Global Reprocessed Medical Devices Market: Snapshot
Reprocessing is important part of the medical device life cycle, in both developed and developing countries globally. Reprocessing of medical devices is a method of cleaning, testing, disinfecting, remanufacturing, sterilizing, packaging and labeling of a used, expired, and undamaged medical device in order to make it patient-ready and significantly reduced cost. Reprocessing of medical devices in emerging nations is focused on reducing cost of hospital supply, which leads to compromisation with the safety of patients.
According to the report by Transparency Market Research (TMR), the global reprocessed medical devices market registered the revenue of about US2.7 mn in 2015 and is expected to expand at a CAGR of 14.9 % over the forecast period from 2016 and 2024 to attain the value of around US.35 bn by the end of 2024.
The introduction of guidelines by the FDA, medical device reprocessing has experienced increase in adoption gradually across the globe. Thus, most hospitals and healthcare facilities outsource medical device reprocessing to qualified third party service providers.
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