Global Reprocessed Medical Devices Market Size to Grow Substantially During 2020-2026

November 18, 2021

According to the research report titled ‘Reprocessed Medical Devices Market Size By Product (Cardiovascular Medical Devices, {Blood Pressure Cuffs/Tourniquet Cuffs, Electrophysiology Cables, Cardiac Stabilization and Positioning Devices, Diagnostic Electrophysiology Catheters, Deep Vein Compression Sleeves (DVT)} Gastroenterology and Urology, {Gastroenterology Biopsy Devices, Urology Biopsy Devices} Orthopedic/Arthroscopic, Laparoscopic, {Harmonic Scalpels, Endoscopic Trocars and Components} General Surgery Equipment {Infusion Pressure Bags, Balloon Inflation Devices}), By End-Use (Ambulatory Surgical Centers, Hospitals, Clinics), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with MarketStudyReport, global reprocessed medical devices market size will expand considerably over the forecast timeframe 2020-2026.

Increasing usage of reusable medical devices and equipment in healthcare settings, especially for cardiac surgeries and blood pressure monitoring applications will augment global reprocessed medical devices market growth over the projection timespan.

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Besides, cost-benefit of reusable products, rising number of distributors, and favorable regulatory norms are significantly adding to the industry progression, claims the study.

Notably, reprocessing of reusable medical equipment is a vital step in guaranteeing improved safety for both patients and healthcare professionals. The process involves cleaning, sterilizing, or disinfecting medical equipment in order to prevent infection.

Based on product landscape, reprocessed gastroenterology and urology equipment will observe a strong CAGR of 15% over the study period due to high prevalence of gastrointestinal illnesses. Moreover, high susceptibility of older age groups to such illnesses will substantially increase the product demand.

Further, growing prevalence of various urological conditions such as kidney stones, urinary tract infections, prostate issues, and bladder control issues, where some of these conditions only last for a short time while others continue for a prolonged period, will enhance the demand for gastroenterology and urology devices.

With respect to end-use spectrum, global reprocessed medical devices and equipment industry size is fragmented into hospitals, ambulatory surgical centers, and clinics. The ambulatory surgery centers segment reached USD 390 million in 2019 and is expected to grow significantly by the end of projection period. These developments can be linked to an increase in application of reusable devices in outpatient surgery centers and rising patient preference towards ASCs for treatment of a variety of health concerns due to benefits like speedier treatment, shorter stays, and lower expenses.

From a regional perspective, Latin America accounted for approximately 6.5% the overall revenue share in 2019 and is anticipated to grow significantly in the coming years due to increasing occurrence of chronic diseases such as cancer, heart disease, and cardiovascular diseases, especially among the elderly.

Considering the competitive landscape, Ethicon Inc., Medline Industries, Inc., GE Healthcare, Innovative Health, Renu Medical, Inc. (Arjo), Medtronic plc, Soma Technology, Inc., SureTek Medical, Stryker Corporation, Vanguard AG, and Teleflex, Inc. are the leading companies in global reprocessed medical devices market.

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