Reprocessed Medical Devices Market Size, Share & Trends Analysis Report By Product (Cardiovascular, Laparoscopic, Gastroenterology, General Surgery, Orthopedic), By End-use, And Segment Forecasts, 2012 - 2022

Industry Insights

The global reprocessed medical devices market size was estimated at USD 1.64 billion in 2016 and is anticipated to grow at a CAGR of 20.6% over the forecast period. Rising clinical urgency to reduce the generation of medical waste in hospitals and other healthcare settings is a significant growth driver of the market.

High pressure to increase the adoption of reprocessed medical devices owing to the associated benefits such as high-cost efficiency is a major impact rendering growth driver of the reprocessed market. The aforementioned factor can be attributed to low cost reprocessing in comparison with the production cost involved in the manufacturing of original equipment coupled with rising need to curb expenditure in medical waste disposal.

Regulated medical waste (RMW) costs approximately 5 to 10 times more in comparison to the disposal of regular solid waste thereby augmenting the demand for the overall market during the study period. In addition, reprocessing methodological advancements coupled with an increasing number of third-party reprocessors is anticipated to present the industry with lucrative growth opportunities. The aforementioned factors are anticipated to contribute towards the development of industry in the immediate future.

The industry is expected to showcase incremental growth owing to the rising inclination of healthcare professionals towards single-use reprocessed devices (SUDs) as a measure to ensure patient safety by reducing the risk of contracting infections and significant cost reduction. According to the Association of Medical Device Reprocessors (AMDR), adoption of SUDs saves up to 50% of the hospital cost and aid in the reduction of waste. Moreover, these products hold standards as that of originally manufactured devices thereby enhancing patient safety and generating demand for these products.

Product Insights

The cardiovascular segment held the largest share of 56.1% of the total market owing to extensive utilization of these products in cardiovascular surgeries and diagnostics. These devices include blood pressure cuffs, cardiac positioning and stabilization devices, blood pressure monitoring, electrophysiology cables, and diagnostic electrophysiology catheters.

Rising number of cardiovascular surgeries & treatments are bolstering the need for cost-efficient alternatives consequentially driving the demand for the segment. Furthermore, the advent of low-cost and single-use cardiovascular reprocessed devices have resulted in increased adoption thereby contributing to the overall segment growth.

Moreover, increasing FDA approvals for reprocessed cardiovascular products are contributing towards the substantial share of the segment. This segment is also anticipated to grow lucratively at a CAGR of 20.9% as a consequence of constant efforts of industry players towards the promotion of reprocessing techniques through strategic alliances and frequent FDA approvals. Owing to the aforementioned factors the demand for these products is anticipated to increase in the future.

The laparoscopy segment accounted for the second-largest share of the industry on the basis of products. The high amount of waste generation as a consequence of the usage of disposable devices is driving the demand for reprocessed laparoscopic devices. Growing demand for minimally invasive techniques is expected to present opportunities for more reprocessing approvals pertaining to laparoscopy thereby contributing to the growth of this segment. Moreover, the presence of organizations such as ECRI Institute which provide healthcare risk control services to control the risk factors associated with these devices is expected to bolster the segment demand over the coming years.

End-Use Insights

The hospital segment held the largest share of the industry owing to increasing pressure to control waste generation & cost reduction. Moreover, the presence of in-house reprocessing units and rising number of collaborations with third-party reprocessors are responsible to augment the growth during the future period and presenting the industry with lucrative opportunities.

The rising number of third-party reprocessing organizations has triggered the incorporation of reprocessed products resulting in the conservation of in-house resources and the consequent cost reduction. According to PubMed, the National Institutes of Health, in the U.S. in 2007, about 45% of hospitals entered into a collaborative agreement with third-party reprocessing organizations and reached 70% in 2008.

The rising inclination towards reprocessed products has a positive cumulative effect on the overall business owing to the highly competitive environment between Original Equipment Manufacturers (OEMs) and third-party processors. Consequentially, OEMs lower the prices, therefore reducing the overall cost of healthcare. In addition, modern infrastructural support and the availability of skilled healthcare professionals & technicians are responsible for facilitating market development over the coming years.

Home healthcare is predicted to grow at a moderate rate over the forecast period as a consequence of the rising need for low-cost home equipment. Refurbished home medical equipment includes orthopedic devices, patient monitoring systems, and external support devices which enhance the patient mobility profile at home. Furthermore, the increasing scope for incorporation of reprocessed products in-home healthcare as a consequence of a lesser number of home medical device suppliers is presumed to trigger the growth prospects.

Regional Insight

North America accounted for the largest regional market at USD 540.9 million. Rising need to curtail the waste generation and potential damage to the environment owing to the increasing waste landfills over this region is a major driver in this region. Increasing demand to curb healthcare expenditure coupled with the shortage of establishments for proper waste disposal is driving the growth of this region

In addition, favorable government initiatives to promote awareness pertaining to reprocessing of equipment are expected to provide this market with significant growth opportunities. Moreover, the presence of stringent regulatory framework in order to ensure patient safety is expected to widen the base for high quality reprocessed devices, therefore generating potential future growth prospects.

It is followed by Europe in terms of revenue share owing to the high awareness levels and initiatives to curb the overall healthcare expenditure over this region. The presence of organizations such as the European Association for Medical Device Reprocessing (EAMDR), which promotes awareness through collaborating with research institutes, companies, and associations to strengthen reprocessing of products is responsible for boosting the reprocessed medical devices market growth.

Asia Pacific is anticipated to grow at a lucrative rate due to the presence of emerging economies, which focus on operating within a controlled budget. This is expected to be a significant growth factor of the industry during the future period. Moreover, rising investment in healthcare infrastructure by global market players is expected to provide a potential growth platform to the industry in Asia Pacific.

Reprocessed Medical Devices Market Share Insights

Technological advancements in the methods of inspection, testing, cleaning, and sterilization of devices that render them reusable and safe for their clinical application has led to the overall development of the industry. Owing to this, the market player is engaged in discovering new methods to reduce the refurbishment cost.

Key market players catering to this industry include VANGUARD AG, Stryker Sustainability Solutions, Philips Healthcare, Medisiss, Sterilmed, Hygia Health Services Inc., Centurion Medical Products Corporation, Agito Medical A/S, EverX Pvt Ltd, Soma Technology, Inc., Siemens Healthcare, Block Imaging International, Inc., DRE, Inc., Radiology Oncology Systems, Inc., GE Healthcare, Suretek Medical, Integrity Medical Systems, Inc., ReNu, Midwest Reprocessing Center.

In a bid to achieve greater market penetration, the major players are resorting to various strategies such as mergers and acquisitions. For instance, in January 2013, VANGUARD AG acquired Omasa SA, a reprocessed medical device company in France. This acquisition was carried out to enhance the former's product portfolio and expand its regional presence.

Growing number of players, efficient distribution agreements, and frequent product approvals have led to the increase in market competition. As a result, competitive rivalry in the industry is anticipated to be high over the forecast period.          

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, & country levels and provides an analysis of the industry trends in each of the sub-segments from 2012 to 2022. For the purpose of this study, Grand View Research has segmented the global reprocessed medical devices market report on the basis of product, end use, and region:

• Product Outlook (Revenue, USD Million, 2012 - 2022)

  • Cardiovascular

    • Blood Pressure Cuffs

    • Positioning Devices

    • Cardiac Stabilization Devices

    • Diagnostic Electrophysiology Catheters

    • Electrophysiology Cables

    • Deep Vein Thrombosis Compression Sleeves

  • Laparoscopic

    • Harmonic Scalpels

    • Endoscopic Trocars

  • Gastroenterology

    • Biopsy Forceps

    • Others

  • General Surgery Devices

    • Balloon Inflation Devices

    • Pressure Bags

  • Orthopedic Devices

• End-use Outlook (Revenue, USD Million, 2012 - 2022)

  • Hospitals

  • Home Healthcare

  • Others

• Regional Outlook (Revenue, USD Million, 2012 - 2022)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • The Middle East and Africa

    • South Africa