Asia Pacific Reprocessed Medical Devices Market is set to reach US$ 1,639.4 Million, expanding at a CAGR of 14.4% during forecast 2033 end | Future Market Insights, Inc.

NEWARK, DE / ACCESSWIRE / June 4, 2023 / The Asia Pacific Reprocessed Medical Devices Market is forecast to expand at 14.4% CAGR over the estimated time, as per FMI's analysis. The industry's size is predicted to reach a market value of US$ 428.4 million in 2023 and US$ 1,639.4 million by 2033.

The Reprocessed Medical Devices industry in the Asia Pacific is projected to be led by Japan, which acquired the maximum market share in the historical period. Over the forecast period, this trend is anticipated to continue owing to surging adoption and high unmet medical demands in Japan.

In the Asia Pacific region, a surging focus on curbing medical waste is projected to be a key propellant in the market. For instance, more than two million tons of medical waste were generated in China in the year 2018, as per the statistics of the National Bureau of Statistics of China.

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Deployment of Reprocessed Medical Devices results in substantial savings in the healthcare sector, which is fueling the demand for these devices.

The lowered pricing of these products is projected to create lucrative growth prospects for market leaders. Consumers present in China, India, Malaysia, and Indonesia are price-sensitive. Within these countries, Reprocessed Medical Devices are retailed at about 50% of the price of a new device. As a result, medical devices with appropriate regulatory approval and low price are being adopted at a faster pace.

The invigorating distribution network is also fueling the market for Reprocessed Medical Devices in the Asia Pacific region. Additionally, increasing focus on investment in the region by the manufacturers of Reprocessed Medical Devices is projected to further the market development.

Top Highlights from FMI's Analysis:

• Japan acquired a 29.4% market share of the Asia Pacific Reprocessed Medical Devices in 2022. The country is projected to account for 11.9% CAGR over the forecast period.
• China follows Japan as the leader in the Asia Pacific market for Reprocessed Medical Devices in 2022, by acquiring an 18.9% value share in 2022.
• South East Asia gained a 15.3% value share in 2022. South East Asia is projected to register CAGR of 14.8% in the forecast period.
• India had the piece of 12.5% market share in the Asia Pacific Reprocessed Medical Devices in the year 2022.
• Australia had an 11.7% market share in 2022. The country is expected to expand at a CAGR of 14.2% over the upcoming years.
• New Zealand had a 2.8% value share in 2022. The country is projected to thrive at 12.9% CAGR over the forecast period.
• China and India are enjoying the most amount of growth in the market, expanding at 18.8% and 18% CAGRs, respectively.
• Based on devices, cardiology devices gained a market share of 59.2% value share in 2022.
• Based on the classification, the semi-critical segment acquired 46.17% market share in 2022.
• Under the reprocessing methods category, third party assisted section gained a 47.51% value share in 2022.
• Based on end users, the hospital segment acquired a 53.64% market share in 2022.

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Key Developments in this Market:

• Johnson & Johnson Services, Inc. officially declared that DePuy Synthes got the 510(k) clearance from the United States FDA for ATTUNE Total Knee System in January 2021. This VELYS Robotic-facilitated Solution also has clear indications for use. The sales of the product are projected to increase in the present as well as future to meet the surging demand in the market.
• Olympus Corporation unveiled that it introduced the OERElite Automatic Endoscope Reprocessor (AER) in October 2020. The product is designed to deploy AcecideC to clean and sterilize up to two endoscopes concurrently in 28 minutes.
• Cleanpart GmbH launched a quality management system for healthcare devices in April 2020.

Major Players:

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

Key Segments in this Market are as follows:

By Product Type:

• Gastroenterology Devices
• Cardiology Devices
• Laparoscopy Devices
• Orthopaedic/Arthroscopic Devices
• ENT Devices
• Others
  • Pulse Oximetry Sensors
  • Ultrasound Catheters

By Classification:

• Critical
• Semi-critical
• Non-critical

By Reprocessing Method:

• In House
• Third-party Assisted
• Non-compliant Reprocessors

By End User:

• Hospitals
• Diagnostic Centres
• Ambulatory Surgical Centres

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Table of Content (ToC):

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Scenario Forecast

3.2.1. Demand in Optimistic Scenario

3.2.2. Demand in Likely Scenario

3.2.3. Demand in Conservative Scenario

3.3. Opportunity Map Analysis

3.4. Product Life Cycle Analysis

3.5. Supply Chain Analysis

3.5.1. Supply Side Participants and Their Roles

3.5.1.1. Producers

3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)

3.5.1.3. Wholesalers and Distributors

3.5.2. Value Added and Value Created at Node in the Supply Chain

3.5.3. List of Raw Material Suppliers

3.5.4. List of Existing and Potential Buyers

3.6. Investment Feasibility Matrix

3.7. Value Chain Analysis

3.7.1. Profit Margin Analysis

3.7.2. Wholesalers and Distributors

3.7.3. Retailers

3.8. PESTLE and Porter's Analysis

3.9. Regulatory Landscape

3.9.1. By Key Regions

3.9.2. By Key Countries

3.10. Regional Parent Market Outlook

3.11. Production and Consumption Statistics

3.12. Import and Export Statistics

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022

4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033

4.2.1. Y-o-Y Growth Trend Analysis

4.2.2. Absolute $ Opportunity Analysis

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type

5.1. Introduction / Key Findings

5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product Type, 2018 to 2022

5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product Type, 2023 to 2033

5.3.1. Gastroenterology Devices

5.3.2. Cardiology Devices

5.3.3. Laparoscopy Devices

5.3.4. Orthopaedic/Arthroscopic Devices

5.3.5. ENT Devices

5.3.6. Others

5.3.6.1. Pulse Oximetry Sensors

5.3.6.2. Ultrasound Catheters

5.4. Y-o-Y Growth Trend Analysis By Product Type, 2018 to 2022

5.5. Absolute $ Opportunity Analysis By Product Type, 2023 to 2033

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