The Global
Medical Device Reprocessing Market is expected to grow at a CAGR of 14.90%
during the forecast period of 2017 to 2024.
“Global
Medical Device Reprocessing Market” By Product Type {Reprocessed Device
(Catheter, Endoscope, Laparoscopic Instruments, Biopsy, Pulse Oximeter),
Service}, Application (Cardiology, Gastroenterology, Arthroscopy, Orthopedic,
General Surgery, Anesthesia), End User (Hospitals, Clinics, Ambulatory Surgical
Centers, Community Healthcare, Diagnostic Laboratories, Others), Geography
(North America, South America, Europe, Asia-Pacific, and Middle East and Africa)
The upcoming
market report contains data for historic years 2014 & 2015, the base year
of calculation is 2016 and the forecast period is 2017 to 2024.
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Global
Medical Device Reprocessing Market – Key Market Points:
The
growth of this market is majorly driven by increasing number of surgical
procedures, growing prevalence of chronic diseases, use of the low priced
reprocessed medical devices as compared to new devices and increasing pressure
to reduce medical waste due to environmental concerns. Various regional
regulatory authorities are regulating the reprocessing practices. Due to the
changing regulatory scenario for medical devices many new opportunities have
come up for the market players in countries such as France and Japan. Lack of
proper disposal mechanisms along with the continuous increase of medical waste
is also the major driver for the medical devices reprocessed market. The
increasing investments by the companies from India and China will boost the
market in APAC with substantial growth.
Global
Medical Device Reprocessing Market Definition:
This market report defines the market trends and forecast the
upcoming opportunities and threats of the pharmaceutical packaging equipment
market in the next 8 years. Medical device reprocessing is the process of
cleaning, remanufacturing and disinfection of the medical devices so that those
devices can be reused or to be put in service again. The reprocessed devices
are biopsy, catheter, and endoscope and pulse oximeter.
Major
Market Drivers and Restraints:
·
Increasing pressure to reduce medical waste due to environmental
concerns
·
Low prices of reprocessed devices as compared to new ones
·
Increasing number of surgical procedures
·
Growing prevalence of chronic diseases
·
Changing regulatory scenario for medical devices.
·
Due to the use of reprocessed devices there is a risk of
surgical site infections
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Global
Medical Device Reprocessing Market Segmentation:
The global medical device reprocessing market is segmented
based on product type, application, end user, and geography.
Based on product type the global medical device reprocessing
market is segmented into reprocessed device and service.
On the basis of application, the global medical device reprocessing
market is classified into cardiology, gastroenterology, arthroscopy,
orthopedic, general surgery, and anesthesia.
On the basis of end user, the global medical device
reprocessing market is segmented into hospitals, clinics, ambulatory surgical
centers, community healthcare, diagnostic laboratories and others.
Based on geography, the global pharmaceutical packaging
equipment market report covers data points for 28 countries across multiple
geographies such as North America & South America, Europe, Asia-Pacific,
and, Middle East & Africa. Some of the major countries covered in this
report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland,
Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi
Arabia, South Africa, and, Brazil among others. In 2017, North America is expected
to dominate the market.
Global
Medical Device Reprocessing Market Competitive Analysis
The global medical device reprocessing market is highly
fragmented and the major players have used various strategies such as new
product launches, expansions, agreements, joint ventures, partnerships,
acquisitions, and others to increase their footprints in this market. The
report includes market shares of medical device reprocessing market for global,
Europe, North America, Asia Pacific and South America.
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Major
Market Competitors/Players
Some of the major players operating in the global medical
device reprocessing market are Stryker Corporation, Johnson & Johnson,
VANGUARD AG, Medline ReNewal, Medtronic plc, SteriPro, Pioneer Medical Devices,
VASCULAR SOLUTIONS, INC., HYGIA Health Services, ReNu Medical, SureTek Medical,
Centurion Medical Products, Agito Medical A/S, Innovative Health Llc.,
Nescientific Inc., Rene Medical Inc., ReNu Medical Inc., Synergy Health plc, GE
Healthcare, Midwest Reprocessing Centre, Siemens Healthcare GmbH, Soma
Technology, Inc., Steril Med Inc., among others.
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