South America Single-Use Medical Device Reprocessing Market Size

South America Single-Use Medical Device Reprocessing Market Analysis

The South America Single-Use Medical Device reprocessing market is anticipated to grow at a CAGR of 4.5% over the forecast period.

COVID-19 had a significant impact on the growth of the market during the pandemic period. The increasing amount of medical waste generated during the COVID-19 outbreak has become a considerable concern worldwide. For instance, according to the data published by WHO in February 2022, tonnes of extra medical waste from the response to the COVID-19 pandemic has put tremendous strain on healthcare waste management systems worldwide. Thus, to overcome such circumstances, the demand for single-use medical device reprocessing increased, contributing to the market's growth during the pandemic. In addition, to maintain sustainable waste management systems even during the post-pandemic situation, the demand for single-use medical device reprocessing is expected to be on the rise, thereby boosting the growth of the studied market over the coming five years.

Rising clinical urgency to minimize medical waste generation in healthcare settings and hospitals is among the key factors driving the market growth. As per the BMC article published in April 2020, Brazil Permits reprocessing of single-use medical devices used for many intervention procedures. The article also mentioned that the lack of essential guidance on how to carry out the practice is urgent in need. Such favorable government permits and the need for guidance are expected to drive the demand for single-use medical device reprocessing, thereby contributing to market growth over the forecast period.

The use of reprocessed single-use medicals also reduces costs associated with special handling and waste management of devices. Healthcare facilities save 50% for every reprocessed Single-use medical device they purchase and spend less on medical disposal. They also save money when the original equipment manufacturers (OEMs) lower their prices to compete with third-party reprocessors, thus reducing the overall cost of healthcare.

Along with cost reduction, it also results in environmental sustainability. Single-use medical device reprocessing is a top healthcare supply chain strategy to reduce costs and optimize resources. The factors above are anticipated to contribute towards industrial development in the immediate future. However, the lack of dedicated Single-use device reprocessing facilities in South American markets is currently a massive opportunity for this market. In contrast, the unauthorized overuse of reprocessed Single-use medical devices in emerging markets is currently the major challenge faced by this market.