Global Single-Use Medical Device Reprocessing Market to Grow at a CAGR of 15.1% by 2031.

Introduction

Single-use medical device reprocessing includes, among other stages, disinfection, cleaning, remanufacturing, testing, packaging and labeling, and sterilization of a used medical device to be reused. The primary drivers driving the growth of the single-use medical device reprocessing market are cost savings from reprocessing single-use devices and regulatory pressure to minimize medical waste volumes. For instance, Innovative Health partnered with Acutus Medical in October 2019 to provide advanced electrophysiology (EP) technology to improve patient outcomes cost-effectively. Such initiatives may contribute to the expansion of the market.

Market Dynamics

Cost Savings Through Reprocessing Single-use Devices to Drive the Global Single-Use Medical Device Reprocessing Market

Reprocessing single-use medical devices have been a standard procedure in medical rooms and healthcare facilities for many years as a cost-saving approach. According to a June 2020 article titled "Do reprocess single-use medical gadgets put people at risk due to cost savings and sustainability?" Reprocessing a single-use device costs around half as much as acquiring a new device, resulting in significant cost savings for healthcare facilities that reprocess SUDs. Thus, there is a vast possibility for cost savings through reprocessing single-use medical equipment, which is a significant element propelling the global expansion of the market under study.

In addition, according to the 2019 AMDR Survey, hospitals and surgical centers that used reprocessed single-use medical equipment saved USD 544,877,193 in 2019, an increase of more than 15% from 2018. In 2019, hospitals that utilized reprocessed single-use devices saved USD 21,724,304 through reduced waste disposal, according to the survey. Consequently, these results suggest that the cost reductions realized through reprocessing single-use medical devices may increase the demand and adoption of single-use medical devices in the future. In addition, numerous market participants are reprocessing medical devices, which may result in cost savings. Consequently, cost savings from reprocessing single-use medical devices is a primary element driving market expansion.

Growing Focus on the Circular Economy to Provide Opportunities for the Global Single-Use Medical Device Reprocessing Market

The global emphasis on the circular economy is boosting the need for medical gadgets with a single usage. For instance, according to a December 2020 article titled "Transforming The Medical Device Industry: Road Map To A Circular Economy," a circular economy offers to function within planetary limitations, with the added benefits of constructing resilient supply chains and providing social value.

Therefore, reuse and recycling are viable possibilities. Numerous original equipment manufacturer (OEM)-labeled disposable products are also available. Thus, these devices are also recyclable. According to a May 2020 statement by the World Health Organization (WHO), the UNIDO is supporting medical waste management activities in nations worldwide in response to the ongoing COVID-19 situation. The firm has extensive expertise in collaborating with nations to enhance waste management procedures. In India, for instance, UNIDO and the Ministry of Environment, Forests, and Climate Change are partnering on a project concentrating on medical waste management in five states: Gujarat, Karnataka, Maharashtra, Odisha, and Punjab.

Thus, several efforts are being launched that will raise the demand for reprocessed single-use medical devices in the future, thereby increasing the use of reprocessed single-use medical devices.

Regional Insights

By region, the global single-use medical device reprocessing market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. 

North America accounted for the largest market share and is estimated to grow at a CAGR of 15.8% during the forecast period. The market analyzed in the United States is driven by regulatory pressure to minimize medical waste volume, greater acceptance of reprocessed single-use devices, and significant cost savings from employing reprocessed single-use devices (SUD). In recent years, the increasing frequency of chronic disease in the United States has led to a significant increase in surgical treatments. Due to cost reductions, hospitals and other healthcare facilities are increasingly investing in reprocessed medical devices rather than brand-new ones for surgical procedures. This is projected to generate attractive growth potential for the market throughout the forecast period.

Europe is the second largest region. It is estimated to reach an expected value of USD 645 million by 2031, registering a CAGR of 15.4%. The examined German market is anticipated to hold a considerable share of the European SUD reprocessing industry. As a result of the reprocessing of single-use devices, this industry is primarily driven by the decrease in overall healthcare expenses. In Germany, reprocessing has been regulated for over a decade, and numerous hospitals have reported significant cost savings. Public authorities and EU-accredited notified entities to monitor it closely. On August 19, 2020, the European Union Commission implemented Regulation (Eu) 2020/1207, which specifies uniform criteria for reprocessing single-use medical devices at healthcare facilities and external reprocessors. In Germany, regulatory organizations have authorized and regulated reprocessing, which is anticipated to raise demand for reprocessed SUD and stimulate industry expansion. According to an article published in the 2018 edition of Elsevier Journal titled "Towards design strategies for circular medical products," the amount of waste generated per hospital patient daily is 3,6 kilograms, which is anticipated to increase over time. Thus, it is anticipated that the studied market will expand due to the rising trash and regulatory pressure to limit its volume.

Asia-Pacific is the third largest region. Due to factors like the absence of a legal mandate for reprocessing single-use medical devices in China, the single-use medical device reprocessing market in China is anticipated to exhibit sluggish growth during the forecast period. In the poor world, reprocessing single-use medical equipment needs to be more carefully regulated and supervised. China reported a high percentage of reusing disposable medical devices, although there are no explicitly approved third-party reprocessors in the country. A paper titled "Safety of laparoscopic graspers with different configurations during liver tissue clamping" was published in April 2018 and predicted that the use of laparoscopic graspers would increase in China, thereby increasing the cost of hospital waste disposal.

Consequently, the reprocessing of laparoscopic equipment, such as graspers, is gaining popularity. Reprocessed surgical devices bolster the reduced risk of contamination and increase convenience. Because of factors like the absence of a legal mandate for reprocessing single-use medical devices in the country, it is anticipated that the studied market will expand slowly over the forecast period.

Key Highlights

• The global single-use medical device reprocessing market size was valued at USD 700 million in 2022. It is estimated to reach a predicted value of USD 4000 million by 2031, registering a CAGR of 15.7% during the forecast period (2022-2031).
• By device type, the global single-use medical device reprocessing market is segmented into class I devices (laparoscopic graspers, scalpels, tourniquet cuffs, other class I devices), class II devices (pulse oximeter sensors, sequential compression sleeves, catheters, and guidewires, other class II devices). The class II devices segment accounted for the largest market share and is estimated to exhibit a CAGR of 15.9% during the forecast period. Within class II devices, the sequential compression sleeves accounted for the largest market share and is estimated to exhibit a CAGR of 16.5% during the forecast period. 

Competitive Players

Competitive Landscape

Key players in the global single-use medical device reprocessing market are Sterilmed Inc. (Johnson & Johnson), Stryker Corporation, SureTek Medical, Medline Industries Inc., NEScientific Inc., SteriPro, Innovative Health, ReNu Medical (Arjo)

Recent Developments

Recent Developments by Key Players

• November 2022 - The Janssen Pharmaceutical Companies of Johnson & Johnson are committed to redefining treatment outcomes in the hematology setting and announced that abstracts from more than 50 company-sponsored studies, plus more than 20 investigator-initiated studies, will be declared at the American Society of Hematology (ASH) Annual Meeting in New Orleans from December 10-13, 2022. 

Segmentation

Global Single-Use Medical Device Reprocessing Market: Segmentation

By Device Type

• Class I Devices

  • Laparoscopic Graspers
  • Scalpels
  • Tourniquet Cuffs
  • Other Class I Devices

• Class II Devices

  • Pulse Oximeter Sensors
  • Sequential Compression Sleeves
  • Catheters and Guidewires
  • Other Class II Devices

By Region

• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America