Report : Europe Reprocessed Medical Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Cardiovascular Medical Devices, General Surgery Medical Devices, Laparoscopic Medical Devices, Orthopedic External Fixation Devices, Gastroenterology Biopsy Forceps, Non-Invasive Devices, and Others), Â and End User (Hospitals & Clinics, Ambulatory Surgery Centers, Medical Laboratories, and Others)
The cardiovascular medical devices segment by product is estimated to lead the market growth during the forecast period.
According to a new market research study of “Europe Reprocessed Medical Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, End User and Country.” The Europe reprocessed medical devices market is expected to reach US$ 1,525.69 million by 2028 from US$ 591.24 million in 2021; it is estimated to grow at a CAGR of 14.5% from 2021 to 2028. The report highlights trends prevailing in the Europe reprocessed medical devices market and the factors driving market along with those that act as hindrances.
The usage of reprocessed single-use devices (SUDs) has grown as a common practice worldwide. According to the research article "Transforming the Medical Device Industry: Road Map to a Circular Economy," published in December 2020, the healthcare system of high-income countries is primarily based on a linear supply chain that contains single-use disposable medical devices, which not only raises healthcare costs but also creates other issues such as waste and pollution. Thus, the rising use of SUDs has an indirect but significant impact on the environment and ecosystem.
In most modern nations, SUDs reprocessing is carefully regulated, with well-established reprocessing protocols by the Food and Drug Administration (FDA). Reprocessing has been regulated in Germany for over a decade, with many hospitals reporting significant cost reductions. Public authorities and the European Union (EU) accredited notified body closely monitor it. Similarly, the Medicines and Healthcare Products Regulatory Agency (MHRA) in the UK approved the use and manufacture of reprocessed single-use medical devices. It also assists insurers and hospitals in better managing and lowering healthcare costs as the healthcare system evolves. Single-use devices are to be reused according to the necessary and important requirements and information on the specific technique to allow reuse, such as the sterilization method and processes, including cleaning and disinfection. According to the Association of Medical Device Reprocessors (AMDR), reprocessing SUDs can save up to 50% of hospital costs while also helping to reduce waste. According to a recent study conducted by the Fraunhofer Institute for Environmental Safety and Energy Technology, reprocessed electrophysiology (EP) catheters can reduce the environmental affect by nearly half compared to new devices. Furthermore, these products maintain the same quality standards as originally manufactured devices, improving patient safety and driving demand for these products.
Hence, the reprocessing of SUDs assists in reducing medical waste and cost-effectiveness in the healthcare industry are the factors driving the growth of the reprocessed medical devices market.
The Europe reprocessed medical devices market, based on product, has been segmented into cardiovascular medical devices, gastroenterology biopsy forceps, orthopedic external fixation devices, laparoscopic medical devices, general surgery medical devices, non-invasive devices, and others. The Europe reprocessed medical devices market, based on end user was segmented into hospitals and clinics, ambulatory surgical centers, medical laboratories, and others. Geographically, Europe reprocessed medical devices market can be divided into Spain, Italy, UK, Germany, France and Rest of Europe.
Medline Industries, Inc., Arjo Medical Devices, Stryker Corporation, Teleflex Incorporated, Johnson and Johnson Services, Inc., 3M, STERIS plc., Cardinal Health Inc and Vanguard AG are among the leading companies operating in the Europe reprocessed medical devices market.
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