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(Health-NewsWire.Net, July 25, 2020 ) According to the new market research report “Medical Device Reprocessing Market by Product (Reprocessed Device (Catheter, Endoscope, Laparoscopic Instruments, Biopsy, Pulse Oximeter), Service), Application (Cardiology, Gastroenterology, Arthroscopy, Orthopedic, Anesthesia) – Global Forecast ” published by MarketsandMarkets™
The global medical device reprocessing market is projected to reach USD 1,754.0 Million by 2022 from USD 823.5 Million in 2017, at a CAGR of 16.3%.
The medical device reprocessing includes cleaning, disinfection, inspection, sterilization, and repackaging of used medical devices for its reuse to diagnose and treat multiple patients. The reprocessing practices are regulated by various regional regulatory authorities. The changing regulatory scenario favoring medical device reprocessing in a number of countries, such as France and Japan, will open up new areas of opportunity for market players
Medical Device Reprocessing Market, by Application
Cardiology
Gastroenterology, Urology, and Gynecology
Arthroscopy and Orthopedic Surgery
General Surgery and Anesthesia
By the Product & Service, the market is primarily split into :
Reprocessing Support & Services
Reprocessed Medical Device
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Drivers:
1. Low Prices of Reprocessed Medical Devices
2. Pressure to Reduce Volume of Regulated Medical Wast
The growth of this market is majorly driven by the increased utilization of the low priced reprocessed medical devices as compared to new devices, increased efforts towards reducing regulated medical waste (RMW), and rising number of surgical procedures associated with the growing prevalence of chronic diseases.
The report analyzes the market by product & service, type of medical device, application, and region. On the basis of product & service, the reprocessing support and services segment accounted for the largest share in 2016, owing to the increased adoption of third-party reprocessing services over in-house reprocessing services by hospitals, clinics, surgical centers, clinical pathologies, and other healthcare organizations
The geographical regions mapped in the report are:
1. North America
2. Europe
3. Asia-Pacific (APAC)
4.RoW
Geographically, the global medical device reprocessing market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. In 2016, North America dominated the market, and this is primarily attributed to its well-established healthcare industry, growing prevalence of chronic diseases, and increasing volume of surgical procedures.
The key manufacturers in this market include:
The major players in the global medical device reprocessing market are Stryker Corporation (U.S.), Johnson & Johnson (U.S.), Vanguard AG (Germany), Medline ReNewal (U.S.), Medtronic plc (Ireland), SteriPro Canada, Inc.(Canada), Pioneer Medical Devices AG (Germany), Vascular Solutions, Inc. (U.S.), HYGIA Health Services, Inc. (U.S.), ReNu Medical, Inc. (U.S.), SureTek Medical (U.S.), and Centurion Medical Products Corporation (U.S.).
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MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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