Global Medical Device Reprocessing Market, By Type (Enzymatic, Non-Enzymatic Detergent), Product and Service (Reprocessing Support and Services, Reprocessed Medical Devices), Process (Presoak, Manual Cleaning, Automatic Cleaning, Disinfection), Devices Type (Critical Devices, Semi-Critical Devices, Non-Critical Devices), Application (Devices, Accessories), End User (Hospitals, Clinics, Home Healthcare, Diagnostic Centers, Manufacturers, Ambulatory Surgical Centers, Others) – Industry Trends and Forecast to 2030.
Medical Device Reprocessing Market Analysis and Size
Electronic data is a rapidly developing adoption in the healthcare IT market. EHR databases and software offer rich resources to enhance precision medicine development. As per the NCHS (National Center for Health Statistics) at the CDC (Center for Disease Control and Prevention), U.S., the EHR adoption by primary care physicians surged from 72.1% in 2013 to 78.6% in 2014, witnessing an increase of 6.5%. All these softwares can be reused without any interruption and is thus helping in market enhancement. Furthermore, the COVID-19 pandemic increased the demand for medical device connections, which boosted the growth and expansion of the market in the future.
Data Bridge Market Research analyses that the medical device reprocessing market, which was USD 3,599.7 million in 2022, would rise to USD 12,726.91 million by 2030 and is expected to undergo a CAGR of 17.10% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Medical Device Reprocessing Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Enzymatic, Non-Enzymatic Detergent), Product and Service (Reprocessing Support and Services, Reprocessed Medical Devices), Process (Presoak, Manual Cleaning, Automatic Cleaning, Disinfection), Devices Type (Critical Devices, Semi-Critical Devices, Non-Critical Devices), Application (Devices, Accessories), End User (Hospitals, Clinics, Home Healthcare, Diagnostic Centers, Manufacturers, Ambulatory Surgical Centers, Others)
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Countries Covered
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U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Stryker (U.S.), Cardinal Health (U.S.), Johnson & Johnson Private Limited (U.S.), Baxter (U.S.), 3M (U.S.), Cantel Medical (U.S.), STERIS (U.S.), EverX (U.S.), Vanguard AG (U.S.), Avante Health Solutions (U.S.), SteriPro (Canada), Getinge AB (Sweden), SureTek Medical (U.S.), SOMA TECH INTL (U.S.), Olympus Corporation (Japan), Medtronic (Ireland), Pioneer Medical Devices AG (Germany)
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Market Opportunities
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Market Definition
Any gadget that is designed to be used for medical purposes is known as a medical device. Reprocessing is performed on a medical device to confirm that it can be safely reused. Medical devices help in diagnosing, treating, and improving patients' health. Cleaning, reconditioning, mending, sterilizing, disinfecting, and refurbishing medical devices are reprocessing.
Global Medical Device Reprocessing Market Dynamics
Drivers
- Increasing Demand for Medical Supplies
There is a rise in the demand for medical supplies globally. In the initial clinical treatment, respiratory support devices such as life support machines, atomizers, oxygen generators, and monitors are major medical devices. It was witnessed that COVID-19 has surged the demand for medical supplies such as personal protective equipment (masks, gloves, and eyeglasses). The increasing need for medical supplies has increased considerably among healthcare professionals. Thus, this factor boosts market growth.
- Increasing Awareness and Initiatives for Reducing Medical Waste
Increasing awareness and campaigns from several non-governmental organizations (NGOs) working to reduce medical waste and grow the recycling measure are anticipated to boost the market growth. For instance, Innovative Health, LLC received approval to reprocess the Philips Eagle Eye Platinum digital IVUS (intravascular ultrasound) catheter in 2022. This clearance successfully marks Innovative Health's entry into the cath lab space. It is a move that will drastically increase the cost savings of hospitals through reprocessing. Thus, this factor boosts market growth.
Opportunities
- Increasing Prevalence of Deep Vein Thrombosis
The high prevalence of diseases such as deep vein thrombosis and pulmonary embolism is anticipated to increase. For instance, according to the June 2022 update of the Centers for Disease Control and Prevalence, deep vein thrombosis (DVT) and pulmonary embolism (PE) may affect as many as 900,000 people annually in the U.S. Still, the accurate number of victims is unknown. Therefore, medical devices are anticipated to grow due to the growing demand for medical devices. Thus, this factor boosts market growth.
- Growing Demand for Reprocessing Medical Devices
The growing demand for reprocessing medical devices will boost the market growth. For instance, Medline Industries, Inc. stated that its Medline ReNewal medical device reprocessing division achieved a milestone after successfully gaining 5.3 million medical devices for reprocessing in 2021, collecting more than a million pounds of waste from the landfills. Thus, these factors are increasing the market growth.
Restraints/Challenges
- Increasing Risk of Surgical Site Infections
The wide use of reprocessed devices imposes a danger of transmission of surgical site infection, hampering the market. Furthermore, the reprocessing procedure is a complicated and technological process that causes multiple infections due to repeated use. Thus, this factor is restricting the market growth.
This medical device reprocessing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the medical device reprocessing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In 2019, Medtronic announced the FDA approval and marketing of the Select Site C304-HIS deflectable catheter system. This system is used in His-bundle pacing processes, and this strategic path increased revenue and enhanced the company's standing in the industry.
- In 2022, the Association of Medical Device Reprocessors launched "Global Regulatory Standards for 'Single-Use' Medical Device Reprocessing and Remanufacturing." It is the first roadmap to assist Notified Bodies, Ministries of Health, and regulatory authorities of medical devices to access its global benefits for hospitals and health systems.
Global Medical Device Reprocessing Market Scope
The medical device reprocessing market is segmented on the basis of type, product and service, process, devices type, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Enzymatic
- Non-Enzymatic Detergent
Product and Services
- Reprocessing Support and Services
- Reprocessed Medical Devices
Process
- Presoak
- Manual Cleaning
- Automatic Cleaning
- Disinfection
Devices Type
- Critical Devices
- Semi-Critical Devices
- Non-Critical Devices
Application
- Devices
- Accessories
End User
- Hospitals, Clinics
- Home Healthcare
- Diagnostic Centers
- Manufacturers
- Ambulatory Surgical Centers
- Others
Medical Device Reprocessing Market Regional Analysis/Insights
The medical device reprocessing market is analyzed and market size insights and trends are provided by type, product and service, process, devices type, application, and end user as referenced above.
The countries covered in the medical device reprocessing market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the medical device reprocessing market because of major market players with high GDP in this region. Furthermore, increasing involvement in PDA guidelines and the latest reprocessed medical devices scenario will enhance this region's market's growth rate. Furthermore, Europe is the fastest-growing region due to the increasing number of chronic diseases, growing elderly population, high healthcare expenditure, and disposable income.
Asia-Pacific is expected to witness significant growth due to major technological advancements for automation and rapidly increasing product usage in this region. Also, the growing awareness associated with reprocessed medical devices is the major factor that surged this region's market growth.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The medical device reprocessing market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for medical device reprocessing market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical device reprocessing market. The data is available for historic period 2011-2021.
Competitive Landscape and Medical Device Reprocessing Market Share Analysis
The medical device reprocessing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to medical device reprocessing market.
Some of the major players operating in the medical device reprocessing market are:
- Stryker (U.S.)
- Cardinal Health (U.S.)
- Johnson & Johnson Private Limited (U.S.)
- Baxter (U.S.)
- 3M (U.S.)
- Cantel Medical (U.S.)
- STERIS (U.S.)
- EverX (U.S.)
- Vanguard AG (U.S.)
- Avante Health Solutions (U.S.)
- SteriPro (Canada)
- Getinge AB (Sweden)
- SureTek Medical (U.S.)
- SOMA TECH INTL (U.S.)
- Olympus Corporation (Japan)
- Medtronic (Ireland)
- Pioneer Medical Devices AG (Germany)
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