Reprocessed Medical Devices Market Pegged for Robust Expansion During 2017-2027
In the report, titled “Reprocessed Medical Devices Market: Asia-Pacific Industry Analysis and Opportunity Assessment, 2017-2027,” Future Market Insights has compiled several factors that are impacting the dynamics of Asia-Pacific’s reprocessed medical devices market. Rising focus of government authorities towards dumping of medical waste or biowaste is slated to promote the reprocessing of medical devices. Manufacturers of medical devices are continuously striving to control their product costs for recording greater sales. Reprocessed medical devices, thus, become the most feasible option for both, manufacturers and end-users (hospitals). Availability of reprocessed medical devices at low prices, coupled with assurance of qualitative production, has also prompted the market’s growth to a considerable extent.
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Cardiology Devices Getting Reprocessed at Higher Rate
The report reveals that in 2016, more than US$ 100 Mn worth of reprocessed medical devices turned out to be used in the field of cardiology. Demand for reprocessed cardiology devices is expected to continue surging in the years to come, registering the highest revenue CAGR of 18.4%. Reprocessing will also gain traction among laparoscopic tools & devices, revenues from which are predicted to reach US$ 111 Mn by 2027-end. Meanwhile, orthopaedic or arthroscopic devices, gastroenterology devices, ENT devices and other such medical devices will be showcasing a comparatively steady growth in terms of revenues.
Key highlights from the research findings are as follows:
By the end of 2027, one of every two reprocessed medical devices sold in Asia-Pacific will be classified under semi-critical medical devices. This indicates that demand for reprocessing is higher for semi-critical medical devices, as opposed to critical or non-critical medical devices.
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The most prominent method of reprocessing medical devices, observed across Asia-Pacific, is likely to be third-party reprocessing. Third parties assisting drugmakers in reprocessing businesses is serving as a consolidator for Asia-Pacific’s reprocessed medical devices market.
The report has identified hospitals as the largest end-user of reprocessed medical devices in Asia-Pacific. Similarly, diagnostic centres and ASCs will also contribute significantly, by exhibiting revenues growth at more than 11% CAGR.
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Furthermore, the report has profiled leading reprocessed medical device manufacturers partaking in the Asia-Pacific region. Companies such as Stryker Sustainability, Medline ReNewal, Hygia Health Services, Inc., CLEANPART HEALTHCARE, ReNu Medical, Inc., SureTek Medical, and NEScientific.
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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.
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