Market Reports World estimates the European single-use medical device reprocessing market will register a CAGR of 6.1% during the forecast period of 2018 – 2023. Noting that reprocessing “helps hospitals to maintain patient care quality, while saving substantial amounts of money,” the report also estimates that, “with better regulatory policies in Germany, a higher quality of reprocessed devices is available in the market,” and that “raises the market share during the forecast period compared to other countries in this region.” Full release.
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.