Reprocessed Medical Devices Market size forecast to surpass USD 5 billion by 2023

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Reprocessed Medical Devices Market size revenue
forecast to surpass USD 5 billion by 2023,
growing at about 20 CAGR estimations from 2016
to 2023 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
Low Power Wide Area Network
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Regional Analysis of Reprocessed Medical Devices
Market

• North America reprocessed medical devices market
  share was over 50 of the global revenue
  generated in 2015.
• This was mainly on account of tangible cost
  savings and favorable regulatory landscape
  regarding sustainable waste disposal methods.
• The Asia Pacific reprocessed medical devices
  market share is predicted to witness high growth
  due to the increasing investment by the companies
  in countries like India and China in setting up
  manufacturing facilities along with attempts at
  cost reduction.

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Application Analysis of Reprocessed Medical
Devices Market

• Based on the type of product, the global
  reprocessed medical devices market is divided
  into cardiovascular, gastroenterology,
  orthopedic/arthroscopic, laparoscopic, and
  general surgery equipment.
• Reprocessed cardiovascular market accounted for
  over 58 of the overall share in 2015, as a
  result of growing use of products such as blood
  pressure cuffs, cardiac positioning and
  stabilization equipment and diagnostics
  electrophysiology catheters in numerous cardiac
  surgeries and blood pressure monitoring
  applications. The sector is forecast to grow at a
  CAGR of above 19 from 2016 to 2023.
• Among this segment, diagnostic electrophysiologica
  l catheters accounted for the largest share while
  positioning devices are predicted to be the
  fastest growing segment over the forecast
  timeframe.

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Competitive Market Share of Reprocessed Medical
Devices Market

• Major companies in the global medical reprocessed
  devices market include Centurion Medical Products
  Corp., GE Healthcare, Hygia Health Services,
  Mediline ReNewal, Midwest Reprocessing Centre,
  ReNu Medical Inc., Siemens Healthcare, Soma
  Technology, Steril Med Inc., Stryker
  Sustainability, SureTek Medical, and Vanguard AG.
• The companies are engaged in various strategic
  alliances like mergers and acquisitions and
  product approvals as this industry is highly
  competitive.
• For example, the acquisition of Nuvo-Med which
  manufactures Disimpactor class I medical devices
  used in the treatment of fecal impaction by
  Centurion Medical Products Corp. in January 2016.
  Intalere Choice signed an agreement with HYGIA
  Health Services to enhance the supply of
  reprocessed medical devices.

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