The South America single-use medical device reprocessing market was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 4.5% during 2023–2031. The growth of the market is attributed to the rising clinical urgency to minimize the generation of medical waste in healthcare settings.
Single-use medical device (SUD) reprocessing is cleaning, disinfection, inspection, sterilization, and repackaging of used medical devices for its re-use, and to diagnose and treat multiple patients. Reprocessed single-use medical devices is safe and effective as original medical equipment, and costs less than the same.
The use of reprocessed devices result in reduction of costs, which are associated with special handling and waste management of devices. The reuse and reprocessing of SUDs have implemented by hospitals since the late 1970s for preserving the environment and its economical nature.
Glass and metal is mainly used and heavily sanitised before reusing for other purposes. Conversely, the increasing use of plastic materials has further proliferated the use of SUDs.
Most SUDs includes needles, syringes and bandages that are in direct contact with human flesh or blood that are indeed for single-use only. On the other hand, complex SUDs, which include pacemakers that are commonly used in surgical procedures, are often reprocessed as an economic benefit for the hospitals.
Healthcare facilities not only save 50% for every reprocessed SUD they purchase, but also spend less on medical disposal. Moreover, healthcare facilities also save money when original equipment manufacturers (OEMs) lower their prices to compete with third-party re-processors, thus lowering the overall cost of healthcare. This factor also results in environmental sustainability.
Market Trends, Drivers, Restraints, and Opportunities:
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Growing focus on medical waste minimization is expected to boost the market growth.
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Increasing awareness about the benefits of SUDs such as cost-effectiveness is anticipated to propel the market growth.
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Rising focus on the environmental sustainability is expected to positively impact the market growth.
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The practice of SUDs reprocessing is unregulated due to the scarcity of guidance, which can hinder the market.
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Ongoing development of SUD reprocessing facilities in emerging markets can create opportunity for the market during forecast period.
Scope of South America Single-use Medical Device Reprocessing Market Report
The report on the South America single-use medical device reprocessing market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Single-use Medical Device Reprocessing Market - South America Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Devices (Class I Devices [Laparoscopic Graspers, Scalpels, Tourniquet Cuffs, And Others], Class II Devices [Pulse Oximeter Sensors, Sequential Compression Sleeves, Catheters And Guidewires, And Others])
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Geographic Scope
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Argentina, Brazil, Venezuela, and Rest of South America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Hygia, Medline ReNewal, NEScientific, ReNu Medical, SterilMed, Stryker Corporation, SureTek Medical, Medline Industries, Inc , ReNu Medical, and Sterilmed Inc.
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South America Single-use Medical Device Reprocessing Market Segment Insights
Sequential Compression Sleeves to dominant a market share
Based on devices, the global market is segmented into Class I Devices and Class II Devices. The class I devices is further divided into laparoscopic graspers, scalpels, tourniquet cuffs, and others. The class II devices is sub-segmented into pulse oximeter sensors, sequential compression sleeves, catheters and guidewires, and others.
Sequential compression sleeves are designed to increase venous blood flow in patients with deep vein thrombosis and pulmonary embolism. They are reusable as they can withstand the necessary cleaning and sterilization process. ?The quality of device and physical characteristics are not likely to be affected by reprocessing and the device remains safe.
Compression sleeves account for a major revenue in the class II devices segment. ?Stryker is the key provider of reprocessed compression sleeve devices. The company’s reprocessed compression devices are intended for preventing deep vein thrombosis, reducing post-operative pain and swelling, enhancing blood circulation, and reducing wound healing time.
The market in Brazil to exhibit a high CAGR
In terms of geographies, the market in segregated into Argentina, Brazil, Venezuela, and Rest of South America. The market in Brazil is anticipated to exhibit a high CAGR owing to increasing expenditure on the healthcare infrastructure. Moreover, rising prevalence of diseases and increasing investment of foreign companies are expected to proliferate the growth of the market in the country.
Segments
The South America single-use medical device reprocessing Market has been segmented on the basis of
Devices
- Class I
- Laparoscopic Graspers
- Scalpels
- Tourniquet Cuffs
- Others
- Class II
- Pulse Oximeter Sensors
- Sequential Compression Sleeves
- Catheters and Guidewires
- Others
Geographies
- Argentina
- Brazil
- Venezuela
- Rest of South America
Key Players
- Medline ReNewal
- Hygia
- NEScientific
- ReNu Medical
- Stryker Corporation
- SureTek Medical
- Medline Industries, Inc
- Sterilmed Inc.
Competitive Landscape
Key players operating in the South America single-use medical device reprocessing Market includes Hygia, Medline ReNewal, NEScientific, Stryker Corporation, SureTek Medical, Medline Industries, Inc, ReNu Medical, and Sterilmed Inc.
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