The global reprocessed medical devices market was valued at USD 0.78 billion in 2013 and is expected to grow at a CAGR of 19.3% from 2014 to 2020, to reach USD 2.58 billion in 2020.
Albany, NY -- (SBWIRE) -- 07/08/2016 -- The reprocessing of medical devices refers to a method of disinfecting, remanufacturing, testing, packaging, and labelling of expired, undamaged, and used medical devices. This is done for making these medical devices patient ready at a much lower cost. These devices are labelled and designed for a number of manufacturers and are made out of materials that are able to withstand repeated processing involving chemicals and manual brushing. The key aim of reprocessing medical devices, particularly within developing nations, is the reduction of costs for hospitals.
Transparency Market Research (TMR), a market intelligence company, covers the key attributes related to the reprocessed medical devices market, such as the factors impacting market dynamics and the major steps taken by companies to propel its growth.
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Q. What drivers and restraints are predicted to affect the dynamics of reprocessed medical devices market?
The rising pressure of lowering the medical waste generated will raise the demand for reprocessed medical devices. In addition, the growing adoption of reprocessed medical devices globally will also impact the market positively. The increasing pressure on hospitals and various other healthcare settings to operate under a fixed budget is also a major factor fuelling the development of the market.
Furthermore, the rising preference for single-use reprocessed devices among of physicians, mainly as a patient safety measure owing to the reduced infection risks associated with the use of these devices, will further augment the development of the global reprocessed medical devices market. On the other hand, the absence of suitable regulatory guidelines and the growing apprehensiveness about the quality of reprocessed medical devices may impede the development of the market in the coming years.
Q. Is lowering the risks of improperly reprocessed medical devices a responsibility taken by the FDA?
Yes. The utilization of medical devices may result in the retention of tissue, blood, and other biological debris in some kinds of reusable medical devices. Further, this debris may lead in microbes surviving the sterilization process or disinfection, which may then result in heathcare- associated infections (HAIs). Hence, the reduction of risks of improperly reprocessed medical devices is a responsibility taken by a number of stakeholders. These include the healthcare facilities responsible for disinfecting or sterilizing, cleaning, manufacturers providing accurate reprocessing instructions that are likely to work and are user-friendly, and the FDA
In addition, the FDA has been activity engaged with a number of other federal agencies, local and state health departments, and professional societies, among others, for the enhanced understanding of the risk factors and causes of infectious agents. Accurate solutions are also being implemented by the FDA to minimize patient exposure.
Q. Which type of reprocessed medical devices will gain popularity in the coming years and what steps have been taken by the prime players for encouraging the utilization of reprocessed medical devices?
Cardiovascular reprocessed medical devices are poised to experience the highest growth in the coming years owing to the low cost of these devices and the rising focus on reducing the healthcare expenditure within hospitals.
The market for reprocessed medical devices includes a number of players involved in strategic alliances such as mergers and acquisitions and introduction of sustainable medical waste reduction programs. These players are also getting product approvals done for improving the supply and sales in the reprocessed medical devices market. For example, in June 2015, a subsidiary of Intalere, Inc., Intalere Choice, collaborated with HYGIA Health services for improving reprocessed medical devices' supply, which will further positively impact the overall growth of this market.
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