Medical Device Reprocessing Market To Reach USD 1,754 Million – Current And Future Perspectives 2022

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 global medical device reprocessing market is projected to be valued at USD 823.5 Million in 2017 and is expected to grow at a CAGR of 16.3% during the forecast period to reach to USD 1,754 Million by 2022. Base year considered for the report is 2016.

The key factors driving the growth of this market include the low prices of reprocessed devices as compared to new ones and the pressure to reduce the volume of medical waste generated.

Industry Segmentation:

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. However, the risk of transmission of surgical site infections associated with the use of reprocessed devices may hinder the growth of the market to a certain extent.

Download PDF Brochure@ www.marketsandmarkets.com/pdfdownloadNew.asp?id=583

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.

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.

Geographical Growth:

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 European region is expected to witness the highest CAGR during the forecast period, owing to the rising prevalence of chronic diseases, increasing geriatric population, rising healthcare expenditure, increasing number of surgical procedures, and growing awareness about the usage of reprocessed medical devices

Global Leaders:

In 2016, Stryker Corporation (U.S.) and Johnson & Johnson (U.S.) dominated the global medical device reprocessing market. Some of the other players competing in this market are 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.).

Request Sample Pages@ www.marketsandmarkets.com/requestsampleNew.asp?id=583

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Leave a Reply

Your email address will not be published. Required fields are marked *