Reprocessed medical devices are medical devices that are refurbished and put to reuse again. The reprocessing of medical devices involves disinfection, cleaning, remanufacturing, testing, sterilization, packaging, and labeling of the devices in order to put to service again.
Reprocessed Medical Devices Market Conspectus
Global Reprocessed Medical Devices Market Report demonstrated that Reprocessed Medical Devices market is poised to present surging growth during the predicted period from 20,874 million USD in 2019 to reach 80,934 million USD by 2026 with a CAGR of 21.36%. Global economic development, government regulations adjustment, related industry dynamics, industrial upgrading, and competition among market’s participators are some of the key factors that influence the Reprocessed Medical Devices market development. A distinctive and comprehensive picture of Reprocessed Medical Devices is embodied in the report.
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Major Participators Landscape
Major market participators covered in our report are Vanguard AG, SureTek Medical, SterilMed, ReNu Medical, Medline ReNewal, Hygia, Centurion, Moria, Pelion Surgical, Elite Medical, Millennium Surgical, Gsource LLC, Medicon eG, Stryker Company, Sklar, Integra LifeSciences Corporation, Medisiss, Agito Medical A/S, EverX Pvt Ltd, Soma Technology, Inc, Siemens Healthcare, and Block Imaging International. These market players enjoyed broad industry coverage, outstanding operational ability, and strong financial resources. Manufacturers are focusing on product innovation, brand extension, and the introduction of new brands to cater to the preferences of consumers. Some of them will be endowed with vital future while others will show a weak growth during the prospective timeframe.
Market Dynamics Abstract
First and foremost, the market growth is primely attributed to the rising inclination of healthcare professionals towards single-use reprocessed devices (SUDs) as a measure to ensure patient safety by reducing the risk of contracting infections and significant cost reduction. Secondly, favorable initiatives launched by the government is also giving impetus to the Reprocessed Medical Devices market growth. Furthermore, the increasing incidences of chronic conditions that upsurge the adoption rate of surgical procedures, which also propelling market growth. However, the increasing pressure to reduce medical waste on medical organization due to environmental concerns is considered a factor that projected to hinder the market growth.
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Reprocessed Medical Devices Type Abstract
On the basis of the type, the Reprocessed Medical Devices can be segmented into Cardiovascular Devices, Laparoscopic Devices, Gastroenterology Devices, General Surgery Devices, Orthopedic Devices, and Others.
Cardiovascular devices segment occupied the largest Reprocessed Medical Device market share due to its rising incorporation in the cardiac surgeries. Reprocessed cardiovascular devices include diagnostics electrophysiology catheters, blood pressure cuffs, cardiac positioning, and stabilization devices. Laparoscopy segment accounted for the second largest Reprocessed Medical Device market share. This is mainly attributed to the high amount of waste generation as a consequence of the usage of disposable devices. Growing demand for minimally invasive techniques is expected to present opportunities for more reprocessing approvals pertaining to laparoscopy thereby contributing to the growth of this segment. Moreover, the presence of organizations such as ECRI Institute which provide healthcare risk control service to control the risk factors associated with these devices is expected to drive the segment demand over the forecast period.
Reprocessed Medical Devices Application Abstract
The Reprocessed Medical Devices is commonly used into Hospitals, Home-care Settings, Specialty Centers, Medical Laboratories, and Others.
Hospital segment dominated the Reprocessed Medical Device market owing to the increasing pressure to control waste generation & cost reduction. Apart from this, the presence of in-house reprocessing units and rising number of collaborations with third-party reprocessors are responsible to augment the growth during the future period and presenting the industry with lucrative opportunities.
Home-care setting segment is anticipated to witness the fastest growth during the predicted years owing to the rising need for low-cost home equipment. Refurbished home medical equipment includes orthopedic devices, patient monitoring systems, and external support devices which enhance the patient mobility profile at home. Furthermore, the increasing scope for the incorporation of reprocessed products in home healthcare as a consequence of a lesser number of home medical device suppliers is presumed to trigger the growth prospects.
Key Regions Overview
The report covers the major countries analysis in North America, Europe, Asia Pacific, and the rest of the world. Furthermore, policy mobilization, social dynamics, fashion trends, and economic development in these countries are also taken into consideration.
North America dominated the Reprocessed Medical Device market with a share of 35.02% and expected to maintain dominance during the forecast period owing to the advancement of technology in the healthcare industry and awareness towards Reprocessed Medical Device in this region. Europe was the second largest market with a share of 32.78% and also estimated to grow at a stable rate during the coming years. This is mainly attributed to rising government initiatives towards the reduction of medical waste and the introduction of uniform regulations for medical device reprocessing. The Asia Pacific is expected to be the fastest growing region during the forecast period due to developing healthcare infrastructure and reducing the costs of the medical device.
Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Reprocessed Medical Devices Market
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2 Market Trends and Competitive Landscape
3 Segmentation of Reprocessed Medical Devices Market by Types
4 Segmentation of Reprocessed Medical Devices Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Reprocessed Medical Devices Market in Major Countries
7 North America Reprocessed Medical Devices Landscape Analysis
8 Europe Reprocessed Medical Devices Landscape Analysis
9 Asia Pacific Reprocessed Medical Devices Landscape Analysis
10 Latin America, Middle East & Africa Reprocessed Medical Devices Landscape Analysis
11 Major Players Profile
11.1 Vanguard AG
11.1.1 Vanguard AG Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 SureTek Medical
11.3 SterilMed
11.4 ReNu Medical
11.5 Medline ReNewal
11.6 Hygia
11.7 Centurion
11.8 Moria
11.9 Pelion Surgical
11.10 Elite Medical
11.11 Millennium Surgical
11.12 Gsource LLC
11.13 Medicon eG
11.14 Stryker Company
11.15 Sklar
11.16 Integra LifeSciences Corporation
11.17 Medisiss
11.18 Agito Medical A/S
11.19 EverX Pvt Ltd
11.20 Soma Technology, Inc.
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