The Medical Device Reprocessing Market is predicted to rise in response to the rising demand for low cost reprocessed medical devices, reduction in medical waste, and rising number of surgical procedures and other factors.
JERSEY CITY, NJ, May 4, 2022 /PRNewswire/ — Verified Market Research recently published a report, “Medical Device Reprocessing MarketBy Device Type (Catheters, Laparoscopy Instruments, Biopsy Instruments), By Applications (Cardiology, Gastroenterology, Urology and Gynecology), and By Geography. According to Verified Market Research, the Global Medical Device Reprocessing Market size was valued at USD 1.23 Billion in 2020 and is projected to reach USD 4.01 Billion by 2028, growing at a CAGR of 15.86% from 2021 to 2028.
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Browse in-depth TOC on “Medical Device Reprocessing Market”
202 – Pages
126 – Tables
37 – Figures
Global Medical Device Reprocessing Market Overview
The primary factor driving the market growth is increasing involvement of medical device reprocessing workflow, trending bio banking scenario, and rise in outsourcing medical instrument reprocessing. The medical device assists in diagnosing, treating, and enhancing the patients’ health. Reprocessing couples with the treatment of materials to make them reusable. Reprocessing is considered cleaning, disinfecting, sterilizing, reconditioning, repairing, and refurbishing medical devices. Demand for the Medical Device Reprocessing Market is increasing in both developed and developing countries, with the increasing development of refurbished equipment and services and government initiatives to reduce the use of medical devices. The Medical Device Reprocessing Market is growing due to the need to save money as the crisis unfolds and the adaptation increases.
There is an increase in the demand for medical supplies to take care of the infected population. Respiratory support devices like atomizers, life support machines, oxygen generators, and monitors are major medical devices in primary clinical treatment. Also, COVID-19 has increased the demand for medical supplies like personal protective equipment, including masks, gloves, and protective eyeglasses. The need for medical supplies has increased significantly among healthcare professionals and the civil population for preventive measures because of increasing COVID-19 cases across the globe. Manufacturers of these products can capitalize on this increased demand for medical supplies to ensure an adequate and continuous supply of personal protective equipment in the market. Thus, COVID 19 is expected to affect the Global Medical Device Reprocessing Market significantly.
- On May 2019, Medtronic announced the FDA approval and marketing of the Select Site C304-HIS deflectable catheter system. This system is employed in His-bundle pacing processes. This strategic path increased revenue and boosted the company’s standing in the industry.
The major players in the market are Stryker Corporation, Johnson & Johnson, Vanguard AG, Medline ReNewal, Medtronic plc, SteriPro Inc., Pioneer Medical Devices AG, Vascular Solutions, Inc., HYGIA Health Services, Inc.
Verified Market Research has segmented the Global Medical Device Reprocessing Market on the basis of Device Type, Application, and Geography.
- Medical Device Reprocessing Market, By Device Type
- Laparoscopy Instruments
- Biopsy Instruments
- Endoscopy Instruments
- Curves and Cutters
- Medical Device Reprocessing Market, By Application
- Urology and Gynecology
- Arthroscopy and Orthopedic Surgery
- General Surgery
- Medical Device Reprocessing Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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Top 7 Medical Device Companies, investing in quality care, at international level
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