North America Single Use Medical Device Reprocessing Market

North America Single-Use Medical Device Reprocessing Market Size

The size of the Single-Use Medical Device Reprocessing Market in North America is estimated to grow at a promising CAGR from 2023 to 2032.

Preconceptions about the quality of retired SUD coupled with reduced profits for manufacturers and hospitals' ability to establish their own SUD reprocessing facilities are hampering the growth of this market. The low price of reprocessed medical devices helps reduce the total cost of treatment and is a crucial factor in the development of the North American medical device reprocessing market. Besides, the lack of waste disposal facilities in the healthcare industry and government initiatives to raise awareness of medical device reprocessing are other significant factors expected to drive the growth of the medical device reprocessing market medical facilities from North America during the forecast period. Rising healthcare costs and growing penetration of reprocessed medical devices in emerging economies support the North American medical device reprocessing market.

Due to its economic and sustainable nature, single-use medical devices' reprocessing is increasingly recognized as a promising prospect. However, strict government regulations on medical device reprocessing are crucial factors limiting the growth of the North American medical device reprocessing market. Moreover, the risk of spreading infection is another factor hampering the North American medical device reprocessing market during the forecast period.

This market research report on the North America Single-Use Medical Device Reprocessing Market segmented and sub-segmented into the following categories

SEGMENTAL ANALYSIS

By Class I Devices Insights

Sequential Compression Sleeves, Tourniquet Cuffs, Pulse Oximeter Sensors

By Class II Devices Insights

Microdebriders, Cautery Electrodes, Laparoscopic Graspers, Scissors, Forceps, Scalpels, Orthopedic Blades, Drill Bits, External Fixation Clamps, Electrophysiological Cardiac Catheters

By End-User Insights

Hospitals

Country Level Analysis

The United States, Canada, and the Rest of North America.

The increased demand for medical services and healthcare facilities in North America is estimated to significantly impact the growth of the North American single-use medical device reprocessing market in the region between 2023 and 2032. Another driver of growth in this industry is rising population spending in countries like the United States and Canada. Per capita purchasing power parity (PPP) health expenditure in the United States has increased significantly from $ 9,246.97 in 2020 to $ 10,587.74 in 2022, while it increased from $ 4,861.36 in 2020 to $ 5,137.56 in 2022 in Canada, according to the World Health Organization. Spending on personal health care in the United States, as established by the Centers for Disease Control and Prevention, is expected to increase by an annual percentage change of 5.6% during the period 2023-2032 with an expenditure total of USD 2,104 billion in 2022, which rose to USD 3,014 billion in 2032. It can be attributed to the high demand for new medical and health technologies in North America.

KEY MARKET PLAYERS AND COMPETITIVE LANDSCAPE

Companies leading the North America Single-Use Medical Device Reprocessing Market profiled in this report are Hygia, Centurion Medical Products Corporation, Medline Renewal, Midwest Reprocessing Center, NEscientific, ReNu Medical, SterilMed, Stryker Sustainability Solutions, Inc., SureTek Medical, and Vanguard AG.