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The global single use medical device reprocessing market involves the cleaning, disinfection, inspection, sterilization, packaging and labelling of reused single-use devices. Single-use devices that are safely reprocessed include balloon catheters, biopsy forceps and needles, trocars, and other specialized surgical instruments. Reprocessing single-use devices helps reduce medical waste and lowers overall healthcare costs. These reprocessed devices are usually sterilized using gamma radiation or ethylene oxide sterilization methods before being redistributed to hospitals and surgical centers.
The global single use medical device reprocessing Market is estimated to be valued at US$ 645.43 Mn in 2023 and is expected to exhibit a CAGR of 15.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing focus on cost containment in the healthcare industry is a key driver for the single use medical device reprocessing market. Reprocessing single-use devices helps lower procedure costs for hospitals by an estimated 30-65% compared to original device costs. This is appealing to healthcare providers looking to reduce expenditure amid rising healthcare costs. Furthermore, reprocessing helps reduce medical waste generated from disposal of single-use devices. With increasing emphasis on sustainable waste management and recycling in the medical industry, reprocessing provides an environmentally-friendly option compared to direct disposal. These factors, along with those mentioned in the heading around growing focus on healthcare cost savings, are expected to boost the demand for single-use medical device reprocessing over the forecast period.
Segment Analysis
The global single use medical device reprocessing market is dominated by the contamination control sub-segment. Single use medical devices that come into contact with blood and bodily fluids carry a high risk of contamination if reused without proper cleaning and disinfection. The contamination control process helps eliminate all microorganisms, bodily secretions and excretions from the device through rigorous chemical cleaning and verification protocols. This makes contamination control the most crucial step in single use device reprocessing to ensure patient safety.
PEST Analysis
Political: Governments across the world are promoting the reuse of medical devices to reduce medical waste and healthcare costs. Some countries have even implemented regulations mandating the sterilization and reuse of approved single-use devices. This favorable regulatory environment is boosting market growth.
Economic: The reuse of processed single-use devices provides significant cost savings compared to purchasing new devices. This is driving greater adoption among cash-strapped hospitals seeking to reduce expenses. Rising healthcare costs are also prompting governments to support inexpensive reprocessing programs.
Social: Growing awareness about environmental protection and sustainable healthcare is positively impacting the market. The reuse of resources reduces medical waste generated from landfill disposal of used single-use devices. This social benefit boosts acceptability.
Technological: Advanced sterilization technologies like hydrogen peroxide gas plasma provide reliable sterilization of heat-sensitive devices. Automated digital monitoring systems facilitate traceability and quality control in reprocessing. New technologies enhance safety and efficiency.
Key Takeaways
The global single use medical device reprocessing market is expected to witness high growth.
Regional analysis: The market in North America dominates currently due to rising procedural volumes and a favorable regulatory environment supporting reprocessing programs in the US. However, the Asian market is expected to grow the fastest due to improving healthcare infrastructure, lowering costs to expand access and rise in medical tourism across major Asian hubs like India, Singapore and Thailand.
Key players operating in the single use medical device reprocessing market are Stryker Corporation, Medline ReNewal, Centurion Medical Products Corporation, Midwest Reprocessing Center, SterilMed Inc., Vanguard AG and Hygia Health Services Inc, among others. Stryker Corporation stands out as the leading player with its Recertified portfolio of reprocessed devices and strong global presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
