Reprocessed Medical Devices Market Size, Share & Trends Report

Reprocessed Medical Devices Market Size, Share & Trends Analysis Report By Product (Cardiovascular, Laparoscopic), By Type (Third-party, In-house) By End-use (Hospitals, Home Healthcare), And Segment Forecasts, 2023 - 2030

  • Report ID: 978-1-68038-848-0
  • Number of Pages: 100
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2021
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the reprocessed medical devices market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for reprocessed medical devices market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of reprocessed medical devices market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Reprocessed Medical Devices Market Categorization:

The reprocessed medical devices market was categorized into four segments, namely product (Cardiovascular, Laparoscopic, Gastroenterology, General Surgery Devices, Orthopedic Devices), type (Third-party Reprocessing, In-house Reprocessing), end-use (Hospitals, Home Healthcare), and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Segment Market Methodology:

The reprocessed medical devices market was segmented into product, type, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The reprocessed medical devices market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; Germany; the UK; Spain; France; Italy; Sweden; Norway; Denmark; Japan; China; India; Australia; Thailand; South Korea; Brazil; Mexico; Argentina; South Africa; UAE; Saudi Arabia; Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Reprocessed medical devices market companies & financials:

The reprocessed medical devices market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Stryker Sustainability Solutions is based in the U.S. and was founded in 1987. The company provides medical device remanufacturing, reprocessing, and consulting services for surgical centers & hospitals as its key customers. The portfolio includes services for EP & cardiovascular devices, such as heart positioners, tissue stabilizers, EP catheters & cables, and ultrasound catheters. on-invasive devices consist of ECG leads & wires, Deep Vein Thrombosis (DVT) compression sleeves, pneumatic tourniquet cuffs and re-sterilization of biliary stents, vena cava filters, embolization coils, dilation balloon catheters (peripheral), ureteral stents, atherectomy devices, introducer sets, aneurysm clips, and guide wires. It also engages in remanufacturing and reprocessing of surgical and orthopedic devices. Stryker Sustainability Solutions is a subsidiary of Stryker Corporation. In July 2012, Siemens Healthcare opened a Refurbished Systems Factory in Suburban Chicago, which helped in the business expansion.

  • MEDISISS is a medical device company from the United States. The company was formed in 1997 and is now headquartered in Oregon. It is registered as a third-party remanufacturer of single-use devices. The services provided include testing, cleaning, sterilizing, refurbishing, and packing of reusable surgical devices. The reprocessed devices are arthroscopic ablation wands, carpal tunnel release blades, arthroscopic shavers & abraders, compression sleeves, ENT collators and shaver blades, electric & non-electric biopsy forceps, and general surgery instruments. It also provides integrated supply chain solutions utilized in the inventory management systems of healthcare facilities. In 2012, MEDISISS was acquired by Medline Industries company. Medline ReNewal functions as a subsidiary of Medline Industries which deals in medical device reprocessing.

  • Sterilmed, Inc. is a subsidiary company of Johnson and Johnson headquartered in the United States. It delivers sustainable solutions to hospitals without cutting the cost of patient care. The service offering entails equipment repair, medical device reprocessing, and pre-owned equipment sales. In July 2011, Ethicon Endo-Surgery, Inc. acquired Sterilmed, Inc., which is a part of the Johnson & Johnson family. This acquisition broadened EES’ portfolio and added know-how to the Sterilmed team.

  • VANGUARD AG is a manufacturer of reprocessed and complex medical devices and was established in 1998. The company is headquartered in Germany. It offers sterile goods to clinical labs and hospitals. It also provides integrated system solutions for cardiology laboratories and operation theaters. The products delivered are utilized in minimally invasive surgeries and intervention therapy. In May 2014, the rebranding of REMED GmbH as VANGUARD Spezialaufbereitung GmbH promoted the business of the organization. The product offering of the company entails RECONIC Special Reprocessing and Tailored Sterile Goods Supply.

  • Hygia Health Services, Inc. is a company based in the U.S. and was founded in 1999. It functions as a third-party reprocesser of semi-critical and non-critical single-use medical devices. The company is headquartered in Alabama in the United States. It involves buying, reprocessing, and selling medical devices that include blood pressure cuffs, stethoscopes, bed curtains, cervical collars, cerebral-somatic sensors, pulse oximeter probes & sensors, SCD/DVT sleeves, SCDs, ECG/EKG leads, pressure infusers, splints, roll belts, infuser bags, pneumatic tourniquets, bed alarms, masks, and others to hospitals & other healthcare institutions. It offers solutions for high-volume essential clinical commodities such as blood pressure cuffs, stethoscopes, ECG leads, infusor bags, masks, adult/infant sensor probes, blood flow leg sleeves, cerebral somatic sensors, all types of splints, bed alarms, tourniquets, bed alarms, and cubicle curtains.

  • Centurion Medical Products Corporation is a company based in the U.S. and was involved in 1961. The company manufactures, develops, and distributes medical products. The product offering products includes CVC bundles, catheter securements, dressings, dressing trays, fluid collection instruments, Eme bags, printables, IV securement kits, instrument trays, labels & tapes, mother-& baby-related products, procedure trays, physiological pressure measurement solutions, and soiled linen products. It also offers instruments, including pelvic exam trays, chest tube insertion trays, vaginal specula, wound care, umbilical cord clamp safety clippers, and debridement kits. In addition, it provides the PlastiVac system, which is a process for the collection &recycling of soiled linen liners in healthcare, offers contract packaging & sterilization services, and converts & supplies adhesive products.

  • SureTek Medical is a medical device company and is headquartered in Greenville, the U.S. The company offers resource management services to various surgical centers such as arthroscopic, ENT, laparoscopic, and hand surgical centers. It engaged in reprocessing, packaging & sterilizing single-use devices such as arthroscopic accessories, carpel tunnel blades, monopolar & bipolar laparoscopic instruments, electrosurgical electrodes, tourniquet cuffs, orthopedic burs, bits & blades, and foot & leg compression sleeves.

  • AGITO Medical A/S is a Canadian company and was founded in 2004. It delivers cost-effective and flexible healthcare solutions to its clientele base which includes clinics, distributors, and hospitals. It also offers used & refurbished medical imaging equipment, spare parts, rental solutions, and contract services to the healthcare industry. The company has a strong distribution network in the European region including France, Denmark, Spain, the Netherlands, and Germany.

  • Soma Technology, Inc. is a medical device company, established in 1992 and headquartered in the United States. It provides refurbished medical equipment to the healthcare industry. The company provides a platform for buying and selling medical equipment. The offerings portfolio of the company includes Medical Equipment Maintenance & JCAHO Inspection Services and Contract Services.

  • Siemens Healthcare is headquartered in Germany. It is a supplier of healthcare solutions such as diagnostics, imaging and therapy systems, clinical products, audiology solutions, and healthcare IT solutions. Siemens Healthcare Diagnostics segment deals with in vitro diagnostics, healthcare professionals in reference, hospitals, and physician’s office laboratories along with point-of-care settings with the crucial information for accurately diagnosing, treating, and monitoring patients. The company's portfolio of products and professional services ranges across areas such as laboratory diagnostics, clinical and administrative IT solutions, hearing instruments, and diagnostic imaging systems.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Reprocessed Medical Devices Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Reprocessed Medical Devices Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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