New York, NY -- (SBWIRE) -- 03/08/2021 -- According to the current analysis of Reports and Data, the global reprocessed medical devices market was valued at USD 0.84 Billion in 2018 and is expected to reach USD 2.91 Billion by year 2026, at a CAGR of 16.4 %. The market is one of the fast growing markets across the world. There has been a tremendous rise in healthcare technology in the past few years to provide effective and affordable equipment. The medical device reprocessing includes cleaning, disinfection, inspection, sterilization, and repackaging of used ones so that they can be reused for diagnosis and treatment of multiple patients. These healthcare equipment must be reprocessed using validated methods for them to be used again. Efficacy, life cycle, prospective danger to patient and parts used to make the equipment are some factors taken into consideration. With rising healthcare costs and elevated prices of these equipment, demand for reprocessed medical devices over the forecast period is anticipated to experience significant development.

Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market. The pandemic has affected every segment of the market, along with bringing disruption in the supply chain, demands & trends, and financial difficulties. The report covers the initial and future assessment of the COVID-19 impact on the market.

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Further key findings from the report suggest

The target market is growing at a CAGR of 17% in Europe followed by North America and Asia Pacific, with 5 % and 6.3% CAGR, respectively. Increased adoption of reprocessed medical devices is expected to drive the market growth in these regions.

Unceasing increase in medicinal wastes along with lack of support for waste disposal in healthcare industry tends to raise the burden on environment, which further leads to deterioration of environmental conditions ultimately leading in environmental hazards and further raise the health concerns.

In 2016, dominance in the market was seen, mainly due to its well-developed healthcare industry, rising incidence of chronic diseases, and increasing volume of surgical procedures.

The target market is expected to witness robust progress over the forecast timeframe. Rising number of cardiac surgeries coupled with numerous blood pressure monitoring applications are foremost factors being the main reason of industry growth.

Laparoscopy segment is accounted for the second largest share of the industry on the basis of products. Increasing demand for minimally invasive procedures is anticipated to offer opportunities for more reprocessing approvals pertaining to laparoscopy and thus contributing to the growth of this segment.

Increase in number of cardiovascular surgeries & treatments are bolstering the need for cost-efficient alternatives thereby driving the demand for the segment.

Risk of acquiring infection associated with the reprocessed medicinal devices is relatively lower as compared to reusable medicinal devices

Based on the regions, the report covers the following regions:

North America (U.S.A., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Competitive Terrain:

The global Reprocessed Medical Devices market has a consolidated presence of a large number of companies that have been performing consistently to achieve optimum market growth. The report comprehensively discusses these companies' current market standing, past performances, demand & supply graphs, sales network, production & consumption patterns, and distribution channels. The report thus points out the effective business approaches undertaken by these market players to build on their market footprint.

The leading companies operating across the global Reprocessed Medical Devices market are listed below:

Ethicon Inc. (Johnson & Johnson Services, Inc.), GE Healthcare, Innovative Health, Medline Industries, Inc., Medtronic, ReNu Medical, Soma Technolog, Inc., Stryker, SureTek Medical, Teleflex Incorporated.

Product Type (Revenue, USD Million; 2016–2026)

Cardiovascular medical devices

Gastroenterology and urology

Orthopedic

Laparoscopic

General surgery equipment

Type of Medical Device (Revenue, USD Million; 2016–2026)

Catheters

Laparoscopy Instruments

Cables, Columns, Curves and Cutters

Biopsy Instruments

Endoscopy Instruments

Others

End Use (Revenue, USD Million; 2016–2026)

Ambulatory Surgical centers

Hospital

Clinic

Others

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Radical Features of the Reprocessed Medical Devices Market Report:

Valuable insights into the Reprocessed Medical Devices market to impart an in-depth understanding of the business verticle

An 8-year forecast estimation along with an analysis of key elements of the market

Technological advancements, regulatory framework, and recent developments covered in the report

Growth analysis and projections until 2027

Statistical analysis of the key players operating in the Reprocessed Medical Devices industry

Table Of Contents:

Chapter 1. Market Synopsis

Chapter 2. Executive Summary

Chapter 3. Indicative Metrics

Chapter 4. Reprocessed Medical Devices Market Segmentation & Impact Analysis

Chapter 5. Reprocessed Medical Devices Market, By Type Insights & Trends

Chapter 6. Reprocessed Medical Devices Market, By Application Insights & Trends

Chapter 7. Reprocessed Medical Devices Market, By End Use Insights & Trends

Chapter 8. Reprocessed Medical Devices Market Regional Outlook

Chapter 9. Competitive Landscape

Chapter 10. Company Profiles

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