Reprocessed Medical Devices Market Rising Trends, Territorial Outlook and Industry Growth Prospects 2020-2026
Increasing number of cardiac surgeries coupled with the surging deployment of reprocessed equipment for diagnosis are likely to escalate Reprocessed Medical Devices Market growth through ensuing years. The global reprocessed medical devices market is anticipated to surpass USD 3.9 billion valuation by 2026, cites a recent report by Global Market Insights, Inc.
Studies state that more than a quarter of hospitals
in the U.S. utilize reprocessed single use medical devices, with the number
being nearly 80 per cent in some countries like Spain. As per a statement by
Practice Greenhealth’s Member Engagement Officer Manager, Kaeleigh Sheehan,
health facilities deploying reprocessed single use medical devices have
significant cost savings.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/477
Sheehan has further elaborated that the cost of reprocessing a single use device is nearly half of buying a new one. Research adds that even though setting up medical device reprocessors involves significant costs, the ability of reprocessing devices in yielding substantial savings for a healthcare facility in the long term are expected to impel reprocessed medical devices market outlook through the assessment period.
In
addition, extensive utilization of reprocessed medical devices in various
treatment procedures comprising non-invasive surgeries, general surgery, and
laparoscopic surgeries, amongst others is set to influence product demand
through 2026. Favorable reimbursement scenario coupled with a subsequent surge
in FDA (Food and Drug Administration) approvals for reprocessed cardiovascular
products represent other factors fostering reprocessed medical devices business
expansion through forthcoming years.
Further,
other significant market trends suggest that escalating number of clinics,
particularly across emerging economies are touted to drive reprocessed medical
devices adoption at clinics, owing to their capabilities of providing improved
productivity, offering convenient access to quality care, thereby helping in
the effective management of healthcare spending. Reprocessed medical devices
market from clinical application had a valuation of nearly USD 170 million in
2019. On the basis of end-use spectrum, the global reprocessed medical devices
market is segmented into ambulatory surgical centers, hospitals, and clinics,
state reports.
Prominent
reprocessed medical devices companies are focusing on the adoption of several
growth strategies pertaining to acquisitions, mergers, partnerships,
collaborations, and novel product launches for the maintenance of a strong
foothold in medical devices reprocessing industry.
Considering
an instance, Innovative Health, one of the key reprocessed medical devices
companies, secured FDA approval for reprocessing Biosense Webster’s Decanav and
two Medtronic diagnostic catheters in November 2018. This launch reportedly
helped the company in expanding its business portfolio. Major medical device
reprocessing companies include SureTek Medical, Stryker, GE Healthcare, Medline
Industries Teleflex Incorporated, Medtronic, Renu Medical (Arjo), Soma
Technology, Ethicon, and Vanguard AG amongst others.
Request
for customization @ https://www.gminsights.com/roc/477
On the
basis of products, the reprocessed medical devices market is divided into
orthopedic/arthroscopic, gastroenterology & urology, laparoscopic, and
cardiovascular medical devices. Increasing number of bone related treatments
and surgeries are poised to create an escalated demand for the augmentation of
orthopedic segment in the reprocessed medical devices industry. The
orthopedic/arthroscopic segment is set to exhibit a commendable CAGR of over
15.2 per cent through the estimated period, driven by the growing prevalence of
orthopedic injuries including osteoarthritis, traumatic fractures,
osteoporosis, and rheumatoid arthritis.
In
essence, increasing adoption of reprocessed medical devices against numerous
benefits comprising high-cost efficiency will spur reprocessed medical devices
industry growth through coming years. Chances of surgical site infections
looking at improper sterilization may, however, hamper industry expansion to a
certain extent.
Browse key industry insights spread
across 218 pages with 346 market data tables and 14 figures & charts from
the report, Reprocessed Medical Devices Market in detail along with the
table of contents:
https://www.gminsights.com/industry-analysis/reprocessed-medical-devices-market
Report Content
Chapter 3 Reprocessed
Medical Devices Industry Insights
3.1 Industry
segmentation
3.2 Industry
landscape, 2015 - 2026
3.3 Industry impact
forces
3.3.1 Growth drivers
3.3.1.1 Favorable
regulatory landscape regarding sustainable waste disposal methods
3.3.1.2 Affordable
costs coupled with the strengthening network of distributors in emerging
economies
3.3.1.3 Growing use of
reprocessed products in numerous cardiac surgeries and blood pressure
monitoring applications
3.3.2 Industry
pitfalls and challenges
3.3.2.1 Risk of
surgical site infections
3.4 Growth potential
analysis
3.4.1 By product
3.4.2 By end-use
3.5 COVID-19 impact
analysis
3.6 Regulatory
landscape
3.6.1 U.S.
3.6.1.1 Reprocessing
instructions and labeling data
3.6.2 Europe
3.6.3 Japan
3.7 Porter’s analysis
3.8 Competitive
landscape, 2019
3.8.1 Company matrix
analysis, 2019
About Global Market Insights
Global Market Insights,
Inc., headquartered in Delaware, U.S., is a global market research and consulting
service provider; offering syndicated and custom research reports along with
growth consulting services. Our business intelligence and industry research
reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These
exhaustive reports are designed via a proprietary research methodology and are
available for key industries such as chemicals, advanced materials, technology,
renewable energy and biotechnology.
Contact Us:
Arun
Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Comments
Post a Comment