Medical Device Reprocessing Market Size Detailed Report with Industry Chain Analysis | Research by MarketsandMarkets

Posted by Johnny on March 24th, 2023

 Medical Device Reprocessing Market is projected to grow from USD 2.0 billion in 2022 to USD 3.9 billion by 2027, at a CAGR of 13.7% from 2022 to 2027 according to a new report by MarketsandMarkets™. Growth in this market is mainly driven by the rising need to reduce healthcare costs, and the increasing adoption of strategies to reduce medical waste.

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The reprocessed support and services segment accounted for the largest share in 2021

Based on type, the medical device reprocessing market is segmented into reprocessing support & services and reprocessed medical devices. In 2021, the reprocessed support & services segment accounted for the largest share of this market. The rising number of surgical procedures associated with growing prevalence of chronic diseases is expected to increase the adoption of third party reprocessing services by healthcare facilities to reduce in-house reprocessing costs.

The critical devices segment is expected to have the highest CAGR during the forecast period

Based on the device type, the medical device reprocessing market is segmented into critical devices, semi-critical devices, and non-critical devices. Critical devices segment is expected to register the highest growth during the forecast period. The growth in this market is mainly driven by the increasing cardiac and electrophysiology (EP) procedures, leading to increased utilization of reprocessed electrophysiology, diagnostic, and cardiology catheters.

The cardiology segment is expected to register the highest growth during the forecast period

Based on application, the medical device reprocessing market is segmented into cardiology, gastroenterology, gynecology, arthroscopy and orthopedic surgery, general surgery & anesthesia, and other applications (urology, non-invasive surgeries, and patient monitoring). The cardiology segment is expected to register the highest growth during the forecast period. This is mainly driven by the favorable approvals from FDA for reprocessing catheters due to rising cardiovascular diagnostic and surgical procedures across healthcare facilities.

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North America holds the largest share of the medical device reprocessing market

North America accounted for the largest share of the pharmacy automation market in 2021. Factors such as favorable US FDA approvals on reprocessing medical devices, growth in the healthcare sector, and the presence of top medical device reprocessing service providers in the US are expected to contribute to the growth of the market in North America.

The prominent players in the medical device reprocessing market are Stryker Corporation (US), Johnson & Johnson (US), Vanguard AG (Germany), Medtronic PLC (Ireland), Steris Healthcare (US), Medline ReNewal (US), Innovative Health (US), Arjo Group (ReNu Medical, Inc.) (Sweden), SteriPro Canada, INC. (Canada), Northeast Scientific, INC. (US), Cardinal Health (Sustainable Technologies) (US), and  SureTek Medical(US).

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Recent Developments

• Innovative Health, LLC has received clearance to reprocess the Philips Eagle Eye Platinum digital IVUS (intravascular ultrasound) catheter. This clearance effectively marks the company’s entry into the cath lab space, thereby expanding the company’s medical device reprocessing market reach in cardiology applications.
• Medline ReNewal opened a new distribution center in Southaven, Mississippi. The facility serves major hospitals, nursing homes, and military facilities in the region. The company invested in expanding its storage and distribution capacity in Mississippi to meet the product needs of its healthcare customers. Over USD 350.0 million in annual orders are expected to be handled from the Southaven facility.
• a group of private equity giants acquired Medline industries for more than USD 30 billion. However, even after the transaction, Medline remained a privately-held company.
• Innovative Health, LLC announced the opening of its new Research & Innovation Center, which will focus on expanding the power of reprocessing into new therapeutic areas and device technologies. With a focus on technology and innovation, the company aims to enhance its current medical device reprocessing technology and expand its service portfolio in various therapeutic application areas.
• Northeast Scientific Inc. received the FDA clearance for reprocessing the .014 Digital IVUS catheter. With this clearance, the company was able to add the 0.14 Digital IVUS catheter to its existing portfolio of reprocessed medical devices.

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