Cost Savings through Reprocessing of Single-use Devices
The lowering of the overall cost of healthcare through the reprocessing of single-use devices is the primary factor driving this market. In Germany, the reprocessing has been regulated for over a decade with a large number of hospitals showing significant cost savings. It has been strictly subjected to monitoring and surveillance by public authorities and the European Union (EU)-accredited notified body. Similarly, in the United Kingdom, Medicines and Healthcare products Regulatory Agency (MHRA) legalized the use and manufacture of reprocessed single-use medical devices for use. In addition, it helps insurers and hospitals for better management and reduced healthcare costs with the improvement of the healthcare system.
Other major factors responsible are the rising significance of medical waste minimization and the positive effects on environment sustainability.
Preconceived Notion Regarding the Quality of Reprocessed Single-use Medical Devices
Despite the fact that the reprocessed SUDs are cost-saving including waste-reduction practice, still, there are several concerns being raised, which prevent many people to build trust on these devices. The patients and their families have often raised issues regarding patient safety, patient’s informed consent, manufacturing standards for both the original manufacturer and the reprocessing company including the potential ethical issues of “single-use” devices re-use. This preconceived notion directly impedes the growth of the market
Other factors impeding this market are the decreased manufacturer’s profit and regulatory scenario.
Germany Expected to Dominate the Market
Germany is expected to dominate the market. The presence of well-established regulations and presence of major companies in SUDs such as Vanguard AG, which has several reprocessing sites in Europe, including several in Germany itself, help in the growth of this market in this country. The reprocessing helps in cost saving for items, such as the balloon catheters used in hospitals.
Major players- CENTURION MEDICAL PRODUCTS, HYGIA, JOHNSON & JOHNSON, MEDLINE INDUSTRIES, INC., NESCIENTIFIC, INC., RENU MEDICAL, STRYKER, AND VANGUARD AG, amongst others.
Reasons to Purchase the Report
- Follow the current and future of the Europe single-use medical devices reprocessing market in the developed and emerging markets.
- Examining the various perspectives of the market with the help of Porter’s Five Forces Analysis
- Identify the segment that is expected to dominate the market.
- Identify the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet (in Excel).
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1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Products and Services
5.2.5 Competitive Rivalry within the Industry
6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
6.1.1 Rising Significance of Medical Waste Minimization
6.1.2 Reprocessing Single-use Devices Results in Environment Sustainability
6.1.3 Healthcare Facilities Achieve Significant Cost Saving through Reprocessing Single-use Devices
6.2.1 Decreased Manufacturers Profit
6.2.2 Preconceived Notion Regarding the Quality of Reprocessed Single-use Medical Devices
6.4 Key Challenges
7. Market Segmentation
7.1 By Devices Type
7.1.1 Class I Devices
18.104.22.168 Sequential Compression Sleeves
22.214.171.124 Tourniquet Cuffs
126.96.36.199 Pulse Oximeter Sensors
7.1.2 Class II Devices
188.8.131.52 Cautery Electrodes
184.108.40.206 Laparoscopic Graspers
220.127.116.11 Orthopedic Blades
18.104.22.168 Drill Bits
22.214.171.124 External Fixation Clamps
126.96.36.199 Electrophysiological Cardiac Catheters
7.2 By Geography
7.2.1 United Kingdom
7.2.6 Rest of Europe
8. Competitive Landscape
8.1 Mergers & Acquisition Analysis
8.2 Agreements, Collaborations, and Partnerships
8.3 New Products Launches
9. Key Players
9.1 Centurion Medical Products
9.3 Johnson & Johnson
9.4 Medline Industries, Inc.
9.5 NEScientific, Inc.
9.6 ReNu Medical
9.8 VanGaurd AG
9.9 List not Exhaustive
10. Future of the Market