Reprocessed Medical Devices Market Size, Share | Report 2028

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Reprocessed Medical Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Cardiovascular Medical Devices, General Surgery Medical Devices, Laparoscopic Medical Devices, Orthopedic External Fixation Devices, Gastroenterology Biopsy Forceps, Non-Invasive Devices, And Others); and End User (Hospitals & Clinics, Ambulatory Surgery Centers, Medical Laboratories, And Others)

Publication Month: Feb 2022 | Report Code: TIPHE100001410 | No. of Pages: 158 | Category: Medical Device | Status: Published

The reprocessed medical devices market is projected to reach US$ 5,653.87 million by 2028 from US$ 2,087.36  million in 2021; it is expected to grow at a CAGR of 15.3% from 2021 to 2028.

Reprocessing is an important part of the medical device life cycle. Reprocessing of the medical device is a process of cleaning, sterilizing, testing, remanufacturing, disinfecting, and wrapping as well as labeling a used, expired, and undamaged medical device to make it patient-ready at a much-reduced cost. It is a special process or treatment in preparation for the reuse of medical devices. Increasing hospital expenditures on healthcare devices and a high amount of medical wastage are driving the growth of the reprocessed medical device market.

The report offers insights and in-depth analysis of the reprocessed medical devices market, emphasizing various parameters such as market trends, technological advancements, remanufactured medical device market dynamics, and competitive landscape analysis of leading reprocessed medical devices market players worldwide. It also includes the impact of the COVID-19 pandemic on the market across all the regions. The pandemic has disrupted the socioeconomic conditions of various countries across the world. Presently, the US is the world's worst-affected country due to the COVID-19 outbreak with the highest number of confirmed cases and deaths, as per the recent WHO statistics. The high number of COVID-19 positive cases has negatively impacted the global economies. There has been a decline in overall business activities and growth of various industries operating all around the world.

The rapid spread of the COVID-19 has provided significant momentum to the reprocessed medical device industry in 2020. Following a severe shortage of medical supplies, regulatory agencies such as the Association of Medical Device Reprocessors (AMDR) promoted the reprocessing of healthcare equipment. According to AMDR, the expansion of reprocessing programs could assist healthcare providers to manage COVID-19-related costs, better regulate supply chains, and better planning for future hazards. While the COVID-19 pandemic continues to disrupt economies around the world, the growing volume of medical waste is a huge worry. This emphasizes the need of efficient reprocessing, which can not only help meet supply shortages but also enhance healthcare sustainability. However, with the onset of the outbreak, physicians and patients became more concerned about their safety, hence, raising apprehensions about the reuse of medical devices. This negatively affected demand for reprocessed medical devices. Thus, to overcome these safety concerns, reassuring steps such as sterilization and microbial testing of reprocessed medical devices were made mandatory by various regulatory authorities in the region. Also, the risk of infection in surgeries and inappropriate sterilization of the medical devices can increase the potential outbreaks which hinder the reprocessed medical devices market growth. In addition, the R&D of reprocessing services has been put on hold due to the diversion of professionals to satisfy the demand of pandemic-related products. Thus, owing to the above–mentioned factors, the pandemic has shown a negative impact on the reprocessed medical devices market.

Strategic Insights

Report Coverage - Reprocessed Medical Devices Market
Report CoverageDetails
Market Size Value inUS$ 5,653.87 Million in 2021
Market Size Value byUS$ 2,087.36 Million by 2028
Growth rateCAGR of 15.3% from 2021 to 2028
Forecast Period2021-2028
Base Year2021
No. of Pages158
No. of Tables165
No. of Charts & Figures73
Historical data availableYes
Segments coveredProduct, and End User
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available
 


Market Insights

Rising Importance of Medical Waste Minimization Drives Global Reprocessed Medical Devices Market

Reprocessing is a common practice in the US, where hospitals prefer to reprocess single-use devices to minimize medical waste. About 45% of hospitals have reprocessing agreements with third-party reprocessing medical devices companies in the US.

According to studies, reusing medical devices are a greener initiative, as it produces less medical waste, which is beneficial to the environment. Medical waste clogs landfills and gets expensive to avail bio waste disposal services. In comparison to the disposal of conventional solid waste, regulated medical waste (RMW) costs about 5–10 times higher, resulting in an increase in expenditure. Various health care practitioners have noted that reusable and single-use devices are nearly comparable and proper device reprocessing has no negative consequences for consumers.

RMW, often known as "red bag waste," is a waste expense that typically costs hospitals 6–10 times more than conventional solid waste to dispose of the waste material. With growing initiatives, 95% of the devices are reprocessed annually rather than sent to landfills at the end of their life cycle. Stainless steel, aluminum, titanium, gold, polycarbonate, and polyurethane are among the other re-processable raw materials that end up in a hospital's RMW. Some hospitals have diverted more than 8,000 pounds of RMW from landfills each year by reprocessing, while bigger systems can recycle more than 50,000 pounds. Therefore, the rising importance of medical waste minimization is driving the growth of the global reprocessed medical devices market.

Product - Based Insights

Based on product, the reprocessed medical devices market is segmented into cardiovascular medical devices, gastroenterology biopsy forceps, orthopedic external fixation devices, laparoscopic medical devices, general surgery medical devices, non-invasive devices, and others. In 2021, the cardiovascular medical device segment accounted for a larger share of the overall product market segment. Moreover, the cardiovascular device segment is anticipated to register the highest CAGR in the market during the forecast period, owing to the growing burden of various coronary heart disease for instance stroke and cardiomyopathy.  

Reprocessed Medical Devices Market, by Product – 2021 and 2028

Reprocessed Medical Devices Market, by Product – 2021 and 2028

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End User - Based Insights

Based on end user, the reprocessed medical devices market is segmented into hospitals and clinics, ambulatory surgical centers, medical laboratories, and others. The hospitals and clinics segment held the largest share of the end user market segment in 2021, and the same segment is anticipated to register the highest CAGR of 16.9% of the reprocessed medical device market during the forecast period.

The reprocessed medical devices market players adopt organic strategies such as product launch and expansion to expand their footprint and product portfolio worldwide and meet the growing demand.

By Product

  • Cardiovascular Medical Devices
    • Blood Pressure Cuffs/Tourniquet Cuffs
    • Cardiac Stabilization and Positioning Devices
    • Diagnostic Electrophysiology Catheters
    • Electrophysiology Cables
  • General Surgery Medical Devices
    • Balloon Inflation Devices
    • Infusion Pressure Bags
  • Laparoscopic Medical Devices
    • Endoscopic Trocars and Components
    • Harmonic Scalpels
  • Orthopedic External Fixation Devices
  • Gastroenterology Biopsy Forceps
  • Non-Invasive Devices
    • DVT Garments
    • ECG Leads
    • Pulse Oximeter Probes
    • Air Assisted Transfer Mats
    • Ultrasonic Clothing
    • Extraction Baloons and Baskets
    • Circuit Acessories
    • Optical Lens
    • Other Non-Invasive Devices
  • Others

By End User

  • Hospitals and Clinics
  • Ambulatory surgical centers
  • Medical Laboratories
  • Others

Company Profiles

  • Medline Industries, Inc.
  • Arjo Medical Devices
  • Stryker Corporation
  • Innovative Health
  • Teleflex Incorporated
  • Johnson and Johnson Services, Inc.
  • 3M
  • Currie Medical Specialities, Inc
  • STERIS plc
  • Cardinal Health Inc.
  • Vanguard AG

Frequently Asked Questions

Reprocessing of medical device is a process of cleaning, sterilization, testing, remanufacturing, disinfecting and wrapping as well as labeling of a used, expired and undamaged medical device to make it patent-ready at a much-reduced cost. It is a special process or treatment in preparation for reuse of medical devices.
Key factors that are driving the growth of the reprocessed medical devices market over years are the rising importance of medical waste minimization and growing use of reprocessed single-use devices.
The cardiovascular medical devices segment dominated the reprocessed medical devices market and held the largest market share of 41.97% in 2021.
The hospital and clinics segment dominated the reprocessed medical devices market and held the largest market share of 50.99% in 2021.
The reprocessed medical devices market majorly consists of the players such Medline Industries, LP, Arjo Medical Devices, Currie Medical Specialties, Inc., Stryker Corporation, Teleflex Incorporated, Johnson and Johnson Services, Inc., 3M, STERIS, Vanguard AG, and Cardinal Health among others.
Global reprocessed medical devices market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In North America, the U.S. is the largest market for reprocessed medical devices market. The US is estimated to hold the largest share in the reprocessed medical devices market during the forecast period. The presence of top players and favorable regulations related to product approvals coupled with commercializing new products are the contributing factors for the regional growth. Additionally, the increasing number of R&D activities is the key factor responsible for the Asia-Pacific regional growth for fall management accounting fastest growth of the region during the coming years.

The List of Companies - Reprocessed Medical Devices Market

  1. Medline Industries, LP
  2. Arjo
  3. Currie Medical Specialities, Inc.
  4. Stryker
  5. Innovative Health
  6. Teleflex Incorporated
  7. Johnson and Johnson
  8. 3M
  9. STERIS
  10. Cardinal Health
  11. Vanguard AG
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global reprocessed medical devices market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global reprocessed medical devices market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhancing the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
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