Reprocessed medical devices are the devices which are restored as well as put to use again. The reprocessing of medical devices entails disinfection, tidiness, re-manufacturing, sterilization, testing, packaging with tagging of the devices with the aim of putting it to service again. The reprocessing of whichever medical device must take after an approved procedure which turns it into fit for utilization. To facilitate reprocessing of the device aspects such as the effectiveness, life cycle, probable risk to the patient and components utilized to produce the device are reflected upon. With the rising healthcare expenditure and the high cost of medical devices is likely to witness huge development over the estimated time frame.
The worldwide market for reprocessed medical devices is estimated to witness strong growth during the estimated period.
Market Segmentation
Based on the product type, the overall market is categorized into general surgery devices, gastroenterology devices, orthopedic devices, laparoscopic devices and cardiovascular devices. The cardiology devices category will be accounting for a value about US$ 700 Million, registering an 18.4% CAGR by the end of the year 2027.
Based on the end user, the overall market is segmented into ambulatory surgical centers, specialty clinics and hospitals. The hospital’s segment is considered to be the biggest segment among others throughout the projection period due to increased implementation rate of these devices globally.
Based on reprocessing method, the worldwide market is divided into non-compliant reprocessors, third-party assisted and in-house.
Based on the classification, the overall market is segmented into Critical, Semi-Critical and Non-Critical.
Based on region the worldwide market for reprocessed medical devices is segmented into seven major regions: Latin America (Brazil, Mexico), North America (Canada, U.S.), Eastern Europe (Russia, Poland), Western Europe (Italy, Germany, U.K, France, Nordic countries, Spain, Netherlands, Belgium, Luxembourg), Japan, APEJ (ASEAN, India, China, Australia & New Zealand) and Middle East and Africa (N. Africa, S. Africa, GCC).North America is likely to remain the biggest market in terms of manufacturing of the reprocessed medical devices. The Western Europe region is the second biggest market during the estimated period. Asia Pacific region on the basis of consumption is projected to witness huge demand for these devices because of the cost-sensitive consumer base in addition to huge population requirement for reasonably priced medical devices. MEA and Latin America regions are moreover likely to witness expansion in the worldwide market for reprocessed medical devices as a result of increased distribution channels along with strategic partnerships of the makers in these regions.
Key Market Players
A few prominent players in the worldwide market for reprocessed medical devices are: Siemens AG, Stryker Sustainability Solutions, Medline Industries Inc., Centurion Medical Products Corporation, Integrity Medical Systems Inc., GE Healthcare, Koninklijke Philips N.V., Others
Queries regarding these research findings can be addressed to Future Market Insights’ analysts at press@futuremarketinsights.com
