Global Study Report on Single-Use Medical Device Reprocessing Market 2021-2028 | Stryker Corporation, Medline ReNewal, Centurion Medical Products Corporation

The concept of sterilizing, packaging, testing and producing a used product is known as single use medical device reprocessing. The term single-use device does not have a specific definition and depends only on the perception of the end user. Reprocessing of the single-use device is permitted if the device is properly disinfected while retaining its technological and physical functionality. There are two methods of reprocessing single-use medical devices: inpatient treatment and third party treatment. Third-party processing is considered a superior alternative, as regulators may apply strict standards for quality assurance and validation.

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Reprocessing of single-use medical devices is gaining popularity as a way to minimize hospital waste and save money. For example, Kaiser Permanente, an integrated distribution network based in the United States, saved $ 11 million per year by recycling single-use devices. Reprocessing allows hospitals to get the same device at a lower price than the original device, saving money. According to Practice Green Health, an NGO that provides environmental solutions to the healthcare sector, reprocessing of single-use medical devices prevented the entry of 10,000 tonnes of medical waste between 1997 and 2007, processing around 50 million devices. As hospitals recognize significant cost savings and the possibility of eliminating environmental hazards, the global single use medical device reprocessing market is expected to expand significantly during the forecast period.

Hospital cost restraints and beneficial environmental impact are expected to fuel the global single-use medical device reprocessing market during the forecast period.

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Hospitals around the world are facing financial hardship as the cost of original medical devices increases. With the change of government in the United States, Obamacare and the standards that accompany it could be repealed. This could result in low reimbursement by third parties for hospitals, prompting them to implement cost-cutting measures such as reprocessing of single-use medical devices. The most important benefit is that hospitals can reduce medical device costs by around 50%, which is essential when it comes to expensive devices such as catheters and cardiac ablation devices. Currently, 250 medical devices are being processed, 10% of medical devices being suitable for reprocessing single-use medical devices. In terms of environmental protection, hospitals can reduce medical waste by up to 50% by using the reprocessing of single-use medical devices. Healthcare waste management not only puts tremendous pressure on hospital costs, but it has also become a market in its own right in countries like Japan, the United States, and China. For example, Ascent, a subsidiary of Stryker Corporation, was able to divert 1,684 tonnes of medical landfill waste in 2007 through reprocessing. Due to the environmental sustainability and significant cost savings associated with reprocessing, small and medium sized hospitals are ready to improve their presence in the market for the reprocessing of single use medical devices.

North America Expected to Account for Largest Share of Global Single-Use Medical Device Reprocessing Market

The United States has the largest healthcare system in the world, with government spending an average of 30% of its annual budget for healthcare. Major hospitals in the United States include Beth Israel Deaconess Medical Center, Cleveland Clinic, Johns Hopkins Hospital, and Mount Sinai Hospital. In the aftermath of the recession, these hospitals need to meet sustainability goals while controlling spending. For example, 45% of US hospitals signed agreements with third-party processing companies in 2007, and this figure rose to 70% in 2008 due to the severe economic recession. The United States Food and Drug Administration regulates the reprocessing of single-use medical devices and requires third-party processors to maintain quality requirements in accordance with the original devices. The United States Food and Drug Administration has developed strict regulations to ensure consistency and eliminate illnesses associated with the reuse of single-use devices. The United States Food and Drug Administration has a complaints system in place to report adverse events associated with the use of single-use devices, which in turn supports accountability.

Lack of regulatory requirements in places such as Asia-Pacific, Europe, and South America is a restraining factor driving the growth of the global single-use medical device reprocessing market over the course of the period. forecast period. The European Union has not established any reprocessing guidelines. Some European countries like France, Spain and England are opposed to reprocessing. In Asia-Pacific, the reuse of single-use medical devices is common, despite the lack of laws. There are no official laws regarding reprocessing of single-use medical devices in countries like South Korea, India and Japan.

The single-use medical device reprocessing market is in its infancy and few players dominate the market.

The major players operating in the global single-use medical device reprocessing market include SterilMed Inc., Centurion Medical Products Corporation, Stryker Corporation, Hygia Health Services Inc, Medline ReNewal, Vanguard AG, Midwest Reprocessing Center and others. These companies have successfully proven the economic and environmental benefits of reprocessing single-use medical devices. As the regulatory scenario in the Asia-Pacific region and Europe unfolds, these companies will gain significantly.

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Reasons to buy this report

• Current and future outlook for the global single-use medical device reprocessing market in developed and emerging markets.
• The segment which is expected to dominate the market as well as the segment which holds the highest CAGR during the forecast period.
• Regions / countries expected to experience the fastest growth rates during the forecast period
• The latest developments, market shares and strategies used by the main market players

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Contents

Chapter 1 Industry overview
1.1 Definition
1.2 Assumptions
1.3 Scope of the research
1.4 Market Analysis by Regions
1.5 Analysis of Single-Use Medical Device Reprocessing Market Size from 2021 to 2028
11.6 COVID-19 outbreak: impact on the single-use medical device reprocessing industry

Chapter 2 Global Single Use Medical Device Reprocessing Competition by Types, Applications and Major Regions and Countries
2.1 Global reprocessing of single-use medical devices (volume and value) by type
2.3 Global Single-Use Medical Device Reprocessing (Volume & Value) by Regions

chapter 3 Production market analysis
3.1 Global Production Market Analysis
3.2 Regional production market analysis

Chapter 4 Global Single Use Medical Device Reprocessing Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Single Use Medical Device Reprocessing Market Analysis
Chapter 6 Analysis of the single-use medical device reprocessing market in East Asia
Chapter 7 Single-use medical device reprocessing market analysis in Europe
Chapter 8 Single-use medical device reprocessing market analysis in South Asia
Chapter 9 Single-use medical device reprocessing market analysis in Southeast Asia
Chapter 10 Middle East Single Use Medical Device Reprocessing Market Analysis
Chapter 11 Single-use medical device reprocessing market analysis in Africa
Chapter 12 Single-use medical device reprocessing market analysis in Oceania
Chapter 13 South America Single Use Medical Device Reprocessing Market Analysis
Chapter 14 Company profiles and key figures for the reprocessing of single-use medical devices
Chapter 15 Global Single Use Medical Device Reprocessing Market Forecast (2021-2027)
Chapter 16 Conclusion
Research methodology

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