Global Reprocessed Medical Devices Market Industry Analysis Size, In-depth Analysis, Volume, Trend, Growth and forecast 2016-2024

Reprocessing of medical devices refers to the process of inspecting, cleaning, testing, sterilizing and packaging of used and expired medical devices, such that the devices remain effective and safe for suitable clinical application. This study provides the market analysis for various classes and sub-classes of medical devices used for reprocessing. The stakeholders of this report include original equipment manufacturing companies and companies involved in medical device reprocessing and distribution of reprocessed devices as well as new entrants.

Reprocessing is important part of the medical device life cycle, in both developed and developing countries globally. Reprocessing of medical devices is a method of cleaning, testing, disinfecting, remanufacturing, sterilizing, packaging and labeling of a used, expired, and undamaged medical device in order to make it patient-ready and significantly reduced cost. Reprocessing of medical devices in emerging nations is focused on reducing cost of hospital supply, which leads to compromisation with the safety of patients.

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Global Reprocessed Medical Devices market Witness Most Promising Rise in Demand:

According to the report by Transparency Market Research (TMR), the global reprocessed medical devices market registered the revenue of about US$982.7 mn in 2015 and is expected to expand at a CAGR of 14.9 % over the forecast period from 2016 and 2024 to attain the value of around US$3.35 bn by the end of 2024.

The reprocessed medical devices market is segmented on the basis of the type and region. Based on device type, the reprocessed medical devices market is segmented into orthopedic external fixation devices, gastroenterology biopsy forceps, general surgery medical devices, laparoscopic medical devices, and cardiovascular medical devices. Of these, the reprocessed cardiovascular medical devices segment accounted for the dominant share of 61.2% in 2016. This growth of the segment is attributable to the reduced pricing of the products and high usage coupled with growing pressure to reduce healthcare expenditure among hospital authorities. Additionally, increased focus on protecting the environment by reducing medical waste being dumped in landfills is significantly contributing to the growth of the segment.

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Orthopedic external fixation devices have been considered for estimating the market of reprocessed orthopedic devices and biopsy forceps have been considered under gastroenterology devices. Market revenue for reprocessed medical devices as well as total devices has been provided in the report for the period 2014 to 2024 in terms of US$ million, along with CAGR for the forecast period 2016 to 2024, considering 2015 as the base year. In addition, volume data for each of these devices is provided in the report from 2014 to 2024, with a forecast period from 2016 to 2024.

Key Players of Reprocessed Medical Devices Market Report:

Some of the key players operating in the global reprocessed medical devices market includes Centurion Medical Products Corporation, Medline ReNewal, Hygia Health Services, Inc., MidWest Reprocessing Center, Ethicon, Inc. (Johnson & Johnson), ReNu Medical, Inc., Stryker Sustainability Solutions, Inc., Vanguard AG, and SureTek Medical.

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