[145 Pages Report] 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.

Objectives of the Study

To define, describe, and forecast the global market with respect to product & service, type of device, application, and region

To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)

To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market

To analyze market opportunities for stakeholders and provide details of the competitive landscape of market leaders

To forecast the size of the market with respect to four main regions�North America, Europe, Asia-Pacific, and the Rest of the World

To profile the key players in the global market and comprehensively analyze their core competencies

To track and analyze competitive developments such as agreements and partnerships, mergers, acquisitions, reprocessed medical device developments, and service launches of the leading players in the global market

Research Methodology

Top-down and bottom-up approaches were used to validate the size of the global medical device reprocessing market and estimate the size of other dependent submarkets. Various secondary sources such as associations (including Food and Drug Administration (FDA), European Association for Medical Device Reprocessing (EAMDR), Association of Medical Device Reprocessors (AMDR), and Canadian Association of Medical Device Reprocessing (CAMDR)), directories, industry journals, databases, and annual reports of the companies have been used to identify and collect information useful for the study ofthis market. Primary sources such as experts from both supply and demand sides have been interviewed to obtainand validateinformationas well as to assess dynamics of this market. The breakdown of profiles of primaries is shown in the figure below:

To know about the assumptions considered for the study, download the pdf brochure

The major players in the global medical device reprocessing market are Stryker Corporation (U.S.), Johnson & Johnson (U.S.), 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.).

Target Audience:

Third-party medical device reprocessors and distributors

Hospitals, clinics, and other healthcare laboratories

Academic and research institutions

Government associations

Market research and consulting firms

Venture capitalists and investors

Scope of the Report:

The research report categorizes the market into the following segments and subsegments:

Medical Device Reprocessing Market, by Product & Service

Reprocessing Support & Services

Reprocessed Medical Device

Medical Device Reprocessing Market, by Type of Device

Catheters

Laparoscopy Instruments

Biopsy Instruments

Endoscopy Instruments

Cables, Columns, Curves, and Cutters

Other Reprocessed Medical Devices

*Other reprocessed medical devices include diathermy, optical lines, ultrasonic clothing, ultrasonic scalpels, patient transferring matt, suture passers, forceps, fall alarms, scissor tips, needles, syringes, external vein stripper, intra-aortic balloon systems, dialysis sets, extraction balloons and baskets, flexible stone dislodge, metal stone dislodge, snare, Hemodialysis blood circuit accessories, umbilical scissors, trans-septal needle, reproduction needle, tube chargers, electrodes, arthroscopic coagulators, and other single-use & reusable medical devices.

Medical Device Reprocessing Market, by Application

Cardiology

Gastroenterology, Urology, and Gynecology

Arthroscopy and Orthopedic Surgery

General Surgery and Anesthesia

Medical Device Reprocessing Market, by Region

North America U.S. Canada

Europe Germany U.K. France Rest of Europe (RoE)

Asia-Pacific Australia Japan

RoW Latin America Middle East & Africa



Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company�s specific needs. The following customization options are available for the report:

Geographic Analysis

Further breakdown of the Rest of European market into the Netherlands, Switzerland, Austria, Portugal, and other European countries

Company Information

Detailed analysis and profiling of additional market players (Up to 5)

The global medical device reprocessing market is projected to reach USD 1,754.0 Million by 2022 from USD 823.5 Million in 2017, at a CAGR of 16.3%. 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.

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. For example, till 2016, the outsourcing of medical device reprocessing was prohibited in France; however, the European Union (EU) Regulations (Article 17), released on April 5, 2017, mandated the use of third-party reprocessing services by all French hospitals. These regulations are expected to be implemented in France by 2020. Similarly, Japan does not currently have any regulations for the reprocessing of single-use medical devices. Therefore, regulatory authorities, such as the Ministry of Health, Labor and Welfare (MHLW) (Japan), in collaboration with the FDA (U.S.), are focusing on generating new medical device reprocessing guidelines for Japan.

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. Based on type of medical device, the catheters segment accounted for the largest share in 2016 and is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increased utilization of reprocessed cardiac catheters, electrophysiology catheters, and diagnostic catheters in recent years. Based on application, the market is further categorized into cardiology; gastroenterology, urology, and gynecology; arthroscopy and orthopedic surgery; and general surgery and anesthesia. In 2016, the cardiology segment accounted for the largest share of the market; this is primarily attributed to the increasing number of cardiology surgeries associated with the growing prevalence of cardiovascular diseases (CVD) across the globe.

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

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.).

To speak to our analyst for a discussion on the above findings, click Speak to Analyst