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Reprocessed Medical Devices Market Higher Growth Rate & Forecast 2018 – 2026 | Stryker Corporation, Johnson & Johnson, Vanguard AG), Medline ReNewal , SteriPro Canada, Pioneer Medical Devices AG, Vascular Solutions

05-25-2019 02:38 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Coherent Market Insights

Reprocessed Medical Devices

Reprocessed Medical Devices

Reprocessed medical devices are single-use medical devices, which are recycled by disinfection, cleaning, remanufacturing, testing, packaging and labeling, and sterilization and various other steps to make a used medical devices back in service again. All reprocessed devices are originally labeled as single- use medical devices and need to meet the requirements of the U.S. Food and Drug Administration such as, cleaning, sterility and functionality prior to use. Research publication related to medical devices market suggested that firstly medical devices reprocessing was mostly performed by hospital staffs within hospital setting without any proper guidelines.

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Market Dynamics
Rise in incidence of cardiovascular disease due to increase in the prevalence of high blood pressure and diabetes worldwide is expected to favor the demand for reprocessed medical devices around the globe. As cardiovascular devices such as blood pressure cuffs, cardiac stabilization and positioning devices, catheters or general surgery devices can be reprocessed.
In year 2015, according to World Health Organization (W.H.O) estimated that around 17.7 million people died due to cardiovascular disease worldwide. Furthermore, the majority of deaths are occurred in emerging economies due to high prevalence rate and lack of healthcare services in rural areas.

Cost effectiveness, equivalent performance to the original devices, warranty and availability of sources driving growth of reprocessed medical devices market
The USITC statistics indicate that the production of reprocessed devices increased by 12% during 2009-2011. This is mainly attributed to production capacity expansion by a large number of medical device remanufacturers during this period. The 2008-2009 recession was the supportive factor behind this growth, as during this period various patients lost their medical insurance and it affected the reimbursement of devices, which in turn led to uptake of cost-effective devices.

The cardiovascular medical devices segment is expected to retain its dominance over the forecast period, owing to reduction in product prize, increasing pressure to reduce expenditure of healthcare among hospital authorities, and increasing focus on protection of environment by reducing medical waste dumping.

Over 90% of potentially infectious medical waste was incinerated before 1997. In August 1997, the U.S. Environmental Protection Agency (EPA) promulgated regulations creating stringent emission standards for medical waste incinerators due to significant concerns over detrimental air quality affecting human health. EPA’s Office of Air Quality Planning and Standards continues to review and revise the Hospital Medical Infectious Waste Incinerator (HMIWI) standards as required most recently in May of 2013.

Some major key players in the global reprocessed medical devices market include Stryker Corporation, Johnson & Johnson, Vanguard AG), Medline ReNewal , SteriPro Canada, Inc., Pioneer Medical Devices AG, Vascular Solutions, Inc., HYGIA Health Services, Inc., ReNu Medical, Inc., SureTek Medical, Centurion Medical Products Corporation and Vanguard AG.

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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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