Reprocessed Medical Devices Market 2022 Top Companies, New Technology, Demand and Opportunity – Stryker Sustainability Solutions, Sterilmed

Precision Business Insights published a research report on “Reprocessed Medical Device Market by Product Type (Cardiovascular Medical Devices, Laparoscopic Medical Devices, Orthopaedic/ Arthroscopic Medical Devices), by End-user (Hospitals, Clinics, Ambulatory Surgical Centres, Community Healthcare, Diagnostic Laboratories, Others) - Global/Region/Country Forecast to 2028”.

The medical gadget life cycle includes reprocessing. Cleaning, sterilising, testing, remanufacturing, disinfecting, packing, and labelling a used, expired, and undamaged medical device to make it patient-ready at a significantly lower cost is known as reprocessing of medical devices. It is a technique or treatment that is performed on medical devices before they are reused. The market is being propelled forward by rising hospital spending on medical gadgets and a high level of medical waste.

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The reprocessed medical devices industry is predicted to develop due to cost effectiveness, equal performance to original equipment, warranty, and availability of suppliers. According to USITC (United States International Trade Commission) figures, remanufactured device output increased by 14% between 2009 and 2011. This can also be ascribed to a large number of medical device remanufacturers expanding their production capability during this time. The recession of 2008-2009 was a driving force behind this expansion, as many patients lost their medical insurance at this time, affecting device reimbursement and, as a result, leading to the adoption of cost-effective devices. Furthermore, the cardiovascular devices segment is anticipated to witness a dominant position in the market in the upcoming years, owing to lower product prices, increased pressure on hospital authorities to reduce healthcare spending, and increased focus on environmental protection by reducing medical waste dumping.

The reprocessing medical device market is classified into six notable segments which are based on the product & service, type, process, devices type, application and end user. In terms of type, the global medical device reprocessing market is segregated into enzymatic and non-enzymatic detergent. In terms of product & services, the global reprocessing medical device market is segmented into reprocessing support and services and reprocessed medical devices. On the basis of process, the global reprocessing medical device market is fragmented into manual cleaning, presoak, automatic cleaning and disinfection. On the basis of devices type, the global reprocessing medical device market is divided into critical devices, non-critical devices and semi-critical devices.

Due to the presence of the largest consumer market with a high GDP, North America is likely to dominate the industry. The medical device reprocessing market in North America is dominated by the North American region, which is predicted to grow at a CAGR of 5.5% during the forecast period due to increased incorporation of PDA guidelines and the trending medical reprocessed devices situation, among other aspects.

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Some of the major key players in the Reprocessed Medical Device Market are Medline ReNewal (U.S.) Johnson & Johnson Services Inc.,(U.S.) Stryker Corporation (U.S.) Vanguard AG (Germany) SteriPro Canada, Inc.(Canada) Pioneer Medical Devices AG (Germany) HYGIA Health Services, Inc. (U.S.) Vascular Solutions, Inc. (U.S.) ReNu Medical, Inc. (U.S.) Centurion Medical Products Corporation (U.S.) SureTek Medical (U.S.)

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