Global Single-Use Medical Devices Reprocessing Market - 2023-2030

Global Single-Use Medical Devices Reprocessing Market - 2023-2030

Global Single-Use Medical Devices Reprocessing Market reached US$ XX million in 2022 and is expected to reach US$ XX million by 2030, growing with a CAGR of XX % during the forecast period 2023-2030.

Single-use medical device reprocessing entails disinfecting, cleaning, sterilising, packaging, labelling, and storing a used or opened medical device package to be placed into service again. Reusing single-use medical devices has been happening since the late 1970s. Single-use medical devices can be reprocessed within healthcare organizations or by outside vendors, also known as third-party reprocessors, which emerged in the late 1990s.

Market Dynamics: Drivers and Restraints

Cost savings through reprocessing single-use devices

Reprocessing single-use medical devices has been witnessed as an increased cost-saving measure and has been a common practice in medical rooms and healthcare institutions for many years.

For instance, according to an article published in June 2020, titled ""Is cost-saving and sustainability putting patients at risk through reprocessed single-use medical devices"" the cost to reprocess a single-use device is approximately half that of purchasing a new device cost savings for healthcare facilities that reprocess SUDs are significant. Thus, there is a massive opportunity for cost-saving through reprocessing single-use medical devices, which is a significant driving factor for the growth of the studied market across the world.

Furthermore, the single-use medical devices reprocessing market is also driven by various other factors like the rise in demand for healthcare services, stringent regulatory procedures and others that help the market to grow during the forecast period.

Market Dynamics: Restraint

The global single-use medical devices reprocessing market is hampered by various factors like as cross-infection with reprocessed devices is the one of factor. For instance, in April 2021, The US FDA investigated reports of potential contamination issues in reprocessing single-use medical devices, including urological endoscopes, cystoscopes, ureteroscopes, and cystourethroscopy, due to concerns about material alteration and cross-infection. This has led to a decrease in the usage and adoption of these devices, affecting the overall market and patient safety.

Segment Analysis

The global single-use medical devices reprocessing market is segmented based on device type, application, end-user and region.

The Class II devices from the device type segment accounted for approximately 54.7% of the single-use medical devices reprocessing market share

The Class II devices from the Device Type segment accounted for approximately 54.7% and is expected to dominate during the forecast period. Sequential compression sleeves are the largest market share in class II devices, designed to increase venous blood flow in patients with deep vein thrombosis and pulmonary embolism. These reusable devices can withstand cleaning and sterilization, ensuring their quality and effectiveness. Hospitals are estimated to save nearly USD 300,000 by reprocessing compression sleeves.

Geographical Analysis

North America accounted for approximately 38.4% of the market share in 2022

North America is estimated to hold about 38.4% of the total market share throughout the forecast period owing to the factors increasing awareness, and rising incidence of liver failure in the region. Additionally, the United States accounted for the major share of the North American market in 2022 and is expected to grow due to the growing ageing population and increasing awareness regarding the available treatment options for the population.

For instance, in May 2023, Seal Rock Therapeutics, Inc., a clinical-stage company developing first-in-class and best-in-class kinase inhibitors, stated that it has entered into an out-licensing agreement with GENFIT for the development of an injectable formulation of SRT-015 for acute liver disease, including Acute-on-Chronic Liver Failure (ACLF).

COVID-19 Impact Analysis

COVID-19 caused significant global health concerns, impacting communities, industries, businesses, and lives. It impacted the single-use medical device reprocessing market due to high SARS-CoV-2 virus infectivity. Additionally, postponements of surgical procedures reduced the use of single-use surgical instruments like scissors, forceps, pliers, needle holders, and curettes.

Market Segmentation

By Device Type
• Class II Devices
Pulse Oximeter Sensors
Sequential Compression Sleeves
Catheters and Guidewires
Others
• Class I Devices
Laparoscopic Graspers
Scalpels
Tourniquet Cuffs
Other

By Application
• General Surgery
• Cardiology
• Orthopedics
• Gastroenterology
• Others

By End User
• Hospitals
• Ambulatory Surgical Centers
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the market include Stryker Corporation, SureTek Medical, Medline Industries Inc., NEScientific Inc, Innovative Health, Renu Medical (Arjo), Sterimedix, Teleflex Incorporated, Cardinal Health(sustainable technologies), Vanguard AG and among others.

Key Developments

 In February 2023, Northeast Scientific Inc. received FDA 510(k) clearance for reprocessing the Philips IVUS Eagle Eye Platinum RX Digital catheter. With the launch of this product, considerable savings to Office-Based Labs and Hospital Cath Labs across the United States is likely to be achieved.

 In June 2022, The Association of Medical Device Reprocessors launched 'Global Regulatory Standards for 'Single-Use' Medical Device Reprocessing and Remanufacturing,' the first roadmap to help Notified Bodies, Ministries of Health, and regulatory authorities of medical devices to unlock these benefits for hospitals and health systems worldwide.

Why Purchase the Report?
• To visualize the global single-use medical devices reprocessing market segmentation based on Device Type, application, end user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of single-use medical devices reprocessing market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global single-use medical devices reprocessing market report would provide approximately 69 tables, 70 figures and 183 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies