Overview and Scope
Medical device reprocessing refers to a procedure performed on used and reusable medical devices to safely reuse them on subsequent patients. Reprocessing is typically performed by specialized healthcare facilities or companies with the equipment, expertise, and protocols to ensure the devices are appropriately cleaned and sterilized.
Sizing and Forecast
The medical device reprocessing market size has grown rapidly in recent years. It will grow from $2.09 billion in 2023 to $2.41 billion in 2024 at a compound annual growth rate (CAGR) of 15.3%. The growth in the historic period can be attributed to cost containment pressures, regulatory evolution, increased environmental awareness, demand for single-use device alternatives, hospital budget constraints.
The medical device reprocessing market size is expected to see rapid growth in the next few years. It will grow to $4.28 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to rising demand for sustainable practices, global healthcare spending patterns, increasing focus on value-based care, expansion in emerging markets, consumer confidence and acceptance. Major trends in the forecast period include advanced disinfection techniques, sustainable packaging and material innovation, circular economy initiatives, hybrid reprocessing models, focus on remote reprocessing technologies.
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Segmentation & Regional Insights
The medical device reprocessing market covered in this report is segmented –
1) By Type: Reprocessing support and Services, Reprocessing Medical Devices
2) By Device Category: Critical Devices, Semi-Critical Devices, Non-Critical Devices
3) By Application: Cardiology, Gastroenterology, Gynecology, Orthopedic, General Surgery, Other Applications
4) By End-Use: Hospital, Ambulatory Service Centers, Home Healthcare
North America was the largest region in the medical device reprocessing market in 2023. Europe is expected to be the fastest-growing region in the medical device reprocessing market report during the forecast period. The regions covered in the medical device reprocessing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
An increase in surgical procedures is expected to propel the growth of the medical device reprocessing market going forward. Surgical procedures refer to medical treatment that involves making an incision and using tools to cure or repair disease in a living body. Reprocessing involves removing blood, tissue, and other biological waste from equipment and inactivating infectious microorganisms to ensure that it is clean and safe for the patient who will use it next. For instance, in 2022, according to the British Heart Foundation, a UK-based a cardiovascular research charity, points that in UK surgical procedures, transcatheter aortic valve replacement (TAVR) or transcatheter aortic valve implantation (TAVI), increased from 5676 in 2019/20 to 6328 in 2020/21. Therefore, an increase in surgical procedures is driving the growth of the medical device reprocessing market.
Key Industry Players
Major companies operating in the medical device reprocessing market report are Cardinal Health, Johnson & Johnson Services Inc., Abbott, Medtronic PLC, Danaher, Hill-Rom Holdings Inc., Fresenius Medical Care, Medline Industries Inc., Stryker Corporation, GE Healthcare, Boston Scientific, Fujifilm Medical Systems, Zimmer Biomet, Olympus Corporation, Intuitive Surgical, Hologic, STERIS Healthcare, Getinge AB, Teleflex Inc., Centurion Medical Inc., Vanguard AG, SteriPro, Medivators Inc., Hygia Healthcare LLC, Innovative Health, LUMITOS AG, SureTek Medical, 3M Health Care, ArjoHuntleigh, Northeast Scientific
The medical device reprocessing market report table of contents includes:
1. Executive Summary
2. Medical Device Reprocessing Market Characteristics
3. Medical Device Reprocessing Market Trends And Strategies
4. Medical Device Reprocessing Market – Macro Economic Scenario
5. Global Medical Device Reprocessing Market Size and Growth
…
32. Global Medical Device Reprocessing Market Competitive Benchmarking
33. Global Medical Device Reprocessing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Medical Device Reprocessing Market
35. Medical Device Reprocessing Market Future Outlook and Potential Analysis
36. Appendix
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