Medical Device Now
August 30, 2012
Major medtech market intelligence provider Millennium Research Group (MRG) finds that the U.S. market for reprocessed medical devices will continue to show strong growth, averaging almost 9 percent per year through 2017. According to MRG, this growth will be driven by budget-conscious hospitals seeking cost savings. Already large, this market will become increasingly significant in the coming years.
In 2012, U.S. healthcare facilities saved approximately $290 million in supply costs as a result of reprocessing cardiovascular, laparoscopic, orthopedic/arthroscopic, and gastrointestinal devices. Approximately 25 percent of hospitals reprocess at least one category of these devices, with larger hospitals significantly more inclined to reprocess, since greatest savings are found when reprocessing is done in bulk. Approximately 45 percent of hospitals larger than 250 beds reprocess at least one category of medical devices, while only 15 percent of hospitals smaller than 50 beds do. Smaller facilities are subject to more bargaining pressure from original equipment manufacturers (OEMs) and are more fearful of litigation should a reprocessed device fail…
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For more information on third-party medical device reprocessing, be sure to visit AMDR on the web or send an email to info@amdr.org.