The Europe reprocessed medical devices market is expected to reach US$ 1,525.69 million by 2028 from US$ 591.24 million in 2021; it is estimated to grow at a CAGR of 14.5% from 2021 to 2028.
The “Europe reprocessed medical devices market”, based on product, has been segmented into cardiovascular medical devices, gastroenterology biopsy forceps, orthopedic external fixation devices, laparoscopic medical devices, general surgery medical devices, non-invasive devices, and others. The Europe reprocessed medical devices market, based on end user was segmented into hospitals and clinics, ambulatory surgical centers, medical laboratories, and others. Geographically, Europe reprocessed medical devices market can be divided into Spain, Italy, UK, Germany, France and Rest of Europe.
The usage of reprocessed single-use devices (SUDs) has grown as a common practice worldwide. According to the research article “Transforming the Medical Device Industry: Road Map to a Circular Economy,” published in December 2020, the healthcare system of high-income countries is primarily based on a linear supply chain that contains single-use disposable medical devices, which not only raises healthcare costs but also creates other issues such as waste and pollution. Thus, the rising use of SUDs has an indirect but significant impact on the environment and ecosystem.
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Major key players covered in this report:
- Medline Industries, Inc.
- Arjo Medical Devices
- Stryker Corporation
- Teleflex Incorporated
- Johnson and Johnson Services, Inc.
- 3M
- STERIS plc.
- Cardinal Health Inc
- Vanguard AG
In most modern nations, SUDs reprocessing is carefully regulated, with well-established reprocessing protocols by the Food and Drug Administration (FDA). Reprocessing has been regulated in Germany for over a decade, with many hospitals reporting significant cost reductions. Public authorities and the European Union (EU) accredited notified body closely monitor it. Similarly, the Medicines and Healthcare Products Regulatory Agency (MHRA) in the UK approved the use and manufacture of reprocessed single-use medical devices. It also assists insurers and hospitals in better managing and lowering healthcare costs as the healthcare system evolves. Single-use devices are to be reused according to the necessary and important requirements and information on the specific technique to allow reuse, such as the sterilization method and processes, including cleaning and disinfection. According to the Association of Medical Device Reprocessors (AMDR), reprocessing SUDs can save up to 50% of hospital costs while also helping to reduce waste. According to a recent study conducted by the Fraunhofer Institute for Environmental Safety and Energy Technology, reprocessed electrophysiology (EP) catheters can reduce the environmental affect by nearly half compared to new devices. Furthermore, these products maintain the same quality standards as originally manufactured devices, improving patient safety and driving demand for these products.
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Europe Reprocessed Medical Devices market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the Europe Reprocessed Medical Devices market segments and regions.
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The research on the Europe Reprocessed Medical Devices market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the Europe Reprocessed Medical Devices market on the basis of end user, product type, application, and demography for the forecast period 2021–2028. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.
This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the Europe Reprocessed Medical Devices market.
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