The global reprocessed medical devices market accounted for US$ 1.6 Bn in 2018 and burgeoning over the forthcoming years. Some of the key factors influencing the market growth include increasing geriatric population, rising acceptance of reprocessed medical devices, innovation and technological improvements in reprocessed medical devices, growing clinical perseverance to decrease the generation of medical waste in hospitals & other healthcare settings and rising preference of healthcare professionals. However, lack of acceptance of reprocessed medical devices is the key factor hampering the market growth.

 

Global reprocessed medical devices market segmented on the basis of product type, end user and region.

 

 

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Cardiovascular Medical Devices dominate the Global Reprocessed Medical Devices Market

 

Based on product type, global reprocessed medical devices market is segmented into cardiovascular medical devices, laparoscopic medical devices and orthopaedic/ arthroscopic medical devices. Cardiovascular Medical Devices held considerable market growth during estimated period. Cardiovascular medical devices save countless lives each year and can dramatically improve the quality of life of millions of people. This continued growth offers significant opportunities for medical device manufacturers. However, the design, development and manufacturing of advanced implantable cardiovascular devices and other high risk medical devices is a complex, time-consuming and investment-intensive process for device manufacturers.

 

Asia Pacific Leads the Global Reprocessed Medical Devices market

 

PBI’s global reprocessed medical devices market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. Asia Pacific accounted for larger revenue share in global reprocessed medical devices market with considerable CAGR. The growth in this region can be attributed to increasing awareness regarding reprocessed medical devices, rising cases of cancer and other cancer diseases. Also, growing investment in healthcare infrastructure is the other factor responsible for the market growth. In addition, North America held significant market share during estimated period owing to favorable government initiatives and presence of stringent regulatory framework in order to ensure patient safety.

 

Strategic Acquisitions are the key strategies adopted by market players

 

Global reprocessed medical devices market further reveals that the key players increasingly accepting strategies such as approvals of the new products, launch of newer products, recurrent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the regions. For Instance, In September 2018, Vanguard AG acquired Pioneer Medical Devices AG to expand reprocessing services for medical device. This acquisition allowed company to enlarge its reprocessing services for medical device.

 

Key player’s profiles in the report are Medline ReNewal (U.S.), Johnson & Johnson (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.) and SureTek Medical (U.S.).

 

Precision Business Insights (PBI) in its report titled “Global Reprocessed Medical Devices Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market.

 

Detailed Segmentation

 

By Product Type                   

• Cardiovascular Medical Devices      

• Cardiac Stabilization and Positioning Devices
• Blood Pressure Cuffs/Tourniquet Cuffs
• Electrophysiology Cables
• Deep Vein Compression Sleeves (DVT)
• Diagnostic Electrophysiology Catheters

• Laparoscopic Medical Devices        

• Harmonic Scalpels
• Endoscopic Trocars and Components
• General Surgery Medical Devices
• Infusion Pressure Bags
• Balloon Inflation Devices

• Orthopaedic/ Arthroscopic Medical Devices

• External Fixation Devices
• Gastroenterology Medical Devices
• Biopsy Forceps

 

By End User              

• Hospitals      
• Clinics         
• Ambulatory Surgical Centres           
• Community Healthcare        
• Diagnostic Laboratories       
• Others          

 

By Geography

• North America

• U.S
• Canada

• Europe

• Germany
• France
• U.K
• Italy
• Spain
• Russia
• Poland
• Rest of Europe

• Asia-Pacific

• Japan
• China
• India
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific

• Latin America

• Brazil
• Mexico
• Argentina
• Rest of Latin America

• Middle East and Africa (MEA)

• Gulf Cooperation Council (GCC) Countries
• Israel
• South Africa
• Rest of MEA

 

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