The medical device reprocessing market in the United States achieved a value of US$ 323 million in 2020. To comply with U.S. Food and Drug Administration (FDA) regulations, third-party reprocessors must adhere to the same standards applied to single-use devices as originally manufactured.
The worldwide market for reprocessing medical devices reached a valuation of US$ 1.4 billion in 2020. It is projected to experience rapid growth with a compound annual growth rate (CAGR) of 16%, aiming to surpass US$ 3 billion by the year 2031. Furthermore, there is a foreseen surge in demand for reprocessing support and services, which is anticipated to exhibit a CAGR of 15% from 2021 to 2031.
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Prominent Key players of the Medical Device Reprocessing market survey report:
- Stryker Corporation
- Johnson & Johnson
- Vanguard AG
- Medline ReNewal
- Medtronic plc
- SteriPro
- Pioneer Medical Devices AG
- Vascular Solutions
- HYGIA Health Services
- ReNu Medical
- SureTek Medical
Competitive Landscape
Leading companies are implementing various strategic approaches, including investments in research and development, new market ventures, the expansion of production facilities, product launches, securing product approvals, and acquiring patents.
In May 2019, Medtronic unveiled the Select Site C304-HIS deflectable catheter system, gaining approval from the U.S. FDA. This innovative system is utilized in His-bundle pacing (HBP) procedures, bolstering the company’s revenue and reinforcing its industry position.
In April 2019, 3M expanded its array of advanced adhesives for medical devices with the introduction of the 3M extended wear medical transfer adhesive, 4075, thereby broadening its product portfolio.
In September 2018, Vanguard strengthened its medical device reprocessing services by acquiring Pioneer Medical Devices AG, an acquisition that enhanced its global product portfolio.
Key Segments Covered in Medical Device Reprocessing Industry Research
- By Product & Service
- Reprocessing Support & Services
- Reprocessing Medical Devices
- By Device
- Catheters
- Laparoscopy Instruments
- Biopsy Instruments
- Endoscopy Instruments
- Cables, Columns, Curves and Cutters
- By Application
- Cardiology
- Gastroenterology, Urology, and Gynaecology
- Arthroscopy and Orthopaedic Surgery
- General Surgery and Anaesthesia
The insights for each vendor consists of:
- Company profile
- SWOT analysis
- Main market information
- Market share
- Revenue, pricing and gross margin
What insights does the Medical Device Reprocessing Market report provide to the readers?
- Medical Device Reprocessing fragmentation on the basis of product type, end use, and region.
- Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
- Collaborations, R&D projects, acquisitions, and product launches of each Medical Device Reprocessing player.
- Various regulations imposed by the governments on the consumption of Medical Device Reprocessing in detail.
- Impact of modern technologies, such as big data & analytics, artificial intelligence, and social media platforms on the global Medical Device Reprocessing.
The report covers following Medical Device Reprocessing Market insights and assessment that are helpful for all participants involved in the Medical Device Reprocessing market:
- Data on recently introduced regulations and their impact on key industries and on demand in Medical Device Reprocessing
- Latest industry Analysis on Medical Device Reprocessing Market, with key analysis of market drivers, trends, and influencing factors
- Key trends Analysis of Medical Device Reprocessing Market and changing consumer preferences in major industries.
- Changing Medical Device Reprocessing demand and consumption of diverse products
- Major trends underlining funding by key investors in numerous countries
- New investment opportunities in diverse technology and product or service types
- Comprehensive data and Competitive analysis of Medical Device Reprocessing major players
- Medical Device Reprocessing Market sales in US will grow at a steady pace, driven by growing consumer confidence and economic recovery
- Medical Device Reprocessing demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth
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Questionnaire answered in the Medical Device Reprocessing Market report include:
- How the market for Medical Device Reprocessing has grown?
- What is the present and future outlook of the global Medical Device Reprocessing on the basis of region?
- What are the challenges and opportunities for the Medical Device Reprocessing?
- Why the consumption of Medical Device Reprocessing highest in region?
- In which year segment is expected to overtake segment?
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