Single Use Medical Device Reprocessing Market Growth Accelerated by Increased Demand for Cost-Effective Medical Devices

 Single-use medical devices like surgical instruments, gloves, drapes etc. find widespread application in a variety of medical procedures due to benefits like lower risk of infection and improved sterility. However, single-use also translates to higher medical waste generation and costs. Reprocessing of selected devices to ensure similar safety and quality standards but at a cheaper cost addresses this challenge.

The global Single Use Medical Device Reprocessing Market is estimated to be valued at US$ 645.43 Mn in 2024 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increased demand for cost-effective medical solutions drives the growth of the single use medical device reprocessing market. Hospital budgets are under mounting pressure due to rising healthcare costs. Reprocessing selected single-use devices allows cost savings of up to 70% compared to original prices without compromising on safety and effectiveness. It is seen as a sustainable option that helps reduce medical waste generation in a resource-intensive industry. With the growing preference for affordable healthcare worldwide, demand for reprocessed single-use devices is expected to increase notably over the forecast period.

Segment Analysis
The global single use medical device reprocessing market is dominated by the gastrointestinal devices sub-segment owing to the high volumes of procedures performed in lower GI endoscopy. Single use gastrointestinal devices such as endoscopes, biopsy forceps, graspers, snares and others comprise a major portion of the market. The widespread adoption of lower GI endoscopy for various diagnostic and therapeutic applications boosts the demand for these single use devices.

Key Takeaways

The global single use medical device reprocessing market is expected to witness high growth on account of rising cost pressures on the healthcare systems, constraints on hospital budgets and growing focus on environmental sustainability.

Regional analysis: The Asia Pacific region is expected to witness the fastest growth in the single use medical device reprocessing market during the forecast period. Rapidly improving healthcare infrastructure, favorable government policies supporting reprocessed devices, and growing medical tourism industry are some of the key factors driving market growth in the region. Countries like China, India, Japan and South Korea are expected to be the major revenue generators.

Key players operating in the single use medical device reprocessing market are Stryker Corporation, Medline ReNewal, Centurion Medical Products Corporation, Midwest Reprocessing Center, SterilMed Inc., Vanguard AG and Hygia Health Services Inc. Stryker Corporation offers a wide range of reprocessed equipment and devices for orthopedic, neurosurgical and laparoscopic procedures. Medline ReNewal provides single-use device reprocessing services for general surgery, laparoscopy and gastrointestinal procedures.