The Asia-Pacific single-use medical devices reprocessing market has been estimated to register a CAGR of 5.0% during the forecast period of 2018–2023. Single-use device (SUD) reprocessing includes cleaning, disinfection, and sterilization. It helps hospitals to maintain patient care quality, while saving substantial amounts of money. With the high rate of privatization in hospitals of India, there is the rise in the guidelines being considered for reprocessed SUDs, helping in the high growth of this market in the country.
Cost Savings through Reprocessing of Single-use Devices
The lowering of the overall cost of healthcare through the reprocessing of single-use devices is the primary factor driving this market. The process has been rationalized and legislated in Japan. In India, 80% of the healthcare is provided by the private sector. There are certain policies being used by the private sector, which helps diminish the financial burden substantially and reduces the overall economic burden through reduced medical bills generated for the patient. In the past decade, an increased use of reprocessed single-use devices has been observed in the emerging markets, which are likely to drive the growth of the single-use medical device reprocessing market.
Other major factors responsible are the rising significance of medical waste minimization and positive effects on environmental sustainability.
Poor Regulation of SUD Reprocessing in Emerging Markets
The FDA defines reusable medical devices as those “devices that health care providers can reprocess and reuse on multiple patients.” The poor regulations regarding the SUD reprocessing in emerging markets is the major obstacle for the growth of SUD reprocessing market in the developing countries. According to Seth GS Medical College in Mumbai, India, the absence of protection from the legal liabilities and litigations for reusing disposable items due to lack of guidelines and norms, prevents the reuse of the devices marked as SUDs. Further, the practice of SUDs reprocessing is unregulated due to the scarcity of guidance from the regulatory authorities in India. Another factor impeding this market is the preconceived notion regarding the quality of reprocessed SUDs.
Japan Expected to Dominate the Market
Japan is expected to have the largest share of reprocessed SUDs market. The reprocessing of single-use devices is very common in the country with more than 80% of the hospitals being involved in this business. The continuous growth in the economic state of the country with high healthcare expenditure, effective utilization of resources and, functional and sterility assurance drives the growth of the market in Japan.
The major players include Centurion Medical Products, Hygia, Johnson & Johnson, Medline Industries, Inc., NEScientific, Inc., ReNu Medical, Stryker, and VanGuard AG, among others.
Reasons to Purchase the Report
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- Examining the various perspectives of the market with the help of Porter’s Five Forces Analysis
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- Identify the regions that are expected to witness the fastest growth during the forecast period.
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1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Products and Services
5.2.5 Competitive Rivalry within the Industry
6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
6.1.1 Rising Significance of Medical Waste Minimization
6.1.2 Reprocessing Single-use Devices Results in Environment Sustainability
6.1.3 Cost Saving through Reprocessing Single-use Devices
6.2.1 Poor Regulation of SUD Reprocessing in Emerging Markets
6.2.2 Preconceived Notion regarding the Quality of Reprocessed Single-use Medical Devices
6.4 Key Challenges
7. Market Segmentation
7.1 By Devices Type
7.1.1 Class I Devices
22.214.171.124 Sequential Compression Sleeves
126.96.36.199 Tourniquet Cuffs
188.8.131.52 Pulse Oximeter Sensors
7.1.2 Class II Devices
184.108.40.206 Cautery Electrodes
220.127.116.11 Laparoscopic Graspers
18.104.22.168 Orthopedic Blades
22.214.171.124 Drill Bits
126.96.36.199 External Fixation Clamps
188.8.131.52 Electrophysiological Cardiac Catheters
7.2 By Geography
7.2.5 South Korea
7.2.6 Rest of Asia-Pacific
8. Competitive Landscape
8.1 Mergers & Acquisition Analysis
8.2 Agreements, Collaborations, and Partnerships
8.3 New Products Launches
9. Key Players
9.1 Centurion Medical Products
9.3 Johnson & Johnson
9.4 Medline Industries, Inc.
9.5 NEScientific, Inc.
9.6 ReNu Medical
9.8 VanGaurd AG
*List not Exhaustive
10. Future of the Market