Asia Pacific Recycled Medical Devices Market Sales: 2033

In a significant new study by Future Market Insights (FMI), the recycled medical device market in the Asia Pacific region is expected to witness solid growth, clocking a compound annual growth rate (CAGR) of 14.4% during the forecast period. This rapid growth underscores the growing shift towards sustainability and cost-efficiency in healthcare practices across the region.

According to the report, the market, which was valued at $428.4 million in 2023, is on a fast track to expansion. This growth is expected to continue over the next decade, with the market expected to reach a staggering $1,639.4 million by 2033. This progress indicates increased adoption and acceptance of recycled medical devices in healthcare sectors in the Asia Pacific region, driven by the dual benefits of reducing medical waste and lowering healthcare costs.

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Recycled medical devices, which range from cardiovascular devices to laparoscopic instruments, are thoroughly cleaned, sterilized and tested to meet rigorous standards of safety and effectiveness before being reintroduced into medicine. This process not only supports environmental sustainability, but also allows healthcare facilities to allocate resources more efficiently.

Japan, which has historically secured the largest market share, is poised to maintain its leading position in the Asia-Pacific market for recycled medical devices. This dominance is attributed to the growing use of these devices and the significant unmet medical needs prevalent in Japan, a trend that is expected to continue throughout the forecast period.

One of the key factors driving the growing market in the Asia Pacific region is the growing focus on medical waste reduction. The report highlights the urgent need for waste reduction initiatives, citing data from the National Bureau of Estimation of China, revealing that in 2018 alone, China generated over two million tons of medical waste.

Commenting on the results, Sabyasachi Ghosh, Associate Vice President at Future Market Insights, Inc., said, “The significant growth anticipated in the recycled medical device industry in the Asia Pacific region underscores the growing awareness and commitment towards sustainable healthcare practices. As a market leader, we are poised to play a key role in meeting this demand and contributing to the broader goals of reducing medical waste in the region.”

The report sheds light on the changing landscape of the remanufactured medical device industry and provides valuable information for stakeholders, investors and industry representatives looking to capitalize on emerging opportunities.

Highlights from FMI’s analysis of the Asia-Pacific processed medical device market:

• In 2022, Japan captured 29.4% market share in the Asia Pacific remanufactured medical device market. The country is projected to account for 11.9% CAGR during the forecast period.
• China, following in Japan’s footsteps, became the leader in the Asia-Pacific market for remanufactured medical devices in 2022, capturing 18.9% value share in 2022.
• Southeast Asia gained 15.3% market share in value terms in 2022. Southeast Asia is forecasted to register a CAGR of 14.8% over the forecast period.
• In 2022, India had a 12.5% ​​share of the remanufactured medical device market in the Asia Pacific region.
• Australia’s market share in 2022 was 11.7%. The country is expected to grow at a CAGR of 14.2% in the coming years.
• New Zealand held 2.8% market share by value in 2022. The country is projected to grow at a 12.9% CAGR during the forecast period.
• China and India are enjoying the fastest growth in the market, with a compound annual growth rate (CAGR) of 18.8% and 18%, respectively.
• In value terms, cardiology devices achieved a 59.2% market share in 2022.
• According to the classification, the semi-critical segment gained 46.17% of the market share in 2022.
• In the reprocessing methods category, the third-party-supported section gained 47.51% value share in 2022.
• Based on end-user data, the hospital segment achieved a market share of 53.64% in 2022.

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Innovation Watch: Key Market Events

• Johnson & Johnson Services, Inc. officially announced that DePuy Synthes has received 510(k) clearance from the U.S. FDA for the ATTUNE Total Knee System in January 2021. This VELYS robotic-assisted solution also has a clear indication for use. Sales of the product are expected to increase both now and in the future to meet growing market demand.
• Olympus Corporation announced that it launched the OERElite automated endoscope reprocessor (AER) in October 2020. The product is designed to simultaneously clean and sterilize up to two endoscopes using AcecideC in 28 minutes.
• In April 2020, Cleanpart GmbH implemented a quality management system for medical devices.

Key players:

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

The major segments of the recycled medical devices market in the Asia Pacific region are as follows:

By product type:

• Gastroenterological devices
• Cardiology devices
• Laparoscopy Equipment
• Orthopedic/arthroscopic devices
• ENT devices
• Others
  • Pulse oximetry sensors
  • Ultrasound catheters

By classification:

• Critical
• Semi-critical
• Uncritical

By processing method:

• At home
• Supported by third parties
• Incompatible processing plants

By end user:

• Hospitals
• Diagnostic centers
• Outpatient Surgery Centers

By country:

• Australia
• New Zealand
• China
• India
• Southeast Asia
• Japan
• Rest of Asia Pacific

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner and member of the Greater New York Chamber of Commerce) offers in-depth insights into the factors driving market demand. FMI is a leading global provider of market intelligence, advisory services, consulting and events for the packaging, food and beverage, consumer technology, healthcare, industrial and chemical markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional and local expertise on various industry disciplines and trends in over 110 countries.

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