Medical Device Reprocessing Market worth $3.9 billion by 2027

Medical Device Reprocessing Market is projected to grow from USD 2.0 billion in 2022 to USD 3.9 billion by 2027, at a CAGR of 13.7% from 2022 to 2027 according to a new report by MarketsandMarkets™. Growth in this market is mainly driven by the rising need to reduce healthcare costs, and the increasing adoption of strategies to reduce medical waste.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=583

Browse in-depth TOC on "Medical Device Reprocessing Market"

110 – Tables
41 – Figures
177 – Pages

The reprocessed support and services segment accounted for the largest share in 2021

Based on type, the medical device reprocessing market is segmented into reprocessing support & services and reprocessed medical devices. In 2021, the reprocessed support & services segment accounted for the largest share of this market. The rising number of surgical procedures associated with growing prevalence of chronic diseases is expected to increase the adoption of third party reprocessing services by healthcare facilities to reduce in-house reprocessing costs.

The critical devices segment is expected to have the highest CAGR during the forecast period

Based on the device type, the medical device reprocessing market is segmented into critical devices, semi-critical devices, and non-critical devices. Critical devices segment is expected to register the highest growth during the forecast period. The growth in this market is mainly driven by the increasing cardiac and electrophysiology (EP) procedures, leading to increased utilization of reprocessed electrophysiology, diagnostic, and cardiology catheters.

The cardiology segment is expected to register the highest growth during the forecast period

Based on application, the medical device reprocessing market is segmented into cardiology, gastroenterology, gynecology, arthroscopy and orthopedic surgery, general surgery & anesthesia, and other applications (urology, non-invasive surgeries, and patient monitoring). The cardiology segment is expected to register the highest growth during the forecast period. This is mainly driven by the favorable approvals from FDA for reprocessing catheters due to rising cardiovascular diagnostic and surgical procedures across healthcare facilities.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=583

North America holds the largest share of the medical device reprocessing market

North America accounted for the largest share of the pharmacy automation market in 2021. Factors such as favorable US FDA approvals on reprocessing medical devices, growth in the healthcare sector, and the presence of top medical device reprocessing service providers in the US are expected to contribute to the growth of the market in North America.

The prominent players in the medical device reprocessing market are Stryker Corporation (US), Johnson & Johnson (US), Vanguard AG (Germany), Medtronic PLC (Ireland), Steris Healthcare (US), Medline ReNewal (US), Innovative Health (US), Arjo Group (ReNu Medical, Inc.) (Sweden), SteriPro Canada, INC. (Canada), Northeast Scientific, INC. (US), Cardinal Health (Sustainable Technologies) (US), and  SureTek Medical(US).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=583

Browse Adjacent Market: Medical Devices Market Research Reports & Consulting

Related Reports:

Medical Device Cleaning Market by Process (Precleaning, Automatic, Manual Cleaning, Disinfection), Type (Non-Enzymatic, Enzymatic), Application (Surgical, Endoscope, Ultrasound, Dental Instruments) & End user (Hospitals, Clinics) - Global Forecast to 2027

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/reprocessed-refurbished-medical-devices-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/medical-device-reprocessing.asp

Article source: https://article-realm.com/article/Health-Fitness/Exercise/34404-Medical-Device-Reprocessing-Market-worth-3-9-billion-by-2027.html