The Asia Pacific reprocessed medical devices market is projected to experience substantial growth, reaching a value of US$ 1,639.4 million by 2033. This translates to a promising Compound Annual Growth Rate (CAGR) of 14.4% over the forecast period, according to a recent analysis by FMI.
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Sustainability Drives Market Expansion
A growing focus on reducing medical waste across the Asia Pacific region is a key driver propelling market growth. The sheer volume of medical waste generated in the region highlights the need for sustainable solutions. For example, statistics from China’s National Bureau of Statistics indicate that over two million tons of medical waste were produced in the country alone in 2018. Reprocessing medical devices offers an environmentally friendly alternative to traditional disposal methods.
A Brighter Future for Medical Care
The Asia Pacific reprocessed medical device market presents a promising outlook. Fueled by rising adoption, environmental concerns, and a growing healthcare sector, this market is poised to play a significant role in ensuring access to affordable and sustainable medical equipment across the region.
Top Highlights from the FMI’s Analysis of the Asia Pacific Reprocessed Medical Device Market:
- Japan acquired a 29.4% market share of the Asia Pacific reprocessed medical devices in 2022. The country is projected to account for 11.9% CAGR over the forecast period.
- China follows Japan as the leader in the Asia Pacific market for reprocessed medical devices in 2022, by acquiring an 18.9% value share in 2022.
- South East Asia gained a 15.3% value share in 2022. South East Asia is projected to register CAGR of 14.8% in the forecast period.
- India had the piece of 12.5% market share in the Asia Pacific reprocessed medical devices in the year 2022.
- Australia had an 11.7% market share in 2022. The country is expected to expand at a CAGR of 14.2% over the upcoming years.
- New Zealand had a 2.8% value share in 2022. The country is projected to thrive at 12.9% CAGR over the forecast period.
- China and India are enjoying the most amount of growth in the market, expanding at 18.8% and 18% CAGRs, respectively.
- Based on devices, cardiology devices gained a market share of 59.2% value share in 2022.
- Based on the classification, the semi-critical segment acquired 46.17% market share in 2022.
- Under the reprocessing methods category, third party assisted section gained a 47.51% value share in 2022.
- Based on end users, the hospitals segment acquired 53.64% market share in 2022.
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Innovation Watch: Key Developments in the Market
- Johnson & Johnson Services, Inc. officially declared that DePuy Synthes got the 510(k) clearance from the United States FDA for ATTUNE Total Knee System in January 2021. This VELYS Robotic-facilitated Solution also has clear indications for use. The sales of the product are projected to increase in the present as well as future to meet the surging demand in the market.
- Olympus Corporation unveiled that it introduced the OERElite Automatic Endoscope Reprocessor (AER) in October 2020. The product is designed to deploy AcecideC to clean and sterilize up to two endoscopes concurrently in 28 minutes.
- Cleanpart GmbH launched a quality management system for healthcare devices in April 2020.
Asia Pacific Reprocessed Medical Device Market Key Players:
- Stryker Sustainability Solutions, Inc.
- Medline ReNewal
- Hygia Health Services, Inc.
- Cleanpart GmbH
- ReNu Medical, Inc.
- SureTek Medical
- NEScientific
- Others
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Key Segments in Asia Pacific Reprocessed Medical Device Market are as follows:
By Product Type:
- Gastroenterology Devices
- Cardiology Devices
- Laparoscopy Devices
- Orthopaedic/Arthroscopic Devices
- ENT Devices
- Others
- Pulse Oximetry Sensors
- Ultrasound Catheters
By Classification:
- Critical
- Semi-critical
- Non-critical
By Reprocessing Method:
- In House
- Third-party Assisted
- Non-compliant Reprocessors
By End User:
- Hospitals
- Diagnostic Centres
- Ambulatory Surgical Centres
By Country:
- Australia
- New Zealand
- China
- India
- South East Asia
- Japan
- Rest of Asia Pacific
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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