Medical Device Reprocessing Market to Profit from Its Low Cost

The medical device reprocessing includes cleaning, disinfection, inspection, sterilization, and repackaging of used medical devices for its reuse to diagnose and treat multiple patients.MarketsandMarkets forecasts The global medical device reprocessing market is projected to be valued at USD 823.5 Million in 2017 and is expected to grow at a CAGR of 16.3% during the forecast period to reach to USD 1,754 Million by 2022.The key factors driving the growth of this market include the low prices of reprocessed devices as compared to new ones and the pressure to reduce the volume of medical waste generated.

hindering market growth.The growth of this market is majorly driven by the increased utilization of the low priced reprocessed medical devices as compared to new devices, increased efforts towards reducing regulated medical waste (RMW), and rising number of surgical procedures associated with the growing prevalence of chronic diseases.

However, the risk of transmission of surgical site infections associated with the use of reprocessed devices may hinder the growth of the market to a certain extent.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=583The report analyzes the market by product & service, type of medical device, application, and region.

On the basis of product & service, the reprocessing support and services segment accounted for the largest share in 2016, owing to the increased adoption of third-party reprocessing services over in-house reprocessing services by hospitals, clinics, surgical centers, clinical pathologies, and other healthcare organizations.Based on type of medical device, the catheters segment accounted for the largest share in 2016 and is expected to grow at the highest CAGR during the forecast period.

The growth of this segment can be attributed to the increased utilization of reprocessed cardiac catheters, electrophysiology catheters, and diagnostic catheters in recent years.Based on application, the market is further categorized into cardiology; gastroenterology, urology, and gynecology; arthroscopy and orthopedic surgery; and general surgery and anesthesia.

In 2016, the cardiology segment accounted for the largest share of the market; this is primarily attributed to the increasing number of cardiology surgeries associated with the growing prevalence of cardiovascular diseases (CVD) across the globe.Request for Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=583The major players in the global medical device reprocessing market are Stryker Corporation (U.S.), Johnson & Johnson (U.S.), Vanguard AG (Germany), Medline ReNewal (U.S.), Medtronic plc (Ireland), SteriPro Canada, Inc.(Canada), Pioneer Medical Devices AG (Germany), Vascular Solutions, Inc. (U.S.), HYGIA Health Services, Inc. (U.S.), ReNu Medical, Inc. (U.S.), SureTek Medical (U.S.), and Centurion Medical Products Corporation (U.S.).Key Questions Addressed by the Report:Who are the major market players in the bioinformatics market?What are the growth trends and the largest revenue-generating region for bioinformatics?How are bioinformatics products and services sold to customers?What are the major segments in bioinformatics market?What are the driving, restraining, opportunistic, and challenging factors for this market?To speak to our analyst for a discussion on the above findings, click Speak to Analyst @https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=583

Medical Device Reprocessing Market Segmentation by Product & Service: Reprocessed Medical Devices, Reprocessing Support and Services; Type of Medical Device: Catheters, Laparoscopy Instruments, Biopsy Instruments, Endoscopy Instruments, Cables, Columns, and Cutters; Application: General Surgery, Cardiology, Orthopedic, Gastroenterology, Urology and Regions - Global Forecast to 2027Market ForecastRegistering a CAGR of 16.4%, the Global Medical Device Reprocessing Market is expected to reach USD 2,671.8 Million by 2025.Medical device reprocessing is gaining popularity as it allows major cost savings and reduces hospital waste.

For instance, Ascent, a subsidiary of Stryker Corporation, eliminated 1,684 tons of medical waste with the help of reprocessing.Market InfluencersThe changing regulatory scenario is some Asian countries such as Japan and China are positively influencing the market growth.

Therefore, regulatory authorities, such as the Ministry of Health, Labor and Welfare (MHLW) (Japan), in collaboration with the FDA (US), are focusing on the generation of new medical device reprocessing.Regional AnalysisOn a regional basis, the Americas is anticipated to dominate the global medical device reprocessing market owing to the presence of a favorable regulatory scenario to increase the safety and efficacy of the reprocessed medical device.

Additionally, increase in prevalence of chronic diseases and an increase in number of surgical procedures is boosting the market growth in the American region.

For instance, The UK generated 222.9 million tons of total waste in 2016, with England responsible for 85% of the UK total.Asia-Pacific is anticipated to be the fastest-growing region is due to the growing interest of major key players in emerging markets and rapidly developing healthcare infrastructure in this region.

Moreover, the major market share of the region is expected to be held by the Middle East region owing to the increasing government initiatives for the healthcare sector.

Medical Device Reprocessing Market Segmentation by Product & Service: Reprocessed Medical Devices, Reprocessing Support and Services; Type of Medical Device: Catheters, Laparoscopy Instruments, Biopsy Instruments, Endoscopy Instruments, Cables, Columns, and Cutters; Application: General Surgery, Cardiology, Orthopedic, Gastroenterology, Urology and Regions - Forecast to 2027Overview:The global report with specifics of the medical device reprocessing market reveals a proper understanding of factors like the low cost of the final products, increasing demand for recycling to ensure lesser medical waste, and others can help in devising better strategies.

The global market for medical device reprocessing market is slated to surpass a valuation of USD 2,671.8 million during the forecast period of 2019 to 2025 with a CAGR of 16.4% during the forecast period.

The cardiology segment has the largest market share as the segment is witnessing a rise in the adoption of electrophysiology catheters in various hospitals & clinics to ensure better performance of surgical procedures.Regional Analysis:The American market is the largest due to contributions made by countries like the US and Canada.

Europe provides impetus to the market as the region has strict rules supporting eco-friendly methods.Competitive Landscape:Medtronic PLC (Ireland), Stryker Corporation (US), Johnson & Johnson (US), Vanguard AG (Germany), AGITO MEDICAL A/S (Denmark), Medline Industries, Inc. (US), SteriPro (Canada), Block Imaging (US), EverX Pvt Ltd (Australia), SureTek Medical (US), ReNu Medical, Inc. (Arjo) (US), and others are some of the eminent players of the global medical device reprocessing market.

Their strategic initiatives are expected to bolster the market growth and trigger trends for the coming years.Industry News:In June 2020, Innovative Health released a new economic analysis that made an assessment of how markets are expected to get impacted by the underutilization of reprocessing in Atrial Fibrillation (AFib) and other catheter ablation procedures.

As per their report, the electrophysiology (EP) labs are losing around USD 500 million each year.

According to the new market research report “Medical Device Reprocessing Market by Product (Reprocessed Device (Catheter, Endoscope, Laparoscopic Instruments, Biopsy, Pulse Oximeter), Service), Application (Cardiology, Gastroenterology, Arthroscopy, Orthopedic, Anesthesia)”,  published by MarketsandMarkets™, medical device reprocessing market is projected to be valued at USD 823.5 Million in 2017 and is expected to grow at a CAGR of 16.3% during the forecast period to reach to USD 1,754 Million by 2022.

Base year considered for the report is 2016.Various secondary sources such as associations (including Food and Drug Administration (FDA), European Association for Medical Device Reprocessing (EAMDR), Association of Medical Device Reprocessors (AMDR), and Canadian Association of Medical Device Reprocessing (CAMDR)), directories, industry journals, databases, and annual reports of the companies have been used to identify and collect information useful for the study of this market.

Top-down and bottom-up approaches were used to validate the size of the global medical device reprocessing market and estimate the size of other dependent submarkets.Major Growth Drivers:The key factors driving the growth of this market include the low prices of reprocessed devices as compared to new ones and the pressure to reduce the volume of medical waste generated.

The medical device reprocessing includes cleaning, disinfection, inspection, sterilization, and repackaging of used medical devices for its reuse to diagnose and treat multiple patients.Expected Revenue Growth:[145 Pages Report] The global medical device reprocessing market is projected to be valued at USD 823.5 Million in 2017 and is expected to grow at a CAGR of 16.3% during the forecast period to reach to USD 1,754 Million by 2022.

To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)3.

To analyze market opportunities for stakeholders and provide details of the competitive landscape of market leaders5.

Market Analysis: Global Medical Device Reprocessing MarketMedical Device Reprocessing Market is expected to rise from its initial estimated value of USD 0.93 in 2018 billion to an estimated value of USD 2.75 billion by 2026, registering a CAGR of 14.50% in the forecast period of 2019-2026.

This rise in market value can be attributed to the Increasing number of surgical procedures.Global Medical Device Reprocessing Market By Process (Presoak, Manual Cleaning, Automatic Cleaning, Disinfection); Type (Enzymatic & Non-enzymatic Detergent); Application (Surgical Instruments, Endoscope, Ultrasound Probe);End User (Hospitals, Clinics, Diagnostic Centers), Product & Services (Reprocessing Support and Services, Reprocessed Medical Devices; Geography (North America, Europe, Asia-Pacific, Middle East and Africa, South America, Rest of the World) – Industry Trends & Forecast to 2026Download Sample Report with related Graphs and Figures@ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-medical-device-reprocessing-marketMarket Definition: Global Medical Device Reprocessing MarketThis market report defines the market trends and forecast the upcoming opportunities and threats of the pharmaceutical packaging equipment market in the next 8 years.

To avoid risk of infection by a contaminated device, reusable devices (reprocessing), a detailed, multistep process to clean and then disinfect or sterilize them.Market DriversLow prices of reprocessed medical devices, is going to drive the growth of the marketPressure to reduce volume of regulated medical waste is driving the growth of market.Market RestraintsCreating risk of surgical site infections due to the use of reprocessed devices, act as a restraints to the market.Changing regulatory scenario for medical devices act as a restraints to the market.Click here for Detailed Analysis Report https://www.databridgemarketresearch.com/reports/global-medical-device-reprocessing-marketCompetitive AnalysisGlobal medical device reprocessing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.

The report includes market shares of medical device reprocessing market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.Key Market CompetitorsFew of the major competitors currently working in the medical device reprocessing market are Stryker (US), Johnson & Johnson Services, Inc. (US), VANGUARD AG (Germany), Medline ReNewal (US), Medtronic plc (Ireland), SteriPro (Canada), Medline Industries, Inc. (Germany),Medline Industries, Inc..(US), , ReNu Medical (US), SureTek Medical (US), Centurion Medical Products (US), Agito Medical A/S (Europe), Innovative Health.

(US), Nescientific Inc.(USA), , Synergy Health plc (US), GENERAL ELECTRIC COMPANY (US), Siemens Healthcare GmbH(Germany), Soma Technology, Inc.(USA), among others.Access Full Report@ https://www.databridgemarketresearch.com/checkout/buy/singleuser/global-medical-device-reprocessing-marketResearch Methodology: Global Medical Device Reprocessing MarketData collection and base year analysis is done using data collection modules with large sample sizes.

Also market share analysis and key trend analysis are the major success factors in the market report.

The global endoscope reprocessing device market to grow from US$ 949.9 Mn in 2016 to US$ 2,171.5 Mn by 2027 end.

This represents CAGR of 7.9% over the forecast period of 2017–2027.

Endoscope are used on number of patients, after use it is contaminated with microorganism and it is necessary to clean it and make it microorganism free.

For cleaning, sterilisation and disinfection of endoscope and use of endoscope reprocessing device, one must follow the manufacturer’s direction and various standard organisation process to achieve the micro- organism free cleaning and to avoid the future complications.Endoscope Reprocessing Device Market: Key PlayersSome of the key players in the Global endoscope reprocessing device market are STERIS Plc., Cilag GmbH International, Soluscope, ENDO-TECHNIK W.Griesat GmbH, Getinge AB, Wassenburg Medical B.V., Steelco S.p.A., MEDIVATORS Inc. (Cantel Medical Corp.), Johnson & Johnson and Minntech Corp.Request Report Sample@ www.futuremarketinsights.com/reports/sample/rep-gb-2058Endoscope Reprocessing Device Market: Drivers and RestraintsEndoscope reprocessing device market is expected to rise due to increase in the number of the endoscope surgical procedures and also rise in the hospital acquired infections.

However limitation in cleaning the endoscope such as heat sensitive material or chemical sensitive material, skilled and professional person are required to use the device to avoid future complications may hamper the growth of endoscope reprocessing device market over the forecast period.Endoscope Reprocessing Device Market: SegmentationGlobal endoscope reprocessing device market has been segmented on the basis of product type, modality, end user and region.Based on the product type, the endoscope reprocessing device market is segmented into the following:Ultrasonic washersPasteurizersWasher-disinfectorsSterilizersAutomated endoscope reprocessors (AERs)Single basin automated endoscopic reprocessorsDouble basin automated endoscopic reprocessorsBased on the modality, the endoscope reprocessing device market is segmented into the following:Stand- alone endoscopic reprocessorsBench top endoscopic reprocessorsBased on the end user, the endoscope reprocessing devicemarket is segmented into the following:Hospital500 Bedded+250-499 BeddedLess than 250Ambulatory Surgical CentersSpecialty ClinicsContact Sales for Further Assistance in Purchasing this Report@ https://www.futuremarketinsights.com/checkout/2058Endoscope Reprocessing Device Market: OverviewEndoscope reprocessing device market is changing continuously due to increase in the uses of endoscope in various disease and disorders.

single basin automated endoscopic reprocessors and double basin automated endoscopic reprocessors are like to show positive impact on the market.

Market Highlights:Medical Device Reprocessing Market Segmentation by Product & Service: Reprocessed Medical Devices, Reprocessing Support and Services; Type of Medical Device: Catheters, Laparoscopy Instruments, Biopsy Instruments, Endoscopy Instruments, Cables, Columns, and Cutters; Application: General Surgery, Cardiology, Orthopedic, Gastroenterology, Urology and Regions – Global Forecast to 2025Registering a CAGR of 16.4%, the Global Medical Device Reprocessing Market is expected to reach USD 2,671.8 Million by 2025.Medical device reprocessing is gaining popularity as it allows major cost savings and reduces hospital waste.

For instance, Kaiser Permanente, a US-based integrated delivery network, saves approximately USD 11 million on an annual basis by reprocessing of medical devices.

Medical waste treatment puts lots of cost pressure on hospitals; however, in countries such as the US, Japan and China, it has become a full-fledged industry.

For instance, Ascent, a subsidiary of Stryker Corporation, eliminated 1,684 tons of medical waste with the help of reprocessing.Market Key Players:Medtronic PLC (Ireland)Stryker Corporation (US)Johnson & Johnson (US)Vanguard AG (Germany)AGITO MEDICAL A/S (Denmark)Medline Industries, Inc. (US)SteriPro (Canada)Block Imaging (US)EverX Pvt Ltd (Australia)SureTek Medical (US)ReNu Medical, Inc. (Arjo) (US)Request Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/8796      Segment AnalysisThe Global Medical Device Reprocessing Market has been segmented into Product & Service, Type Of Medical Device, and Application.By product & service, the market has been segregated into reprocessed medical devices and reprocessing support and services.

The reprocessing support and services are expected to hold the largest market share due to the rising preference of customers for reprocessing services by third-party reprocesses with reduced expenses and decreased environmental impact.By type of medical device, the market has been bifurcated into catheters, laparoscopy instruments, biopsy instruments, endoscopy instruments, and cables, columns, and cutters.On the basis of application, the global medical device reprocessing market has been classified as general surgery, cardiology, orthopaedic, gastroenterology, urology, and others.

The cardiology segment is expected to hold the largest market share owing to the increasing adoption of electrophysiology catheters by hospitals & clinics for various surgical procedures.Regional Analysis:On a regional basis, the Americas is anticipated to dominate the global medical device reprocessing market owing to the presence of a favorable regulatory scenario to increase the safety and efficacy of the reprocessed medical device.