(2020 - 2023) Global Single-Use Medical Device Reprocessing Market - CAGR Status, Industry Analysis, Trends, and Forecast

Single-Use Medical Device Reprocessing Market (2020 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Single-Use Medical Device Reprocessing market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.

Single-Use Medical Device Reprocessing Market report is anticipated to register a CAGR of 14% over a five years forecast period (2020 – 2023).”

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List of Major Key players operating in the Global Single-Use Medical Device Reprocessing Market are –

  • STRYKER SUSTAINABILITY SOLUTIONS
  • STERILMED INC. (ACQUIRED BY ETHICON-ENDO SURGERY INC.
  • PART OF THE JOHNSON & JOHNSON FAMILY OF COMPANIES)
  • MEDLINE RENEWAL
  • VANGUARD AG
  • HYGIA HEALTH SERVICES INC.
  • SURETEK MEDICAL
  • RENU MEDICAL
  • NESCIENTIFIC INC

The global single-use medical device reprocessing market has been estimated at USD 1625.9 million in 2017. The market is expected to register a CAGR of 14% during the forecast period, 2020 to 2023. North America accounted for the largest market, while Europe is the next to North America in the single-use medical device reprocessing.

Cost Savings through Reprocessing Single-Use Devices

In 2002, the Food and Drug Administration established statutory requirements for reprocessing of single-use devices (SUD) by approved reprocessors to save costs and reduce medical waste. Reprocessed single-use medical devices are as safe and effective as original medical equipment, but with greater affordability. The use of re-processed SUDs also results in reduction of costs associated with special handling and waste management of devices. Healthcare facilities not only save 50% for every reprocessed SUD they purchase and spend less on medical disposal, but they also save money when original equipment manufacturers (OEMs) lower their prices to compete with third-party re-processors, thus lowering the overall cost of healthcare. Along with the cost reduction it also results in environmental sustainability.

Quality of Reprocessed Single Use Medical Devices (SUD’S)

In 2008 United States GOA published a report on Reprocessed single-use medical device and looked into each complaint made on the use of single use medical device (SUD). They found that of the over 320,000 adverse events filed with FDA between 2000 and 2006, only 65 adverse events actually involved, or were suspected to involve a reprocessed SUD and that the reprocessed SUD was one of several possible causal factors in adverse events. In reviewing these type of reports, FDA found that the types of adverse events reported to be associated with the use of reprocessed SUDs were the same types of events that were reported for new devices. These report has established the safety, but have not been able to clear the preconceived notion regarding the quality of reprocessed SUDs. Quality of healthcare facilities, quality of device material, and regulations of single use medical devices are the primary concerns of every payer and these are limiting the market’s growth.

North America to Dominate the Market Growth

North America accounted for the largest market, accounting for around 42% of the global market share and is expected to witness a high CAGR of 19% over the forecast period. Along with the North America region, Europe is the next leading region growing at a CAGR of 6.11% in the global molecular diagnostics market. Asia-Pacific is growing for single-use medical device reprocessing market and the reuse of Single-Use Devices in much of Asia is common, particularly for injection needles. For the most part, there are no national regulations governing reuse of SUDs and, thus, third-party reprocessors do not offer their services in Asia.

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Scope of the Report:

The report analyses Single-Use Medical Device Reprocessing market, which includes –

  • Analysis of the growth of Single-Use Medical Device Reprocessing market in global and regional level including Asia-Pacific, Americas, and EMEA.
  • The report provides Single-Use Medical Device Reprocessing market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
  • The report offers country level Single-Use Medical Device Reprocessing market volume and value by end-user segment for the period 2012-2023.
  • Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Single-Use Medical Device Reprocessing market are discussed.
  • The report provides competitive landscape at country level for the year 2020. It also covers key policies and initiatives, key deals, and key upcoming projects.

Highlighted points of Single-Use Medical Device Reprocessing Market Report:

  • Varying dynamics of the Single-Use Medical Device Reprocessing industry.
  • Prospective changes in sales volumes and worldwide share growth in upcoming years (2020-2023).
  • Single-Use Medical Device Reprocessing market report recognizes the key drivers of growth and challenges of the key industry players.
  • Competitors profiles along with product description, overview, and business data.
  • A complete analysis of market risks, opportunities, limitations, and growth of the market.
  • Market driving and restraining factors.
  • Delivers information on the historical and current market size and the future potential of the market.
  • Single-Use Medical Device Reprocessing market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.

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Reasons to Purchase Single-Use Medical Device Reprocessing Market Report:

  • The report analyses how stringent emission control norms will drive the global Single-Use Medical Device Reprocessing market.
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
  • Study on the product type that is expected to dominate the market.
  • Study on the regions that are expected to witness the fastest growth during the forecast period.
  • Identify the latest developments, market shares and strategies employed by the major Single-Use Medical Device Reprocessing market players.
  • 3 months’ analyst support along with the Market Estimate sheet (in excel).

In this study, the years considered to estimate the market size of Single-Use Medical Device Reprocessing:

History Year: 2013-2017
Base Year: 2017
Estimated Year: 2020
Forecast Year 2020 to 2023

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