San Francisco, 20 September
2018: According to a report by Grand View Research, Inc., global reprocessed
medical devices market is estimated to value USD 5.0 billion by 2022.
Growing requirement for reduction in medical waste and healthcare expenditure
are anticipated to propel demand for reprocessed medical devices as they offer
less medical waste, safety, and low medical expenses. Growing adoption of
reprocessed medical devices in hospitals and other healthcare centers
attributed to excellent cost-efficiency can fuel the market growth.
Continuous methodological
advancements related to reprocessing of medical devices coupled with increasing
number of third party preprocessors would also augment market development.
Growing inclination of healthcare professional towards single-use reprocessed
devices (SUDs) to ensure patient safety by reducing the risk of contracting
infections can also foster the market demand during the forecast period (from 2016
to 2022).
The global reprocessed medical
devices market is segregated on the basis of product type, end-use, and region.
On the basis of product type, the market is categorized into laparoscopic,
gastroenterology, general surgery devices, and cardiovascular. In 2014, the cardiovascular
segment dominated the overall market and accounted for 56.1% of the total share.
On the basis of end-use, the market is classified into home healthcare,
hospitals, and others. In 2014, hospital segment led the market. On the basis
of geographies, the market is divided into Europe, North America, Asia Pacific,
Latin America, and Middle East & Africa (MEA).
Access
Research Report of Reprocessed
Medical Devices Market@ www.grandviewresearch.com/industry-analysis/reprocessed-medical-devices-market
In 2014, North America
dominated the global market and accounted for USD 540.9 million of the overall
share. Growing need to control waste generation to prevent any damage to
environment caused due to increasing number of landfills can propel the market
growth. In addition, supportive government initiatives in the region to spread
awareness regarding reprocessing of equipment would also stimulate the growth
of reprocessed medical devices market over the next few years.
In Europe, the market is
anticipated to grow well during the forecast period on account of rising awareness
regarding the availability of advanced products and positive government initiatives
to reduce healthcare expenses. Furthermore, strong presence of various organizations
in the region, such as European Association for Medical Device Reprocessing
(EAMDR), that spread awareness by collaborating with companies, research
institutes etc. can influence the market demand.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/medical-devices
The Asia Pacific regional
market is predicted to expand at a strong growth rate owing emerging economies focusing
on controlled operational expenses. This, in turn, is expected to foster the market
growth over the coming years. In addition, increasing investments from international
companies to improve healthcare infrastructure in the region can also spur the market
growth.
Some of the leading companies
offering reprocessed medical devices are Philips Healthcare; SureTek Medical; SterilMed,
Inc.; Siemens Healthineers; GE Healthcare; and Centurion Medical Products Corp.
Technological advancements in various methods of testing, inspection, cleaning,
and sterilization of medical devices making them reusable and safe for clinical
applications can stimulate the market growth.
Considering the benefits, most
companies are focusing on R&D activities to develop advanced methods to
reduce refurbishment cost. In addition, companies are also actively involved in
M&A activities for regional expansion. Rising number of new market players
and frequent product approvals are anticipated to fuel competition in market.
Access
Press Release of Reprocessed Medical Devices Market@ www.grandviewresearch.com/press-release/global-reprocessed-medical-devices-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The company
provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
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