The Europe single-use medical devices reprocessing market has been estimated to register a CAGR of 6.1% during the forecast period of 2018-2023. Single-use device (SUD) reprocessing includes cleaning, disinfection, and sterilization. It helps hospitals to maintain patient care quality, while saving substantial amounts of money. With better regulatory policies in Germany, a higher quality of reprocessed devices is available in the market, which raises the market share during the forecast period compared to other countries in this region.
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.
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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).
Customization of the Report
This report can be customized to meet your requirements.
This product will be delivered within 2 business days.
Table of Contents
1. Introduction
5. Market Overview
6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
7. Market Segmentation
8. Competitive Landscape
9. Key Players
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Centurion Medical Products
- Hygia
- Johnson & Johnson
- Medline Industries Inc.
- Nescientific Inc.
- Renu Medical
- Stryker
- Vanguard Ag
Methodology
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