Analysis of Reprocessed Medical Devices market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The consumption of reprocessed medical devices to rise at an impressive CAGR of 14.9% from 2021 to 2028. In 2020, the global reprocessed medical devices market was worth US$ 2.05 Billion , and the market is anticipated to surge to a valuation of US$ 5.9 Billion by the end of 2028.
Reusable medical devices have seen a rise in demand and preference from several healthcare institutions as they struggle to manage high costs and increasing healthcare expenditure.
Reprocessed Medical Devices Market Size (2020)
US$ 2.05 Billion
Projected Year Value (2028F)
US$ 5.9 Billion
Global Market Growth Rate (2021-2028)
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Increasing healthcare expenditure has led to a paradigm shift in the reprocessing of medical devices, and this trend is expected to be prevalent over the coming years as well. Focus on healthcare has bolstered across the world, and low-income economies have less spending potential, which is promoting the adoption of reusable medical devices. An increase in the popularity of reprocessed single-use medical devices is also expected to favor the shipments of reprocessed medical devices.
Increasing focus on the reduction of medical waste, rising popularity of third-party reprocessing services, growing technological advancements and innovations, and low prices of reusable medical devices are other trends that will influence reprocessed medical device consumption over the coming years.
Increasing instances of hospital-acquired infections (HAIs) across the world have increased the focus on decontamination of medical devices and sterilization of these devices. The emergence of coronavirus infections has bolstered the demand for hygiene in healthcare institutions across the globe.
Single-use medical devices are expected to see a rise in popularity across the forecast period as the focus on decontamination and sterilization increases to avoid the risk of cross-contamination and hospital-acquired infections (HAIs).
From 2021 to 2028, demand for reprocessed medical devices is projected to rise at a stellar CAGR of 14.9%.
Medical waste management is one of the crucial challenges that healthcare systems across the world are struggling to tackle and with the increasing patient pool this issue is expected to be bigger in the near future. In order to reduce medical waste, multiple healthcare institutions, as well as governments, are taking initiatives to boost the use of reusable medical devices.
As demand for reprocessed medical devices will increase it will also subsequently drive the growth of third-party reprocessing services.
Instances of cardiovascular diseases have increased the number of cardiovascular surgeries across the world and these surgeries have seen an extensive rise in the use of reprocessed medical devices. The low cost of these reusable cardiovascular surgery devices is expected to drive their sales.
Another factor that will drive demand in the cardiovascular surgeries segment is the increasing geriatric population that is prone to cardiovascular diseases.
The North America reprocessed medical devices market is anticipated to hold a dominant market share in the global landscape.
Favorable regulatory policies, increasing support from the government, increasing instances of cardiovascular diseases, and rising demand for medical waste management are some of the prime factors that will influence demand for reprocessed medical devices in this region. Sales of reprocessed endoscopes are expected to see a hike across the forecast period.
This region is anticipated to hold a major market share of 40% in the global reprocessed medical devices industry landscape by the end of 2028.
Demand for reprocessed medical devices is expected to be high in the regions of East Asia and South Asia owing to the rising focus on healthcare in these regions.
Developing economies in these regions are seeing a rise in healthcare expenditure, but limited spending potential of these economies is boosting the sales of reprocessed medical devices.
Increasing geriatric population and rising availability of these reusable medical devices are expected to be other factors influencing market potential in these regions.
The U.S. reprocessed medical devices market is anticipated to have a bright outlook over the forecast period owing to the increasing adoption of reprocessed medical devices that are favored by supportive regulatory policies given by the government.
Presence of key reprocessed medical device companies, the rising geriatric population, an increasing number of cardiovascular surgeries, and the good quality of reprocessed medical devices are other factors that will drive the reprocessed medical devices market potential in the nation.
China has seen an increase in the incidence of chronic diseases just like the rest of the world has and this has increased the focus on healthcare in the nation. Government spending on healthcare infrastructure has increased and this is expected to favour reprocessed medical devices market potential in this region.
Increasing geriatric population, the presence of robust manufacturing infrastructure, and the rising availability of reusable medical devices are other factors that will influence reprocessed medical devices market growth through 2028 in China.
The world has witnessed a substantial rise in the incidence of cardiovascular diseases and this has led to an increased demand for cardiovascular devices that are used in surgeries. The world is witnessing a growing geriatric patient pool which is more prone to suffer from cardiac conditions and this will further increase the number of surgeries performed hence driving sales of reprocessed cardiovascular devices across the world.
This segment is anticipated to account for more than 1/2 of the global reprocessed medical devices market share across the forecast period.
In 2020, as coronavirus infections plagued the world, most of the markets toppled under immense pressure and this led to a slowdown of the world economy. To contain the spread of infections, nations across the world implemented lockdowns that made it difficult for businesses to sustain their operations. Especially the manufacturing sector was adversely affected and this resulted in the loss of sales for the reprocessed medical devices market in 2020.
Focus on decontamination of medical devices became of paramount importance during the pandemic and this was further passed on to reprocessed medical device repackaging and labelling of reusable medical devices to ensure their safety. Sales of single-use medical devices and products saw a hike in the pandemic era.
Reprocessed medical device consumption is anticipated to see good growth in the post-pandemic era owing to an increased focus on healthcare and increased healthcare expenditure on a global scale. Increasing focus on healthcare in developing economies is expected to majorly propel reprocessed medical device demand in the post-pandemic era through 2028. Reprocessed endoscopes and reprocessed cardiovascular medical devices are expected to see high demand in the post-pandemic era.
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Key reprocessed medical device market players are focusing on mergers and acquisitions to increase their business scope across the world and increase sales.
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The reprocessed medical devices market is projected to be worth US$ 5.9 Billion by the end of 2028.
Increasing aging population, rising healthcare expenditure, and growing availability of reusable medical devices are major trends that will drive reprocessed medical device sales through 2028.
Sales of reprocessed medical devices are anticipated to increase at an impressive CAGR of 14.9% from 2021 to 2028.
Key reprocessed medical device suppliers are Stryker, Medline Industries Inc., ReNu Medical, LUMITOS AG, Vanguard AG, Johnson & Johnson, Sterilmed Inc., Hygia Health Services Inc., Centurion Medical Products Corporation, Siemens Healthcare, and Philips He
In 2020, the global reprocessed medical devices market was worth US$ 2.05 Billion.
By 2028, the market for reprocessed medical devices in North America is anticipated to account for nearly 40% of the global industry.
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