North America Is Expected To Account For Around 40% Of The Global Reprocessed Medical Devices Market Share By The End Of 2028

Increasing focus on healthcare in developing nations with less spending potential will see major adoption of reprocessed medical devices through 2028, says a Fact.MR analyst

Fact.MR A Market Research and Competitive Intelligence Provider: The reprocessed medical devices market stood at a valuation of US$ 2.05 Bn in 2020, and is projected to surge to US$ 5.9 Bn by the end of 2028.

Increasing healthcare expenditure owing to the rising patient pool is expected to bolster demand for reprocessed medical devices as healthcare institutions focus on lowering operational costs. Increasing geriatric population, favorable regulatory policies, and rising focus on healthcare are anticipated to be other trends propelling reprocessed medical devices market potential over the coming years.

Demand for reprocessed medical devices is anticipated to be high in developing economies where healthcare spending potential is less.

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Key reprocessed medical device suppliers are focusing on launching new and innovative products to advance medical device reprocessing procedures and increase revenue potential.

Key Takeaways from Market Study

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Winning Strategy

Reprocessed medical device manufacturers are focusing on mergers and acquisitions to expand their product portfolios and increase their sales. Favorable regulatory policies are also expected to promote reprocessed medical device suppliers to advance their sales potential and increase revenue.

Reprocessed medical device companies are investing in the development of better reprocessing facilities to meet increasing demand. Favorable government initiatives to boost the adoption of reusable medical devices are also expected to be capitalized on by key reprocessed medical devices market players over the forecast period.

Competitive Landscape:

Key reprocessed medical device market players are focusing on mergers and acquisitions to increase their business scope across the world and increase sales.

Key Segments Covered in Reprocessed Medical Devices Industry Research

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global reprocessed medical devices market, presenting historical demand data (2017-2020) and forecast statistics for the period of 2021-2028.

The study divulges essential insights on the market on the basis of device type (cardiovascular devices, general surgery devices, laparoscopic devices, orthopedic external fixation devices, gastroenterology biopsy forceps) and across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

Fact.MRs Domain Knowledge in Healthcare

Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

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Read more from the original source:
Increasing Healthcare Expenditure to Drive Sales of Reprocessed Medical Devices at 14.9% CAGR through 2028: Fact.MR Survey - BioSpace

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