Reprocessed medical device covered under this report including cardiology devices, gastroenterology devices, laparoscopy devices

SEATTLE, WASHINGTON, UNITED STATES, December 8, 2021 /EINPresswire.com/ -- Reprocessed medical device covered under this report including cardiology devices, gastroenterology devices, laparoscopy devices, ENT devices, orthopedic/arthroscopic devices and others that include devices such as pulse oximetry sensor and ultrasound catheters.

Statistics:

Australia reprocessed medical devices market is estimated to account for US$ 34.6 Mn in terms of value by the end of 2019.

Drivers

Rising number of hospital uptake of commercial medical device reprocessing is expected to drive growth of Australia reprocessed medical devices market during the forecast period. For instance, according to 20th Anniversary Report from Association of Medical Device Reprocessors, published din July 2019, hospital uptake of commercial medical device reprocessing doubled yearly for the last 20 years.

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Opportunities

Increasing focus on reducing medical waste is expected to offer lucrative growth opportunities for players in Australia reprocessed medical devices market.

Restraints

Material alteration during exposure to a device in an extreme environment is expected to slow the growth of the Australian medical device market. Exposure to certain chemical agents such as decontamination agents and chemical sterilants during reprocessing procedures can damage medical equipment. Residues from contaminated materials or chemicals, if absorbed, can cause chemical burns or cause sensitivity to patients.

Key Takeaways:

Australia reprocessed medical devices market was estimated at US$ 34.6 Mn in 2019 and is forecast to reach a value of US$ 119.7 Mn by 2027 at a CAGR of 17.5% between 2020 and 2027. Rising number of hospital uptake of commercial medical device reprocessing is expected to drive growth of Australia reprocessed medical devices market during the forecast period

Cardiology Devices segment held dominant position in Australia reprocessed medical devices market in 2019, accounting for 51.7% share in terms of value. Increasing prevalence of cardiovascular diseases is expected to assist the segment growth.

Market Trends

Sterile processing is expected to drive growth of Australia reprocessed medical devices market. Investment in staffing for central sterile departments staff is expected to reduce medical waste in the healthcare sector. Central sterile professionals can maximize their single use device reprocessing leading to significant saving.

Key players in Australia reprocessed medical devices market are focusing on adoption M&A strategies to expand their product portfolio. For instance, in 2018, the U.S.-based Arjo acquired ReNu Medical Inc., a company that specializes in green reprocessing for single use non-invasive medical devices.

Regulations

In Australia, a single used device is treated as a separate new medical device with a new manufacturer (organization, reusable) who is responsible for displaying conformity tests for reprocessed products.

The reprocessing organization must act in full compliance with the essential process and proper testing of the conformity of the reprocessed products.

Competitive Landscape

Key players dominating in Australia reprocessed medical devices market such as Stryker Sustainability Solutions, Inc., Hygia Health Services, Inc., Medline ReNewal, Cleanpart GmbH, ReNu Medical, Inc., NEScientific and SureTek Medical.

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Key Developments

Key players in Australia reprocessed medical devices market are focused on adopting partnership strategies to expand their product portfolio. For instance, in July 2019, Medline partnered and Greenhealth Exchange, a group purchasing consortium for health systems, for R&D of environmentally friendly medical products that eliminate well-known chemicals of concern

Segmentation

Australia Reprocessed Medical Devices Market, By Device:

Gastroenterology Devices

Laparoscopy Devices

Cardiology Devices

ENT Devices

Orthopedic/ Arthroscopic Devices

Others

Australia Reprocessed Medical Devices Market, By Classification:

Critical

Semi - Critical

Non - Critical

Australia Reprocessed Medical Devices Market, By End User:

Hospitals

Ambulatory Surgical Centers

Diagnostic Centers

Company Profiles

Hygia Health Services, Inc.

Cleanpart GmbH

ReNu Medical, Inc.

SureTek Medical

NEScientific

Medline ReNewal

Stryker Sustainability Solutions, Inc.

Company Overview

Product Portfolio

Key Highlights

Financial Overview

Strategies

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