Dublin, Aug. 08, 2024 (GLOBE NEWSWIRE) -- The "U.S. Reprocessed Medical Devices Market Size, Share & Trends Analysis Report by Product Type (Cardiovascular), Type (Third-party Reprocessing, In-house Reprocessing), End-use (Hospitals), and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The U.S. reprocessed medical devices market size is anticipated to reach USD 3.09 billion by 2030 and is anticipated to expand at a CAGR of 16.3%
Many single-use devices are expensive and reprocessing them can help hospitals and healthcare facilities save a considerable amount of money. Reputable reprocess brands, such as Innovative Health and Stryker, adhere to strict quality control standards and regulatory requirements. Strict guidelines and standards are in place to ensure that reprocessed devices meet the same quality and safety requirements as new ones. This allows patients to receive high-quality care without the need to use new, potentially more expensive devices. 
The increasing usage of these reprocessed medical devices over the newer ones every time leads to saving resources and cutting costs. For instance, as per the information published by the Association of Medical Device Reprocessors (AMDR), maximizing the use of reprocessed single-use medical devices can help hospitals in the U.S. to save approximately USD 2.28 billion annually.
To protect patient safety and preserve device efficacy, reprocessed medical devices need to go through stringent quality control and sterilizing procedures. The FDA oversees guaranteeing the efficacy, safety, and quality of medical devices, including ones that have undergone reprocessing. Reprocessed medical devices are classified as "single-use devices" since they have been sanitized, cleaned, and packed for further use.
Under the Federal Food, Drug, and Cosmetic Act's Medical Device Amendments, the FDA oversees regulating these devices. Before putting their devices on the market, manufacturers of reprocessed devices have to get FDA clearance or approval and adhere to certain quality system requirements.
U.S. Reprocessed Medical Devices Market Report Highlights
- The cardiovascular segment dominated the product segment with 56.5% share in 2023 and is expected to grow at the fastest CAGR over the forecast period. This high prevalence leads to a significant demand for medical devices used in cardiovascular treatments and diagnostics, which, in turn, creates demand for reprocessed medical devices
- The 3rd party reprocessing segment held the largest market share in 2023. Third-party reprocessing companies offer cost-effective solutions for reprocessing medical devices
- Hospitals dominated the end-use segment in 2023. Hospitals and healthcare facilities use reprocessed medical devices as they offer significant cost savings compared to purchasing new, single-use devices
Companies Featured
- Stryker
- Innovative Health
- NEScientific, Inc.
- Medline Industries, Inc.
- Arjo
- Vanguard AG
- Cardinal Health
- SureTek Medical
- Soma Tech Medical
- Johnson & Johnson Services, Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.08 Billion |
| Forecasted Market Value (USD) by 2030 | $3.09 Billion |
| Compound Annual Growth Rate | 16.3% |
| Regions Covered | United States |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. U.S. Reprocessed Medical Devices Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.1.1. Rising incidence of diseases
3.2.1.2. Technological advancements in healthcare
3.2.1.3. Increasing emphasize on costs cutting
3.2.2. Market restraint analysis
3.2.2.1. Stringent regulations & approvals
3.3. U.S. Reprocessed Medical Devices Market Analysis Tools
3.3.1. Industry Analysis - Porter's
3.3.2. PESTEL Analysis
Chapter 4. U.S. Reprocessed Medical Devices Market: Product Type Estimates & Trend Analysis
4.1. Product Market Share, 2023 & 2030
4.2. Segment Dashboard
4.3. U.S. Reprocessed Medical Devices Market by Product Outlook
4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
4.4.1. Cardiovascular
4.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Million)
4.4.1.2. Blood pressure cuffs
4.4.1.3. Positioning devices
4.4.1.4. Cardiac stabilization devices
4.4.1.5. Diagnostic electrophysiology catheters
4.4.1.6. Deep vein thrombosis compression sleeves
4.4.1.7. Electrophysiology cables
4.4.2. Laparoscopic
4.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Million)
4.4.2.2. Harmonic scalpels
4.4.2.3. Endoscopic trocars
4.4.3. Gastroenterology
4.4.3.1. Market estimates and forecasts 2018 to 2030 (USD Million)
4.4.3.2. Biopsy forceps
4.4.4. General surgery
4.4.4.1. Market estimates and forecasts 2018 to 2030 (USD Million)
4.4.4.2. Pressure bags
4.4.4.3. Balloon inflation devices
4.4.5. Orthopedic
Chapter 5. U.S. Reprocessed Medical Devices Market: Type Estimates & Trend Analysis
5.1. Type Market Share, 2023 & 2030
5.2. Segment Dashboard
5.3. U.S. Reprocessed Medical Devices Market by Type Outlook
5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
5.4.1. 3rd party reprocessing
5.4.2. In-house reprocessing
Chapter 6. U.S. Reprocessed Medical Devices Market: End-use Estimates & Trend Analysis
6.1. End-use Market Share, 2023 & 2030
6.2. Segment Dashboard
6.3. U.S. Reprocessed Medical Devices Market by End-use Outlook
6.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
6.4.1. Hospitals
6.4.2. Home healthcare
Chapter 7. Competitive Landscape
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Company/Competition Categorization
7.3. Vendor Landscape
7.3.1. List of key distributors and channel partners
7.3.2. Key customers
7.3.3. Key company heat map analysis, 2023
7.4. Company Profiles
7.4.1. Company overview
7.4.2. Financial performance
7.4.3. Product benchmarking
7.4.4. Strategic initiatives
For more information about this report visit https://www.researchandmarkets.com/r/wqe88e
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