Medical Device Reprocessing Market Indicates Impressive Growth Rate Improving the Health of the Patients & Pharmaceuticals Industry

Medical device reprocessing market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 16.10% in the forecast period of 2021 to 2028 and is expected to reach USD 8,588.95 million by 2028 from USD 2,636.41 million in 2020. Increasing involvement of medical device reprocessing workflow, trending bio banking scenario, and increase in outsourcing medical device reprocessing are the key drivers of the market for global medical device reprocessing market.

The Medical Device Reprocessing Market is growing with factors such as increased medical waste, rise in novel technological developments in medical device reprocessing, and strategic initiatives by market players.A medical device is any device intended to be used for medical purposes. The difference between medical devices from an everyday device is its intended use. Medical device helps in diagnosis, treating and improving the health of the patients. Reprocessing is relating to the treatment of materials in order to make them reusable. Reprocessing is regarded as the cleaning, disinfecting, sterilizing, reconditioning, repairing and refurbishing of medical devices.

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According to Data Bridge Market Research, the market for the medical device reprocessing in North America region has the highest market share of 45.68% in 2021. Market leader is STERIS plc and Stryker which accounts an estimated market share of approximately 10.72% and 9.48%. The company has gained outstanding sale through providing the supply of reprocessed medical devices associated with reuse, sterilization, treatment and packaging and rapid product approvals.

For instance, In January 2020, STERIS plc had acquired Cantel Medical via the U.S. subsidiary. Cantel is a global provider of infection prevention products and services primarily to endoscopy and dental Customers. Under this agreement, it will be beneficial to the market, when STERIS plc will acquire Cantel in the cash and stock transaction valued at USD 84.66 per Cantel common share. The acquisition will provide both the companies to showcase a diverse range of infection prevention and procedural products and reprocessing services.

Key Market Competitors Covered in the Report

• Stryker
• General Electric
• Johnson & Johnson Services, Inc.
• 3M
• Cantel Medical
• Olympus Corporation
• STERIS
• Medline Industries, Inc.
• Medtronic
• EverX
• Vanguard AG
•  Avante Health Solutions
•  SteriPro
• Getinge AB
• SureTek Medical
• SOMA TECH INTL
• NEScientific, Inc
• Cardinal Health
• Renu Medical (a subsidiary of Arjo)
• INNOVATIVE HEALTH

Global Medical Device Reprocessing Market Scope and Market Size

The medical device reprocessing market is categorized into six notable segments which are based on the type, product & service, process, devices type, application and end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

On the basis of type, the global medical device reprocessing market is segmented into enzymatic and non-enzymatic detergent. In 2021, the enzymatic segment is expected to dominate the global medical device reprocessing market due to the rise in pressure to reduce the volume of regulated medical waste and minimize healthcare expenditure.

On the basis of product & services, the global medical device reprocessing market is segmented into reprocessing support and services and reprocessed medical devices. In 2021, the reprocessed medical devices segment is expected to dominate the global medical device reprocessing market as these reprocessed medical devices lead to significant savings in the healthcare sector, help in minimizing the infection and are equally efficient as the original device.

.On the basis of process, the global medical device reprocessing market is segmented into presoak, manual cleaning, automatic cleaning and disinfection. In 2021, the automatic cleaning segment is expected to dominate the global medical device reprocessing market due to the rise in pressure to reduce volume of regulated medical waste.

On the basis of devices type, the global medical device reprocessing market is segmented into critical devices, semi-critical devices and non-critical devices. In 2021, the semi-critical segment is expected to dominate the global medical device reprocessing market due to the rise in medical waste and hospital infections

On the basis of application, the global medical device reprocessing market is segmented into devices and accessories. In 2021, the devices segment is expected to dominate the global medical device reprocessing market as these devices leads to significant savings in the healthcare sector.

On the basis of end user, the global medical device reprocessing market is segmented into hospitals, clinics, home healthcare, diagnostic centers, manufacturers, ambulatory surgical centres’ and others. In 2021, the hospitals segment is expected to dominate the global medical device reprocessing market due to the increase in sudden adaptation and demand of reprocessed medical devices in hospitals.

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Medical Device Reprocessing Market Country Level Analysis

The countries covered in the medical device reprocessing market report are the U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Netherlands, Switzerland, Russia, Turkey, rest of Europe, China, Japan, India, South Korea, Australia, Thailand, Malaysia, Singapore, Indonesia, rest of Asia-Pacific, South Africa, rest of Middle East and Africa, Brazil and rest of South America.

North America is expected to dominate the market a due to the presence of the largest consumer market with high GDP. The North America region holds the majority of the share in the medical device reprocessing market and is expected to witness the CAGR during the forecast period due to increasing involvement PDA guidelines, and trending medical reprocessed devices scenario among other factors.

In 2021, the non-enzymatic detergent segment is expected to dominate in the U.S, U.K. and Japan. In North America, U.S. is growing at the highest rate because of increase in outsourcing of medical device reprocessing. In Asia-Pacific, Japan is expected to grow with the highest CAGR in the forecasted periods because of rapidly increasing product usage, and advancement in technology for automation. U.K. in Europe is expected to grow with the most promising growth rate in the forecast period with increase in R&D activities in pharma and biotech sectors.

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