The US market for retired medical devices is expected to reach US$2,118.31 million by 2028, from US$763.87 million in 2021; it is expected to grow at a CAGR of 15.7% from 2021 to 2028
US Reprocessed Medical Devices Market Forecast to 2028 – Impact of COVID-19 and Global Analysis – By Product (Cardiovascular Medical Devices, General Surgery Medical Devices, Laparoscopic Medical Devices, Orthopedic External Fixation Devices, Gastro Biopsy Forceps -enterology, non-invasive devices and others) And end user (hospitals and clinics, ambulatory surgery centers, medical laboratories and others).
New York, March 17, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “US Reprocessed Medical Devices Market Forecast to 2028 – COVID-19 Impact and Regional Analysis By Product Type and End-User, and Geography” – https ://www.reportlinker.com/p06244605/?utm_source=GNW
The US market for retired medical devices is expected to reach US$2,118.31 million by 2028, from US$763.87 million in 2021; it is expected to grow at a CAGR of 15.7% from 2021 to 2028.
The growing importance of medical waste minimization and increasing use of reprocessed single-use devices is driving the growth of the US reprocessed medical device market. However, limitations of reprocessed medical devices and stringent regulatory requirements are hampering the growth of the market.
The use of reprocessed single-use devices (SUDs) has become common practice worldwide, especially in the United States. According to a research paper “Transforming the Medical Device Industry: Road Map to a Circular Economy,” published in December 2020, the healthcare system in high-income countries relies primarily on a linear supply chain that contains disposable medical devices single-use, which not only increases health care costs, but also creates other problems such as waste and pollution.
Thus, the increasing use of DUUs has an indirect but significant impact on the environment and the ecosystem.
In most modern countries, the reprocessing of SUDs is carefully regulated, with well-established reprocessing protocols by the US FDA. Single-use devices should be reused in accordance with necessary and important requirements, along with information on the specific technique to enable reuse, such as the sterilization method to be used and processes such as cleaning and disinfection.
According to the Association of Medical Device Reprocessors (AMDR), reprocessing SUDs can save up to 50% of hospital costs while helping to reduce waste. Additionally, these products maintain the same quality standards as the devices originally manufactured, which improves patient safety and drives demand for these products.
Hence, reprocessing of these SUDs helps to reduce medical waste as well as profitability in the healthcare industry, which acts as the major driver for the growth of the reprocessed medical devices market.
The US reprocessed medical devices market by product is segmented into cardiovascular medical devices, laparoscopic medical devices, gastroenterology biopsy forceps, orthopedic external fixation devices, general surgery medical devices, non-invasive devices and others. In 2021, cardiovascular medical devices held the largest market owing to the increase in the number of cardiovascular devices in the region.
Moreover, the same segment is expected to register faster growth owing to the low cost resulting in high adoption of the devices in the region.
On the basis of end user, the reprocessed medical devices market is segmented into hospitals and clinics, outpatient surgery centers, medical laboratories and others. The hospital and clinic segment held the largest market share in 2021, and the same segment is expected to register the highest market CAGR of 16.9% during the forecast period.
National Institute of Diabetes and Digestive and Kidney Diseases, Association of Medical Device Reprocessors (AMDR), Centers for Disease Control and Prevention (CDC), American Heart Association (AHA), American Cancer Society (ASC), American Society of Plastic Surgeons ( SSPA), American Red Cross, and World Health Organization (WHO) are some of the major secondary sources that are referenced while preparing the report on the US Reprocessed Medical Devices Market.
Read the full report: https://www.reportlinker.com/p06244605/?utm_source=GNW
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