Reprocessed Medical Devices Market to More Than Double by 2028

Reprocessed medical devices are expected to become more attractive in the next half-decade as healthcare costs continue to rise.

The global reprocessed medical devices market was valued at $2.05 billion in 2020 and is projected to rise 14.9 percent annually through 2028 to top $5.9 billion, according to Transparency Market Research data. The growth can be attributed to various factors, including cost savings, increasing demand to reduce medical waste, increasing incidences of cardiovascular disease, the world’s aging population, and developments in healthcare infrastructure. Furthermore, government initiatives to promote awareness about equipment reprocessing also are expected to open up significant commercial opportunities for device reprocessors in the coming years. 
 
North America is projected to hold a major market share during the projected period. Rising adoption of reprocessed medical devices and supportive regulatory frameworks is likely to give the United States an advantage in the North American market. The key growth driver in this region is increasing demand to minimize medical waste and the potential environmental impact from expanding trash landfills. The growing need to decrease healthcare costs as well as a paucity of facilities for appropriate waste disposal is expected to drive the North American market as well.
 
Another factor impacting the market’s growth is a rising preference among healthcare professionals to use single-use reprocessed devices (SUDs) to improve patient safety by minimizing infection risk. These products fulfill the same high standards as the original equipment, ensuring patient safety.

As the volume of cardiovascular surgeries and treatments grows, the demand for low-cost alternatives is also expected to grow. The emergence of low-cost, single-use reprocessed cardiovascular equipment has increased usage, which is likely to add to the market’s expansion through 2028. 
 
As per the Association of Medical Device Reprocessors (AMDR), employing reprocessed medical equipment can help a standard hospital save between $500,000 and $2 million annually. 

Technological breakthroughs and growing acceptance of innovative products are expected to drive the reprocessed medical devices market in Middle East & Africa, Latin America, and Asia Pacific
 
Key market competitors include Centurion Medical Products Corporation, Hygia Health Services Inc., Suretech Medical Inc., Philips Healthcare, LUMITOS AG, and Medline Industries Inc.