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Asia-Pacific Reprocessed Medical Devices Market Will Hit at a CAGR of 15.7% by 2017 to 2027

Availability of reprocessed medical devices at low prices, coupled with assurance of qualitative production, has also prompted the marketís growth to a considerable extent. According to recent report by ĎFuture Market Insightsí on the reprocessed medical devices market in Asia-Pacific region projects that in 2017 and beyond, Japan, China and Southeast Asia will collectively account for more than 60% share of overall market revenues. It estimates that reprocessed medical devices market in Asia-Pacific is presently valued at US$ 236.9 Mn. In a ten-year forecast period, the market is being projected to expand at 15.7% CAGR and bring in a little over US$ 1 Bn by the end of 2027.

Rising focus of government authorities towards dumping of medical waste or biowaste is slated to promote the reprocessing of medical devices. Manufacturers of medical devices are continuously striving to control their product costs for recording greater sales. Reprocessed medical devices, thus, become the most feasible option for both, manufacturers and end-users. Availability of reprocessed medical devices at low prices, coupled with assurance of qualitative production, has also prompted the marketís growth to a considerable extent.

The report reveals that in 2016, more than US$ 100 Mn worth of reprocessed medical devices turned out to be used in the field of cardiology. Demand for reprocessed cardiology devices is expected to continue surging in the years to come, registering the highest revenue CAGR of 18.4%. Reprocessing will also gain traction among laparoscopic tools & devices, revenues from which are predicted to reach US$ 111 Mn by 2027-end. Meanwhile, orthopedic or arthroscopic devices, gastroenterology devices, ENT devices and other such medical devices will be showcasing a comparatively steady growth in terms of revenues.

By the end of 2027, one of every two reprocessed medical devices sold in Asia-Pacific will be classified under semi critical medical devices. This indicates that demand for reprocessing is higher for semi-critical medical devices, as opposed to critical or non-critical medical devices. The most prominent method of reprocessing medical devices, observed across Asia-Pacific, is likely to be third-party reprocessing. Third parties assisting drug makers in reprocessing businesses is serving as a consolidator for Asia-Pacificís reprocessed medical devices market.

The hospitals are identified as the largest end-user of reprocessed medical devices in Asia-Pacific. Similarly, diagnostic centers and ASCís will also contribute significantly, by exhibiting revenues growth at more than 11% CAGR. Furthermore, the leading reprocessed medical device manufacturers partaking in the Asia-Pacific region are companies such as Stryker Sustainability, Medline ReNewal, Hygia Health Services, Inc., CLEANPART HEALTHCARE, ReNu Medical, Inc., SureTek Medical, and NEScientific.

(Ref.: http://www.crossroadstoday.com/story/35077832/asiapacific-reprocessed-medical-devices-market-will-hit-at-acagr-of-157-by-2017-to-2027)

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