Reprocessed Medical Devices Market is Expected to Grow with a CAGR of 14.5% from 2022 to 2028

Reprocessed Medical Devices
  • Reprocessed Medical Devices Market

As stated in our extensive report, providing insights on Product & Service, Type of Device and Application; theGlobalReprocessed MedicalDevicesMarket accounted forUSD 2.1 Billionin 2021.

In order to safely reuse medical devices, reprocessing technology needs to be carried out. This process includes disinfection, sterilization, cleaning, and related procedures. It also includes restoring and testing used devices. Reprocessed medical instruments are used to diagnose or treat multiple patients.

The rising number of surgical procedures, increasing prevalence of chronic diseases, increasing exploitation of low priced Reprocessed Medical Devices over new ones, and rising efforts towards reducing regulated medical waste (RMW) are some of the key parameters that augment the growth of Reprocessed Medical Devices Market in coming years.

The Reprocessed Medical Devices provides a high-cost efficiency feature, that's why it increases the demand for reusable medical devices in the upcoming market. In addition, huge competition in leading players to launch reprocessing medical units in the market. For instance, Innovative Health LLC, an FDA-regulated reprocessing company, got clearance to reprocess Boston Scientific’s INTELLAMAP ORION High-resolution Mapping Catheter. The catheter is widely used in catheter ablation procedures for atrial fibrillation. Also, Northeast Scientific Inc., a leading medical device remanufacturer company, received FDA clearance for reprocessing the.014 Digital Intravascular ultrasound (IVUS) catheter. Thus, all these are responsible for augmenting the growth of Reprocessed Medical Devices Market over the projected time periods.

The COVID-19 outbreak has affected with economic crisis worldwide and created a burden on millions of people and businesses. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. According to World Health Organization (WHO), estimated around 400 million confirmed cases of COVID 19 worldwide with 5.7 million death cases occurred. In the meantime, the medical field is diverted to treat COVID-19 patients. Thus, it reduces Research and Development (R&D) related funding for reprocessing medical devices and subsequently, give a negative impact on Reprocessed Medical Devices Market.

Asia Pacific is projected fastest-growing region for Reprocessed Medical Devices Market in 2021. Growing healthcare expenditure to organize waste disposal and related government initiative by conducting awareness programs on reprocessing of equipment are accelerating the high growth of Reprocessed Medical Devices Market in this region. In addition, rising waste landfills to manage potential damage & waste generation to the environment and availability of stringent regulatory norms to maintain patient safety are fuelling the growth of Reprocessed Medical Devices Market in this region.

Some of the prominent players operating in the Global Reprocessed Medical Devices MarketareSome of the leading players operating in the reprocessed medical devices market include GE Healthcare, Medline Industries, Renu Medical (Arjo), Soma Technology, Stryker, Teleflex Incorporated, Medtronic, Innovative Health, Vanguard AG, Ethicon, and SureTek Medical..