Global Reprocessed Medical Devices Market is valued at approximately USD 2.3 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 16.8% over the forecast period 2023-2030. The Reprocessed Medical Devices Market refers to the market segment that involves the cleaning, disinfection, testing, refurbishment, and redistribution of previously used medical devices, with the aim of reducing costs, minimizing waste, and maintaining quality standards. This practice can help to reduce healthcare costs, minimize waste, and promote sustainability in the healthcare industry. The Reprocessed Medical Devices Market is being driven by factors such as growing concern regarding the rising amounts of medical waste and the increasing need for affordable & effective medical devices.
Reprocessed medical devices are help to reduce cost of medical device and also to reduce medica waste. According to the Association of Medical Device Reprocessors (AMDR), these reprocessed devices are typically 30-50% cheaper than new ones. Along with that reprocess medical device also help to save medical device cost for hospitals and individuals. In 2020, U.S. hospitals were able to save USD 372 million through medical device reprocessing, as reprocessed devices cost 25-40% less and contribute to the reduction of medical waste, according to the Association of Medical Device Reprocessors (AMDR). Additionally, in 2021, the use of reprocessed medical devices helped divert 20.3 million pounds of medical waste, as reported by AMDR. Thus, the lower price of reprocessed medical devices and growing concern about medical waste management fueling the growth of the market. In addition, government initiatives of medical waste management and technological advancement in medical waste management. However, the inconsistent reimbursement policies hinder market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Reprocessed Medical Devices Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the government initiatives of medical waste management and favorable reimbursement policies in the region. North America is also considered the fastest growing region during the forecast period due to awareness and acceptance of reprocessed medical devices in the region.
Major market player included in this report are:
- Vanguard AG
- Cardinal Health
- SureTek Medical
- Soma Tech Intl
- Johnson & Johnson MedTech
- Stryker
- Innovative Health LLC
- NEScientific, Inc.
- Medline Industries, LP
- Arjo
Recent Developments in the Market:
- In March 2023, Vanguard AG, a leading provider of remanufactured medical devices, unveiled a strategic partnership with Leeds Teaching Hospitals NHS Trust, one of the UK's prominent healthcare providers. The primary objective of this collaboration is to drive the adoption of remanufactured medical devices as a means to achieve cost reduction and foster a sustainable healthcare ecosystem. By joining forces, Vanguard AG and Leeds Teaching Hospitals NHS Trust aim to promote the use of remanufactured medical devices, which not only offer cost-saving benefits but also contribute to creating a more environmentally friendly healthcare environment. This partnership demonstrates a shared commitment to enhancing healthcare affordability, sustainability, and quality through the utilization of remanufactured medical devices.
Global Reprocessed Medical Devices Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Product, Type, End Use, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
- Cardiovascular
- Laparoscopic
- Gastroenterology
- General Surgery Devices
- Orthopedic Devices
By Type:
- Third-party Reprocessing
- In-house Reprocessing
By End Use:
- Hospitals
- Home Healthcare
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Reprocessed Medical Devices Market , by Region, 2020-2030 (USD Billion)
- 1.2.2. Reprocessed Medical Devices Market , by Product, 2020-2030 (USD Billion)
- 1.2.3. Reprocessed Medical Devices Market , by Type, 2020-2030 (USD Billion)
- 1.2.4. Reprocessed Medical Devices Market , by End Use, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Reprocessed Medical Devices Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Reprocessed Medical Devices Market Dynamics
- 3.1. Reprocessed Medical Devices Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Growing concern regarding the rising amounts of medical waste
- 3.1.1.2. Increasing need for affordable & effective medical devices
- 3.1.2. Market Challenges
- 3.1.2.1. Inconsistent Reimbursement Policies
- 3.1.3. Market Opportunities
- 3.1.3.1. Government initiatives of waste medical waste management
- 3.1.3.2. Technology advancement in medical waste management
Chapter 4. Global Reprocessed Medical Devices Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Reprocessed Medical Devices Market, by Product
- 5.1. Market Snapshot
- 5.2. Global Reprocessed Medical Devices Market by Product, Performance - Potential Analysis
- 5.3. Global Reprocessed Medical Devices Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
- 5.4. Reprocessed Medical Devices Market , Sub Segment Analysis
- 5.4.1. Cardiovascular
- 5.4.2. Laparoscopic
- 5.4.3. Gastroenterology
- 5.4.4. General Surgery Devices
- 5.4.5. Orthopedic Devices
Chapter 6. Global Reprocessed Medical Devices Market, by Type
- 6.1. Market Snapshot
- 6.2. Global Reprocessed Medical Devices Market by Type, Performance - Potential Analysis
- 6.3. Global Reprocessed Medical Devices Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
- 6.4. Reprocessed Medical Devices Market , Sub Segment Analysis
- 6.4.1. Third-party Reprocessing
- 6.4.2. In-house Reprocessing
Chapter 7. Global Reprocessed Medical Devices Market, by End Use
- 7.1. Market Snapshot
- 7.2. Global Reprocessed Medical Devices Market by End Use, Performance - Potential Analysis
- 7.3. Global Reprocessed Medical Devices Market Estimates & Forecasts by End Use 2020-2030 (USD Billion)
- 7.4. Reprocessed Medical Devices Market , Sub Segment Analysis
- 7.4.1. Hospitals
- 7.4.2. Home Healthcare
- 7.4.3. Others
Chapter 8. Global Reprocessed Medical Devices Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. Reprocessed Medical Devices Market , Regional Market Snapshot
- 8.4. North America Reprocessed Medical Devices Market
- 8.4.1. U.S. Reprocessed Medical Devices Market
- 8.4.1.1. Product breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. End Use breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Reprocessed Medical Devices Market
- 8.5. Europe Reprocessed Medical Devices Market Snapshot
- 8.5.1. U.K. Reprocessed Medical Devices Market
- 8.5.2. Germany Reprocessed Medical Devices Market
- 8.5.3. France Reprocessed Medical Devices Market
- 8.5.4. Spain Reprocessed Medical Devices Market
- 8.5.5. Italy Reprocessed Medical Devices Market
- 8.5.6. Rest of Europe Reprocessed Medical Devices Market
- 8.6. Asia-Pacific Reprocessed Medical Devices Market Snapshot
- 8.6.1. China Reprocessed Medical Devices Market
- 8.6.2. India Reprocessed Medical Devices Market
- 8.6.3. Japan Reprocessed Medical Devices Market
- 8.6.4. Australia Reprocessed Medical Devices Market
- 8.6.5. South Korea Reprocessed Medical Devices Market
- 8.6.6. Rest of Asia Pacific Reprocessed Medical Devices Market
- 8.7. Latin America Reprocessed Medical Devices Market Snapshot
- 8.7.1. Brazil Reprocessed Medical Devices Market
- 8.7.2. Mexico Reprocessed Medical Devices Market
- 8.8. Middle East & Africa Reprocessed Medical Devices Market
- 8.8.1. Saudi Arabia Reprocessed Medical Devices Market
- 8.8.2. South Africa Reprocessed Medical Devices Market
- 8.8.3. Rest of Middle East & Africa Reprocessed Medical Devices Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Vanguard AG
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. Vanguard AG
- 9.3.3. Cardinal Health
- 9.3.4. SureTek Medical
- 9.3.5. Soma Tech Intl
- 9.3.6. Johnson & Johnson MedTech
- 9.3.7. Stryker
- 9.3.8. Innovative Health LLC
- 9.3.9. NEScientific, Inc.
- 9.3.10. Medline Industries, LP
- 9.3.11. Arjo
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption