Single-Use Medical Device Reprocessing Market Analysis by Trends 2020, Key Players Profile, Business Insights, Key Trends, Revenue and CAGR Status…

The single-use medical device reprocessing market was valued at USD 1,858.2 million in 2018 and is expected to register a CAGR of about 15.24% during the forecast period, 2019-2024. Reprocessing of single-use devices (SUDs) helps in saving costs and reducing medical waste. Reuse of single-use devices involves regulatory, ethical, medical, legal, and economic issues and has been extremely controversial for more than two decades. However, due to its cost saving nature and sustainability, single-use reprocessing of medical devices is now gaining recognition as a promising prospect. Along with cost reduction, it also results in environmental sustainability. SUD reprocessing is one of the top healthcare supply chain strategies used to reduce cost and optimize resources.

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Key Market Trends:

Electrophysiological Cardiac Catheters Segment is Poised to Register Robust Growth.

The utilization of single-use percutaneous catheters is generally done in interventional cardiology, but there has been an increasing number of cardiac interventions and the consequent economic load demand for assessing SUDs reuse. When safety and efficiency are assured by SUD reprocessing, substantial saving can be achieved in interventional cardiology, both at the departmental and national level, contributing to optimizing budget allocation for the healthcare system. The American Society of Cardiac Arrhythmias issued a favorable opinion to the reprocessing of electrophysiological devices to the FDA. The FDA classifies Electrophysiological Cardiac Catheters in Class 2 surgical devices and allows its reprocessing in the United States.

The United States to Dominate the Single-Use Medical Device Reprocessing Market.

The United States accounted for the largest market, accounting for around 86% of the North American market and is expected to witness a high CAGR of nearly 19% over the forecast period. The United States is followed by European countries, which is the next leading region in terms of revenue. Moreover, the single-use medical device reprocessing market is growing in Asia-Pacific, and the reuse of single-use devices in most of Asia is becoming common, particularly for injection needles. However, for the most part, there are no national regulations governing the reuse of SUDs and, thus, third-party reprocessors do not offer their services in most of the emerging economies of the Asia-Pacific region.

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Detailed TOC of Single-Use Medical Device Reprocessing Market 2020-2024:

1 INTRODUCTION 1.1 Study Deliverables 1.2 Study Assumptions 1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS 4.1 Market Overview 4.2 Market Drivers 4.2.1 Cost Savings Through Reprocessing Single-use Devices 4.2.2 Regulatory Pressure to Reduce Volume of Medical Waste 4.3 Market Restraints 4.3.1 Potential of Material Alteration and Cross Infection with Reprocessed Device 4.3.2 Preconceived Notions Regarding the Quality of Reprocessed Single-use Medical Devices (SUDs) 4.3.3 Lack of Regulations in SUD Reprocessing in Emerging Markets

4.4 Porters Five Forces Analysis 4.4.1 Threat of New Entrants 4.4.2 Bargaining Power of Buyers/Consumers 4.4.3 Bargaining Power of Suppliers 4.4.4 Threat of Substitute Products 4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION 5.1 By Device Type 5.1.1 Class I Devices 5.1.1.1 Sequential Compression Sleeves 5.1.1.2 Tourniquet Cuffs 5.1.1.3 Pulse Oximeter Sensors 5.1.1.4 Other Class I Devices 5.1.2 Class II Device 5.1.2.1 Microdebriders 5.1.2.2 Cautery Electrodes 5.1.2.3 Laparoscopic Graspers 5.1.2.4 Scissors 5.1.2.5 Forceps 5.1.2.6 Scalpels 5.1.2.7 Orthopedic Blades 5.1.2.8 Drill Bits 5.1.2.9 External Fixation Clamps 5.1.2.10 Electrophysiological Cardiac Catheters 5.1.2.11 Other Class II Devices 5.2 Geography 5.2.1 North America 5.2.1.1 US 5.2.1.2 Canada 5.2.1.3 Mexico 5.2.2 Europe 5.2.2.1 Germany 5.2.2.2 UK 5.2.2.3 France 5.2.2.4 Italy 5.2.2.5 Spain 5.2.2.6 Rest of Europe 5.2.3 Asia-Pacific 5.2.3.1 China 5.2.3.2 Japan 5.2.3.3 India 5.2.3.4 Australia 5.2.3.5 South Korea 5.2.3.6 Rest of Asia-Pacific 5.2.4 Middle East & Africa 5.2.4.1 GCC 5.2.4.2 South Africa 5.2.4.3 Rest of Middle East & Africa 5.2.5 South America 5.2.5.1 Brazil 5.2.5.2 Argentina 5.2.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE 6.1 Company Profiles 6.1.1 Medline 6.1.2 Nescientific Inc. 6.1.3 ReNu medical 6.1.4 Sterilmed Inc. 6.1.5 SteriPro 6.1.6 Stryker 6.1.7 Suretek Medical 6.1.8 Vanguard AG

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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Single-Use Medical Device Reprocessing Market Analysis by Trends 2020, Key Players Profile, Business Insights, Key Trends, Revenue and CAGR Status...