Reprocessed Medical Device Market Demand, Growth Analysis 2022

SINGAPORE - Feb. 7, 2023 - PRLog -- The global reprocessed medical devices market size was valued at USD 2,482.6 million in 2021 and is poised to grow at a significant CAGR of 13.9% during the forecast period 2022-28. Reprocessing is an important part in life cycle of medical device in both developed and emerging economies globally. Reprocessing of medical devices is a process of disinfecting, cleaning, testing, sterilizing, packaging, labelling and remanufacturing of used, undamaged & expired medical devices to make it ready for the patient use at reduced and affordable cost. It's been observed that the reprocessing of medical devices in the emerging countries is directed at decreasing hospital supply costs, which sometimes compromises with safety of the patients. Reprocessed medical devices are the devices which are refurbished and reuse again. The reprocessing of medical devices should follow an authentic process which furnish it fit for the use. In order to reprocess the device factors like life cycle, efficacy, and the potential risk to patient and components used for the manufacture of devices are taken into the consideration.

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The reprocessed medical device market is driving the effort to keep the high-quality standards and expand the value from medical devices. Hospitals are largest consumer segments of the reprocessed medical devices. The rate of adoption of the reprocessed medical devices is showing remarkable increase among hospitals operating under limited budgets and the long-term cost efficacy.  Medical device reprocessing became one of the most important supply chain cost reduction strategies in the US hospitals due to reprocessing of devices for the hospitals to maintain the patient care quality while saving substantial costs.

The global reprocessed medical device market segmentation:
1) By Product Type: Cardiovascular Medical Devices, Laparoscopic Medical Devices, Orthopaedic/ Arthroscopic Medical Devices.
2) By End-user: Hospitals, Clinics, Ambulatory Surgical Centres, Community Healthcare, Diagnostic Laboratories, Others.

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Based on the geographical regions, the global reprocessed medical devices market is segmented into five key regions: Europe, North America, Latin America Asia-Pacific, and Middle East & Africa. North America is anticipated to be largest market in terms of reprocessed medical devices production and followed by Europe.

The reprocessed medical devices market key players are Medline ReNewal (U.S.), Johnson & Johnson Services Inc.,(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.), SureTek Medical (U.S.)