The medical device reprocessing market was valued at $1.4 billion globally in 2020 and is expected to grow at a CAGR of 16% to reach $3 billion by 2031. Over the evaluation period 2021-2031, reprocessing support and services are expected to increase at a CAGR of 15%.
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Key Findings of the Medical Device Reprocessing Market Study:
- Regional analysis of the Medical Device Reprocessing Market based on a predefined taxonomy.
- Innovative manufacturing processes implemented by Art suppliers are detailed.
- Regional and country segmentation of the medical device reprocessing market to determine revenue and growth prospects for this segment.
- Changing preferences of consumers in different regions and countries.
- Factors affecting the growth of the medical device reprocessing market (both positive and negative).
Major companies are focusing on strategies such as R&D investment, new market development, production base and facility expansion, new product launch, product licensing, and patents.
- In May 2019, Medtronic announced the US FDA approval and availability of the Select Site C304-HIS biased catheter system. This system is used for processes related to His-bundle pacing (HBP). This strategic move helped the company generate additional revenue and strengthen its position in the industry.
- In April 2019, 3M announced the addition of 4075, a 3M extended wear medical transfer adhesive, to its lineup of advanced adhesives for medical devices. This allowed the company to expand its product portfolio.
- In September 2018, Vanguard announced the acquisition of Pioneer Medical Devices AG to strengthen its medical device reprocessing services. This strategy has helped the company strengthen its product portfolio in the global market.
Major Sectors Covered in Medical Device Reprocessing Industry Study
· By product and service
- Reprocessing Support and Services
- Reprocessing of medical devices
· By device
- laparoscopic instruments
- biopsy instrument
- endoscopic instruments
- Cables, poles, curves and cutters
· By application
- Gastroenterology, Urology and Obstetrics
- Arthroscopy and Orthopedics
- general surgery and anesthesia
· By region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Queries covered in the Medical Device Reprocessing Market report:
- Why are Medical Device Reprocessing market players targeting regions for increasing product sales?
- What patented technologies are players utilizing in the global medical device reprocessing market?
- Which region is exhibiting the fastest growth in the medical device reprocessing market?
- What are the fundamental micro-macroeconomic factors impacting the global medical device reprocessing market?
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