Number of pages: 100 | Report Format: PDF | Published date: March 24, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
Report Attribute |
Details |
Market Size Value in 2022 |
US$ 2.31 billion |
Revenue Forecast in 2031 |
US$ 6.8 billion |
CAGR |
12.8% |
Base Year for Estimation |
2022 |
Forecast Period |
20230-2031 |
Historical Year |
2021 |
Segments Covered |
Type, Device Category, Application, and Region |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global reprocessed medical devices market was valued at US$ 2.31 billion in 2022 and is expected to register a revenue CAGR of 12.8% to reach US$ 6.8 billion by 2031.
Reprocessed Medical Devices Market Fundamentals
Reprocessed medical devices are devices that have been previously used and have undergone a process of cleaning, disinfection, testing, and refurbishment to make them suitable for reuse. Reprocessing medical devices is an alternative to disposal and represents a potential cost-saving strategy for healthcare providers. Reprocessing medical devices is safe and effective and can help reduce medical waste and improve environmental sustainability.
Reprocessing of medical devices typically involves a multi-step process that includes cleaning, disinfection, testing, and refurbishment. Reprocessed devices are subject to the same regulatory requirements as new devices and must meet safety and efficacy standards. The FDA has guided the reprocessing of medical devices, and many countries have established regulations and guidelines to ensure the safety and efficacy of reprocessed devices. Reprocessed medical devices are used in various applications, including cardiology, gastroenterology, orthopedics, and general surgery. Reprocessed devices are typically less expensive than new devices, making them an attractive option for healthcare providers looking to reduce costs.
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Reprocessed Medical Devices Market Dynamics
The primary driver for the revenue growth of the global reprocessed medical devices market is the potential for cost savings. Reprocessed devices are typically less expensive than new devices, which can help healthcare providers reduce their overall healthcare costs. Advancements in technology have also contributed to the revenue growth of the global reprocessed medical devices market. New reprocessing technologies are making it possible to reprocess a wider range of devices and improve reprocessed devices’ safety and efficacy. Additionally, the increasing focus on environmental sustainability and reducing medical waste is another driver for the revenue growth of the reprocessed medical devices market. Reprocessing medical devices helps to reduce the amount of medical waste generated by healthcare facilities. Furthermore, the increasing demand for healthcare services, particularly in emerging economies, boosts the reprocessed medical devices market. Reprocessed devices provide an affordable alternative to new devices, making healthcare more accessible to a larger population.
However, regulatory requirements for reprocessed medical devices can vary by country, creating challenges for manufacturers who want to sell their products in multiple regions. In addition, frequent changes in regulatory requirements may impact the viability of reprocessing certain types of devices. Many healthcare providers may not be aware of the benefits of reprocessed medical devices or may not have access to them in their region. The lack of awareness of reprocessed medical devices can hamper market revenue growth. Safety concerns, limited reimbursement in emerging nations, and regulatory challenges impede the revenue growth of the reprocessed medical devices market.
Reprocessed Medical Devices Market Ecosystem
The global reprocessed medical devices market is analyzed from four perspectives: type, device category, application, and region.
Reprocessed Medical Devices Market by Type
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Based on the type, the global reprocessed medical devices market is segmented into reprocessing support and services and reprocessing medical devices.
The reprocessing support and services segment dominated the market with the principal revenue share in 2022, as the healthcare facilities increased usage of third-party reprocessing services to lower in-house reprocessing expenses. In reprocessing support and services, companies provide support and services related to reprocessing medical devices, such as sterilization services, consulting services, and training programs. Sterilization services are a key component of the reprocessing support and services segment. Companies that provide sterilization services use specialized equipment and techniques to ensure that reprocessed devices are free from contaminants and safe for use. Sterilization services may be provided by third-party companies or offered in-house by healthcare facilities. Consulting services are another important component of the reprocessing support and services segment. Consulting services may include assistance with regulatory compliance, process improvement, and cost analysis. Consulting services can help healthcare facilities optimize reprocessing programs and follow best practices and regulatory guidelines. Training programs are also an important component of the reprocessing support and services segment. Third-party companies may offer training programs or provide in-house healthcare facilities. These programs can help ensure that healthcare workers are properly trained in reprocessing medical devices and follow best practices to ensure safety and efficacy. These factors contribute to the revenue growth of the reprocessing support and services segment.
Reprocessed Medical Devices Market by Device Category
Based on the device category, the global reprocessed medical devices market is segmented into critical, semi-critical, and non-critical devices.
The critical segment dominated the market with the largest revenue share in 2022, owing to rising numbers of surgical procedures. Critical devices, such as surgical forceps, scalpels, implants, biopsy tools, and urine catheters, come into contact with the vascular system and other sterile body parts. Sterilization must come first, then cleaning for critical devices. Steam sterilization, evaporated hydrogen peroxide, and liquid chemical sterilization are typical techniques for reprocessing critical medical devices. The reprocessing of critical devices is a highly regulated process and is subject to strict guidelines to ensure the safety and efficacy of the devices. Reprocessing critical devices typically involves a more complex process than non-critical devices, including more extensive cleaning, disinfection, and testing procedures. Reprocessed critical devices can also help reduce healthcare costs and improve environmental sustainability by reducing medical waste. These factors contribute to the revenue growth of the critical devices segment.
Reprocessed Medical Devices Market by Application
Based on the application, the global reprocessed medical devices market is segmented into cardiovascular, gynecology, laparoscopic, gastroenterology, orthopedic, and other applications.
The cardiology segment accounted for the largest revenue share in 2022, attributed to the rising incidence of heart disorders driving the demand for cardiac diagnostic and interventional procedures. For instance, according to the WHO’s factsheet of June 2021, cardiovascular diseases are one of the leading causes of death, killing around 17.9 million people in 2019, representing 32% of all deaths globally. Reprocessing of cardiology devices can provide several benefits to healthcare facilities, including cost savings and reduced medical waste. Reprocessed cardiology devices are typically less expensive than new devices, which can help to reduce healthcare costs. Additionally, reprocessing can help to reduce medical waste and improve environmental sustainability. The commonly reprocessed cardiology devices include electrophysiology catheters, diagnostic catheters, and cardiovascular stents. These devices often diagnose and treat cardiovascular conditions in minimally invasive procedures. These factors contribute to the revenue growth of the cardiology devices segment.
The laparoscopic devices segment accounted for the second-largest revenue share in 2022. Laparoscopic devices, including instruments such as trocars, graspers, scissors, and dissectors, are used for minimally invasive surgical procedures. The reprocessing of laparoscopic devices involves the cleaning, disinfection, and sterilizing these instruments, which can help reduce healthcare costs and environmental impact. Reprocessed laparoscopic devices are often less expensive than new devices, making them an attractive option for healthcare facilities looking to reduce expenses. These factors contribute to the revenue growth of the laparoscopic devices segment.
Reprocessed Medical Devices Market by Region
Geographically, the global reprocessed medical devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the global reprocessed medical devices market with the largest revenue share in 2022, attributed to favorable government initiatives, key market players, and the presence of an excellent regulatory framework. Additionally, companies across the region are continuously involved in mergers, acquisitions, and partnerships, which is also helping in the revenue growth of the market. For instance, in January 2023, AA Medical, a provider of sustainable solutions to the new and used medical device equipment sectors, announced a collaboration with Certified Endoscopy Products, a prominent Chicago-based medical device reprocessing firm specializing in endoscopic instruments. AA Medical and Certified Endoscopy will merge to develop a world-class medical device reprocessing firm serving the endoscopy, orthopedic, and other surgical equipment sectors.
Reprocessed Medical Devices Market Competitive Landscape
The prominent players operating in the global reprocessed medical devices market are:
Reprocessed Medical Devices Market Strategic Developments
Reprocessed medical devices are devices that have been previously used and have undergone a process of cleaning, disinfection, testing, and refurbishment to make them suitable for reuse.
The global reprocessed medical devices market is expected to reach US$ 6.82 billion by 2031.
The reprocessed medical devices market is projected to register a revenue CAGR of 12.8% during the forecast period from 2023 to 2031.
Safety concerns, limited reimbursement in emerging nations, and regulatory challenges restrict the global market revenue growth to its full potential.
Some prominent players operating in the global reprocessed medical devices market are Sterilmed Inc. (Johnson & Johnson Services, Inc.), GE Healthcare, Suretek Medical, Midwest Reprocessing Center, and Avante Health Solutions.
*Insights on financial performance are subject to the availability of information in the public domain