Medical Device Reprocessing Market 2022 Key Factors Major Drivers and Procurement Intelligence
The report "Medical Device Reprocessing Market by Type (Reprocessed Medical Devices), Device Category (Critical- Devices, Semi-Critical Devices, Non-Critical Devices), Application (Cardiology, Gynecology, Gastroenterology, Anesthesia) - Global Forecast to 2027", is projected to reach USD 3.9 billion by 2027 from USD 2.0 billion in 2022, at a CAGR of 13.7% during the forecast period.
Growth in this market is mainly driven by the rising need to reduce healthcare costs, and the increasing adoption of strategies to reduce medical waste.
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The reprocessed support and services segment accounted for the largest share in 2021
Based on type, the medical device reprocessing market is segmented into reprocessing support & services and reprocessed medical devices. In 2021, the reprocessed support & services segment accounted for the largest share of this market.
The critical devices segment is expected to have the highest CAGR during the forecast period
Based on the device type, the medical device reprocessing market is segmented into critical devices, semi-critical devices, and non-critical devices. Critical devices segment is expected to register the highest growth during the forecast period.
The cardiology segment is expected to register the highest growth during the forecast period
Based on application, the medical device reprocessing market is segmented into cardiology, gastroenterology, gynecology, arthroscopy and orthopedic surgery, general surgery & anesthesia, and other applications (urology, non-invasive surgeries, and patient monitoring). The cardiology segment is expected to register the highest growth during the forecast period.
North America holds the largest share of the medical device reprocessing market
North America accounted for the largest share of the pharmacy automation market in 2021. Factors such as favorable US FDA approvals on reprocessing medical devices, growth in the healthcare sector, and the presence of top medical device reprocessing service providers in the US are expected to contribute to the growth of the medical device reprocessing market in North America.
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Key Market Players
The prominent players in the medical device reprocessing market are Stryker Corporation (US), Johnson & Johnson (US), Vanguard AG (Germany), Medtronic PLC (Ireland), Steris Healthcare (US), Medline ReNewal (US), Innovative Health (US), Arjo Group (ReNu Medical, Inc.) (Sweden), SteriPro Canada, INC. (Canada), Northeast Scientific, INC. (US), Cardinal Health (Sustainable Technologies) (US), and SureTek Medical(US).
The study categorizes the Medical Device Reprocessing Market based on type, device category, application, and regional level.
Global Medical Device Reprocessing Market, by Type
- Reprocessing Support & Services
- Reprocessed medical devices
Global Medical Device Reprocessing Market, by Device Category
- Critical Devices
- Semi- Critical Devices
- Non- Critical Devices
Global Medical Device Reprocessing Market, by Application
- Arthroscopy & Orthopedic Surgery
- General Surgery and Anesthesia
- Other Applications (Urology, non-invasive surgeries, patient monitoring)
Global Medical Device Reprocessing Market, by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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