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Sales Revenue of Medical Device Reprocessing Market To Surge in Near Future Owing To Rapid Adoption Across Key Industries : Fact.MR

Reusable medical device collecting, cleaning, disinfection, testing, packing, and sterilisation are all part of the medical device reprocessing market. These tools include endoscopes, arthroscopy tools, laparoscopic tools, and others. A growing awareness of infection control, rising healthcare expenditures, and an increase in the use of reusable medical equipment are some of the reasons driving the market. The market is further divided into several forms of reprocessing for medical devices, such as manual and automated reprocessing. Due to its efficacy and efficiency in sanitising and cleaning medical devices, the automated reprocessing sector commands the biggest market share.

In the upcoming years, the desire for affordable healthcare solutions, the increased focus on patient safety, and the expanding use of reusable medical devices will all contribute to the growth of the market for medical device reprocessing.

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Key Segments Covered in Medical Device Reprocessing Industry Research

  • By Product & Service
    • Reprocessing Support & Services
    • Reprocessing Medical Devices
  • By Device
    • Catheters
    • Laparoscopy Instruments
    • Biopsy Instruments
    • Endoscopy Instruments
    • Cables, Columns, Curves and Cutters
  • By Application
    • Medical Device Reprocessing for Cardiology
    • Medical Device Reprocessing for Gastroenterology, Urology, and Gynaecology
    • Medical Device Reprocessing for Arthroscopy and Orthopaedic Surgery
    • Medical Device Reprocessing for General Surgery and Anaesthesia

Key Takeaways from Market Study

  • Market for medical device reprocessing to grow 2.2X in value by 2031.
  • Demand for medical device reprocessing support and services to surge at a CAGR of 15% across the forecast period.
  • North America holds 42% revenue share in the global market.
  • Patient preference towards low-cost reprocessed medical devices is the main factor driving this market.
  • Market for medical device reprocessing in China to expand at a CAGR of 15.2% across the assessment period.
  • Demand for cardiovascular reprocessed devices to remain high over next 10 years.
  • Stryker Corporation and Johnson & Johnson are the top two companies providing medical device reprocessing services.

Key Companies Profiled

  • Stryker Corporation
  • Johnson & Johnson
  • Vanguard AG
  • Medline ReNewal
  • Medtronic plc
  • SteriPro
  • Pioneer Medical Devices AG
  • Vascular Solutions
  • HYGIA Health Services
  • ReNu Medical
  • SureTek Medical
  • Centurion Medical Products Corporation.

Competitive Landscape

  • The Select Site C304-HIS deflectable catheter system was approved by the U.S. FDA and released by Medtronic in May 2019. This technology is utilized in His-bundle pacing procedures (HBP). This tactical choice helped the business increase revenue and solidify its position within the sector.
  • As part of their lineup of cutting-edge adhesives for medical devices, 3M announced in April 2019 that it has added 3M extended wear medical transfer adhesive, 4075. This has allowed the business to diversify its product offering.
  • To improve its reprocessing services for medical devices, Vanguard announced in September 2018 that it has acquired Pioneer Medical Devices AG. This tactic helped the business expand its product line in the international market.

Winning Strategy of Key Market Players

Top companies operating in the industry are focussed on increasing the safety standards of reprocessed medical devices by adding steps such as sterilization and microbial load testing of the devices.  Key companies are investing in research & development activities to further enhance product quality. Many players are also focussing on developing new techniques of remanufacturing and repackaging medical devices.

Growing efforts for reducing regulated medical waste as well as changing regulatory scenario favouring medical device reprocessing in several countries will further create growth opportunities for market players over the coming years.

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