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Worldwide Reprocessed Medical Devices Market forecasts on regional growth, industry players and more

Author : Rahul Sankrityayan | Published Date : 2019-05-15 

In an era that requires almost all business sectors to follow sustainable growth strategies, reprocessed medical devices market has established quite a remarkable footprint own on the global horizon. Regarded as one of the most pivotal niche verticals of the overall healthcare and medical devices industry, this business space has assisted the medical care providers to reduce medical waste and enhance their environmental performance. Over the past few years, a number of acclaimed reprocessed medical devices market participants have focused on revamping the existing reprocessing programs to lower the costs of medical devices drastically. Add to it, the rapid pace at which the healthcare providers are adopting reprocessed medical devices to match up with the standards set by original equipment manufacturers for cleanliness, functionality, and sterilization would vigorously impel the global reprocessed medical devices industry size expansion in the forthcoming years. The efficacy of all the aforementioned statements can be validated by glancing through the latest research report put forth by Global Market Insights, Inc., which estimates that the overall reprocessed medical devices market would register an impressive y-o-y growth rate of more than 14 percent over the period of 2017-2024.

U.S. to continue its streak of leading the regional reprocessed medical devices industry advancement

Taking into account the rising prevalence of chronic diseases, a marked increase in consumer awareness levels, supportive regulatory policies, the gradual increase in the involvement of medical product manufacturers in reprocessing activities have driven the U.S. reprocessed medical devices market share augmentation. Below mentioned are a few instances that go on to demonstrate the future growth trajectory of the U.S. reprocessed medical devices industry, which accounted for the largest revenue share in 2016.

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  • Medline ReNewal, one of the foremost firm operating in U.S. reprocessed medical device market, has recently built a new USD 12 million manufacturing facility in Desert Rise Industrial Park, Redmond. The Illinois-based company has been involved predominantly in reprocessing, sterilizing, and washing a host of medical devices ranging from compression sleeves to electronic surgical tools. Apparently, the latest facility would accommodate Medline’s whole staff under one roof and would aid in generating new jobs in the U.S. reprocessed medical devices industry.
  • In yet another instance that highlights the growing prominence of reprocessed medical devices market in the U.S., Teleflex Incorporated has recently announced that over 200,000 ClosureFast® Catheters have been successfully reprocessed by the firm’s subsidiary, Northeast Scientific, Inc. For the record, the ClosureFast® Catheter has emerged as one of the most widely used reprocessed medical devices in the nation which is used for treating venous reflux disease.

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Considering the aforementioned aspects, it is rather imperative to take note of the fact that a plethora of lucrative opportunities awaits the overall reprocessed medical devices market over the next seven years. Apart from serving the established healthcare institutions, it has been observed that the leading stakeholders of reprocessed medical devices industry have been increasingly focusing on expanding their reach to more number of ambulatory surgical centers, smaller hospitals, and a diverse set of wellness clinics. In addition to this, strengthening network of distributors in developing nations along with rapid adoption of reprocessed medical devices is bound to have an optimistic impact on the reprocessed medical devices industry. In fact, in terms of commercialization, the worldwide reprocessed medical devices industry is projected to command a total valuation in excess of USD 3 billion by 2024, as per reliable estimates.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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