Reprocessed Medical Devices Market by Product Type (Cardiovascular Medical Devices, Laparoscopic Medical Devices, Orthopaedic/ Arthroscopic Medical Devices), by End-user (Hospitals, Clinics, Ambulatory Surgical Centres, Community Healthcare, Diagnostic Laboratories, Others) and Geography

 

Reprocessed Medical Devices Market size was valued at USD 2,482.6 million in 2021, growing at a CAGR of 13.9% from 2022 to 2028. The global market provides a detailed overview and that can be segmented by product type and by end user. By product type, the global reprocessed medical devices market has been segmented into Cardiovascular Medical Devices, Laparoscopic Medical Devices, and Orthopaedic/ Arthroscopic Medical Devices. The Cardiovascular Medical Devices segment is likely to be the largest and fastest-growing segment in terms of type in 2021 and is expected to maintain the trend in the forecasted years according to precision business insights. It is attributed to the increasing prevalence of cardiac diseases and higher demand for diagnostic and cardiac procedures. Also, the increasing adaption rate of advanced medical devices and reduced cost associate with these devices and maintenance of the devices will further drive the global market in the forecasted years. Based on end user, the global reprocessed medical devices market is segmented into Hospitals, Clinics, Ambulatory Surgical Centres, Community Healthcare, Diagnostic Laboratories, and Others. The Hospitals segment accounts for the largest share in 2021 and is anticipated to register a significant CAGR in the upcoming years. It is due to the large number of patient base in the hospital segment, the presence of in-house reprocessing units and rising number of collaborations with third-party. Reprocessing is basically recycling of medical devices. Key Developments: In April 2017, The European Union passed a comprehensive new EU wide Medical Device Regulation (MDR).  For SUD (Single Used Devices) reprocesses, this is a major development as Europe now has in place a “manufacturer” regulatory path for reprocessed SUDs. In November 2011, Ethicon Endo-Surgery, Inc. medical devices company acquired SterilMed, Inc. US-based reprocessing & remanufacturing company of single-use medical devices