The Medical Device Reprocessing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Medical Device Reprocessing Global Market Report 2024, The medical device reprocessing market size has grown rapidly in recent years. It will grow from $2.09 billion in 2023 to $2.41 billion in 2024 at a compound annual growth rate (CAGR) of 15.3%. The growth in the historic period can be attributed to cost containment pressures, regulatory evolution, increased environmental awareness, demand for single-use device alternatives, hospital budget constraints.
The medical device reprocessing market size is expected to see rapid growth in the next few years. It will grow to $4.28 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to rising demand for sustainable practices, global healthcare spending patterns, increasing focus on value-based care, expansion in emerging markets, consumer confidence and acceptance. Major trends in the forecast period include advanced disinfection techniques, sustainable packaging and material innovation, circular economy initiatives, hybrid reprocessing models, focus on remote reprocessing technologies.
An increase in surgical procedures is expected to propel the growth of the medical device reprocessing market going forward. Surgical procedures refer to medical treatment that involves making an incision and using tools to cure or repair disease in a living body. Reprocessing involves removing blood, tissue, and other biological waste from equipment and inactivating infectious microorganisms to ensure that it is clean and safe for the patient who will use it next. For instance, in 2022, according to the British Heart Foundation, a UK-based a cardiovascular research charity, points that in UK surgical procedures, transcatheter aortic valve replacement (TAVR) or transcatheter aortic valve implantation (TAVI), increased from 5676 in 2019/20 to 6328 in 2020/21. Therefore, an increase in surgical procedures is driving the growth of the medical device reprocessing market.
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The medical device reprocessing market covered in this report is segmented –
1) By Type: Reprocessing support and Services, Reprocessing Medical Devices
2) By Device Category: Critical Devices, Semi-Critical Devices, Non-Critical Devices
3) By Application: Cardiology, Gastroenterology, Gynecology, Orthopedic, General Surgery, Other Applications
4) By End-Use: Hospital, Ambulatory Service Centers, Home Healthcare
Technological advancements are a key trend gaining popularity in the medical device reprocessing market. Major companies operating in the medical device reprocessing market are adopting new technologies to sustain their position in the market. For instance, in June 2022, Getinge, a Sweden-based medical technology company, launched an updated version of the endoscope washer-disinfector, an ED-Flow automated endoscope reprocessor. Customers of Getinge’s endoscope reprocessing unit will benefit from the facility’s higher level of digital connectivity and data management, increasing uptime and productivity. It uses traceability software, T-DOC, with ED-Flow. ED-Flow efficiently handles flexible endoscope leak testing, cleaning, and high-level disinfection with practical, trustworthy outcomes.
The medical device reprocessing market report table of contents includes:
1. Executive Summary
2.Medical Device Reprocessing Market Characteristics
3.Medical Device Reprocessing Market Trends And Strategies
4. Medical Device Reprocessing Market analysis
5.Medical Device Reprocessing Market Size And Growth
6. Medical Device Reprocessing Segmentation
7.Medical Device Reprocessing Regional And Country Analysis
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27.Medical Device Reprocessing Competitive Landscape And Company Profiles
28.Medical Device Reprocessing Key Mergers And Acquisitions
29.Medical Device Reprocessing Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Cardinal Health
- Johnson & Johnson Services Inc.
- Abbott, Medtronic PLC
- Danaher
- Hill-Rom Holdings Inc.
- Fresenius Medical Care
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