Seattle, Oct. 11, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global reprocessed medical devices market is estimated to be valued at US$ 3,091.8 million in 2022 and is expected to exhibit a CAGR of 20.4% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Reprocessed Medical Devices Market:
Increase in awareness of medical waste generated every year and its side effects by key players operating in market are expected to drive growth of market during the forecast period. For instance, according to data published in July 2021, by Elsevier B.V which is a Netherlands-based academic publishing company specializing in scientific, technical, and medical content, stated that around 5.9 million tons of medical waste is generated per year from healthcare facilities across the U.S.
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Key Market Takeaways:
Global reprocessed medical devices market is expected to exhibit a CAGR of 20.4% during the forecast period due to increasing prevalence of chronic diseases. For instance, according to the data published on September 2021, by International Diabetes Federation, which is an umbrella organization of over 230 national diabetes associations in more than 160 countries and territories, stated that the globally total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045.
Among application, cardiology segment is expected to hold a dominant position over the forecast period, owing to increasing prevalence of cardiac diseases. For instance, according to data published in July 2022, by Centers for Disease Control and Prevention (CDC), stated that about 697,000 people in the U.S. died from heart disease in 2020.
On the basis of end user, hospital segment is expected to hold a dominant position over the forecast period, owing to increasing efforts for cost-saving and sustainability by hospitals. For instance, according to data published in June 2019, by National Library of Medicine (NIH) stated that 28% of hospitals in China, used reprocessed medical devices.
Competitive Landscape:
Key players operating in the global reprocessed medical devices market include Stryker Corporation, Johnson & Johnson, Vanguard AG, Medline ReNewal , SteriPro Canada, Inc., Pioneer Medical Devices AG, Vascular Solutions, Inc., HYGIA Health Services, Inc., ReNu Medical, Inc., SureTek Medical, and Centurion Medical Products Corporation
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Market Segmentation:
- Global Reprocessed Medical Devices Market, By Technique:
- Laparoscopic Devices
- Gastroenterology
- General Surgery
- Orthopedic Devices
- Cardiovascular Devices
- Others
- Global Reprocessed Medical Devices Market, By Application:
- Cardiology
- Gynecology
- Gastroenterology
- Anesthesia
- Global Reprocessed Medical Devices Market, By End User:
- Hospitals
- Clinics
- Home Healthcare
- Diagnostic Centers
- Ambulatory Surgical Centers
- Others
- Global Reprocessed Medical Devices Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
