A new market report published by Transparency Market Research is Reprocessed Medical Devices Market (Type of Devices: Cardiovascular, General Surgery, Laparoscopic, Orthopedic and Gastroenterology Devices) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020

According to the Association of Medical Device Reprocessors (AMDR), more than 3,000 hospitals in the U.S. use reprocessed medical devices, due to which, almost 13,000 tons of medical waste has been eliminated to date. Moreover, approximately USD 2 billion to USD 3 billion worth medical expenditure could be saved by using reprocessed medical devices in the U.S. every year, and a typical hospital could save around USD 500,000 to USD 2 million per year. Hence, huge cost savings from using reprocessed medical devices has attracted several hospitals in adopting these devices. This factor is driving the growth of the market, especially in countries such as the U.S. and Canada. Moreover, the prices of reprocessed medical devices are observed to be almost half of the original equipment, which makes them affordable for procurement, thereby spurring the demand.

Europe is estimated to witness the fastest growth rate (more than 15%) due to various factors such as growing demand for reprocessed medical devices and awareness about the potential savings in healthcare. At present, the European Union neither prohibits nor encourages the use of reprocessed medical devices in hospitals and healthcare facilities. However, with the introduction of uniform regulations on medical device reprocessing, the region is expected to experience remarkable market growth during the forecast period. – See more at:–transparency-market-research/40594#sthash.t3SWHDxx.dpuf

Read More.