Reprocessed Medical Devices Market 2018: Study on Eminent Players | Stryker Sustainability, Vanguard, GE Healthcare, Vascular Solutions, SureTek Medical, Centurion Medical Products, Soma Technology, Hygia Health Services, Steril Med (Ethicon Endo-Surgery)

Reprocessed Medical Devices Market will reach USD 2.8 billion by 2024; according to a new research report.
Growing occurrence of chronic diseases worldwide coupled with increasing usage of reprocessed products in numerous cardiac surgeries and blood pressure monitoring applications will drive industry growth over the foreseeable time. Affordable costs of the reprocessed medical devices as compared to new devices for surgeries encourages customer preference for reprocessed medical devices.

Sustainable waste disposal methods offered by reprocessing saves medical costs for hospitals as well as patients, aforementioned factors boost industry growth. Reprocessing reduces medical wastage of hospitals and aids in cost saving thereby, fueling global reprocessed medical devices market growth. Moreover, rising environmental concerns regarding medical waste and favorable regulations for sustainable hospital waste disposal methods are factors propelling adoption of reprocessed medical devices.
Reprocessed medical devices market growth will be hindered by surgical site infections (SSI) risk. Surgical site infections occur, due to improper reprocessing of medical devices, and cross infection.

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Cardiovascular medical devices dominated the industry due to increasing occurrence of cardiac diseases and relative affordable costs of the cardiovascular reprocessed medical devices.

Hospitals segment held largest revenue share owing to well-developed healthcare infrastructure and reimbursements provided by hospital settings increases the patient preference for hospitals.

U.S. reprocessed medical devices market was dominating the industry on an account of high adoption rate of reprocessed medical devices coupled with encouraging regulatory guidelines.

Germany reprocessed medical devices market held largest revenue share due to increasing prevalence of chronic diseases and rising number of cardiac surgeries. Moreover, growing usage of reprocessed medical devices in blood pressure monitoring applications will impact positively on Germany’s reprocessed medical devices market.

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India and China reprocessed medical devices market will grow significantly owing to high demand for reprocessed medical devices, firming system of suppliers in emerging countries coupled with developing healthcare infrastructure. Additionally, affordable costs of reprocessed devices will fuel business growth in India and China.

Some of the notable industry players are Steril Med (Ethicon Endo-Surgery), Stryker Sustainability, GE Healthcare, Vanguard, SureTek Medical, Vascular Solutions, Soma Technology, Centurion Medical Products, Medline ReNewal, Hygia Health Services, Medtronic, Midwest Reprocessing Centre, Pioneer Medical Devices, Siemens Healthcare, ReNu Medical, and Steripro Canada.
Prominent industry players are increasing their focus on strategic partnerships and collaborations along with sustainable waste disposal activities. They are also emphasizing on cost savings attained through reprocessing in order to enhance their existing market position.

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This release was published on openPR.