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Global Single-Use Medical Device Reprocessing Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Class I Devices, Class II Devices, End-User & Region – Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 2378
Pages: 175
Formats: report pdf report excel report power bi report ppt

Single-Use Medical Device Reprocessing Market Size (2022 to 2027)

As per our report, the size of the global single-use medical device reprocessing market is expected to grow at a promising CAGR during the forecast period.

A medical device can be defined as an instrument, implant, or apparatus used to diagnose or treat a medical condition. Medical Devices can be reusable or single-use devices (SUD). Some single-use devices can be used multiple times with proper reprocessing.

MARKET DRIVERS:

Y-O-Y growth in demand for cost-effective and eco-friendly devices in the medical sector is majorly driving growth for the single-use medical device reprocessing market.

The greater use of low-cost reprocessed medical equipment instead of new devices, increased attempts to reduce regulated medical waste (RMW), and the rising number of surgical procedures linked with the rising incidence of chronic illnesses are all driving this industry forward. One of the main reasons driving market expansion is the growing clinical urgency to reduce the creation of medical waste in healthcare settings and hospitals. In addition, the increase in FDA-approved critical and non-critical cardiovascular reprocessing devices, which account for a major percentage of single-use medical devices used in healthcare, is also projected to boost growth. Stryker is the main provider of remanufactured compression sleeve devices, and the company has received FDA approval for its product line. The company's remanufactured compression devices are designed to aid in the prevention of deep vein thrombosis, the reduction of post-operative discomfort and swelling, the enhancement of blood circulation, and the speeding up of wound healing.

Single-use reprocessing of medical equipment is currently being recognized as a potential opportunity due to its cost-effectiveness and sustainability. It leads to financial savings as well as environmental sustainability. SUD reprocessing is a popular healthcare supply chain strategy for reducing costs and maximizing resources. With advances in technology, firms have built more complicated and complex devices employing appropriate materials to stand up to the steam sterilization process. As a result, reprocessing single-use devices have proven important for reducing future healthcare costs. In addition, green medical device reprocessing causes the least amount of environmental damage and provides a future opportunity for the single-use medical device reprocessing industry.

The rise in the knowledge over the reprocessing of single-use devices effectively, which is beneficial, propels the market's demand. Growing focus on reducing greenhouse effects is also one of the factors accelerating the growth of the market. This procedure will reduce the wastage in the medical sector, fuelling the demand for the single-use medical device reprocessing market. Furthermore, the rise in the private and public organizations' support through investments is to surge growth opportunities for the market. Increasing the production of reprocessed devices will eventually increase the organizations' profits, and this attribute is likely to outshine the demand of the single-use medical devices reprocessing market. Also, the rise in the construction activities of healthcare centers across the world is spurring the market's demand.

MARKET RESTRAINTS:

The danger of surgical site infection transmission linked with remanufactured devices may hinder market expansion to some extent. All players' major problems are the quality of healthcare facilities, device material quality, and single-use medical device restrictions, all of which restrict the single-use medical device market's growth.

Chemical residues from poor cleaning might cause toxicity in the patient. Aside from these risks, physical characteristics may change after reprocessing, exposing patients to risk and reducing the learning curve for healthcare providers. As a result, the growth of the reprocessing sector for single-use medical equipment is challenged. A scarcity of single-use devices Reprocessed facilities. Only a small number of single-use devices can be reprocessed, making reuse a key challenge for the worldwide single-use medical device industry to expand.

Impact of COVID-19 on the global Single-Use Medical Device Reprocessing Market:

In early 2020, Covid-19 diseases spread worldwide, infecting millions of people and major countries around the world-imposed bans and work stoppage orders. In addition, coronavirus disease caused by the severe acute respiratory syndrome coronavirus-2 (SARS-CoV-2) has spread worldwide. The transmissible nature of COVID-19 has resulted in a significant rise in the global medical device industry, including the single-use medical device reprocessing market, which several companies around the world use. Single-use medical device reprocessing includes disinfecting, washing, remanufacturing, monitoring, packaging, labeling, and sterilizing used medical devices until reintroducing them into operation. Many types of research are also being performed on the different aspects of currently available antiviral vaccines or drugs. Due to the COVID-19 epidemic, the global single-use medical device reprocessing industry has turned around on both the demand and supply sides. Single-use medical device reprocessing is gaining popularity as a way to minimize hospital waste and save money. 

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Covered

By Class I Devices, Class II Devices, End-User, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, Asia-Pacific, Latin America, Middle East & Africa

 

This research report on the global single-use medical device reprocessing market has been segmented and sub-segmented based on the Class I devices, Class II devices, end-user, and region.

Single-Use Medical Device Reprocessing Market - By Class I Devices:

  • Sequential Compression Sleeves
  • Tourniquet Cuffs
  • Pulse Oximeter Sensors

Based on Class I Devices, the Sequential compression sleeves device type leads the highest shares of the market. Stringent rules and regulations by the government in concern towards environmental safety are escalating the market's growth. In addition, a rise in the flow of patients with several health disorders to the hospitals boosts the market demand.

Single-Use Medical Device Reprocessing Market - By Class II Devices:

  • Microdebriders
  • Cautery Electrodes
  • Laparoscopic Graspers
  • Scissors
  • Forceps
  • Scalpels
  • Orthopedic blades
  • Drill Bits
  • External fixation clamps
  • Electrophysiological Cardiac Catheters

Based on Class II Devices, increasing surgical operations with these devices is prompting the market's demand extensively. Growing expenditure on healthcare is also one more factor leveraging the growth of the market.

Single-Use Medical Device Reprocessing Market - By End User:

  • Hospitals

In-house reprocessing units and a growing number of partnerships with third-party reprocesses drive the market growth globally. According to PubMed, National Institutes of Health, around 45% of the hospitals in 2007 have partnerships with third-party reprocessing organizations and reached 70% in 2008 in the United States.

Single-Use Medical Device Reprocessing Market - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

Geographically, North America accounts for the leading dominant shares of the global single-use medical device reprocessing market by adopting the latest technological development and innovative products. North America led the market in 2020, which may be attributed to the region's well-established healthcare industry, rising chronic disease prevalence, and rising surgical procedure volume. In addition, the industry is fuelled by a growing global acceptance of reprocessed single-use devices, considerable cost savings from the usage of reprocessed SUD, and a low barrier to entry due to the FDA's regulation of reprocessed medical devices.

Europe has the second largest market share due to a rise in demand for single-use medical devices and increased healthcare awareness in the region. The United Kingdom dominates the European single-use medical device reprocessing sector due to its environmental sustainability. With improved regulatory rules in place in Germany, a higher grade of reprocessed devices is available on the market, boosting market share compared to other countries in the region over the forecast period. Chronic illness prevalence is increasing, as is the elderly population, and healthcare spending is increasing; the European region is expected to have the highest CAGR during the forecast period.

In most of Asia, the reuse of single-use medical devices is prevalent, particularly for injection needles, and the market for single-use medical device reprocessing is increasing.

KEY MARKET PARTICIPANTS:

Companies that play a dominating role in the global 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.

RECENT MARKET HAPPENINGS:

  • On March 28, 2018, NEScientifc, Inc., famous for its recycling proficiency in developing medical devices, has gained 510 (K) clearance from the FDA for manufacturing RF Stylet by Covidien.
  • On June 23, 2020, NorthEast Scientific Inc. circulated as it has accepted the FDA permission for recycling the .014Digital IVUS catheter. The NEscientifc is a Connecticut-based company. 

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