Medical Device Reprocessing Market Assessment, By Product and Service [Reprocessing Support and Services, Reprocessed Medical Device], By Device Type [Class I Devices, Class II Devices, Class III Devices], By Application [Cardiology, Gynecology, Gastroent

Medical Device Reprocessing Market Assessment, By Product and Service [Reprocessing Support and Services, Reprocessed Medical Device], By Device Type [Class I Devices, Class II Devices, Class III Devices], By Application [Cardiology, Gynecology, Gastroenterology, General Surgery, Orthopedics, Anesthesia, Others], By End-user [Hospitals, Ambulatory Surgical Centers, Others], By Region, Opportunities and Forecast, 2017-2031F

Global medical device reprocessing market is projected to witness a CAGR of 16.48% during the forecast period 2024-2031, growing from USD 3.09 billion in 2023 to USD 10.48 billion in 2031. Reprocessing medical devices is the process of sanitizing, sterilizing, cleaning, and restoring medical devices so they can be used in healthcare settings safely and effectively again. Healthcare institutions may prolong the life of medical devices by reprocessing, which also lowers expenses, minimises waste, and supports environmental sustainability. Medical device cleaning, sterilisation, and refurbishing techniques have become more effective and efficient because of advancements in reprocessing technologies. The safety and quality of reprocessed devices have increased due to automation, robotics, and cutting-edge sterilization processes, which have spurred industry expansion. Reprocessed medical devices are becoming more and more accepted by healthcare organisations and providers as the advantages of this practice become more widely acknowledged in the industry.

As more healthcare facilities include recycled equipment into their procurement procedures, this increasing acceptance fuels market expansion. The industry for medical device reprocessing is consolidating as bigger businesses buy out smaller competitors to increase their geographic reach and service offerings. This consolidation propels industry expansion by facilitating access to reprocessing services and fostering economies of scale. Reprocessing medical devices is one cost-saving strategy that healthcare institutions are looking at because of the growing expense of healthcare services and the financial constraints that face them. Reprocessing enables medical facilities to make the best use of their resources and direct funding towards other patient care areas.

For instance, a private healthcare firm, Medline Industries, LP, stated in November 2023 that it has expanded the size of its Redmond, Washington, plant, which reprocesses medical products that could be disposed of in landfills. There was a 52,000 square foot increase in the property. Through its medical device reprocessing initiative called, Renewal, the company has reprocessed about 15 million products and, since 2014, has prevented over 10 million pounds of waste from ending up in landfills.

Technological Advancements Leading to Market Expansion

Automation and robotics have transformed medical device reprocessing because they increase efficiency, decrease human error, and streamline workflows. Higher-quality results can be achieved by using automated systems to perform repetitive operations like cleaning, disinfection, and sterilization with consistency and accuracy. Modern sterilization methods guarantee that medical equipment is thoroughly cleaned and sterilized. These approaches could include low-temperature sterilization techniques that work well for heat-sensitive devices, like vaporized hydrogen peroxide, ozone sterilization, and hydrogen peroxide gas plasma. The use of biological indicators and monitoring systems is essential for confirming that sterilisation procedures are effective. Sterility assurance and regulatory compliance are ensured by advanced monitoring systems that measure sterilisation parameters like temperature, pressure, and exposure time in real-time. Due to technological breakthroughs, single-use medical devices (SUDs) can now be safely and effectively reprocessed. To guarantee that SUDS reprocessing technologies may be securely reused without jeopardising patient safety, advanced cleaning techniques, compatibility testing, and validation procedures are necessary.

Healthcare facilities can track the full lifecycle of reprocessed medical equipment due to advanced data management and traceability technologies. To ensure accountability and regulatory compliance, these systems offer thorough documentation of reprocessing cycles, including cleaning and sterilization settings, maintenance records, and device usage history. Technological developments have enhanced the techniques for validating and evaluating compatibility for recycled medical equipment. To make sure that devices stay secure and operational throughout the reprocessing cycle, sophisticated testing techniques evaluate how well devices work with sterilization techniques, reprocessing chemicals, and packaging materials. Reprocessing facilities and healthcare providers can communicate and exchange data easily due to integration with healthcare information systems. Efficient inventory management, device usage tracking, and prompt reordering of reprocessed equipment are made possible by electronic tracking systems, barcoding technology, and Radio Frequency Identification (RFID) tags. This supports the growth of the worldwide market for medical device reprocessing.

For instance, Olympus Corporation unveiled the Olympus ETD, the newest product in their line of infection prevention products, in June 2023. It comes in two categories: ETD Basic and ETD Premium. With better cleaning and disinfection results, this innovative concept aims to improve endoscope reprocessing's sustainability and efficacy. Healthcare facilities and professionals now have a quick and effective option due to the new Olympus ETD washer disinfector, which guarantees that endoscopes are completely cleaned and ready in just 29 minutes following the whole reprocessing cycle.

Rising Prevalence of Environmental Sustainability Drives Market Growth

Reprocessing medical equipment enables hospitals to keep devices in use rather than discarding them after just one use. This lessens the amount of medical waste that hospitals and clinics produce, which helps with waste reduction initiatives and reduces the adverse effects of healthcare operations on the environment. Reprocessing medical devices helps preserve important resources that would otherwise be utilized to create new ones, such as electricity, water, and raw materials. Healthcare facilities encourage resource conservation by prolonging the lives of medical devices through reprocessing, hence reducing overall resource use. Emissions and contaminants that are harmful to the environment and public health can arise from the manufacturing and disposal of medical devices.

Reprocessing medical devices lessens the need to produce new ones, which lessens the load on the environment and mitigates emissions and pollution from the production process. Reprocessing medical devices encourages resource reuse and recycling, which supports the ideas of a circular economy. Reprocessing creates a closed-loop system where medical items are reused, reconditioned, and reintroduced into the healthcare system, minimizing waste formation and the need for new materials. This is in contrast to a linear model of production and disposal. A growing number of healthcare facilities are implementing programs that give social impact and environmental sustainability a top priority. Reprocessing medical devices as part of healthcare operations shows a dedication to environmentally friendly operations and sustainable methods, which improves the organization's standing and builds community goodwill. Environmental sustainability and waste minimization in healthcare settings are becoming increasingly important to regulatory bodies. Reprocessing services and solutions are in high demand because healthcare facilities are encouraged to incorporate reprocessing techniques into their environmental management strategies by adhering to environmental legislation and standards. Concerns about sustainability and the environment are becoming more widely known to patients and the broader public. There is increasing demand for healthcare organizations to implement environmentally friendly practices, such as reprocessing medical devices, as patients seek out healthcare providers and facilities that prioritize the sustainability of the environment. The demand for medical device reprocessing will increase because of this issue.

For instance, Vanguard AG signed the third iteration of the Dutch Green Deal in March 2023. This agreement is a cooperative effort by government agencies, business associations, and other entities dedicated to promoting sustainable development in the Netherlands. Vanguard is collaborating with Landelijk Netwerk de Groene OK, a scientific and professional network, to strengthen its efforts to accomplish the objective of providing CO2-neutral care.

Increasing Dominance of Class II Devices Segment Leading to Market Growth

Over the projection period, the Class II devices segment is anticipated to have significant expansion as a consequence of the increased usage of appliances and devices that fall under this category. A wide variety of medical devices that pose a moderate to high risk to patients, fall under the category of Class II devices. These gadgets possess elaborate architecture, numerous components, and vital functions, which frequently necessitate a more thorough reprocessing procedure. Numerous medical specialties, such as cardiology, orthopedics, and gastroenterology, make extensive use of Class II equipment. This widespread use results in a greater number of devices that are suitable for reprocessing. Moreover, the cost implications associated with Class II devices are important. A number of these gadgets are costly to purchase, and the cost of healthcare is greatly increased by their disposability. Reprocessing offers the potential for cost reductions that make it an especially appealing option for healthcare providers under increasing pressure to optimize budget allocation. Reprocessing Class II devices provides a workable way to reduce costs while maintaining strict quality and safety requirements. For instance, FDA 510(k) clearance was granted to NEScientific, Inc. in February 2023 so that they could reprocess the Philips-IVUS Eagle Eye Platinum RX Digital catheter. It was anticipated that the introduction of this device would result in significant cost reductions for hospital cath labs and office-based labs nationwide.

North America to Dominate the Medical Device Reprocessing Market

The market for medical device reprocessing is anticipated to increase significantly in North America as a result of the region's rising cardiovascular disease incidence and rising costs associated with reusable medical device usage. Additionally, more surgical procedures and a greater willingness to accept reprocessed devices are anticipated to fuel market expansion in North America. Recent years have seen a considerable increase in surgical operations due to the increased frequency of chronic disease in the United States. Since they are more affordable, hospitals and other healthcare facilities are spending more money on remanufactured medical devices for surgical procedures rather than brand-new ones. For example, the National Library of Medicine published an article update in January 2023 stating that over 1,000,000 cardiac catheterization procedures are done yearly in the United States. As a result, the need for reprocessing is anticipated to expand due to the rise in catheterization operations in the US, which will lessen the financial burden of purchasing medical equipment like catheters and support market expansion throughout the projected period. In addition, the most often reprocessed items include breast pump kits, ventilator circuits, and burrs — drill bits used for cutting bone or teeth.

Most healthcare facilities reprocess single-use medical devices (SUMDs) internally; however, because third-party reprocessing is unregulated in Canada, Canadian hospitals outsource their reprocessing to FDA-approved third-party reprocessors in the United States. Currently, neither Canada nor the independent businesses that reprocess devices on behalf of Canadian hospitals are subject to regulations. Hospital boards, as well as territorial and provincial health ministries, decide whether to reprocess a device. In addition, the introduction of new goods and growth within the region suggests that the market for reprocessed medical devices is anticipated to grow due to an increase in demand. For example, in November 2022, Cardinal Health added up to 100,000 square feet of land to its Riverview, Florida, device recycling plant. Therefore, because of these calculated moves by the major competitors, the need for reprocessing single-use medical devices is anticipated to increase, supporting the market's expansion over the forecast period.

Future Market Scenario (2024-2031F)

The main factors contributing to the anticipated growth of the medical device reprocessing market are the rising awareness and acceptance in the medical sector about being sustainable, the increasing prevalence of environmental sustainability, and budget constraints that may occur due to high machinery costs. However, the growing need to use these devices that can be reused after going through reprocessing procedures is also going to fuel the market growth in the future. Given that technology is advancing, cutting-edge technology in the area is expected. Players in this market are expanding at an unparalleled rate, introducing cost-effective and efficient technologies. Government policies and policies made by welfare bodies are also greatly fueling the market expansion. For instance, Global Regulatory Standards for 'Single-Use' Medical Device Reprocessing and Remanufacturing were introduced in 2022 by the Association of Medical Device Reprocessors. It is the first road map to help Ministries of Health, Notified Bodies, and Medical Device Regulatory Agencies take advantage of its worldwide advantages for hospitals and healthcare systems.

Key Players Landscape and Outlook

Several companies such as Cardinal Health, Stryker Corporation, Medical Device Business Services, Inc. (Johnson & Johnson MedTech), Medtronic Plc, GE HealthCare Technologies Inc., Vanguard AG, Olympus Corporation, Medline Industries, LP., NEScientific, Inc., STERIS, etc. are expanding business by planning and adopting new strategies. They are complying with new strategic initiatives regarding the launches of newly developed reprocessors to help researchers and strengthen their presence in the market. New product launches, agreements based on contracts, acquisitions and mergers, investments, and partnerships are a few ways through which they are trying to achieve the same.

For instance, global medical technology leader GE HealthCare Technologies Inc. and all-in-one online retailer reLink Medical announced in October 2023 that they would collaborate to offer asset management solutions to healthcare providers to maximize equipment utilization, decrease waste from medical devices, and improve operational efficiency. A standardised medical equipment disposal strategy that comprises recycling, selling, or donating outdated equipment is part of this partnership.

For instance, AA Medical, a developer of sustainable solutions for the markets for new and resale medical devices, announced three new partnerships with well-known companies in the medical device reprocessing, disposition, and healthcare asset management sectors in October 2023. The company's strategic alliance with Zantek Medical, a reputable, certified biomed medical device reprocessing company, helps AA Medical achieve its goal of dominating the surgical device market.