Reprocessed Medical Devices Market Recorded Strong Growth in 2019; COVID-19 Pandemic Set to Drop Sales
The expert analysts of Future Market Insights have examined the Asia Pacific reprocessed medical devices market in a new report titled “Reprocessed Medical Devices Market: Asia Pacific Industry Analysis and Opportunity Assessment, 2017–2027” for a period of 10 years. The report focusses on the reprocessed medical devices market in the Asia Pacific region where manufacturers are concentrating on the development of quality and cost-effective products. Our analysts have observed that the hospitals end user segment accounts for maximum revenue share in the overall Asia Pacific reprocessed medical devices market, followed by diagnostic centres. They have further noticed that cardiology devices are expected to hold a majority share in the Asia Pacific reprocessed medical devices market over the forecast period. While differentiating key player strategies we have found that reprocessed medical devices companies are more focussed towards innovation and commitment to R&D, enhancing their product portfolio and enhancing physician loyalty to expand their global presence through existing channels. As a result, global players are adopting mergers and acquisitions as the key development strategy to penetrate into the local market.
In terms of countries, Japan represents the most lucrative market, followed by China and South East Asia. The reprocessed medical devices market in Asia Pacific is expected to witness significant growth due to increasing awareness and an increasing shift towards a value-based healthcare model. Our analysts have studied the Asia Pacific reprocessed medical devices market and have come to a conclusion that distribution of reprocessed medical devices is done either through direct selling or through distributors. Detailed analysis of the value chain has been done where sorting of reprocessed medical devices takes place for isolated type of devices based on classification and reprocessing procedure. Reprocessing in this market is done by third party reprocessing companies, non-compliant reprocessors and in-house reprocessing facilities.
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Porter’s Five Forces model is the uniqueness of our report
Porter’s five forces model is based on the bargaining power of suppliers and buyers, the threat of substitutes and new entrants and competitive rivalry. We have leveraged this model to study and analyse the Asia Pacific reprocessed medical devices market extensively.
- Suppliers of used, undamaged and expired medical devices that are used for reprocessing include hospitals and healthcare facilities
- Buyers include surgical centres, orthopaedic centres, hospitals and other healthcare facilities that procure reprocessed medical devices from reprocessors
- Original medical devices with reduced pricing could act as internal substitutes in the near future. Thus, the threat of substitutes is expected to be from low to medium during the forecast period
- Requirement of steady supply of used medical devices, approved remanufacturing facilities and strong distribution network are the key challenges for new entrants
- Large number of companies with similar market share are dominating the reprocessed medical devices market in the Asia Pacific region
Apart from Porter’s Five Forces model, the report comprises key trends, drivers, restraints, opportunities and macroeconomic factors influencing the growth of the Asia Pacific reprocessed medical devices market. This report offers insights into the market dynamics that can influence the growth of the Asia Pacific reprocessed medical devices market over the forecast period. In the final section of the report, a competitive landscape has been included to provide a dashboard view of key companies operating in the Asia Pacific reprocessed medical devices market. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the reprocessed medical devices market and potential players. This section also includes market strategies and SWOT analysis of the main players operational in the Asia Pacific reprocessed medical devices market.
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The key segments in this market are as follows:
|By Country||By Product Type||By Classification||By Reprocessing Method||By End User|
|Australia New Zealand China India South East Asia Japan Rest of Asia Pacific||Gastroenterology Devices Cardiology Devices Laparoscopy Devices Orthopaedic/Arthroscopic Devices ENT Devices Others Pulse Oximetry Sensors Ultrasound Catheters||Critical Semi-Critical Non-Critical||In-House Third Party Assisted Non-Compliant Reprocessors||Hospitals Diagnostic Centres Ambulatory Surgical Centres|
We have considered Year-on-Year (Y-o-Y) growth to understand the predictability of the Asia Pacific reprocessed medical devices market and to identify growth opportunities for companies operating in the Asia Pacific reprocessed medical devices market. Another key feature of our report is the analysis of key segments in terms of absolute dollar opportunity. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective for services offered in the Asia Pacific reprocessed medical devices market. To understand key segments in terms of their growth and performance in the Asia Pacific reprocessed medical devices market, Future Market Insights has developed a unique market attractiveness index to help providers identify existing market opportunities.
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
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