With 15.3 % CAGR Asia Pacific Reprocessed Medical Devices Market Size to Surpass around US$ 1,235.5 Million by 2028 | Stryker Sustainability Solutions, Inc., Medline ReNewal, Hygia Health Services

Asia Pacific Reprocessed Medical Devices Market Analysis

Medical devices that have undergone reprocessing and have since been utilized again are referred to as reprocessed products. A medical equipment that has been used or is contaminated can be reprocessed using a validated process. Medical equipment reprocessing entails cleaning, sanitization, and sterilization.

Asia Pacific reprocessed medical devices market is estimated to be valued at US$ 376.2 million in 2021 and is expected to exhibit a CAGR of 15.3 % over the forecast period (2021-2028).

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Recent Developments:

In order to create single-use therapeutic solutions for flexible medical endoscopy, PENTAX Medical (a branch of HOYA Group) and Jiangsu Vedkang Medical Science & Technology Co., Ltd. created PENTAX Medical Therapeutics (Jiangsu) Co., Ltd. on May 31, 2021.

The OERElite Automatic Endoscope Reprocessor was introduced, according to an announcement made by Olympus Company in October 2020. (AER). It is intended to clean and disinfect up to two endoscopes concurrently in 28 minutes using AcecideC, a disinfectant based on peracetic acid.

Cleanpart GmbH implemented a quality management system for medical devices in accordance with DIN EN ISO 13485:2016 in April 2020.

In terms of volume, Japan retained the top spot in the market for reprocessed medical devices in the Asia Pacific region in 2020, with a share of 30.5%. South East Asia and China came in second and third, respectively. Growing adoption is the main driver of market expansion, and high unmet medical requirements are anticipated to accelerate market expansion in Japan.

Asia Pacific Reprocessed Medical Devices Market: Drivers

In order to create single-use therapeutic solutions for flexible medical endoscopy, PENTAX Medical (a branch of HOYA Group) and Jiangsu Vedkang Medical Science & Technology Co., Ltd. created PENTAX Medical Therapeutics (Jiangsu) Co., Ltd. on May 31, 2021.

The OERElite Automatic Endoscope Reprocessor was introduced, according to an announcement made by Olympus Company in October 2020. (AER). It is intended to clean and disinfect up to two endoscopes concurrently in 28 minutes using AcecideC, a disinfectant based on peracetic acid.

Cleanpart GmbH implemented a quality management system for medical devices in accordance with DIN EN ISO 13485:2016 in April 2020.

In terms of volume, Japan retained the top spot in the market for reprocessed medical devices in the Asia Pacific region in 2020, with a share of 30.5%. South East Asia and China came in second and third, respectively. Growing adoption is the main driver of market expansion, and high unmet medical requirements are anticipated to accelerate market expansion in Japan.

Asia Pacific Reprocessed Medical Devices Market: Competitive Landscape

Stryker Sustainability Solutions, Inc., Medline ReNewal, Hygia Health Services, Inc., Cleanpart GmbH, ReNu Medical, Inc., SureTek Medical, and NEScientific are significant market participants in the Asia Pacific region for reprocessed medical devices.

Asia Pacific Reprocessed Medical Devices Market: Key Developments

Leading industry companies are concentrating on implementing M&A strategies to increase the scope of their product offering. For instance, in 2018, the Stryker Corporation bought the US company Hygia Health Services Inc., which specializes in reprocessing single-use medical equipment.

ReNu Medical Inc., a business that specializes in environmentally friendly reprocessing for single use non-invasive medical devices, was purchased by the American company Arjo in 2018.

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Report Attribute	Details
The market size value in 2021	USD 376.2 Million
The revenue forecast in 2028	USD 1,235.5 Million
Growth Rate	CAGR of 15.3%
The base year for estimation	2020
Historical data	2017 to 2020
Forecast period	2021 to 2028
Growth Drivers:	Increasing focus on reducing medical waste Increasing use of reprocessed medical devices
Restraints & Challenges:	Risk of cross contamination and hospital acquired infections Material alteration during exposure of device to extreme environment

Asia Pacific Reprocessed Medical Devices Market: Opportunities

Reprocessed medical device product pricing reductions are anticipated to present profitable market expansion potential. In economies like those of India, China, Indonesia, and Malaysia, consumers are extremely price concerned. Reprocessed medical equipment is offered there for about 50% less than brand-new equipment. As a result, goods with lower prices and the necessary regulatory approval would spread more quickly throughout the area.

Also, it is anticipated that a stronger distribution network will contribute to market expansion. High unmet medical requirements and an expanding population are anticipated to drive market expansion in Asia Pacific. As a result, industry participants must concentrate on improving their distribution network to stay competitive in the market.

Market Trends:

The investment in reprocessed medical equipment is a priority for the largest medical device manufacturers. NEScientific Inc. and ReNu Medical Inc., for instance, joined The Association of Medical Device Reprocessors in April 2019. Cardinal Health also joined the alliance in November of last year.

The market is anticipated to increase with the help of sterile processing. Medical waste in the healthcare industry is anticipated to decrease as a result of staffing investments in central sterile departments. Central sterile professionals can significantly reduce costs by maximizing the reprocessing of single-use devices.

Key Takeaways of the Graph:

By Technique, Cardiovascular Devices had the market’s leading position and accounted for 56.8% of the market for reprocessed medical devices in the Asia Pacific region in 2020. In 2028, the market is projected to be worth US$ 863.9 million. The segment is growing as a result of increased use of cardiovascular devices, rising cardiovascular disease prevalence, and an older population more susceptible to cardiac conditions. For instance, the number of heart attack deaths in India from 2014 to 2019 grew by 53%, according to the National Crime Records Bureau (NRCB) of India.

Asia Pacific Reprocessed Medical Devices Market: Restraints

The market for reprocessed medical equipment in Asia Pacific is predicted to grow slowly because to the risk of cross contamination and hospital acquired illnesses. Lack of strict controls for remanufactured medical equipment may lead to an increase in contamination and infection incidents as a result of their use in underdeveloped nations.

Additionally, it is anticipated that material modification during exposure of the device to harsh environments will also restrain market expansion. Medical devices can be harmed by exposure to specific chemical agents, such as chemical sterilants and decontamination agents, during reprocessing procedures. Chemical burns or sensitization in patients may result from ingesting contaminating agent materials or chemical residues.

Table of Contents with Major Points:

Executive Summary

• Introduction
• Key Findings
• Recommendations
• Definitions and Assumptions

Executive Summary

Market Overview

• Definition of Asia Pacific Reprocessed Medical Devices Market Market
• Market Dynamics
• Drivers
• Restraints
• Opportunities
• Trends and Developments

Key Insights

• Key Emerging Trends
• Key Developments Mergers and Acquisition
• New Product Launches and Collaboration
• Partnership and Joint Venture
• Latest Technological Advancements
• Insights on Regulatory Scenario
• Porters Five Forces Analysis

Qualitative Insights Impact of COVID-19 on Global Asia Pacific Reprocessed Medical Devices Market Market

• Supply Chain Challenges
• Steps taken by Government/Companies to overcome this impact
• Potential opportunities due to COVID-19 outbreak

Conclusion 

Appendix

• Data Sources
• Abbreviations
• Disclaimer

TOC Continued…!

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