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Reprocessed Medical Devices Market Will Achieve Huge 14% CAGR to Cross $3 Billion by 2024

Global Market Insights,Inc.
Posted on: 22 Mar 18
Reprocessed Medical Devices Market Will Achieve Huge 14% CAGR to Cross $3 Billion by 2024 U.S Reprocessed Medical Devices Market accounted for largest revenue share in 2016 and will grow significantly during forecast period (2017-2024), propelled by increasing prevalence of chronic diseases, rising records of MIS performed annually, and augmented consumer awareness levels for MIS.

PR Newswire

SELBYVILLE, Dela., March 22, 2018

SELBYVILLE, Dela., March 22, 2018 /PRNewswire-iReach/ -- The Industry growth report "Reprocessed Medical Devices Market Size By Product (Cardiovascular Medical Devices {Blood Pressure Cuffs/Tourniquet Cuffs, Electrophysiology Cables, Cardiac Stabilization and Positioning Devices, Diagnostic Electrophysiology Catheters, Deep Vein Compression Sleeves (DVT)} Gastroenterology and Urology {Gastroenterology Biopsy Devices, Urology Biopsy Devices} Orthopedic/Arthroscopic {External Fixation Devices} Laparoscopic {Harmonic Scalpels, Endoscopic Trocars and Components} General Surgery Equipment {Infusion Pressure Bags, Balloon Inflation Devices}), By End-use (Ambulatory Surgical Centers, Hospitals, Clinics), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Poland, China, India, Japan, Australia, Argentina, Brazil, Mexico, Saudi Arabia, South Africa, UAE), Application Potential, Competitive Market Share & Forecast, 2017 – 2024" by Global Market Insights, Inc. says Reprocessed Medical Devices Market share is expected to cross $3 billion by 2024.

Rising prevalence of chronic diseases that further lead to upsurge in surgical procedures drives reprocessed medical devices market size during the forecast timeframe. The increasing demand for cost cutting procedures in healthcare in developed as well as developing countries similarly upsurges need for usage of reprocessed medical devices thereby, propelling business growth. To reprocess the devices aspects such as, lifecycle, efficacy, probable risk to patient and the components used for manufacturing are taken into consideration. Reprocessing of medical devices requires to comply with authenticated procedure that will render its suitability for usage.

 The growing healthcare cost coupled with excessive prices of purchasing new medical devices creates requirement and demand for reprocessed medical devices this stimulates progress and development for reprocessing during the forecast timeframe. Moreover, the low price of reprocessed devices is foremost influence that encourages preference over new medical devices and is accountable for the increasing demand of reprocessed medical devices.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/477

Constant corrosion of ecological surroundings owing to growing landfills can be reduced with help of reprocessed medical devices, such factors boost the industry growth in coming years. However, the major factor that hinders reprocessed medical devices market growth is related risks of surgical site infections with reprocessed devices.

 Cardiovascular medical devices held maximum revenue share of the overall reprocessed medical devices market due to high prevalence of cardiovascular diseases and, associated high surgical procedures of heart. Moreover, increasing factors such as, lack of physical exercise, unhealthy eating habits upsurges risk of cardiovascular diseases thereby, offering immense scope of growth in future for reprocessed cardiac devices.

Browse key industry insights spread across 120 pages with 64 market data tables & 9 figures & charts from the report, "Reprocessed Medical Devices Market" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/reprocessed-medical-devices-market

Hospitals accounted for largest revenue share due to increasing requirement for reprocessed medical devices that aid in medical waste management. In addition to huge wastage produced from the operating rooms requires reduction of medical waste and management of landfills every year, this can be achieved through reprocessing. Furthermore, high number of surgical procedures performed in hospitals propels reprocessed medical devices market growth.

 U.S. held substantial revenue share owing to rising prevalence of heart disease, supportive regulatory framework, high number of medical products producers involved in the reprocessing programs. Moreover, encouraging governing policies along with established healthcare infrastructure upsurges reprocessed medical devices market growth during the forecast period. According to, Centers for Disease Control & Prevention (CDC) statistics updated in November 2017, nearly half of Americans have three risk factors of heart disease, these include high cholesterol, smoking, and high blood pressure.

China and India are anticipated to grow lucratively due to increasing investments in healthcare setup by major players along with high incidences of chronic conditions such as, cardiovascular diseases that leads to cardiac surgeries. In addition, strengthening network of distributors in developing nations stimulates reprocessed medical devices market growth.

 Companies operational in the reprocessed medical devices includes Stryker Sustainability, Vanguard, GE Healthcare, Vascular Solutions, SureTek Medical, Centurion Medical Products, Soma Technology, Hygia Health Services, Steril Med (Ethicon Endo-Surgery), Mediline ReNewal, Midwest Reprocessing Centre, Medtronic, ReNu Medical, Pioneer Medical Devices, Steripro Canada, and Siemens Healthcare.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/477

Prominent players are merging their business positions by focusing on managing Regulated Medical Waste (RMW) from landfills as well as reducing costs by adopting reprocessing and thereby, increasing business revenues. Furthermore, industry players gain tremendous benefits from reprocessing programs thereby, stimulating industry growth. For instance, in 2016, Stryker's program for reprocessing assisted health systems to save approximately 299 USD million by eliminating 12.9 USD million pounds medical waste from the landfills.

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Media Contact: Arun Hegde, Global Market Insights, Inc., +13028467766, sales@gminsights.com

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

 

SOURCE Global Market Insights, Inc.

PR Newswire
www.prnewswire.com

Last updated on: 22/03/2018

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