Reprocessing is an important part of the medical device life cycle. Reprocessing of medical device is a process of cleaning, sterilizing, testing, remanufacturing, disinfecting, and wrapping as well as labelling of a used, expired, and undamaged medical device to make it patient-ready at a much-reduced cost. It is a special process or treatment in preparation for reuse of medical devices. Increasing hospital expenditures on medical devices and high amount of medical wastage is driving the growth of the market.
The growth of the market is attributed to rising importance of medical waste minimization and growing use of reprocessed single-use devices drive the market growth. However, the limitations of reprocessed medical devices and stringent regulatory requirements hampers the market growth.
Johnson and Johnson Services, Inc, Stryker Corporation –are Notable Market Players in Global Reprocessed Medical Devices Market
Market leaders operating in the market have undertaken various organic and inorganic growth strategies. The global reprocessed medical devices market majorly consists of players like Medline Industries, Inc.; Arjo Medical Devices; Stryker Corporation; Innovative Health; Teleflex Incorporated; Johnson and Johnson Services, Inc.; 3M; Currie Medical Specialities, Inc, STERIS plc, Vanguard AG, and Cardinal Health Inc among others.
Several in organic approaches, such as product launches, and expansion in the global reprocessed medical devices, have resulted in the growth of the market. Likewise, inorganic strategies such as mergers & acquisitions, and collaboration have helped the company to strengthen its revenue, which allows the company to hold a strong position in the market.
Below is the list of the growth strategies done by the players operating in the global reprocessed medical devices:
| Year | News |
| July-2021 | On July 2021, Medline Industries announced its Medline ReNewal medical device reprocessing division represented that they reached a new milestone after successfully collecting 5.3 million devices for reprocessing in 2020. This has diverted more than one million pounds of waste from the landfills and preventing the release of nearly 1,500 metric tons of carbon dioxide into the atmosphere. |
| July-2021 | On July 2021, Innovative Health announced several new initiatives to increase savings from single use device reprocessing in the electrophysiology lab. The company formed an emerging technologies team, which is charged with developing new reprocessing technologies that will help in enabling cost-savings, which will be applied on more devices, modalities and clinical areas. |
| Feb-2018 | On February 2019, Teleflex Incorporated’s subsidiary Northeast Scientific announced that that they will be closely managing all customer interaction for the delivery of its remanufactured VNUS ClosureFAST Catheters, RF Styles, remanufactured Philips Volcano IVUS diagnostic catheters and the products to the medical market. Company’s another subsidiary Vascular Solutions, has managed all the sales and customer service in the US for NES and helped to introduce NES remanufactured devices to more than 500 medical practices, which includes vein centers and OBLs (Office-based labs) across the country. |
| Jan-2021 | On Jan 2021, STERIS and Cantel Medical Corporation announced that they signed a definitive agreement to acquire Cantel, via US subsidiary. The company signed this agreement to expand its product portfolio by marketing various equipments which includes specialized medical device reprocessing systems for endoscopy and renal dialysis, advanced water purification equipment, sterilants, disinfectants and cleaners, and others. |
