Reprocessed Medical Devices Market Research Report - Forecast to 2029 (Includes Business Impact of COVID-19)

  • TBI97999
  • November 28, 2020
  • Global
  • 132 pages
  • Lucintel
                                              

Abstract, Snapshot, Market Analysis & Market Definition: Reprocessed Medical Devices Market

Industry / Sector Trends

Reprocessed medical devices market size was valued at USD 1.3 billion in 2018 and is expected to witness 15% CAGR from 2019 to 2025. U.S.

Market Segmentation, Outlook & Regional Insights: Reprocessed Medical Devices Market

Reprocessed Medical Devices Market, By Product, 2018 & 2025 (USD Million) Reprocessed devices provide reliable patient care along with additional savings in hospital expenditure and advantages to environment will drive reprocess medical device market demand. Costs of reprocessed device are nearly half the cost of new device, thus opting for reprocessed devices can make extra cost savings. Additionally, healthcare industry saves ample amount annually through reprocessing, as it protects cost in medical waste management as well as reduces expenses of buying new device. Various such factors, thereby, augments reprocessed medical devices market growth. Innovation and technological advancements in reprocessed medical devices will assist to be positive impact rendering factor. Manufacturers focus on introducing innovative and technologically advanced medical devices for patient convenience that should foster industry growth. Availability of urology biopsy devices, and balloon inflation devices among others will prove beneficial for the medical device reprocessing market growth. However, poor sterilization practices can increase surgical site infections among patients that may impede reprocessed medical devices industry growth during the analysis timeframe.

Reprocessed Medical Devices Market, By Product

Gastroenterology and urology segment is expected to witness around 14% growth during the forthcoming years. Aim of business players on introduction of technologically advanced gastroenterology biopsy devices and urology biopsy devices will offer segmental growth opportunities. Moreover, increasing geriatric population that are more susceptible to gastrointestinal diseases further augments segmental growth. Orthopedic/arthroscopic segment was valued over 12% revenue share in 2018 and is projected to grow substantially by 2025. Segment growth is attributable to rising elderly population and adults suffering from various bone disorders. Moreover, FDA has setup specific guidelines for improving performance of orthopedic devices. Also, certain measures to eliminate risk of infection caused by orthopedic devices utilized during the surgical procedures will further propel the segment growth.

Reprocessed Medical Devices Market, By End-use

Ambulatory surgical centers (ASCs) segment accounted for more than USD 270 million in 2018 and is probable to witness considerable growth over coming years. Rising number of surgical procedures that can be performed within 24 hours along with increasing adoption of reprocessed medical devices in ambulatory surgical centers drives segment growth. Numerous benefits associated with ASCs over hospitals upsurges the revenue size. Clinics segment held considerable revenue share in 2018 and is estimated to show over 13.5% CAGR during the analysis timeframe. Segment growth is attributable to rising number of clinics with well-equipped surgical equipment along with medical devices. Various benefits such as non-generic prescriptions and immediate appointment scheduling favours overall business growth. Germany Reprocessed Medical Devices Market Size, By End-use, 2018 (USD Million)

Reprocessed Medical Devices Market, By Region

Europe reprocessed medical devices market is estimated to witness around 14.5% CAGR over the forecast period. Technological advancements and growing awareness amongst clinicians and doctors regarding improvised reprocessed medical devices will propel regional growth. Moreover, European Healthcare Associations also adopt various norms and regulations to lower the cost of reprocessed medical devices thus fostering business growth. Asia Pacific reprocessed medical devices industry was valued over USD 200 million revenue in 2018. Regional growth can be attributed to increasing cases of cancer and other viral chronic disorders requiring critical monitoring. Availability, of larger patient pool in Asia Pacific along with increasing awareness regarding reprocessed medical devices boosts reprocess medical device regional growth. Asia Pacific Reprocessed Medical Devices Market Size, By Country, 2025 (USD Million)

Key Players, Recent Developments & Sector Viewpoints: Reprocessed Medical Devices Market

Some of the notable business players operating in reprocessed medical devices market include Medline Industries, Stryker, SureTek Medical, ReNu Medical, Vanguard, Innovative Health, Ethicon, Medtronic, Teleflex, Soma Technology and GE Healthcare. Market players aim at acquisitions, mergers and collaborations to sustain competition in the market.

Recent industry developments:

In September 2018, Vanguard AG acquired Pioneer Medical Devices AG, a Berlin based company to expand reprocessing services for medical device. This acquisition allowed company to expand its reprocessing services for medical device. In October 2018, Stryker acquired Hyper Branch Medical Technology. This strategy enabled the company to gain larger revenue share and broaden its customer base.

Reprocessed Medical Devices Industry Viewpoint

History of reprocessed medical devices can be tracked back in 1880s with introduction of medical devices. Medical device reprocessing occurred two decades ago, due to original equipment manufacturers (OEMs) started to transform the labels on certain devices. Since 1998, specifically the U.S. FDA considered third-party reprocessors of devices labeled for single-use to be manufacturers. Later in 2000s reprocessing started encouraging industry competition thereby, decreasing medical waste and waste clearance costs generated from operating rooms. Strengthening network of distributors along with increasing adoption rate of reprocessed medical devices proves beneficial for the industry growth. Advent of technology in medical devices thus surges the need for reprocessing. Therefore, increasing demand for medical device reprocessing drives industry growth during the coming year

Key Insights Covered: Exhaustive Reprocessed Medical Devices Market

1. Market size (sales, revenue and growth rate) of Reprocessed Medical Devices industry. 2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Reprocessed Medical Devices industry. 3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Reprocessed Medical Devices industry. 4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Reprocessed Medical Devices industry.

Research Methodology: Reprocessed Medical Devices Market

  • Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  • Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  • Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.

1 Report Overview
    1.1 Research Scope
    1.2 Major Manufacturers Covered in This Report
    1.3 Market Segment by Type
        1.3.1 Global Reprocessed Medical Devices Market Size Growth Rate by Type (2019-2025)
    1.4 Market Segment by Application
        1.4.1 Global Reprocessed Medical Devices Market Share by Application (2019-2025)
    1.5 Study Objectives
    1.6 Years Considered

2 Global Growth Trends
    2.1 Production and Capacity Analysis
        2.1.1 Global Reprocessed Medical Devices Production Value 2014-2025
        2.1.2 Global Reprocessed Medical Devices Production 2014-2025
        2.1.3 Global Reprocessed Medical Devices Capacity 2014-2025
        2.1.4 Global Reprocessed Medical Devices Marketing Pricing and Trends
    2.2 Key Producers Growth Rate (CAGR) 2019-2025
        2.2.1 Global Reprocessed Medical Devices Market Size CAGR of Key Regions
        2.2.2 Global Reprocessed Medical Devices Market Share of Key Regions
2.3 Industry Trends
        2.3.1 Market Top Trends
        2.3.2 Market Drivers

3 Market Share by Manufacturers
    3.1 Capacity and Production by Manufacturers
        3.1.1 Global Reprocessed Medical Devices Capacity by Manufacturers
        3.1.2 Global Reprocessed Medical Devices Production by Manufacturers
    3.2 Revenue by Manufacturers
        3.2.1 Reprocessed Medical Devices Revenue by Manufacturers (2014-2019)
        3.2.2 Reprocessed Medical Devices Revenue Share by Manufacturers (2014-2019)
        3.2.3 Global Reprocessed Medical Devices Concentration Ratio
    3.3 Reprocessed Medical Devices Price by Manufacturers
    3.4 Key Manufacturers Reprocessed Medical Devices Plants/Factories Distribution and Area Served
    3.5 Date of Key Manufacturers Enter into Reprocessed Medical Devices Market
    3.6 Key Manufacturers Reprocessed Medical Devices Product Offered
    3.7 Mergers & Acquisitions, Expansion Plans

4 Market Size by Type
    4.1 Production and Production Value for Each Type
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