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.
The medical device reprocessing market is a rapidly growing industry that is revolutionizing the way healthcare organizations handle their medical device inventory. Medical device reprocessing is the process of taking a used medical device and reconditioning it to a safe, functional state for further use. This technology allows hospitals and other healthcare organizations to reduce costs by reusing medical devices that would otherwise be discarded.
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The market for medical device reprocessing is highly competitive, with a number of large companies offering high-quality products and services. Key players in the market include Stryker, Medline, and ASG. These companies offer a wide range of products and services, including device cleaning and inspection, labeling, sterilization, and packaging. They also offer a variety of services such as training, consulting, and technical support.
The medical device reprocessing market is expected to continue to grow in the coming years, as healthcare organizations look for ways to reduce costs and improve patient safety. The increasing demand for cost-effective healthcare solutions, as well as the rise in the elderly population, will continue to drive the growth of this market.
Key Market Players
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).
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.
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The study categorizes the Medical Device Reprocessing Market based on type, device category, application, and regional level.
By Type
- Reprocessing Support & Services
- Reprocessed medical devices
By Device Category
- Critical Devices
- Semi- Critical Devices
- Non- Critical Devices
By Application
- Cardiology
- Gastroenterology
- Gynecology
- Arthroscopy & Orthopedic Surgery
- General Surgery and Anesthesia
- Other Applications (Urology, non-invasive surgeries, patient monitoring)
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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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