Market Size of South America Single-Use Medical Device Reprocessing Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
South America Single-Use Medical Device Reprocessing Market Analysis
The South America Single-Use Medical Device reprocessing market is anticipated to grow at a CAGR of 4.5% over the forecast period.
COVID-19 had a significant impact on the growth of the market during the pandemic period. The increasing amount of medical waste generated during the COVID-19 outbreak has become a considerable concern worldwide. For instance, according to the data published by WHO in February 2022, tonnes of extra medical waste from the response to the COVID-19 pandemic has put tremendous strain on healthcare waste management systems worldwide. Thus, to overcome such circumstances, the demand for single-use medical device reprocessing increased, contributing to the market's growth during the pandemic. In addition, to maintain sustainable waste management systems even during the post-pandemic situation, the demand for single-use medical device reprocessing is expected to be on the rise, thereby boosting the growth of the studied market over the coming five years.
Rising clinical urgency to minimize medical waste generation in healthcare settings and hospitals is among the key factors driving the market growth. As per the BMC article published in April 2020, Brazil Permits reprocessing of single-use medical devices used for many intervention procedures. The article also mentioned that the lack of essential guidance on how to carry out the practice is urgent in need. Such favorable government permits and the need for guidance are expected to drive the demand for single-use medical device reprocessing, thereby contributing to market growth over the forecast period.
The use of reprocessed single-use medicals also reduces costs associated with special handling and waste management of devices. Healthcare facilities save 50% for every reprocessed Single-use medical device they purchase and spend less on medical disposal. They also save money when the original equipment manufacturers (OEMs) lower their prices to compete with third-party reprocessors, thus reducing the overall cost of healthcare.
Along with cost reduction, it also results in environmental sustainability. Single-use medical device reprocessing is a top healthcare supply chain strategy to reduce costs and optimize resources. The factors above are anticipated to contribute towards industrial development in the immediate future. However, the lack of dedicated Single-use device reprocessing facilities in South American markets is currently a massive opportunity for this market. In contrast, the unauthorized overuse of reprocessed Single-use medical devices in emerging markets is currently the major challenge faced by this market.
South America Single-Use Medical Device Reprocessing Industry Segmentation
As per the scope of the report, single-use device (SUD) reprocessing includes cleaning, disinfection, and sterilization, as well as testing and restoring the technical and functional safety of the used device. Reprocessing of SUDs makes it possible for hospitals to maintain patient care quality while saving substantial amounts of money. The South America Single-Use Medical Device Reprocessing Market is segmented by Device (Class I Devices (Laparoscopic Graspers, Scalpels, Tourniquet Cuffs Other Class I Devices), Class II Devices (Pulse Oximeter Sensors, Sequential Compression Sleeves, Catheters, and Guidewires and Other Class II Devices)) and Geography (Brazil, Argentina and Rest of South America). The report offers the value (in USD million) for the above segments.
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South America Single-Use Medical Device Reprocessing Market Size Summary
The South America Single-Use Medical Device Reprocessing Market is poised for growth, driven by the increasing need to manage medical waste sustainably and cost-effectively. The COVID-19 pandemic highlighted the challenges of medical waste management, prompting a surge in demand for reprocessing single-use devices. This trend is expected to continue as healthcare facilities seek to minimize waste and reduce costs associated with medical disposal. Government initiatives, such as Brazil's permit for reprocessing single-use devices, further support market expansion. The reprocessing of these devices not only cuts costs but also contributes to environmental sustainability, making it a strategic focus for healthcare supply chains in the region.
Brazil is a key player in this market, largely due to the high prevalence of cardiovascular diseases necessitating the use of single-use medical devices. The demand for reprocessed devices is bolstered by the economic burden of these diseases and the rising costs of new instruments. The market is moderately competitive, with major players like Hygia, Medline Renewal, and SterilMed leading the charge. Regulatory developments, such as the launch of global standards for device reprocessing, are expected to enhance market dynamics. Despite challenges like unauthorized overuse, the lack of dedicated reprocessing facilities presents significant opportunities for growth in South America.
South America Single-Use Medical Device Reprocessing Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Cost Savings Through Reprocessing Single-use Devices
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1.2.2 Regulatory Pressure to Reduce Volume of Medical Waste
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1.3 Market Restraints
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1.3.1 Potential of Material Alteration and Cross Infection with Reprocessed Device
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1.3.2 Preconceived Notions Regarding the Quality of Reprocessed Single-use Medical Devices (SUDs)
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Device Type
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2.1.1 Class I Devices
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2.1.1.1 Laparoscopic Graspers
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2.1.1.2 Scalpels
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2.1.1.3 Tourniquet Cuffs
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2.1.1.4 Other Class I Devices
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2.1.2 Class II Devices
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2.1.2.1 Pulse Oximeter Sensors
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2.1.2.2 Sequential Compression Sleeves
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2.1.2.3 Catheters and Guidewires
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2.1.2.4 Other Class II Devices
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2.2 Geography
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2.2.1 Brazil
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2.2.2 Argentina
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2.2.3 Rest of South America
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South America Single-Use Medical Device Reprocessing Market Size FAQs
What is the current South America Single-Use Medical Device Reprocessing Market size?
The South America Single-Use Medical Device Reprocessing Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)
Who are the key players in South America Single-Use Medical Device Reprocessing Market?
Stryker Corporation, SureTek Medical, Medline Industries, Inc, ReNu Medical and Sterilmed Inc. (Johnson & Johnson) are the major companies operating in the South America Single-Use Medical Device Reprocessing Market.
