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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.

Statistics:

Australia reprocessed medical devices market is estimated to account for US$ 34.6 Mn in terms of value by the end of 2019.

Australia Reprocessed Medical Devices Market: Drivers

Increasing hospital uptake of commercial medical device reprocessing is expected to propel growth of Australia reprocessed medical devices market over the forecast period. For instance, according to 20th Anniversary Report from Association of Medical Device Reprocessors, published din July 2019, hospital uptake of commercial medical device reprocessing doubled yearly for the last 20 years.

Australia Reprocessed Medical Devices Market: Opportunities

Increasing focus on reducing medical waste is expected to offer lucrative growth opportunities for players in Australia reprocessed medical devices market.

Australia Reprocessed Medical Devices Market: Restraints

Material alteration during exposure of device to extreme environment is expected to limit growth of Australia reprocessed medical devices market. Exposure to certain chemical agents such as decontamination agents and chemical sterilants during reprocessing procedures can damage medical devices. Residues from contamination agent materials or chemicals, if absorbed, can create chemical burns or cause sensitization in patients.

Key Takeaways:

Australia reprocessed medical devices 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. Increasing hospital uptake of commercial medical device reprocessing is expected to propel growth of Australia reprocessed medical devices market over the forecast period

Cardiology Devices segment held dominant position in Australia reprocessed medical devices market in 2019, accounting for 51.7% share in terms of value, increasing prevalence of cardiovascular diseases is expected to assist the segment growth.

Market Trends

Sterile processing is expected to aid in growth of Australia reprocessed medical devices market. Investment in staffing for central sterile departments staff is expected to reduce medical waste in the healthcare sector. Central sterile professionals can maximize their single use device reprocessing leading to significant saving.

Major players in Australia reprocessed medical devices market are focused on adopting M&A strategies to expand their product portfolio. For instance, in 2018, the U.S.-based Arjo acquired ReNu Medical Inc., a company that specializes in green reprocessing for single use non-invasive medical devices.

Regulations

  • In Australia, a reprocessed single used device is treated as a new distinct medical device with a new manufacturer (the organization, which performs reprocessing) who is responsible for showing conformity assessment of reprocessed products
  • The reprocessing organization must perform full compliance with essential principle and a proper conformity assessment of the reprocessed device

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.

To know the latest trends and insights prevalent in the Australia Reprocessed Medical Devices Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/australia-reprocessed-medical-devices-market-4213

Australia Reprocessed Medical Devices Market: Key Developments

Major players in Australia reprocessed medical devices market are focused on adopting partnership strategies to expand their product portfolio. For instance, in July 2019, Medline partnered and Greenhealth Exchange, a group purchasing consortium for health systems, for R&D of environmentally friendly medical products that eliminate well-known chemicals of concern

Segmentation

Scope of the report

  • 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.
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