Single-use Medical Device Reprocessing Market - Segmented by Type of Device (Class I and Class II) and Geography - Growth, Trends, and Forecast (2018 - 2023)
The Single-use Medical Device Reprocessing market was valued at USD 1625.99 million in 2017, is expected to register a CAGR of about 15.24% during the forecast period, 2018-2023. Single-use device (SUD) reprocessing includes cleaning, disinfection, sterilization, as well as testing and restoration of the technical and functional safety of the used device. Reprocessing of SUDs makes it possible for hospitals to maintain patient care quality, while saving substantial amounts of money. The more devices reprocessed, the greater financial benefits. This report analyzes the market trends of patient monitoring equipment, future growth, and the regional market of the same.
Healthcare Facilities Achieve Significant Cost Savings through Reprocessing Single-Use Devices which is boosting the growth of the Market
In 2002, the FDA established statutory requirements for reprocessing of single-use devices (SUD) by approved reprocessors, to save costs and reduce medical waste. Reprocessed single-use medical devices are as safe and effective as original medical equipment, but with greater affordability. The use of re-processed SUDs also results in the reduction of costs associated with special handling and waste management of devices. Healthcare facilities not only save 50% for every reprocessed SUD they purchase and spend less on medical disposal, but they also save money when original equipment manufacturers (OEMs) lower their prices to compete with third-party re-processors, thus, lowering the overall cost of healthcare. Along with cost reduction, it also results in environmental sustainability. SUD reprocessing is one of the top healthcare supply chain strategies used to reduce cost and optimize resources. According to the Association of Medical Device Reprocessors (AMDR), third-party reprocessing offers healthcare providers a way to maintain the highest-quality patient care while also achieving significant cost-savings. As per the AMDR study, more than 3,000 hospitals in the United States purchased re-processed SUDs. Some hospitals save more than USD 600,000, annually, through the use of reprocessed SUDs. SUD reprocessing helped few healthcare organizations achieve an annual savings of more than USD 12,500 per operating rooms (ORs), which are one of the leading contributors to a health system’s medical waste and supply chain expenditure. On an average, re-processed catheters cost approximately 450 euro whereas original ones cost 1190 euro. A savings of approximately 700 euro for a single reprocessed catheter results in a savings potential of 692 million euro in Germany and Europe wide savings of 2443 million euro for a single reprocessed device. This could result in significant savings in healthcare cost which is expected to drive the global single-use medical device reprocessing market.
Potential of Material Alteration and Cross Infection with Reprocessed Device hinder the growth of Single-use Medical Device Reprocessing Market
The process of making single-use device reusable generally requires high temperature, pressure or chemical agents. Exposure to chemical agents, such as cleaning agents, may cause corrosion or changes in the properties of materials of the device. Exposure to elevated temperatures or pressure during the sterilization process may also alter the properties or cause degradation of the device material. For example, plastics may soften, crack or become brittle. The cross-infection is a serious threat limiting the growth of the market. Reprocessing a SUD may compromise its intended function, or alter its characteristics so that it no longer complies with the original manufacturer’s specifications. The SUD may not be designed to allow decontamination, and re-sterilization, thus allowing the potential for cross-infection. The risk of cross-infection may increase due to the inability of the reprocessing system to completely remove viable microorganisms. This may be due to design or material issue. As new device manufacturers are not in favor of reprocessing, this complexity may worsen. The American public has expressed increasing concern regarding the risk of infection and injury when reusing medical devices intended and labelled for single use. There are reports showing that patients were at risk of serious infection from reusable devices, notably complex semiflexible and flexible endoscopes that may have been inadequately cleaned, sterilized, or disinfected. Therefore the fear of infection, mistrust, and lack of awareness of the safe use of reprocessed SUDs that cause some patients to react negatively is hindering the growth of this market.
Market Segmentation Insights for the Single-use Medical Device Reprocessing Market
Based on the basis of device type the market is segmented into Class I and Class II. The Class I includes Sequential Compression Sleeves, Tourniquet Cuffs, Pulse Oximeter Sensors and others. Others has the largest share in the market which include devices like intraoral drill, bur, microsurgical argon fiber optic laser cable, microsurgical carbon-dioxide fiber optic laser cable, nonelectrical snare, disposable medical scissors and gloves, irrigating syringe, surgical gowns, blood lancet, umbilical scissors, phacofragmentation unit, saw blades, biopsy brush and laser fiber delivery systems. Recently, laser technology and fiber optic laser cables have experienced major growth due to their high precision, flexibility, and productivity compared to other traditional approaches. In addition, Rising awareness related to hygiene and increasing number of surgical procedures globally are boosting the market for disposable scissors, gloves and surgical gowns.
Based on the Class II devices, the market is dominated by the other segment which includes a pressure infusion bag. These have a cost-effective design that can be thoroughly cleaned instead of discarded and they have decreased the infusion time required to deliver blood. However, Scissors is growing rapidly with a CAGR of 15.33% during the forecast period.
North America to Dominate the Single-use Medical Device Reprocessing Market Growth
North America accounted for the largest market, accounting for around 42% of the global market share and is expected to witness a high CAGR of 19% over the forecast period. North America is followed by Europe, which is the next leading region witnessing a CAGR of 6.11% in the global molecular diagnostics market. The single-use medical device reprocessing market is growing in Asia-Pacific and the reuse of single-use devices in most part of Asia is common, particularly for injection needles. For the most part, there are no national regulations governing reuse of SUDs and, thus, third-party reprocessors do not offer their services in Asia.
Key Developments in the Market
- May 2018- Sharp HealthCare Signs Medical-Surgical Distribution Agreement with Medline
- Jan 2017- Ethicon Endo-Surgery, Inc. had acquired the Megadyne Medical Products, Inc.
Major Players -Suretek medical, Medline renewal, Renu medical, Nescientific inc, Sterilmed inc (Johnson & Johnson Subsidiary), SteriPro, Stryker and Vanguard AG among others.
Reasons to Purchase the Report
- Current and future of single-use medical device reprocessing market outlook in the developed and emerging markets
- Analysis of various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the market estimate sheet (in Excel)
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