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Reprocessed Medical Devices Market
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Reprocessed Medical Devices Market Reprocessed Medical Devices Market Reprocessing is a regulated activity for manufacturing the medical devices that are conducted by third party or hospitals. The US Food and Drug Administration (FDA) requires third-party reprocessors to meet the same standards as originally manufactured single-use devices. Reprocessing is a common practice in the U.S. after the advent of “Honor Roll”, where hospitals were supposed to choose to reprocess single-use devices and 77% of Practice Greenhealth Award winners in 2010 chose to reprocess medical devices with a combined savings of over USD 10.8 million. “Superbug” is the antibiotic resistance that is said to be associated with drug only while the medical device is equally responsible for it. Around 45% of hospitals had agreements with third-party reprocessing companies which increased to 70% in 2008 after the economic recession in the U.S. Goldstein Research analyst forecast the reprocessed medical devices market size is set to reach USD 5.12 billion by 2024, at a CAGR of 15% over the forecast years. Currently, most hospitals and healthcare facilities outsource reprocessed medical devices to qualified third party service providers.
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Reprocessed Medical Devices Market Market Segmentation By Reprocessed Medical Device
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•Cardiovascular Devices •Laparoscopic Devices •Gastroenterology Devices •General Surgery Devices •Orthopedic Devices •Others (Ultrasound catheters, saw blade, etc) By Product Type •Portable •Standalone By End User •Hospitals •Homecare Settings •Specialty Centers •Medical Laboratories Published By: Goldstein Research
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Reprocessed Medical Devices Market Based on Geography •
North America (U.S., Canada) {Market Share (%), Market Size (USD Million), Product Sales (Units)}
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Asia-Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and ROAP) {Market Share (%), Market Size (USD Million), Product Sales (Units)}
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Europe (The UK, Germany, France, Italy, Spain, , Russia, Poland, Sweden, and ROE) {Market Share (%), Market Size (USD Million), Product Sales (Units)}
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Latin America (Brazil, Mexico and ROLA) {Market Share (%), Market Size (USD Million), Product Sales (Units)}
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Middle East and Africa (GCC, North-Africa, South Africa and ROMEA) {Market Share (%), Market Size (USD Million), Product Sales (Units)}
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Rest of the World {Market Share (%), Market Size (USD Million), Product Sales (Units)}
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Reprocessed Medical Devices Market Market Size and Forecast (2016-2024) According to the report, major driving factor for reprocessed medical devices industry is the cost saving attribute of reprocessed devices and solutions which is responsible for potential annual savings of USD 2 billion in U.S. health care system from reprocessing and repurchasing 2% of all medical devices and potential cost savings of almost 50% and annual savings of USD 213K by one health system from purchasing reprocessed medical devices while Stryker Sustainability Solutions works with hospitals that save over USD 1 million annually as a result of a reprocessing program. Based on geography, North America dominated the global reprocessed medical devices market with the market share of 42% in 2016 followed by Europe owing to Directive 93/42/EEC concerning medical devices and distinguishes between reusable devices and those intended for single use, according to which for the reusable medical devices, the manufacturer must provide information on the appropriate process to allow reuse, including cleaning, disinfection, and packaging and, where appropriate, the method of sterilization to be used, and any restriction on the number of reuses. APAC tends to be the fastest growing reprocessed medical device market and Japan, China, Australia, Korea, Indonesia, and India owing to encouraging regulatory policies and rising pressure to keep healthcare budgets under control are expected to fuel the growth of the reprocessed medical devices market in the APAC. Global Reprocessed Medical Devices Market Size (USD Billion), 2016-2024 XX
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Reprocessed Medical Devices Market Scope Background Market Synopsis
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Market Segmentation The Global Reprocessed Medical Devices Market is segmented as follows: • By Reprocessed Medical Devices (Market Size, Demand Analysis and Growth Analysis) • By Product Type (Market Size, Demand Analysis and Growth Analysis) • By End-user Type (Market Size, Demand Analysis and Growth Analysis) By Country • • • • • •
North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis} Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis} Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis} Asia-Pacific (China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis} Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis} Rest of World {Market Size, Growth Analysis and Opportunity Analysis}
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Reprocessed Medical Devices Market Market Dynamics: Growth Drivers, Restraints and Opportunities o Risk Factors o Regional Variations o Recent Trends and Developments
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Key Market Players o Synopsis o Business Strategy o Product Portfolio o SWOT Analysis Porter’s Five Force Model Market Landscape: Competition and Beyond Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem Expert Analysis Concluding Remarks
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Reprocessed Medical Devices Market About Goldstein Research Based in U.S., Goldstein Research is a young business consulting and market research firm with vast reach across America, Asia and parts of Europe and the Middle East. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions. With 30+ domain experts and 50+ employees working day and night to crunch numbers and bring out the best and detailed market reports and forecasts, we strive to enable you to foresee upcoming market challenges and develop a robust business model and strategies, which would add to your profitability and market visibility as a brand. Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear cut forecasts. Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear cut forecasts. Published By: Goldstein Research
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Reprocessed Medical Devices Market Sample Request
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99 Wall Street, Suite No:- 527, New York, NY 10005 United States of America
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Office No:- 504, 5th Floor, C-51, BSI Business Park, Sector-62, Noida, PIN:- 201301 India
+91-120-473-0422, +91-844-785-9968 sales@goldsteinresearch.com
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Published By: Goldstein Research
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Reprocessed Medical Devices Market
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