Global Medical Device Reprocessing Market By Process (Presoak, Manual Cleaning, Automatic Cleaning, Disinfection); Type (Enzymatic & Non-enzymatic Detergent); Application (Surgical Instruments, Endoscope, Ultrasound Probe);End User (Hospitals, Clinics, Diagnostic Centers), Product & Services (Reprocessing Support and Services, Reprocessed Medical Devices; Geography (North America, Europe, Asia-Pacific, Middle East and Africa, South America, Rest of the World) – Industry Trends & Forecast to 2026
Market Analysis: Global Medical Device Reprocessing Market
Global Medical Device Reprocessing Market is expected to rise from its initial estimated value of USD 0.93 in 2018 billion to an estimated value of USD 2.75 billion by 2026, registering a CAGR of 14.50% in the forecast period of 2019-2026. This rise in market value can be attributed to the Increasing number of surgical procedures.
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Market Definition: Global Medical Device Reprocessing Market
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, endoscope and pulse oximeter. By using on patients, reusable devices become soiled and contaminated with microorganisms. To avoid risk of infection by a contaminated device, reusable devices (reprocessing), a detailed, multistep process to clean and then disinfect or sterilize them.
- Low prices of reprocessed medical devices, is going to drive the growth of the market
- Pressure to reduce volume of regulated medical waste is driving the growth of market.
- Creating risk of surgical site infections due to the use of reprocessed devices, act as a restraints to the market.
- Changing regulatory scenario for medical devices act as a restraints to the market.
Segmentation: Global Medical Device Reprocessing Market
- By Process
- Manual Cleaning
- Automatic Cleaning
- By Type
- Enzymatic & Non-enzymatic Detergent
- By Application
- Surgical Instruments
- Ultrasound Probe
- By End-User
- Diagnostic Centers
- By Product & services
- Reprocessing Support and Services
- Reprocessed Medical Devices
Key Developments in the Market:
- In May 2018, Stryker announced the acquisition with Hygia Health Services, Hygia focused on reprocessing devices, this acquisition allow Stryker to better serve customers as a premier provider of sustainability solutions in the global healthcare market.
- In December 2016, Teleflex Incorporated acquired Vascular Solutions, after this acquisition expected to the growth of Teleflex’s vascular with entry into the coronary and peripheral vascular market, as well as increased cross-portfolio selling opportunities to both Teleflex and Vascular Solutions customer bases.
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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, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the medical device reprocessing market are Stryker (US), Johnson & Johnson Services, Inc. (US), VANGUARD AG (Germany), Medline ReNewal (US), Medtronic plc (Ireland), SteriPro (Canada), Medline Industries, Inc. (Germany),Medline Industries, Inc..(US), , ReNu Medical (US), SureTek Medical (US), Centurion Medical Products (US), Agito Medical A/S (Europe), Innovative Health.(US), Nescientific Inc.(USA), , Synergy Health plc (US), GENERAL ELECTRIC COMPANY (US), Siemens Healthcare GmbH(Germany), Soma Technology, Inc.(USA), among others.
Reasons to Purchase this Report
- Current and future of medical device reprocessing market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
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