Medical device reprocessing practices are regulated by various regional regulatory authorities. Changing regulatory scenario favoring medical device reprocessing in a number of countries, like France & Japan, will open up new areas of opportunity for players.
The global medical device reprocessing market is estimated to grow at a CAGR of 16.3% from 2017 to 2022, to reach USD 1,754 million by 2022. Key factors driving growth of this market include low prices of reprocessed devices as compared to new ones & pressure to reduce volume of medical waste generated. This growth can be attributed to increased utilization of reprocessed cardiology catheters, electrophysiology catheters, & diagnostic catheters in recent years.
Full details on this report “Medical Device Reprocessing Market” spread across 145 Pages, Profiling 12 Companies and Supported with 75 Tables and 24 Figures is now available at http://www.reportsnreports.com/reports/1072480-medical-device-reprocessing-market-by-product-reprocessed-device-catheter-endoscope-laparoscopic-instruments-biopsy-pulse-oximeter-service-application-cardiology-gastroenterology-arthroscopy-orthopedic-st-to-2022.html .
In medical device reprocessing market reprocessing support and services segment expected to witness highest growth during forecast period. Growth of this segment mainly due to growing preference of third-party reprocessing of medical devices by hospitals, clinics, surgical centers, clinical pathologies, & healthcare organizations, over in-house reprocessing practices. Catheters segment to dominate global medical device reprocessing market during forecast period
Target Audience of Medical Device Reprocessing Market is As Follows:
- 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
Report analyzes medical device reprocessing market by product & service, type of medical device, application, & region. On basis of product & service, reprocessing support & services segment accounted for largest share in 2016, owing to increased adoption of third-party reprocessing services over in-house reprocessing services by hospitals, clinics, surgical centers, clinical pathologies, & healthcare organizations.
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The growth of medical device reprocessing market majorly driven by increased utilization of 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 growing prevalence of chronic diseases. Risk of transmission of surgical site infections associated with use of reprocessed devices may hinder growth of medical device reprocessing market to a certain extent.
Break of primary participants was as mentioned below:
- By Company Type – Tier 1–45%, Tier 2–40% and Tier 3–15%
- By Designation – C-level–41%, Director Level–30%, Others–29%
- By Region – North America–38%, Europe–31%, Asia-Pacific–19%, RoW–12%
Some of major market players in 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., 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.).
Connect for More Details for Discount and More Information “Medical Device Reprocessing Market by Product (Reprocessed Device (Catheter, Endoscope, Laparoscopic Instruments, Biopsy, Pulse Oximeter), Service), Application (Cardiology, Gastroenterology, Arthroscopy, Orthopedic, Anesthesia) – Global Forecast to 2022” report @ www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=1072480 .
The medical device reprocessing market is further classified into catheters; laparoscopic instruments; biopsy instruments; endoscopy instruments; cables, columns, curves, and cutters; and other reprocessed medical devices. The catheters segment is expected to grow at the highest CAGR during the forecast period.
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.