the medical device reprocessing market which also provides the benefit for organisation to improve their offering for medical device reprocessing.
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