Various public and private organizations are taking initiatives to reduce medical wastes, which is expected to drive the growth of global reprocessing and reuse of single use medical devices market over the forecast period. For instance, Practice Greenhealth, a non-profit organization, started a new initiative 'Greening the OR' in order to reduce cost, energy use, and waste generated in the hospital operating rooms. This helped the hospitals to save millions of dollars. For instance, in 2017, the U.S. based Cleveland Clinic saved US$ 4 million through this initiative.
Moreover, in 2017, the Japan's Ministry of Health, Labor and Welfare, introduced a scheme to recycle the parts of single-use devices and remanufacture them, in order to reduce the medical waste.
Market Dynamics
Market players are focusing on various inorganic strategies such as mergers and acquisitions, which is expected to augment the growth of global reprocessing and reuse of single use medical devices market over the forecast period. For instance, in September 2018, Vanguard AG completed the acquisition of Saxony-Anhalt plant of Pioneer Medical Devices AG, a medical device reprocessing company in order to continue the business operations of the reprocessing service and strengthen the sales and production operations in Aschersleben, Germany.
Similarly, in August 2019, Innovative Health entered into a partnership with Northeast Scientific, a U.S.-based medical device reprocessing company, to increase the cost savings of customers of both companies.
Key features of the study:
- This report provides an in-depth analysis of global reprocessing and reuse of single use medical devices market, provides market size (US$ Million), and compound annual growth rate (CAGR %) for the forecast period (2021-2028), considering 2020 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
- It profiles leading players in the global reprocessing and reuse of single use medical devices market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
- Key companies covered as a part of this study include Stryker Corporation, Medline Industries, Inc., Suretek Medical, Renu Medical Inc., Johnson & Johnson, Northeast Scientific Inc., Medtronic Plc, Steripro Canada, Vanguard AG, Innovative Health, Verathon Inc., and Hogy Medical, Ltd.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion, and marketing tactics
- The global reprocessing and reuse of single use medical devices market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision making through various strategy matrices used in analyzing the global reprocessing and reuse of single use medical devices market
Detailed Segmentation:
- Global Reprocessing and Reuse of Single Use Medical Devices Market, By Product Type:
- Class I
- Tourniquet Cuffs
- Pulse Oximeters
- Sequential Compression Sleeves
- Others
- Class II
- Endoscope
- Diagnostic Ultrasound Catheter
- Laparoscope
- Trocar
- Others
- Global Reprocessing and Reuse of Single Use Medical Devices Market, By Application:
- Cardiology
- Gastroenterology
- Orthopedic
- General Surgery
- Others
- Global Reprocessing and Reuse of Single Use Medical Devices Market, By End User:
- Hospitals/Clinics
- Ambulatory Surgical Centers
- Others
- Global Reprocessing and Reuse of Single Use Medical Devices Market, By Region:
- North America
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- Company Profiles
- Stryker Corporation*
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Strategies
- Medline Industries, Inc.
- Suretek Medical
- Renu Medical Inc.
- Johnson & Johnson
- Northeast Scientific Inc.
- Medtronic Plc
- Steripro Canada
- Vanguard AG
- Innovative Health
- Verathon Inc.
- Hogy Medical Co., Ltd.
“*” marked represents similar segmentation in other categories in the respective section.
