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2021
Medical Device Reprocessing Market

Medical Device Reprocessing Market by Product & Service (Reprocessed Medical Devices and Reprocessing Support & Services), Type of Medical Device (Catheters, Laparoscopy Instruments, Biopsy Instruments, Endoscopy Instruments, Cables, Columns, and Cutters), and Application (General Study, Cardiology, Orthopedic, Gastroenterology, Urology, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

A12664
Pages: NA
Oct 2021 | 87 Views
   
Author(s) : Onkar Sumant
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Charts: NA
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Medical device that is reusable provide healthcare professionals with an opportunity to treat multiple patients. Though the idea seems quite fascinating, reusable devices are often prone to severe contamination that have presence of biological debris. This debris allows microbes to escape disinfection process causing severe healthcare-associated infections (HAIs). Thus, the device has to undergoes “reprocessing,” wherein a multistage process is carried out to disinfect it. The multistage process starts with cleaning, disinfecting, inspecting, and sterilization of the devices. The process results in a highly sterilized device that can be used more than once on the same patient. Inadequate and unbalanced reprocessing may lead to underlying issues such as tissue irritation.

Market Scope and Structure Analysis

Report Metric

Details

 Market Size Available for Years

 2020–2030

 Base Year Considered

 2020

 Forecast Period

 2021–2030

 Forecast Unit

 Value (USD)

 Segments Covered

Product & Service, Type of Medical Device, Application, and Region

 Regions Covered

 North America, Europe, Asia-Pacific, and LAMEA

 Companies Covered

Stryker Corporation, Johnson & Johnson, Medtronic PLC, Vanguard AG, Medline Industries, Inc., Agito Medical A/S, EverX Pvt Ltd., Block Imaging, SureTek Medical, SteriPro, ReNu Medical, Inc.

 

COVID-19 Impact Analysis

Increase has been witnessed in the demand for medical supplies to take care of infected population. Respiratory support devices such as atomizers, life support machines, oxygen generators, and monitors are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. The need for medical supplies has increased significantly among both from healthcare professionals and civil population for precautionary measures, owing to rise in number of COVID-19 cases worldwide. Manufacturers of these products have a chance to capitalize this increased demand for medical supplies to ensure adequate and continuous supply of personal protective equipment in the market. Therefore, COVID 19 is expected to have a significant impact on the global medical device reprocessing market.

Top Impacting Factors

  • Use of reusable medical devices can ease out supply chain burdens for hospitals working on tight budgets by significantly reducing the cost required to reprocess the device. The process involves taking into cognizance all the stakeholders involved right from the top leadership to the clinical staff and subsequently conducting the research. Device such a catheter, which is disposed after first use can be reprocessed and made available for future use. This results in a reprocessed catheter, which is half price, thus easing out the company finances.
  • Another important factor impacting the medical device reprocessing boom is the waste management. Single-use devices such as catheters and surgical drills are designed for a single-use setup and are disposed post that. This leads to a large chunk of medical waste that is tossed in the oceans. To counter this, reprocessing provides a way out by improving the circular system approach, thus enhancing healthcare industry’s environmental performance.
  • However, reuse of single-use devices may lead to serious pitfalls for the patients, including injuries and cross-infection. To add on, diagnostic errors may have potential hazardous consequences.
  • As the patient under consideration is the ethical center of the whole market structure, the patient should be informed beforehand about the potential risks of carrying out the diagnosis through reprocessed medical devices and should thus consciously agree for the treatment.

Key Market Trends

  • Healthcare workers in Europe are reusing single-use medical devices due to benefits it provides such as overall cost saving and environment friendliness.
  • Countries such as Japan and France wherein there were no set guidelines and regulations for the use of  single-use medical devices have now mandated the use of reprocessing technique, owing to growing demand and pressure from global market players.
  • Asia-Pacific is witnessing growth in the reprocessing market, owing to rising cases of chronic diseases; rising healthcare expenditures in countries such as India, China, and Bangladesh; and   general awareness about the reprocessed medical devices.
  • COVID-19 has severely  impacted the whole medical device industry with health experts and critics implementing stringent regulations on reprocessed medical device.

Key Segments Covered

Segment

Subsegment

 Product & Service

  • Reprocessed Medical Devices
  •  Reprocessing Support & Services

 Medical Device

  • Catheters
  • Laparoscopy Instruments
  •  Biopsy Instruments
  •  Endoscopy Instrument
  •  Cables
  •  Columns and Cutters

 Application

  • General Study
  •  Cardiology
  • Orthopedic
  •  Gastroenterology
  • Urology
  • Others

 Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA


Key Benefits of the Report

  • This study presents the analytical depiction of the medical device reprocessing along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the market share.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in the Medical Device Reprocessing Market Report

  • Which are the leading players active in the medical device reprocessing market?
  • How is each segment of the market expected to grow during the forecast period?
  • What are the adoption trends for the medical device reprocessing market in emerging economies and established economies across the world?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What future projections would help in taking further strategic steps?
  • What are the impacts of COVID-19 in the industry?
  • What is adenovirus diagnostic testing?
  • What is the adenovirus diagnostic testing market prediction in the future?
  • What are the current trends and predicted trends?
 
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