Medical device reprocessing is a critical part of healthcare delivery and patient safety. The reprocessing of medical devices helps to reduce costs, improve patient outcomes, and reduce environmental waste. The global medical device reprocessing market is expected to grow at a compound annual growth rate (CAGR) of 13.7 percent from 2022 to 2027, reaching a market size of $3.9 billion by 2027.
The global medical device reprocessing market is driven by factors such as the increasing demand for medical device reuse and the need to reduce healthcare costs. The rising prevalence of chronic diseases and the need for advanced medical devices are also driving the growth of the market.
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Key Highlights:
- In 2022, Innovative Health, LLC has received clearance to reprocess the Philips Eagle Eye Platinum digital IVUS (intravascular ultrasound) catheter. This clearance effectively marks the company’s entry into the cath lab space, thereby expanding the company’s medical device reprocessing market reach in cardiology applications.
- In 2022, Medline ReNewal opened a new distribution center in Southaven, Mississippi. The facility serves major hospitals, nursing homes, and military facilities in the region. The company invested in expanding its storage and distribution capacity in Mississippi to meet the product needs of its healthcare customers. Over USD 350.0 million in annual orders are expected to be handled from the Southaven facility.
The market is segmented based on product type, end-user, and region. By product type, the market is segmented into single-use devices, disposables, and reusable devices. Among these, the single-use devices segment is expected to have the largest share due to their increasing demand in the healthcare industry. By end-user, the market is segmented into hospitals, ambulatory surgery centers, and others.
Regionally, the medical device reprocessing market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. Among these, North America is expected to have the largest share due to the increasing demand for cost-effective solutions, technological advancements, and the presence of major market players in the region.
Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on RD strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
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Key Market Players:
The prominent players in the medical device reprocessing market are Stryker Corporation (US), Johnson Johnson (US), Vanguard AG (Germany), Medtronic PLC (Ireland), Steris Healthcare (US), Medline ReNewal (US), Innovative Health (US), Arjo Group (ReNu Medical, Inc.) (Sweden), SteriPro Canada, INC. (Canada), Northeast Scientific, INC. (US), Cardinal Health (Sustainable Technologies) (US), and SureTek Medical(US).
Stryker Corporation (US) provides medical device reprocessing services and reprocessed medical devices through its Sustainability Solutions business, under the MedSurg Neurotechnology business division. The company focuses on expanding its service portfolio and geographic reach through acquisitions.
The study categorizes the Medical Device Reprocessing Market based on type, device category, application, and regional level.
By Type
- Reprocessing Support Services
- Reprocessed medical devices
By Device Category
- Critical Devices
- Semi- Critical Devices
- Non- Critical Devices
By Application
- Cardiology
- Gastroenterology
- Gynecology
- Arthroscopy Orthopedic Surgery
- General Surgery and Anesthesia
- Other Applications (Urology, non-invasive surgeries, patient monitoring)
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
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