Fact.MR – A Market Research and Competitive Intelligence Provider: The reprocessed medical devices market stood at a valuation of US$ 2.05 Bn in 2020, and is projected to surge to US$ 5.9 Bn by the end of 2028.
North America Is Expected To Account For Around 40% Of The Global Reprocessed Medical Devices Market Share By The End Of 2028
“Increasing focus on healthcare in developing nations with less spending potential will see major adoption of reprocessed medical devices through 2028,” says a Fact.MR analyst
Fact.MR – A Market Research and Competitive Intelligence Provider: The reprocessed medical devices market stood at a valuation of US$ 2.05 Bn in 2020, and is projected to surge to US$ 5.9 Bn by the end of 2028.
Increasing healthcare expenditure owing to the rising patient pool is expected to bolster demand for reprocessed medical devices as healthcare institutions focus on lowering operational costs. Increasing geriatric population, favorable regulatory policies, and rising focus on healthcare are anticipated to be other trends propelling reprocessed medical devices market potential over the coming years.
Demand for reprocessed medical devices is anticipated to be high in developing economies where healthcare spending potential is less.
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Key reprocessed medical device suppliers are focusing on launching new and innovative products to advance medical device reprocessing procedures and increase revenue potential.
- In December 2021, PENTAX Medical announced the launch of PlasmaTYPHOON’s second generation systems, which is aimed at accelerating endoscope reprocessing and giving healthcare professionals more choices. These new systems will accelerate the process by reducing drying times from hours to minutes.
Key Takeaways from Market Study
- In 2020, the global reprocessed medical devices market held a revenue total of US$ 2.05 Bn.
- Consumption of reprocessed medical devices is predicted to surge at an impressive CAGR of 14.9% from 2021 to 2028.
- The reprocessed medical devices market is anticipated to be worth US$ 5.9 Bn by 2028.
- Increasing focus on healthcare, rising healthcare expenditure, and growing popularity of reprocessed medical devices are anticipated to be prominent trends governing market potential.
- The cardiovascular devices segment is anticipated to lead the global reprocessed medical devices sales over the coming years.
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Winning Strategy
Reprocessed medical device manufacturers are focusing on mergers and acquisitions to expand their product portfolios and increase their sales. Favorable regulatory policies are also expected to promote reprocessed medical device suppliers to advance their sales potential and increase revenue.
Reprocessed medical device companies are investing in the development of better reprocessing facilities to meet increasing demand. Favorable government initiatives to boost the adoption of reusable medical devices are also expected to be capitalized on by key reprocessed medical devices market players over the forecast period.
Competitive Landscape:
Key reprocessed medical device market players are focusing on mergers and acquisitions to increase their business scope across the world and increase sales.
- In February 2022, DePuy Synthes, the orthopedics company of Johnson & Johnson, announced the acquisition of CrossRoads Extremity Systems. This will bring CrossRoads’s EcoSMART instrument portfolio to DePuy Synthes and strengthen its reprocessing facilities.
Key Segments Covered in Reprocessed Medical Devices Industry Research
- Reprocessed Medical Devices Market by Device Type:
- Cardiovascular Devices
- Blood Pressure Cuffs/Tourniquet Cuffs
- Cardiac Stabilization and Positioning Devices
- Compression Sleeves (DVT)
- Diagnostic Electrophysiology Catheters
- Electrophysiology Cables
- General Surgery Devices
- Balloon Inflation Devices
- Infusion Pressure Bags
- Laparoscopic Devices
- Endoscopic Trocars & Components
- Harmonic Scalpel
- Orthopedic External Fixation Devices
- Gastroenterology Biopsy Forceps
- Cardiovascular Devices
- Reprocessed Medical Devices Market by Region:
- North America Reprocessed Medical Devices Market
- Latin America Reprocessed Medical Devices Market
- Europe Reprocessed Medical Devices Market
- East Asia Reprocessed Medical Devices Market
- South Asia & Oceania Reprocessed Medical Devices Market
- MEA Reprocessed Medical Devices Market
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global reprocessed medical devices market, presenting historical demand data (2017-2020) and forecast statistics for the period of 2021-2028.
The study divulges essential insights on the market on the basis of device type (cardiovascular devices, general surgery devices, laparoscopic devices, orthopedic external fixation devices, gastroenterology biopsy forceps) and across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Fact.MR’s Domain Knowledge in Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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