Research Nester published a report titled “Reprocessed Medical Devices Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global reprocessed medical devices market in terms of market segmentation by type, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global reprocessed medical devices market is segmented by end-user into hospitals, nursing homes, and small clinics, out of which, the hospitals segment is projected to grab the highest share of the market by the end of 2021, owing to the large amount of medical wastes generated by the hospitals, and the need among them to lower these wastes.
The global reprocessed medical devices market is anticipated to grow with a significant CAGR during the forecast period, i.e., 2021-2029, on account of the rising need for effective and affordable medical devices, followed by the growing need for surgical instruments, backed by the rising prevalence of different type of diseases and the need to treat them. The market is also thriving on account of the increasing wastes generated from medical settings, and the inclination of the healthcare professional towards the use of single-use reprocessed devices (SUDs).
Regionally, the global reprocessed medical devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the market in North America is projected to hold the largest market share by the end of 2029, owing to the favorable government initiatives that promote reprocessing of medical equipment, coupled with the increasing awareness amongst the end-users to curtail the waste generated from the healthcare settings.
Rising Concern for Landfills Caused Due to Medical Wastes
In the year 2019, hospitals and surgical centers that used reprocessed single-use medical devices saved around USD 544 million, according to the statistics by the Association of Medical Device Reprocessors (AMDR). Further, around 15 million pounds of medical wastes were diverted from landfills in the same year by the use of reprocessed single-use medical devices.
The concern for landfills caused due to the deposition of wastes from different sources is significantly high. One of the major contributors to landfills is from the medical wastes. To combat the challenges, governments of nations worldwide have developed stringent norms for healthcare settings to use reprocessed medical devices so as to reduce the landfills, and therefore lower environmental pollution. Such a factor is anticipated to drive the market growth during the forecast period.
However, the stringent regulations for the reprocessing of medical devices, which also raises the operational costs of the medical device reprocessing companies, along with the high risks of infections caused due to the use of these devices in the surgical site, are expected to operate as key restraint to the growth of global reprocessed medical devices market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global reprocessed medical devices market which includes company profiling of MEDICOM eG, Elite-Medical LLC, Pelion Surgical, Moria SA, Aesculap, Inc., Millennium Surgical Corp., gSource, LLC, Sklar Surgical Instruments, Stryker Corporation (NYSE: SYK), Integra LifeSciences Corporation (NASDAQ: IART). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global reprocessed medical devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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