The reprocessed medical devices market stood at a valuation of US$ 2.05 Bn in 2020, and is projected to surge to US$ 5.9 Bn by the end of 2028.
Increasing healthcare expenditure owing to the rising patient pool is expected to bolster demand for reprocessed medical devices as healthcare institutions focus on lowering operational costs. Increasing geriatric population, favorable regulatory policies, and rising focus on healthcare are anticipated to be other trends propelling reprocessed medical devices market potential over the coming years.
Demand for reprocessed medical devices is anticipated to be high in developing economies where healthcare spending potential is less.
Key reprocessed medical device suppliers are focusing on launching new and innovative products to advance medical device reprocessing procedures and increase revenue potential.
- In December 2021, PENTAX Medical announced the launch of PlasmaTYPHOON’s second generation systems, which is aimed at accelerating endoscope reprocessing and giving healthcare professionals more choices. These new systems will accelerate the process by reducing drying times from hours to minutes.
Key Takeaways from Market Study
- In 2020, the global reprocessed medical devices market held a revenue total of US$ 2.05 Bn.
- Consumption of reprocessed medical devices is predicted to surge at an impressive CAGR of 14.9% from 2021 to 2028.
- The reprocessed medical devices market is anticipated to be worth US$ 5.9 Bn by 2028.
- Increasing focus on healthcare, rising healthcare expenditure, and growing popularity of reprocessed medical devices are anticipated to be prominent trends governing market potential.
- The cardiovascular devices segment is anticipated to lead the global reprocessed medical devices sales over the coming years.
- North America is expected to account for around 40% of the global reprocessed medical devices market share by the end of 2028.
“Increasing focus on healthcare in developing nations with less spending potential will see major adoption of reprocessed medical devices through 2028,” says a Fact.MR analyst
Reprocessed medical device manufacturers are focusing on mergers and acquisitions to expand their product portfolios and increase their sales. Favorable regulatory policies are also expected to promote reprocessed medical device suppliers to advance their sales potential and increase revenue.
Reprocessed medical device companies are investing in the development of better reprocessing facilities to meet increasing demand. Favorable government initiatives to boost the adoption of reusable medical devices are also expected to be capitalized on by key reprocessed medical devices market players over the forecast period.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global reprocessed medical devices market, presenting historical demand data (2017-2020) and forecast statistics for the period of 2021-2028.
The study divulges essential insights on the market on the basis of device type (cardiovascular devices, general surgery devices, laparoscopic devices, orthopedic external fixation devices, gastroenterology biopsy forceps) and across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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