Medical Device Reprocessing Market Regional Revenue, Growth and Trends Analysis 2020-2028| Top Leading Players Stryker Corporation, Johnson & Johnson, Vanguard AG, Medline ReNewal, Medtronic plc, SteriPro Canada, Inc

Global Medical Device Reprocessing Market to Grow Rapidly due to Increasing Application in Healthcare Sector

Increased use of low-priced reprocessed medical equipment relative to new devices, increased attempts to minimize controlled medical waste (RMW), and an increasing number of surgical procedures associated with the incidence of chronic diseases are the key drivers of the growth of this industry. The risk of transmission of surgical site infections associated with the use of reprocessed instruments, however, may to some degree impede the growth of the industry.

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A major growth factor for the industry is the growing therapeutic imperative to minimize the production of medical waste in hospitals and other healthcare settings. The related benefits such as high-cost reliability, high demand to increase the use of reprocessed medical devices are a significant influence that makes the reprocessed industry a growth engine. In contrast with the manufacturing costs involved with the production of initial equipment, the above consideration can be due to low cost reprocessing combined with the growing need to curtail spending on medical waste disposal.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Stryker Corporation
2. Johnson & Johnson
3. Vanguard AG
4. Medline ReNewal
5. Medtronic plc
6. SteriPro Canada, Inc.
7. Pioneer Medical Devices AG
8. Vascular Solutions, Inc.
9. HYGIA Health Services, Inc.
10. ReNu Medical, Inc.

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Growth Drivers that Support the Global Medical Device Reprocessing Market:
• Increased approvals from the FDA for reprocessed cardiovascular products lead to a large share of the market. As a consequence of constant efforts by industry players to encourage reprocessing techniques through strategic alliances and regular FDA approvals, this segment is also expected to expand lucratively. The demand for these goods is anticipated to increase in the future due to the above reasons.
• The largest geographic market was dominated by North America. A big factor in this region is the growing need to minimize waste generation and possible environmental harm due to the increasing waste landfills in this region. The development of this area is motivated by increased demand to curtail healthcare spending, combined with the scarcity of facilities for proper waste disposal.
• It is predicted that favorable government policies to encourage understanding of equipment reprocessing would provide this industry with substantial opportunities for growth. It is expected that the presence of a strict regulatory system to ensure patient protection would extend the basis for quality reprocessed devices.
• Leading to the widespread use of these items in cardiovascular surgery and diagnostics, the cardiovascular category held the highest percentage. This instruments include cuffs for blood pressure, devices for heart positioning and stabilization, measuring blood pressure, cables for electrophysiology, and catheters for diagnostic electrophysiology.
• The growing number of cardiovascular surgeries and therapies, resulting in demand for the segment, reinforces the need for cost-effective alternatives. In addition, the introduction of low-cost and single-use reprocessed cardiovascular instruments has contributed to accelerated usage, thereby leading to the overall growth of the market.
Companies are Keen to Expand their Foot Print in the Global Market
• In May 2018, Stryker announced the acquisition of Hygia Health Services with Hygia focusing on reprocessing devices, allowing Stryker to better serve patients in the global healthcare industry as a leading supplier of sustainability solutions.
• Following this merger, Teleflex Integrated acquired Vascular Solutions in December 2016, which predicted the growth of Teleflex vascular with penetration into the coronary and peripheral vascular market, as well as expanded cross-portfolio distribution potential to both the consumer bases of Teleflex and Vascular Solutions.

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Reasons to Buy This Report:
• Provides niche insights for decision about every possible segment helping in strategic decision making process.
• Market size estimation of the medical device reprocessing market on a regional and global basis.
• A unique research design for market size estimation and forecast.
• Identification of major companies operating in the market with related developments
• Exhaustive scope to cover all the possible segments helping every stakeholder in the medical device reprocessing market.

Market Segmentation:
By Product:
• Reprocessed Device

o Catheter
o Endoscope
o Laparoscopic Instruments
o Biopsy
o Pulse Oximeter
• Service

By Application:
• Cardiology
• Gastroenterology
• Arthroscopy
• Orthopedic
• Anesthesia

By Region:
• North America
o North America, by Country
 US
 Canada
 Mexico
o North America, by Product
o North America, by Application

• Western Europe
o Western Europe, by Country
 Germany
 UK
 France
 Italy
 Spain
 The Netherlands
 Rest of Western Europe
o Western Europe, by Product
o Western Europe, by Application

• Asia Pacific
o Asia Pacific, by Country
 China
 India
 Japan
 South Korea
 Australia
 Indonesia
 Rest of Asia Pacific
o Asia Pacific, by Product
o Asia Pacific, by Application

• Eastern Europe
o Eastern Europe, by Country
 Russia
 Turkey
 Rest of Eastern Europe
o Eastern Europe, by Product
o Eastern Europe, by Application

• Middle East
o Middle East, by Country
 UAE
 Saudi Arabia
 Qatar
 Iran
 Rest of Middle East
o Middle East, by Product
o Middle East, by Application

• Rest of the World
o Rest of the World, by Country
 South America
 Africa
o Rest of the World, by Product
o Rest of the World, by Application

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