Albany, NY -- (SBWire) -- 01/04/2016 --Reprocessing of medical devices refers to the process of inspecting, cleaning, testing, sterilizing and packaging of used and expired medical devices, such that the devices remain effective and safe for suitable clinical application. This study provides the market analysis for various classes and sub-classes of medical devices used for reprocessing. The stakeholders of this report include original equipment manufacturing companies and companies involved in medical device reprocessing and distribution of reprocessed devices as well as new entrants.
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The market overview section of the report analyzes the market dynamics and trends such as drivers, restraints and opportunities that would affect the current and future scenario of the reprocessed medical devices market. Porter's five forces analysis is included in this study to provide thorough analysis about the competitive status of the current reprocessing industry, and market attractiveness analysis has been added to describe the market outlook in different geographies. Event impact analysis is provided in this report for brief understanding of the important events that have taken place in the past and are planned for the future, which might have a major impact on industry growth. Value chain analysis of the market is also discussed in this section to recognize value-creating activities from a number of processes, which would provide an overall understanding of the science of medical device reprocessing.
This market study on reprocessed medical devices has been classified based on various types of devices, which are generally used for reprocessing such as cardiovascular devices, general surgery devices, laparoscopic devices, orthopedic devices and gastroenterology devices. Furthermore, for estimating the overall reprocessed medical devices market, each of the major classes mentioned above have been categorized into several sub-classes of reprocessable medical devices. Cardiovascular devices have been segmented into blood pressure cuffs/tourniquet cuffs, diagnostic electrophysiology catheters, electrophysiology cables, cardiac stabilization and positioning devices. General surgery devices have been segmented into balloon inflation devices and infusion pressure bags. Likewise, laparoscopic devices have been segmented into endoscopic trocars and components as well as harmonic scalpel. Similarly, external fixation devices have been considered for estimating the market of reprocessed orthopedic devices and biopsy forceps have been considered under gastroenterology devices. Market revenue for reprocessed medical devices as well as total devices has been provided in the report for the period 2012 to 2020 in terms of USD million, along with CAGR for the forecast period 2014 to 2020, considering 2013 as the base year. In addition, volume data for each of these devices is provided in the report from 2012 to 2020, with a forecast period from 2014 to 2020.
From the geographical perspective, the global reprocessed medical devices market has been segmented into four major regions: North America, Europe, Asia-Pacific and Rest of the World (RoW). The market revenue of reprocessed medical devices for each geographical market for 2012 and 2020 along with forecast from 2014 to 2020 in respective regions in terms of USD million and value %, respectively has been explained in the geography section of the report.
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The report provides company profiles of major players operating in the reprocessed medical devices market. Additionally, detailed market share analysis of the leading players has been provided which includes companies such as Centurion Medical Products Corporation, Hygia Health Services, Inc., Medline ReNewal, MidWest Reprocessing Center, ReNu Medical, Inc., SterilMed, Inc., Stryker Sustainability Solutions, Inc., SureTek Medical and VANGUARD AG. The elaborated market share analysis of the companies involved in the market would help new business participants to identify product portfolio of the established companies and understand the business strategies followed by major companies for sustaining in the market.
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North America Is the Largest Market for Reprocessed Medical Devices
Primary factors driving the growth of the reprocessed medical devices market are high cost savings from reprocessed devices and growing pressure to reduce medical waste combined with increasing adoption rate of these devices.