Medical devices like surgical forceps, endoscopes and stethoscopes remain at high-risk of virus-contamination, and influx of small microorganisms. The rising awareness of reprocess during the looming coronavirus pandemic, and advancements in disinfection procedures promise tremendous growth for the reprocessed medical devices market. Reprocessed devices are increasingly becoming a necessity as in-hospital infections remain on the rise, and reprocessed devices also provide major cost-advantages to institutions like hospitals. According to Centre for Disease Control (CDC), the Healthcare-acquired infection (HAI) account for 32% of all infections in 2019. Moreover, these register over 1.7 million incidences in US hospitals alone in the same year. HAIs accounted for over 99,000 deaths in 2019.
The Rising Demand for Chronic Illnesses Including Cancer Treatments Will Drive Robust Growth
According to Cancer.gov, there are over 16.9 million cancer patients in United States. Moreover, the government agency estimates that the number will likely rise to 22.2 million by 2030. The rising sedentary lifestyle, worsening environmental conditions, and urbanization will likely increase demand for effective cancer treatments. Moreover, with chronic illnesses like cancer, risk of urinary tract infections, which stand at over 22,000 per year as the leading cause of HAIs also rises significantly. Furthermore, several chronic diseases including AIDS, Alzheimer’s, COPD are also on the rise. This necessitates demand for more care for terminally bed-ridden patient care, increasing risk for infections further. On the other hand, hospitals are witnessed a shift towards in-home patient care for chronic diseases as costs for hospitalization continues to rise. The rise in costs for equipment, and rising demand from health authorities to control HIAs, and growing efficacy of reprocessing will provide a major impetus for growth in the reprocessed medical devices market.
Rising Demand in Cardiovascular Surgeries Remains Major Prospect for Growth
As sedentary lifestyle becomes a norm around the globe, the demand for cardiovascular surgeries has risen. Over 500,000 open heart surgeries are performed each year in United States as diseases like diabetes, heart conditions, cardiovascular diseases remain a leading causes of deaths. The procedures also remain extremely complex as operating on coronary artery bypass, heart, or aorta still requires tremendous expertise. This remains a strong driver for growth for surgical instruments, and subsequently, the reprocessed medical devices. The market accounted for more than 50% share of the overall market in 2019, and will likely lead growth as regulations driving single-use of equipment for essential surgeries, and rising elderly population in countries like the United States promise substantial growth for the reprocessed medical devices market.
Rising expansion of the healthcare facilities in emerging nations also remains a big draw for growth in the market. The growing opportunities in commercialization of healthcare will likely register double-digit growth for the healthcare segment during the forecast period. The dearth of skilled professionals remains a challenge. However, the cost-effectiveness of reprocessed medical devices will continue to boost adoption, especially as healthcare in major markets like the US adopts more to the need of low-income households.
Some key players operating in the global reprocessed medical devices market include Medline Industries, GE Healthcare, Soma Technology, Renu Medical (Arjo), and SureTek Medical.
The Reprocessed Medical Devices Market is Segmented as Below:
Cardiovascular medical devices
Blood pressure cuffs/tourniquet cuffs
Cardiac stabilization and positioning devices
Diagnostic electrophysiology catheters
Deep vein compression sleeves (DVT)
Gastroenterology and urology
Gastroenterology biopsy devices
Urology biopsy devices
Endoscopic trocars and components
General surgery equipment
Infusion pressure bags
Balloon inflation devices
Ambulatory surgical centers
Rest of North America
Rest of Europe
Rest of Asia Pacific
Rest of South America
Middle East & Africa
Rest of Middle East & Africa
InsightSLICE adopts a research methodology which is highly meticulous and comprehensive, yielding accurate research results. Our research methodology utilizes data triangulation model which helps in the precise collection and validation of information. Our set processes for problem solving and paid primary tools guarantee that any client requirement is met with utmost diligence and accuracy. Some of the primary components that are consequential to our research approach are:
Secondary Research or Desk Research
Distinctive Data Model
Secondary Sources include but are not limited to:
Past Published Research
Historical Data and Information
Primary Sources include but are not limited to:
InsightSLICE also leverages three types of data triangulation approaches as follows:
Data Source Triangulation
Extracting data and validation from multiple type of secondary and primary sources
Combining various methodologies to validate data inputs
Applying different theories to check credibility of data sets