Published Date: 31-Aug-2022
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According to a new report, published by KBV research, The Global Medical Device Reprocessing Market size is expected to reach $4 billion by 2028, rising at a market growth of 13.7% CAGR during the forecast period.
The Reprocessed Medical Devices segment is showcasing a CAGR of 16.1% during (2022 - 2028). The growth of the segment is expediting due to the fact that using already reprocessed devices saves a lot of time for the practitioner. Moreover, another advantage of reprocessed medical devices is that they can be directly purchased and put into employment due to their ready-made feature.
The Critical Devices segment acquired maximum revenue share in the Global Medical Device Reprocessing Market by Device Category in 2021 thereby, achieving a market value of $2.3 billion by 2028. Increasing rates of cardiac disorders and their diagnosis across the world, together with an increase in the use of reprocessed catheters as a way to cut down on hospital and procedure costs, have all contributed to the market's expansion.
The General Surgery & Anesthesia segment has shown the growth rate of 14.6% during (2022 - 2028). The rapid rise in the growth of the segment is owing to the advancement of the healthcare infrastructure all over the world. Due to this, more people are becoming able to undergo a number of required surgeries, such as cosmetic surgery. Therefore, this factor is accelerating the growth of this segment of the market.
The North America market dominated the Global Medical Device Reprocessing Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.5 billion by 2028. The Europe market is exhibiting a CAGR of 13.5% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 14.5% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Stryker Corporation, Johnson & Johnson, Medline Industries, Inc. (Centurion Medical Products Corporation), Medtronic PLC, Steris Healthcare, Arjo Group (ReNu Medical, Inc.), Cardinal Health, Inc. (Sustainable Technologies), Avante Health Solutions, Konoike Group, and Vanguard AG.
By Device Category
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