AUSTRALIA REPROCESSED MEDICAL DEVICES MARKET ANALYSIS

Market Challenges And Opportunities

Australia Reprocessed Medical Devices Market : Key Developments

In July 2022, NEScientific, Inc., a company focused on reprocessing single-use peripheral vascular catheters, announced it had received FDA clearance for reprocessing the Philips Spectranetics 0.9mm OTW Turbo-Elite laser atherectomy catheter. The device is used to treat peripheral arterial disease (PAD) and emits high-energy ultraviolet light to vaporize blockages inside the vessels. This laser catheter is one of the most commonly used modalities for this common procedure, with treatments done in acute care settings, surgical centers, and the Office-based Lab (OBL).

On March 30, 2022, Solvay, a science company whose technologies bring benefits to many aspects of daily life, and Mitsubishi Chemical Advanced Materials, a global manufacturer of high-performance thermoplastic materials in the form of semi-finished products and finished parts, partnered to recycle end-of-life medical components within medical devices.

In August 2021, Stryker, a medical technology company, announced its plans for a $14 million expansion of its warehouse on Portage Road, U.S. According to a statement released by Stryker, the expansion will allow the Portage Distribution Center to operate more efficiently, allow all inventory to be stored on-site, and allow for future sales growth as well as an increased component footprint for new product launches.

Increasing Product Approvals

The increasing product launch activities to invent newer reprocessing devices or its accessories can drive growth of the Australia reprocessed medical devices market. For instance, June, 2020, NEScientific, Inc., a company that provides real-time simulation technologies that are used to support physicians in better targeting tissues during a variety of minimally invasive, announced that it had received FDA clearance for reprocessing the 014 Digital IVUS catheter.

Australia Reprocessed Medical Devices Market: Restraint

Lack of confidence in reprocessed medical devices

Negative perceptions about reprocessed medical devices are also expected to limit market growth. It is often perceived that reprocessed medical devices are inferior to new devices in terms of safety, efficacy, and product quality. Despite evidence and studies demonstrating how reprocessed medical devices are safe and effective, negative perceptions about their usage persist.

This can be overcome by arranging seminars and workshops for healthcare professionals as well as caregivers, highlighting the safety and efficacy of reprocessed medical devices

• Lack of confidence in reprocessed medical devices