The Global Medical Device Reprocessing Market is expected to grow at a CAGR of 14.90% during the forecast period of 2017 to 2024.
“Global Medical Device Reprocessing Market” By Product Type {Reprocessed Device (Catheter, Endoscope, Laparoscopic Instruments, Biopsy, Pulse Oximeter), Service}, Application (Cardiology, Gastroenterology, Arthroscopy, Orthopedic, General Surgery, Anesthesia), End User (Hospitals, Clinics, Ambulatory Surgical Centers, Community Healthcare, Diagnostic Laboratories, Others), Geography (North America, South America, Europe, Asia-Pacific, and Middle East and Africa)
The upcoming market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Global Medical Device Reprocessing Market – Key Market Points:
The growth of this market is majorly driven by increasing number of surgical procedures, growing prevalence of chronic diseases, use of the low priced reprocessed medical devices as compared to new devices and increasing pressure to reduce medical waste due to environmental concerns. Various regional regulatory authorities are regulating the reprocessing practices. Due to the changing regulatory scenario for medical devices many new opportunities have come up for the market players in countries such as France and Japan. Lack of proper disposal mechanisms along with the continuous increase of medical waste is also the major driver for the medical devices reprocessed market. The increasing investments by the companies from India and China will boost the market in APAC with substantial growth.
Global Medical Device Reprocessing Market Definition:
This market report defines the market trends and forecast the upcoming opportunities and threats of the pharmaceutical packaging equipment market in the next 8 years. Medical device reprocessing is the process of cleaning, remanufacturing and disinfection of the medical devices so that those devices can be reused or to be put in service again. The reprocessed devices are biopsy, catheter, and endoscope and pulse oximeter.
Major Market Drivers and Restraints:
- Increasing pressure to reduce medical waste due to environmental concerns
- Low prices of reprocessed devices as compared to new ones
- Increasing number of surgical procedures
- Growing prevalence of chronic diseases
- Changing regulatory scenario for medical devices.
- Due to the use of reprocessed devices there is a risk of surgical site infections
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Global Medical Device Reprocessing Market Segmentation:
The global medical device reprocessing market is segmented based on product type, application, end user, and geography.
Based on product type the global medical device reprocessing market is segmented into reprocessed device and service.
On the basis of application, the global medical device reprocessing market is classified into cardiology, gastroenterology, arthroscopy, orthopedic, general surgery, and anesthesia.
On the basis of end user, the global medical device reprocessing market is segmented into hospitals, clinics, ambulatory surgical centers, community healthcare, diagnostic laboratories and others.
Based on geography, the global pharmaceutical packaging equipment market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and, Brazil among others. In 2017, North America is expected to dominate the market.
Global Medical Device Reprocessing Market Competitive Analysis
The global medical device reprocessing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of medical device reprocessing market for global, Europe, North America, Asia Pacific and South America.
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Major Market Competitors/Players
Some of the major players operating in the global medical device reprocessing market are Stryker Corporation, Johnson & Johnson, VANGUARD AG, Medline ReNewal, Medtronic plc, SteriPro, Pioneer Medical Devices, VASCULAR SOLUTIONS, INC., HYGIA Health Services, ReNu Medical, SureTek Medical, Centurion Medical Products, Agito Medical A/S, Innovative Health Llc., Nescientific Inc., Rene Medical Inc., ReNu Medical Inc., Synergy Health plc, GE Healthcare, Midwest Reprocessing Centre, Siemens Healthcare GmbH, Soma Technology, Inc., Steril Med Inc., among others.
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