Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Reprocessed medical devices are products that undergo reprocessing procedures and are used again. Reprocessing is a validated process used for a medical device that has been either used or is contaminated.  Reprocessing of a single used device or reusable device undergo steps like cleaning, disinfection and sterilization.

Statistics:

Australia reprocessed medical devices market is estimated to account for US$ 119.7Mn in terms of value by the end of 2027.

Australia Reprocessed Medical Devices Market: Drivers

Use of reprocessed medical devices leads to significant savings in the healthcare sector, which is expected to boost demand for such devices, thereby propelling growth of Australia reprocessed medical devices market over the forecast period. For instance, according to Association of Medical Device Reprocessors, reprocessing medical devices originally labeled for single use saved hospitals and surgery centers nearly US$ 500 million in 2018.

Moreover, introduction of quality management systems for medical devices is also expected to aid in growth of Australia reprocessed medical devices market. For instance, in April 2020, Cleanpart GmbH introduced a quality management system for medical devices according to DIN EN ISO 13485:2016

Statistics:

Cardiology Devices held dominant position in Australia reprocessed medical devices market in 2019, accounting for 51.7% share in terms of value, followed by Gastroenterology Devices, and Laparoscopy Devices, respectively.

Figure 1: Australia Reprocessed Medical Devices Market Share (%) Value, By Device, 2019

Australia Reprocessed Medical Devices  | Coherent Market Insights

Australia Reprocessed Medical Devices Market: Restraints

Risk of cross contamination and hospital acquired infections is expected to hinder growth of Australia reprocessed medical devices market. Absence of stringent regulations for reprocessed medical devices may result in increased cases of contamination and infections due to the use of these devices.

Moreover, negative perception about reprocessed medical devices is also expected to limit the market growth. It is often perceived that reprocessed medical devices are inferior to new devices in terms of safety, efficacy and product quality. Despite evidences and studies demonstrating how reprocessed medical devices are safe and effective, negative perceptions about the usage persist.

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Australia Reprocessed Medical Devices Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 34.6 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 17.5% 2027 Value Projection: US$ 119.7 Mn
Geographies covered:
  • Australia
Segments covered:
  • By Device: Gastroenterology Devices, Cardiology Devices, Laparoscopy Devices, Orthopedic/ Arthroscopic Devices, ENT Devices, Others.
  • By Classification: Critical, Semi - Critical, Non - Critical.
  • By End User: Hospitals, Diagnostic Centers, Ambulatory Surgical Centers.
Companies covered:

Stryker Sustainability Solutions, Inc., Medline ReNewal, Hygia Health Services, Inc., Cleanpart GmbH, ReNu Medical, Inc., SureTek Medical, and NEScientific

Growth Drivers:
  • Increasing prevalence of chronic diseases
Restraints & Challenges:
  • Risk of hospital acquired infection and cross contamination

Australia Reprocessed Medical Devices Market: Opportunities 

Reduced product pricing of reprocessed medical devices is expected to offer lucrative growth opportunities for players in Australia reprocessed medical devices market. Reprocessed medical devices are sold at approximately half the price of a new device (e.g. cost of a new diagnostic EP catheter ranges from US$ 400 to US$ 600, whereas cost of a reprocessed diagnostic EP catheter would cost around US$ 200 to US$ 300).

Moreover, strengthening distribution network is also expected to aid in growth of Australia reprocessed medical devices market.

Statistics:

Australia reprocessed medical devices market market was valued at US$ 34.6 Mn in 2019 and is forecast to reach a value of US$ 119.7 Mn by 2027 at a CAGR of 17.5% between 2020 and 2027.

Figure 2: Australia Reprocessed Medical Devices Market Value (US$ Mn), 2016 – 2027

Australia Reprocessed Medical Devices  | Coherent Market Insights

Market Trends/Key Takeaways

Major medical device manufacturers are focused on investment in reprocessed medical devices. For instance, in April 2019, NEScientific Inc. and ReNu Medical, Inc. joined The Association of Medical Device Reprocessors. Similarly, in November 2018, Cardinal Health also joined the association.

In Australia, hospitals and third-party reprocessors of single-use medical devices are required to conform to the same regulatory standards as the original manufacturer. Moreover, hospitals and third-party reprocessors of single-use medical devices are required to demonstrate that reprocessed devices are equally safe and perform as well as the original manufactured device.

Regulations

  • In South Australia, the medical devices labelled as “Single use only” must not be reprocessed. However, a product labelled as “Single patient use” can be reprocessed or recycled.
  • The regulatory authorities for re-manufacturing of medical device labelled as “single use” are covered by the Therapeutic Goods Act 1989, the Therapeutic Goods Regulations 1990 and the Therapeutic Goods Regulations 2002
  • If a device is reprocessed or manufactured it must include instructions for use for the reprocessed product based on Essential Principle 13.4 of the Regulations details the Australian requirements for Instructions for Use

Australia Reprocessed Medical Devices Market: Competitive Landscape

Major players operating in Australia reprocessed medical devices market include, Stryker Sustainability Solutions, Inc., Medline ReNewal, Hygia Health Services, Inc., Cleanpart GmbH, ReNu Medical, Inc., SureTek Medical, and NEScientific.

Australia Reprocessed Medical Devices Market: Key Developments

Major players in Australia reprocessed medical devices market are focused on adopting M&A strategies to expand their product portfolio. For instance, in 2018, Stryker Corporation acquired the U.S.-based Hygia Health Services Inc., a company focused into reprocessing patient care single-use devices.

Reprocessed medical devices are products that undergo reprocessing procedures and are used again. Reprocessing of a single used device or reusable device undergo steps like cleaning, disinfection and sterilization. Reprocessed medical device covered under this report includes gastroenterology devices, cardiology devices, laparoscopy devices, orthopedic/arthroscopic devices, ENT devices, and others that include devices such as pulse oximetry sensor and ultrasound catheters. Increasing hospital uptake of commercial medical device reprocessing, increasing focus on reducing medical waste along with introduction of quality management systems is expected to propel the market growth.

Key features of the study:

  • This report provides in-depth analysis of the Australia Reprocessed Medical Devices  market  and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2020–2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the Australia Reprocessed Medical Devices  market  based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include, Stryker Sustainability Solutions, Inc., Medline ReNewal, Hygia Health Services, Inc., Cleanpart GmbH, ReNu Medical, Inc., SureTek Medical, and NEScientific.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The Australia Reprocessed Medical Devices  market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Australia Reprocessed Medical Devices  market

Detailed Segmentation:

  • Australia Reprocessed Medical Devices  Market, By Device:
    • Gastroenterology Devices
    • Cardiology Devices
    • Laparoscopy Devices
    • Orthopedic/ Arthroscopic Devices
    • ENT Devices
    • Others
  • Australia Reprocessed Medical Devices  Market, By Classification:
    • Critical
    • Semi - Critical
    • Non - Critical
  • Australia Reprocessed Medical Devices  Market, By End User:
    • Hospitals
    • Diagnostic Centers
    • Ambulatory Surgical Centers
  • Company Profiles
    • Stryker Sustainability Solutions, Inc. *
      • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Overview
      • Strategies
    • Medline ReNewal
    • Hygia Health Services, Inc.
    • Cleanpart GmbH
    • ReNu Medical, Inc.
    • SureTek Medical
    • NEScientific
  •  “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Device
      • Market Snippet, By Classification
      • Market Snippet, By End User
      • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Highlights
    • Product launch
    • PEST Analysis
    • Technological Advancements
    • Regulatory Scenario
    • Mergers and Acquisitions
    • COVID19 Impact on the market
  4. Australia Reprocessed Medical Devices  Market, By Device, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Gastroenterology Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Cardiology Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Laparoscopy Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Orthopedic/ Arthroscopic Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • ENT Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  5. Australia Reprocessed Medical Devices  Market, By Classification, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Critical
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Semi - Critical
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Non - Critical
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. Australia Reprocessed Medical Devices  Market, By End User, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Diagnostic Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Ambulatory Surgical Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  7. Competitive Landscape
    • Company Profiles
      • Stryker Sustainability Solutions, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Medline ReNewal
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Hygia Health Services, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Cleanpart GmbH
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • ReNu Medical, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • SureTek Medical
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • NEScientific
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 18 market data tables and 10 figures on “Reprocessed Medical Devices Market - Australia forecast to 2027”.

Frequently Asked Questions

The Australia Reprocessed Medical Devices market size was valued at US$ 34.6 million in 2019 and is estimated to exhibit a CAGR of 17.5% between 2020 and 2027.
Cardiology Devices segment held the major market share in 2019 owing to increasing prevalence of cardiovascular diseases is expected to propel growth of the market
Major factor driving the growth of Australia Reprocessed Medical Devices market during the forecast period increasing prevalence of chronic diseases, increasing research & development , and adoption of expansion strategies from major companies.
Risk of cross contamination and hospital acquired infections is expected to hinder growth of Australia reprocessed medical devices market.
Hospitals segment is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are Stryker Sustainability Solutions, Inc., Medline ReNewal, Hygia Health Services, Inc., Cleanpart GmbH, ReNu Medical, Inc., SureTek Medical, and NEScientific
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