Reprocessed Medical Devices Market Key Trends and Forecast Research Report 2027

Reprocessed medical devices are those devices are those devices that are refurbished and put to reuse again. The reprocessing of medical devices involves disinfection, cleaning, remanufacturing, testing, sterilization, packaging and labelling of the devices in order to put to service again. The reprocessing of any medical device must follow a validated process which renders it fit for use. In order to reprocess the device factors like the efficacy, life cycle, potential risk to the patient and components used to manufacture the device are taken into consideration. With the increasing healthcare cost and high price of medical devices then demand for reprocessed medical devices is expected to witness high growth over the forecast period.

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The low price of the reprocessed devices is major factor responsible for the rising demand of the reprocessed medical devices, reprocessed medical devices cost nearly 30% - 40% less as compared to the new devices owing to which the demand for such devices is high in price sensitive low and middle income countries. Hospitals are largest consumer segment of the reprocessed medical devices, with increasing number of hospitals and increasing pressure on the government hospitals to operate under limited budget and long term cost efficacy, adoption rate of the reprocessed medical devices is witnessing significant increase among the hospitals. Strategic collaborations between manufacturers, end users and reprocessing companies is expected to boost revenue growth of the reprocessed medical devices market over the forecast period. Moreover several large hospitals are focusing on establishing in – house or outsourced reprocessing programs which in turn are expected to propel revenue growth. For instance, in the U.S. there are nearly 3,000 hospitals with medical device reprocessing program. However the stringent laws for regulating the reprocessing of medical devices and technological restraints in the low income countries for reprocessing of the medical devices along with economic slowdown and tighter healthcare budgets are expected to hamper revenue growth of the reprocessed medical devices market over the forecast period.

The global reprocessed medical devices market is expected to witness robust growth over the forecast period owing to emphasis on reduction of medical waste, globally. Moreover starting of reprocessing programs among large multispecialty hospitals is expected to push market growth over the forecast period. Government strategies to effectively control costs and increase profit margins is expected to propel revenue growth of the reprocessed medical devices market over the forecast period.

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Regionally, global reprocessed medical devices market is divided in seven key regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA)

North America is expected to be the largest marker in terms of production of reprocessed medical devices followed by Western Europe. The presence of government funded and privately held waste management and recycling companies and availability of advance technology for sanitization and reprocessing of the medical devices is expected to contribute to the revenue growth of the reprocessed medical devices market in these regions. Based on consumption, Asia – Pacific region is expected to witness highest demand for reprocessed medical devices owing to price sensitive customer base and large population commanding demand for affordable medical devices. Latin America and MEA regions are also expected to witness high growth in the global reprocessed medical devices market owing to growing distribution network and strategic collaborations of the manufacturers in these regions.

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Some players in the global reprocessed medical devices market are Medline Industries, Inc., Stryker Sustainability Solutions, Integrity Medical Systems, Inc., Centurion Medical Products Corporation, Koninklijke Philips N.V., GE Healthcare, Siemens AG, and others.

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Reprocessed Medical Devices Market: Future Demand and Growth Analysis 2024

Global Reprocessed Medical Devices Market: Snapshot

Reprocessing has always been an important part of the medical device life cycle, in both developed and emerging nations across the world. Reprocessing of medical devices is a method of cleaning, disinfecting, testing, remanufacturing, sterilizing and packaging as well as labeling of a used, expired and undamaged medical device to make it patient-ready at a much-reduced cost. It has been observed that reprocessing of medical devices in emerging nations is solely aimed at reducing hospital supply costs, which often compromise with the safety of patients.

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Various research publications related to the medical devices market suggest that until a decade back, medical device reprocessing was mostly performed by hospital staffs within a hospital setting, and without any proper regulations and guidelines. However, with the introduction of FDA reprocessing guidelines, medical device reprocessing is being adopted gradually across the globe. Hence, at present, most hospitals and healthcare facilities outsource medical device reprocessing to qualified third party service providers.

Spurred by these factors, the global reprocessed medical devices market is projected to exhibit a CAGR of 14.9% between 2016 and 2024. At this pace, the market’s valuation is expected to reach US$3.35 bn by the end of 2024, from US$982.7 mn in 2015.

Cardiovascular Medical Devices Segment to Remain Dominant through Forecast Period

Based on device type, the reprocessed medical devices market can be segmented into gastroenterology biopsy forceps, orthopedic external fixation devices, laparoscopic medical devices, general surgery medical devices, and cardiovascular medical devices. Of these, the reprocessed cardiovascular medical devices segment held the dominant share of 61.2% in the overall market in 2016. Growth witnessed in this segment can be attributed to the reduced pricing of the products, high usage and growing pressure to reduce healthcare expenditure among hospital authorities. Additionally, increased focus on protecting the environment by reducing medical waste being dumped in landfills is significantly contributing to the growth of the segment.

The cardiovascular devices segment has been further categorized into blood pressure cuffs/tourniquet cuffs, cardiac stabilization and positioning devices, Deep Vein Thrombosis (DVT) compression sleeves, diagnostic electrophysiology catheters and electrophysiology (EP) cables. Likewise, the general surgery devices segment comprises balloon inflation devices and infusion pressure bags. The laparoscopic devices segment has been further classified into endoscopic trocars and components as well as harmonic scalpels. Similarly, the external fixation devices segment has been considered under orthopedic devices and biopsy forceps under gastroenterology devices.

Favorable Policies Seal North America’s Dominance in Global Market

Regionally, North America emerged as the largest market for reprocessed medical devices in the world in 2016. In this year, North America held the dominant share of 76.8% in the global reprocessed medical devices market. Encouraging regulatory policies and the increased use of reprocessed medical devices across the healthcare sector are likely to seal North America’s dominance in the global frontier through the forecast period. Moreover, reduced pricing and improved quality of reprocessed medical devices are some of the additional factors driving the growth of the market.

However, negative perceptions about the safety of such equipment and relatively lesser collection of medical devices for reprocessing are some of the factors that might impede the growth of the market. Europe is expected to show an appreciable growth rate due to multiple factors such as the growing demand for reprocessed medical devices and awareness about the potential savings in healthcare costs. Moreover, the rising pressure to keep healthcare budgets under control is expected to fuel the growth of the reprocessed medical devices market in the region.

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Centurion Medical Products Corporation, Hygia Health Services, Inc., Medline ReNewal, MidWest Reprocessing Center, ReNu Medical, Inc., Ethicon, Inc. (Johnson & Johnson), Stryker Sustainability Solutions, Inc., SureTek Medical and Vanguard AG are major companies operating in the reprocessed medical devices market.

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