Asia Pacific Reprocessed Medical Devices Market Insights – Growth & Forecast 2023-2033

Asia Pacific Reprocessed Medical Devices Market Outlook (2023 to 2033)

The net worth of the reprocessed medical devices market in the Asia Pacific region is expected to be USD 428.4 million in 2023. By 2033, the market is estimated to reach USD 1,639.4 million, expanding at a CAGR of 14.4% in the meantime.

Practitioners in the healthcare sector are exploring the idea of deploying medical devices that are composed of previously used or reprocessed medical devices. This approach is gaining extreme importance with the increasing amounts of medical debris, which is escalating at an alarming speed.

The Market is being Spearheaded by:

• Surging Healthcare Expenses: In the Asia Pacific region, healthcare expenses are increasing due to increasing chronic diseases, enhanced access to healthcare, and heightened aging population, etc. Since healthcare expenses are continuously increasing, healthcare providers are shifting toward reprocessed medical devices due to their cost-efficiency.
• Growing Concern for the Environment: Due to elevated levels of medical waste generation, healthcare services, nursing care units, and other healthcare bodies have started collecting, managing, and reprocessing their medical devices. Even the public and private sectors have begun acquiring and recycling reusable medical devices.
• Strict Regulatory Guidelines: Reprocessed medical devices have to comply with strict regulatory guidelines to warrant patient safety. Regulatory authorities like the Food and Drug Administration (FDA) in different countries have established some guidelines. To maintain the quality standards of reprocessed medical devices.
• Heightened Cooperation of Healthcare Providers with Reprocessed Companies: Several healthcare providers are partnering and collaborating with reprocessing firms to put in place efficient and secure reprocessing practices. Such initiatives assist in streamlining the reprocessing process and ascertain the presence of superior quality reprocessed medical devices.

Market Growth is Challenged by:

• Low Cognizance and Skepticism: Despite the research and study about the use of reprocessed medical devices, some healthcare providers are wary about their efficiency and safety. Thus, low awareness and reservations related to these devices are projected to limit the widespread adoption of reprocessed medical devices in the Asia Pacific.
• Strict Regulatory Measures: Reprocessed medical devices have to adhere to strict regulatory compliances before their commercial availability. Adherence to these regulations can be difficult for reprocessing firms, resulting in surged costs and product delays.
• Concerns over Quality: Consistent quality of all the reprocessed devices is a long-standing challenge for the reprocessed medical device providers.
• Intense Competition from Emerging Devices: The market is highly competitive, observing innovations and continuous advancements. Healthcare practitioners may prefer new devices instead of reprocessed ones owing to the widespread perception of high quality and technological upgrades.

Abounding Opportunities for Manufacturers:

• Vast Untapped Market Potential: Within Asia Pacific, many markets are holding massive potential for the growth of the reprocessed medical devices industry. Countries, especially with booming healthcare infrastructure and emerging healthcare sector offer opportunities to key leaders to widen their presence.
• New Partnerships and Collaborations: Constant collaborations and partnerships are expected to boost the acceptance of reprocessed medical devices in the region. This can be attributed to the promotion of knowledge sharing, standardized reprocessing practices, and quality control through such practices.
• Research and Development Activities: Key players are investing and developing enhanced reprocessing processes to develop advanced devices. Upgradations in reprocessing technologies present opportunities for the betterment and innovation of reprocessed medical devices.
• Supportive Reimbursement Policies: Governments and insurance agencies incentivize the usage of reprocessed medical devices via supportive reimbursement policies. Reimbursements for these devices can propel their acceptance in the healthcare industry.

Attributes	Details
Asia Pacific Reprocessed Medical Devices Market Size (2022)	USD 381.8 million
Asia Pacific Reprocessed Medical Devices Market Size (2023)	USD 428.4 million
Asia Pacific Reprocessed Medical Devices Market Projected Size (2033)	USD 1,639.4 million
Value CAGR (2023 to 2033)	14.4%
Value CAGR (2018 to 2022)	10.1%

Forecast Analysis of Asia Pacific Reprocessed Medical Devices Market vs Historical Outlook

In the historical timeframe, the market observed a market valuation of USD 381.8 million in 2022. Within the historical period, the market expanded at a CAGR of 10.1%.

Surge in the medical waste resulted in the adoption of reprocessed medical devices. Since its inception, reprocessed medical devices have been rising in developed as well as developing economies. Their heightened utilization is driven by factors like government initiatives to diminish waste generation from medical devices and escalating development of reprocessed devices and services.

Over the forecast period, the market is projected to be driven by increasing awareness pertaining to sustainable healthcare practices. Exploration of new markets and strategies to boost automated pharmaceutical workflow and encourage medical device reprocessing systems are projected to aid market growth.

Heightened focus on the reduction of emissions related to the use of medical devices is projected to augment the Asia Pacific market for reprocessed medical devices. Take for example, in January 2021, researchers from the environmental safety division of Fraunhofer-Gesellschaft announced that by deploying a reprocessed medical catheter as a substitute, global warming impact was reduced by 50.4%.

From 2023 to 2033, the market is projected to register a CAGR of 14.4%. In 2023, the market is anticipated to reach USD 428.4 million, and by 2033, the market is projected to attain USD 1,639.4 million.

Regional Analysis of Asia Pacific Reprocessed Medical Devices Market

Country	Australia
Value Share % (2022)	11.7%
Forecast CAGR % (2023 to 2033)	14.2%

Country	New Zealand
Value Share % (2022)	2.8%
Forecast CAGR % (2023 to 2033)	12.9%

Country	China
Value Share % (2022)	18.9%
Forecast CAGR % (2023 to 2033)	18.8%

Country	India
Value Share % (2022)	12.5%
Forecast CAGR % (2023 to 2033)	18%

Country	South East Asia
Value Share % (2022)	15.3%
Forecast CAGR % (2023 to 2033)	14.8%

Country	Japan
Value Share % (2022)	29.4%
Forecast CAGR % (2023 to 2033)	11.9%

Japan to Account for a Substantial Market Share in the Asia Pacific Market

Japan has acquired a massive share of 29.4% in the Asia Pacific reprocessed medical devices industry. Due to its high maturity levels in the market, the Japan market is projected to assume a comparatively low CAGR over the forecast period, i.e., 11.9%. The market growth in the country can be attributed to the focused concentration on technical advances. Additionally, the established healthcare infrastructure in Japan is also giving impetus to market growth. Environmental considerations and cost-saving measures by the Japanese government are also fueling the adoption of reprocessed medical devices.

China to Register a Significant Growth Rate in the Coming Years

Following Japan, China holds a significant portion of the market. In 2022, China reprocessed medical devices industry gained an 18.9% market share. Over the forecast period, the China market is projected to leap at a CAGR of 18.8%. The market is driven by:

• Escalating healthcare expenditure
• A surge in government initiatives
• Growing awareness about the sustainable healthcare practices

Governmental Support in South East Asia to Propel Market Growth

South East Asia obtained a 15.3% market share in 2022. In the assessment period, South East Asia is projected to expand at a CAGR of 14.8%. The market is being driven by the complex healthcare infrastructure. Moreover, the governmental encouragement for sustainable healthcare practices to develop a supportive environment for the adoption of reprocessed medical instruments is also projected to boost the market growth.

Increasing Demand for Cost-effective Healthcare Solutions in India to Boost Market Growth

The India reprocessed medical devices industry displayed a market share of 12.5% value share in 2022. Over the foreseeing years, the market is projected to expand at 18% CAGR. The propelling healthcare sector in the country offers several opportunities for the acceptance of reprocessed medical devices. The large population in India, surging cognizance about cost-effective healthcare solutions, and increasing healthcare expenditure are all projected to expand the Indian market.

Cost Reduction in Healthcare Drives in Australia to Push Market Growth

Australia acquired an 11.7% value share in 2022. In the review period, the market is anticipated to expand at 14.2% CAGR. The market is propelled by:

• Increasing adoption of reprocessed medical devices due to the well-established healthcare system.
• Increasing focus on cost containment and sustainability in healthcare drives is increasing the adoption of reprocessed devices.

Category-wise Analysis

Cardiology Devices to Gain an Attractive Value Share in the Coming Years

Segment	Cardiology Devices
Market Share (2022)	59.52%

Based on devices, cardiology devices gained a value share of 59.52% in the Asia Pacific reprocessed medical devices industry in 2022. Increasing cases of cardiovascular conditions are increasing the demand for cardiology devices like catheters, pacemakers, defibrillators, etc. Reprocessing these devices minimizes the costs and ascertains the presence of these life-saving equipment for patients in need.

Hospitals to Obtain Large Market Share in the Upcoming Years

Segment	Hospitals
Market Share (2022)	53.64%

Hospitals gained a 53.64% market share in 2022. Hospitals are expected to observe a high adoption rate of reprocessed medical devices owing to surging hospital expenses. In addition to this, supportive government policies for these devices are also projected to have a positive impact on the segment growth.

Key Strategies Employed by Key Leaders in the Market

Companies providing reprocessed medical devices are coming into joint ventures, collaborations, and other strategies, to enhance their market share. This also offers the advantage of improving their offering for reprocessed medical devices.

Market leaders are witnessing organic as well as inorganic activities to expand their growth in the market. For example, Medline Industries reported in July 2021 that its Medline ReNewal division of medical device reprocessing attained a new milestone by successfully gaining 5.3 million medical devices for reprocessing. This diverted above one million pounds of waste from landfills and avoided around 1,500 metric tons of carbon dioxide from being released into the air. Such initiatives assisted the company in efficiently reducing medical waste.

Several firms acquired or partnered with other firms to efficiently manage expenses and enhance the quality of the deliverables. For example, Innovative Health collaborated with Acutus Medical in October 2019 to offer advanced electrophysiology (EP) technology to enhance patient outcomes in a cost-efficient manner. With this partnership, both companies delivered healthcare providers an entire array of EP products, consisting of a broad portfolio of reprocessed EP devices.

Previously, in September 2018, Vanguard acquired Pioneer Medical Devices AG to improve its medical device reprocessing services. This assisted the corporation in broadening its product portfolio.

Key Players

• Stryker Sustainability Solutions, Inc.
• Medline ReNewal
• Hygia Health Services, Inc.
• Cleanpart GmbH
• ReNu Medical, Inc.
• SureTek Medical
• NEScientific
• Others

Scope Of the Asia Pacific Reprocessed Medical Devices Market Report

Attribute	Details
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	USD million for Value and MT for Volume
Region Covered	Asia Pacific
Key Countries Covered	China, Japan, Australia, India, South East Asia, New Zealand, The Rest of the Asia Pacific
Key Segments Covered	Product Type, Classification, Reprocessing Method, End User, and Countries
Key Companies Profiled	Stryker Sustainability Solutions, Inc.; Medline ReNewal; Hygia Health Services, Inc.; Cleanpart GmbH; ReNu Medical, Inc.; SureTek Medical; NEScientific; Others
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing	Available upon Request

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
• 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type
  • 5.1. Gastroenterology Devices
  • 5.2. Cardiology Devices
  • 5.3. Laparoscopy Devices
  • 5.4. Orthopaedic/Arthroscopic Devices
  • 5.5. ENT Devices
  • 5.6. Others
    • 5.6.1. Pulse Oximetry Sensors
    • 5.6.2. Ultrasound Catheters
• 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Classification
  • 6.1. Critical
  • 6.2. Semi-Critical
  • 6.3. Non-Critical
• 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Reprocessing Method
  • 7.1. In-House
  • 7.2. Third Party Assisted
  • 7.3. Non-Compliant Reprocessors
• 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User
  • 8.1. Hospitals
  • 8.2. Diagnostic Centres
  • 8.3. Ambulatory Surgical Centres
• 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
  • 9.1. North America
  • 9.2. Latin America
  • 9.3. Europe
  • 9.4. Asia Pacific
  • 9.5. MEA
• 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
• 15. Key Countries Market Analysis
• 16. Market Structure Analysis
• 17. Competition Analysis
  • 17.1. Stryker Corporation
  • 17.2. Medline Industries, Inc.
  • 17.3. Johnson & Johnson (Ethicon)
  • 17.4. Medtronic plc
  • 17.5. Sterilmed, Inc. (a part of Johnson & Johnson)
  • 17.6. Centurion Medical Products Corporation
  • 17.7. Vanguard AG
  • 17.8. ReNu Medical Inc.
  • 17.9. SureTek Medical
  • 17.10. Centurion Systems Pty Ltd.
• 18. Assumptions & Acronyms Used
• 19. Research Methodology