Reprocessed Medical Devices Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis

The Reprocessed Medical Devices Market was valued at US$ 1,054.6 million in 2016 and is projected to expand at a CAGR of 20.4% during the forecast period (2017-2025), as highlighted in a new report published by Coherent Market Insights. Increase in focus on reducing toxic hospital waste is expected to support the growth of reprocessed medical devices market.
The reprocessing is an important part of the medical device life cycle in both developed and emerging nations across the world. Reprocessing of medical devices includes disinfecting, remanufacturing, sterilizing and packaging as well as labeling for reuse. It is observed that reprocessing of medical devices in economies such as Brazil, Russia, and India is solely aimed at reducing hospital supply costs.
The growth inhibiting factors of reprocessed medical devices market such as increase in inclination of market players towards eco-friendly solutions, compromise with patient safety, as sometimes healthcare professionals feel that use of reprocessed medical device may create harmful effect to the patient. Various key players such as ReNu Medical, Inc., HYGIA Health Services are involved in sustainable waste reduction programs and promotion of healthcare and environmental campaigns by the government in an endeavor to strengthen their position and establish an evident presence in the global reprocessed medical devices industry. This technology ensures the proper sterilization of healthcare equipment that would help in reducing the healthcare associated infections. The Centers for Disease Control and Prevention (CDC) reports about 75,000 deaths caused per year in the U.S. due to healthcare associated infections. Employing the advanced sterilizing procedure would help in reduction of the mortality rates caused as a result of infections due to contaminated tools and equipment.
It is expected that increase in focus towards reducing the toxic waste produced by the hospitals will favor the growth on reprocessed medical devices market in the near future. Dumping the medical waste comprising single-use plastic devices in landfills may cause a threat to the environment. According to the Association of Medical Device Reprocessors (AMDR), on an average 2 million tons of hospital waste is generated in the U.S. each year. This may be a strong source for production of carcinogens.
Plastic and several other artificial polymers are extensively used in the production of medical devices owing to lack of use of biodegradable materials for production of medical devices. Thus, the use of reprocessed medical devices would serve as a suitable and environmentally sustainable alternative to reduce medical waste. Various environmental regulatory bodies taking initiatives to promote the use of reprocessed medical devices are also positively driving the global reprocessed medical devices market. For instance, the European Commission's 7th Environment Action Programme initiated in November 2013, involved promotion of reprocessed medical devices used in incineration in hospitals, clinics and ambulatory surgical centers.
Key takeaways of the market:
• The reprocessed medical devices is expected to expand at a CAGR of 20.4% during the forecast period (2017-2025). Rise in number of lifestyle disease cases and surgical procedures around the globe is expected to favor the market of reprocessed medical over the forecast period.
• The North America region in the reprocessed medical device market is expected to show high growth rate during the forecast period in terms of value.
• General surgery segment was valued at US$ 110.7 Mn in 2016 and is expected to reach US$ 421.8 Mn by 2025 at a CAGR of 16.2%
• Driving factors for general surgery devices includes rise in number of surgical procedures globally, rise in number of lifestyle disease cases globally, high cost of technologically advanced devices, lack of funds for development and expansion of healthcare facility in emerging economies.
• Obesity is the major factor causing to increase the lifestyle disease such as diabetes, cardiovascular disease prevalence in developed regions.
• Increased healthcare access in emerging economies supported by increase in per capita income will support the growth of surgical procedures and use of surgical devices in the near future
• Some of the major companies in the reprocessed medical devices market are Stryker Corporation, Johnson & Johnson, Vanguard AG), Medline ReNewal , SteriPro Canada, Inc., Pioneer Medical Devices AG, Vascular Solutions, Inc., HYGIA Health Services, Inc., ReNu Medical, Inc., SureTek Medical, Centurion Medical Products Corporation and Vanguard AG.

Thrust Vector Control System (TVC) Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Thrust Vector Control system (TVC) also called as Thrust vectoring is the ability of an aircraft, rocket, or other vehicles to control the direction of the thrust from engine or motor in order to control the attitude or angular velocity of the vehicle. Thrust Vectorin...

Ultra High Molecular Weight Polyethylene Ropes Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Ultra High Molecular Weight Polyethylene (UHMWPE) is odorless, tasteless, nontoxic, and resistant to corrosive chemicals except oxidizing acids having low moisture absorption (Hydrophobic) capacity and low coefficient of friction.  UHMWPE can float in water due t...

Enzyme Linked Immunosorbent Assay (ELISA) Analyzer Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

ELISA analyzer is a fully automated instrument for performing Enzyme Linked Immunosorbent Assay (ELISA). This device is designed to perform in vitro diagnostic tests for autoimmune diseases and infectious diseases such as AIDS. ...

Naloxone Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Naloxone, also referred to as Narcan, is an opioid antagonist that is widely used to reverse opioid overdose completely or partially. Opioid overdose generally causes respiratory depression among people, thus naloxone is used to reverse this adverse effect. Narcan is ...

Global Dual Specificity Protein Kinase TTK Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

A protein kinase is a kinase enzyme that helps in the modification of other proteins by chemically adding phosphate groups to them, which is known as phosphorylation. Dual specificity protein kinase TTK, also known as Mps1, is an enzyme, which is encoded by the TTK ge...

Smoked Eel Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Smoked eels are fishes that are cured by smoking. Foods have been smoked by humans throughout history, however, it was done to preserve the food. Nowadays, preservation of fish is possible by refrigeration or freezing. The smoking of fish adds a unique taste and flavo...

Fallopian Tube Cancer Market - Size, Share, Outlook, and Forecast till 2026

Published Date : Jun 2018

Fallopian Tubes also called as uterine tube are pair of tubes, which carry an egg from the ovary to the uterus. Fallopian tube cancer also called as tubal cancer is caused due to uncontrolled growth of cells in fallopian tubes that connect the ovaries and the uterus. ...

Global (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Medical X-ray Film Market 2018, Forecast to 2023

Published Date : Jun 2018

Medical X-ray Film is a kindof sensitized materials to x-rays, either before or after exposure. It can't see the light before used. After medical (X-rays) exposure by device and develop, it can be formed medical imaging for medical diagnosis. Scope of the Report: This...

Global Medical X-ray Film Market 2018 by Manufacturers, Regions, Type and Application, Forecast to 2023

Published Date : Jun 2018

Medical X-ray Film is a kindof sensitized materials to x-rays, either before or after exposure. It can't see the light before used. After medical (X-rays) exposure by device and develop, it can be formed medical imaging for medical diagnosis. Scope of the Report: This...

Global (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Peripheral Vascular Devices Market 2018, Forecast to 2023

Published Date : Jun 2018

Peripheral vascular devices are a kind of devices which is used in the treatment of diseased blood vessels outside of the brain and heart. Peripheral vascular devices include peripheral vascular stents, PTA balloon catheter, embolic protection device, aortic stent graft and surgical artificial trans...

 

Select Licence :

  • Single User : $4500
  • Multiple User : $7000
  • Corporate User : $10000

Happy To Assist You

Assist you at Worldwide Market Reports

We will be happy to help you find what you need. Please call us or write to us:

Worldwide Market Reports Benefits

Custom Research Solution

Talk to our research consultant to design an exclusive report as per your research needs.

Customer Fulfilment

We aim to fulfil client's research demands with tailored research solutions.

Quick Turnaround Time Reports

We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

360-degree Approach

We cover each industry from supply and demand side with an aim to provide a most holistic research study.