Medical Device Reprocessing Market to Reach $1.7 Billion by 2022 - Increased Efforts Towards Reducing Regulated Medical Waste - Research and Markets
DUBLIN, June 26, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Medical Device Reprocessing Market by Product (Reprocessed Device (Catheter, Endoscope, Laparoscopic Instruments), Service), Application (Cardiology, Gastroenterology, Arthroscopy, Orthopedic, Anesthesia) - Global Forecast to 2022" report to their offering.
The global medical device reprocessing market is projected to reach USD 1,754.0 Million by 2022 from USD 823.5 Million in 2017, at a CAGR of 16.3%.
The growth of this market is majorly driven by the increased utilization of the low priced reprocessed medical devices as compared to new devices, increased efforts towards reducing regulated medical waste (RMW), and rising number of surgical procedures associated with the growing prevalence of chronic diseases. However, the risk of transmission of surgical site infections associated with the use of reprocessed devices may hinder the growth of the market to a certain extent.
The reprocessing practices are regulated by various regional regulatory authorities. The changing regulatory scenario favoring medical device reprocessing in a number of countries, such as France and Japan, will open up new areas of opportunity for market players. For example, till 2016, the outsourcing of medical device reprocessing was prohibited in France; however, the European Union (EU) Regulations (Article 17), released on April 5, 2017, mandated the use of third-party reprocessing services by all French hospitals. These regulations are expected to be implemented in France by 2020. Similarly, Japan does not currently have any regulations for the reprocessing of single-use medical devices. Therefore, regulatory authorities, such as the Ministry of Health, Labor and Welfare (MHLW) (Japan), in collaboration with the FDA (U.S.), are focusing on generating new medical device reprocessing guidelines for Japan.
The report analyzes the medical device reprocessing market by product & service, type of medical device, application, and region.
Companies Mentioned
- Agito Medical A/S (Denmark)
- Centurion Medical Products Corporation
- Hygia Health Services Inc.
- Innovative Health Llc. (U.S.)
- Johnson & Johnson (J&J) (Sterilmed Inc.)
- Medline Renewal
- Medtronic Plc
- Nescientific Inc. (U.S.)
- Pioneer Medical Devices Ag
- Renemedical Inc. (U.S.)
- Renu Medical Inc.
- Steripro Canada Inc.
- Stryker Corporation
- Suretek Medical
- Synergy Health Plc (U.K.).
- Vanguard Ag
- Vascular Solutions Inc.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Regulatory Analysis
7 Global Medical Device Reprocessing Market, By Product & Service
8 Global Medical Device Reprocessing Market, By Type of Medical Device
9 Global Medical Device Reprocessing Market, By Application
10 Global Medical Device Reprocessing Market, By Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/research/4ldb4c/medical_device
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