SEATTLE, Feb. 09, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global reprocessing and reuse of single use medical devices market is estimated to be valued at US$ 1,843.4 million in 2021 and is expected to exhibit a CAGR of 10.2% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Single Use Medical Devices Reprocessing Market:
Key trends in the market include increasing product approvals by regulatory authorities, and inorganic activities such as mergers and acquisitions.
The increasing product approvals by the regulatory authorities is expected to aid in the growth of the global reprocessing and reuse of single use medical devices market over the forecast period. For instance, in May 2018, Innovative Health, a medical device reprocessing company, received the U.S. Food and Drug Administration clearance for reprocessing the ViewFlex Xtra Diagnostic Ultrasound Catheter, which is manufactured by St. Jude Medical, Inc.
Key players in the market are focused on inorganic growth strategies such as mergers and acquisitions, which is expected to drive the market growth over the forecast period. For instance, in May 2018, Stryker’s Sustainability Solutions, a division of Stryker, acquired Hygia Health Services. Hygia focuses exclusively on reprocessing patient care single-use devices (SUDs) in the U.S. This acquisition will allow Stryker to better serve customers as a premier provider of sustainability solutions in the global healthcare market.
Request Sample copy of this Report @ https://www.coherentmarketinsights.com/insight/request-sample/4900
Similarly, in 2018, the U.S.-based Arjo, a global medical technology company, acquired ReNu Medical Inc., a company that specializes in green reprocessing for single use non-invasive medical devices. Through this acquisition, Arjo strengthened its position in the U.S. and in the global market.
Key Market Takeaways:
Increasing product approvals and increasing mergers and acquisitions by market players are expected to drive growth of the global reprocessing and reuse of single use medical devices market over the forecast period. For instance, in September 2018, Vanguard AG, a medical device remanufacturing company, announced the acquisition of Pioneer Medical Devices AG to enhance reprocessing services for medical devices. This strategy assisted the company in enhancing its product portfolio in the global market.
Competitive Landscape:
Key players operating in the global reprocessing and reuse of single use medical devices market include Stryker Corporation, Medline Industries, Inc., Suretek Medical, Renu Medical Inc., Johnson & Johnson, Northeast Scientific Inc., Medtronic Plc, Steripro Canada, Vanguard AG, Innovative Health, Verathon Inc., and Hogy Medical Co., Ltd.
Buy-Now this Research Report @ https://www.coherentmarketinsights.com/insight/buy-now/4900
Market Segmentation:
- Global Reprocessing and Reuse of Single Use Medical Devices Market, By Product Type:
-
- Class I
- Tourniquet Cuffs
- Pulse Oximeters
- Sequential Compression Sleeves
- Others
- Class II
- Endoscope
- Diagnostic Ultrasound Catheter
- Laparoscope
- Trocar
- Others
- Class I
- Global Reprocessing and Reuse of Single Use Medical Devices Market, By Application:
-
- Cardiology
- Gastroenterology
- Orthopedic
- General Surgery
- Others
- Global Reprocessing and Reuse of Single Use Medical Devices Market, By End User:
-
- Hospitals/Clinics
- Ambulatory Surgical Centers
- Others
- Global Reprocessing and Reuse of Single Use 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:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country:
-
-
- Asia Pacific
-
-
- By Country
-
-
-
-
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
-
- Middle East
-
-
-
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
-
-
- Africa
-
-
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
-
Related Market Intelligence Reports:
Asia Pacific Reprocessed Medical Devices Market, By Technique (Laparoscopic Devices, Gastroenterology, General Surgery, Orthopedic Devices, Cardiovascular Devices), By Countries (Australia, New Zealand, China, India, South East Asia, Japan, Rest of Asia-Pacific) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028
Pre-owned Medical Devices Market, By Type (X-ray, Mammography Machines, CT Machines, MRI Machines, Ultrasound Machines, Nuclear Imaging and Medicine Devices, C-arm Devices), and By Regions (North America, Latin America, Europe, Asia Pacific, Middle East, Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028
About Us:
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.
