1 / 4

Reprocessed medical devices market

Increasing hospital expenditures on medical devices and high amount of medical wastage produced in day to day practices is a major burden globally. To address this problem, medical devices industry and healthcare provider are focused on reprocessing medical devices as an alternative solutions to address both the challenges.

akshay925
Download Presentation

Reprocessed medical devices market

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Reprocessed Medical Devices Market Reprocessed Medical Devices Market Size,Trends,Shares,Insights,Forecast,2025|Coherent Market Size,Trends,Shares,Insights,Forecast,2025|Coherent Market Insights Insights Reprocessed Medical Devices Market – Insights Reprocessed Medical Devices Market – Insights Increasing hospital expenditures on medical devices and high amount of medical wastage produced in day to day practices is a major burden globally. To address this problem, medical devices industry and healthcare provider are focused on reprocessing medical devices as an alternative solutions to address both the challenges. Increasing reprocessed medical devices is attributed to various factors such as hospital cost savings, low cost availability of reprocessed devices, and environmental benefits by reducing medical wastage's. Significant economic and environmental benefits associated with reprocessed medical devices are expected to fuel growth of the market over the forecast period. For instance, in 2017, according to a study conducted by National Institute for Health and Care Excellence (NICE), analyzed medical wastage and expenditure on such products. The study was conducted at Department of Plastic Surgery at Portsmouth’s Queen Alexandra Hospital for five days of time period and collected data of products such as dressings, sutures and surgical instruments that were opened but remain unused. The cost accounted around US$ 8,915.92 per week and this value extrapolated to one year. Through the study, it was estimated that around US$ 461,368.07 per year was wasted on such medical products. The reprocessing of medical devices will help hospitals to save such additional costs of wastage medical materials. The global reprocessed medical devices market is estimated to be US$ 1,840.6 million in 2019, and is expected to exhibit a CA-GR of 20.4% over the forecast period (2020-2027). Get PDF Brochure Of This Research Report @ Get PDF Brochure Of This Research Report @ https://www.coherentmarketinsights.com/insight/request-pdf/234 https://www.coherentmarketinsights.com/insight/request-pdf/234

  2. Cost effectiveness, equivalent performance to the original devices, warranty and availability of sources are expected to drive growth of the reprocessed medical devices market. For instance, according to USITC (United States International Trade Commission) statistics, the production of reprocessed devices increased by 12% during 2009-2011. This is also attributed to production capacity expansion by a large number of medical device re manufacturers during this period. The 2008-2009 recession was the supportive factor behind this growth, as during this period, various patients lost their medical insurance and this have affected the reimbursement of devices also, which in turn led to uptake of cost-effective devices. Moreover, cardiovascular devices segment is expected to hold dominant position in the market over the forecast period, owing to reduction in product price, increasing pressure to reduce expenditure of healthcare among hospital authorities, and increasing focus on protection of environment by reducing medical waste dumping. Increased focus on protecting the environment by reducing medical waste that was dumped in landfills is expected to drive growth of the reprocessed medical devices market. Over 90% of potentially infectious medical waste was incinerated before 1997. In August 1997, the US. Environmental Protection Agency (EPA) promulgated regulations creating stringent emission standards for medical waste incinerators due to significant concerns over detrimental air quality affecting human health. EPA’s Office of Air Quality Planning and Standards continues to review and revise the hospital medical infectious waste incinerator (HMIWI) standards as required most recently in May 2013. The growth in reprocessed medical devices market is also favored by the rising awareness about the adverse environmental effects of dumping medical wastes in landfills. The widespread use of plastics and other non-biodegradable artificial polymers in medical devices are expected to fuel growth of the global reprocessed medical devices market, as adoption of biodegradable materials in medical devices has still not been widely incorporated. For instance, according to the World Health Organization (WHO) 2015, every year around 16 billion injections are administered worldwide, but not all the needles and syringes are properly disposed after its use.

  3. Research Methodology Research Methodology Coherent Market Insights follows comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include: Primary Research (Trade Surveys and Experts Interviews) Primary Research (Trade Surveys and Experts Interviews) • Desk Research Desk Research • Proprietor Data Analytic Model Proprietor Data Analytic Model • In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings. Request Sample Copy of Research Report @ Request Sample Copy of Research Report @ https://www.coherentmarketinsights.com/insight/request-sample/234 https://www.coherentmarketinsights.com/insight/request-sample/234 Global Reprocessed Medical Devices Market - Competitive Landscape Global Reprocessed Medical Devices Market - Competitive Landscape Major players operating in the global reprocessed medical devices market include Striker Corporation, Johnson & Johnson, Vanguard AG), Med line Renewal , SteriPro Canada, Inc., Pioneer Medical Devices AG, Vascular Solutions, Inc., HYGIA Health Services, Inc., Re Nu Medical, Inc., SureTek Medical, Centurion Medical Products Corporation, and Vanguard AG.

  4. About Coherent Market Insights About Coherent Market Insights Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us Contact Us Mr. Shah Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154 Tel: +1-206-701-6702 Email: Email: sales@coherentmarketinsights.com sales@coherentmarketinsights.com

More Related