The medical device reprocessing market is projected to reach USD 3.9 billion by 2027 from USD 2.0 billion in 2022, at a CAGR of 13.7% during the forecast period. Growth in the market is mainly driven by the growing need to minimize hospital costs and the rising geriatric population. However, the requirement to follow stringent regulatory procedures to enter the medical device reprocessing market may pose a threat to the market growth.

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The medical device reprocessing market is consolidated at the top with a large number of leading market players based in developed countries. The prominent players operating in this market include Stryker Corporation (US), Johnson Johnson (US), Vanguard AG (Germany), Medtronic PLC (Ireland), Steris Healthcare (US), Medline ReNewal (US), Innovative Health (US), Arjo Group (ReNu Medical, Inc.) (Sweden), SteriPro Canada, INC. (Canada), Northeast Scientific, INC. (US), Cardinal Health (Sustainable Technologies) (US), SureTek Medical (US), Konoike Group (Japan), Avante Health Solutions (US), Medsalv (New Zealand), and Vitruvia Medical AG (Switzerland). The major market players are increasingly focusing on increasing their presence in the market through expanding their service portfolio by acquiring small-medium sized players in the market, and focusing on receiving FDA approvals to launch new services.

Stryker Corporation (US) provides medical device reprocessing services and reprocessed medical devices through its Sustainability Solutions business, under the MedSurg Neurotechnology business division. The company focuses on expanding its service portfolio and geographic reach through acquisitions. For instance, in 2018, Stryker’s Sustainability Solutions division acquired Hygia Health Services. Hygia focused exclusively on reprocessing patient care single-use devices (SUDs) in the US.

The reprocessed support and services segment accounted for the largest share in 2021

Based on type, the medical device reprocessing market is segmented into reprocessing support services and reprocessed medical devices. In 2021, the reprocessed support services segment accounted for the largest share of this market. The rising number of surgical procedures associated with growing prevalence of chronic diseases is expected to increase the adoption of third party reprocessing services by healthcare facilities to reduce in-house reprocessing costs.

The critical devices segment is expected to have the highest CAGR during the forecast period

Based on the device type, the medical device reprocessing market is segmented into critical devices, semi-critical devices, and non-critical devices. Critical devices segment is expected to register the highest growth during the forecast period. The growth in this market is mainly driven by the increasing cardiac and electrophysiology (EP) procedures, leading to increased utilization of reprocessed electrophysiology, diagnostic, and cardiology catheters.

The cardiology segment is expected to register the highest growth during the forecast period

Based on application, the medical device reprocessing market is segmented into cardiology, gastroenterology, gynecology, arthroscopy and orthopedic surgery, general surgery anesthesia, and other applications (urology, non-invasive surgeries, and patient monitoring). The cardiology segment is expected to register the highest growth during the forecast period. This is mainly driven by the favorable approvals from FDA for reprocessing catheters due to rising cardiovascular diagnostic and surgical procedures across healthcare facilities.

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North America holds the largest share of the medical device reprocessing market

North America accounted for the largest share of the pharmacy automation market in 2021. Factors such as favorable US FDA approvals on reprocessing medical devices, growth in the healthcare sector, and the presence of top medical device reprocessing service providers in the US are expected to contribute to the growth of the market in North America.

The prominent players in the medical device reprocessing market are Stryker Corporation (US), Johnson Johnson (US), Vanguard AG (Germany), Medtronic PLC (Ireland), Steris Healthcare (US), Medline ReNewal (US), Innovative Health (US), Arjo Group (ReNu Medical, Inc.) (Sweden), SteriPro Canada, INC. (Canada), Northeast Scientific, INC. (US), Cardinal Health (Sustainable Technologies) (US), and  SureTek Medical(US).

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