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[2021] At 17.5% CAGR Australia Reprocessed Medical Devices Market to Hit Remarkable Value By 2027 – Stryker Sustainability Solutions, Inc., Medline ReNewal, Hygia Health Services, Inc.

May 11th, 2021 Coherent Market Insights Releases

SEATTLE, May 11, 2021, (MEDGADGET) — Overview:

Reprocessed medical devices are products that continue with recurring procedures and are reused. Reprocessing is a validated process, which is using for a medical device that has been either used or is contaminated. The Reprocessing of a single used item or renewable device takes steps such as cleaning, disinfection, and sterilization.

Statistics:

Australia reprocessed medical devices market is estimated to be accounted around US$ 119.7 Mn in terms of value by the end of 2027.

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Drivers:

Use of reprocessed medical devices leads to significant savings in the healthcare sector, which is expected to drive growth for such devices, thereby propelling growth of Australia reprocessed medical devices market during the forecast period. For instance, according to Association of Medical Device Reprocessors, reprocessing medical devices originally labeled for single use saved hospitals and surgery centers around US$ 500 million in 2018.

Moreover, introduction of quality management systems for medical devices is also expected to robust growth of Australia reprocessed medical devices market. For instance, in April 2020, Cleanpart GmbH introduced a quality management system for medical devices according to DIN EN ISO 13485:2016.

Statistics:

Cardiology Devices expected to hold dominant position in Australia reprocessed medical devices market in 2019, accounting for 51.7% share in terms of value, followed by Gastroenterology Devices, and Laparoscopy Devices, respectively.

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Restraints:

The risk of cross-contamination and hospital-acquired infections is expected to hamper growth of the Australia reprocessed medical devices market. Lack of strict recycling regulations can lead to increasing levels of contamination and infections due to the use of these devices.

Moreover, a negative perception of reprocessed medical devices is also expected to slow Australia reprocessed medical devices market growth. It is often seen that reprocessed medical devices are inferior to new devices in terms of safety, efficiency and product quality. However, evidence and studies showing how reprocessed medical devices are safe and effective, negative perceptions about the use to continue.

Opportunities: 

Reduced product price of reprocessed medical devices is expected to provide propel growth opportunities for major players in Australia reprocessed medical devices market. Reprocessed medical devices are sells for about half the price of a new device (e.g., the cost of new EP diagnostic catheters ranges from US$ 400 to US$ 600, while the cost of re-tested EP catheter can cost around US$ 200 to -US$ 300).

Moreover, strengthening the distribution network is expected to drive growth of Australia reprocessed medical devices market.

View Press Release For More Information @ https://www.coherentmarketinsights.com/press-release/australia-reprocessed-medical-devices-market-3488

Statistics:

Australia reprocessed medical devices market is estimated to be valued around US$ 34.6 Mn in 2019 and the forecast is estimated to reach a value at US$ 119.7 Mn by 2027 and is expected to register a CAGR of 17.5% over the forecast period (2020-2027).

Market Trends/Key Takeaways:

Manufacturers of large medical devices focus on investing in reprocessed medical devices. For instance, in April 2019, NEScientific Inc. and ReNu Medical, Inc. joined The Association of Medical Device Reprocessors. Similarly, in November 2018, Cardinal Health also joined the association.

In Australia, hospitals and third-party reprocessors of single-use medical devices are need to adhere to the same regulatory standards as the original manufacturer. Moreover, hospitals and third reprocessors of single-use medical devices are required to demonstrate that the reconstituted devices are equally safe and can work as well as the original device.

Regulations:

  • In South Australia, medical devices labelled “Single use only” must not be reprocesses. However, a product labelled as “Single Patient Use” may be reprocessed or reused.
  • The regulatory authorities for the reproduction of devices labeled “single use” are complied with the Therapeutic Goods Act 1989, Therapeutic Goods Regulations 2002 and Therapeutic Goods Regulations 1990.
  • If the device has been redesigned or manufactured it must include the product use instructions being considered in accordance with Essential Principle 13.4 of the Regulations details the Australian requirements for Instructions for Use.

 Competitive Landscape:

Key players dominating in Australia reprocessed medical devices market such as, Stryker Sustainability Solutions, Inc., Hygia Health Services, Inc., Medline ReNewal, Cleanpart GmbH, SureTek Medical, ReNu Medical, Inc., and NEScientific.

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Key Developments:

Key players in Australia reprocessed medical devices market are focusing on adoption of M&A strategies to expand their product portfolio. For instance, in 2018, Stryker Corporation acquired the U.S.-based Hygia Health Services Inc., a company focused into reprocessing patient care single-use devices

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Device
      • Market Snippet, By Classification
      • Market Snippet, By End User
      • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Highlights
    • Product launch
    • PEST Analysis
    • Technological Advancements
    • Regulatory Scenario
    • Mergers and Acquisitions
    • COVID19 Impact on the market
  4. Australia Reprocessed Medical Devices  Market, By Device, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Gastroenterology Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Cardiology Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Laparoscopy Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Orthopedic/ Arthroscopic Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • ENT Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  5. Australia Reprocessed Medical Devices  Market, By Classification, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Critical
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Semi – Critical
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Non – Critical
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. Australia Reprocessed Medical Devices  Market, By End User, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Diagnostic Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Ambulatory Surgical Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  7. Competitive Landscape
    • Company Profiles
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact
About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.

To know more about us, please visit our website – www.coherentmarketinsights.com

Contact:

Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
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India: +91-848-285-0837

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