According to a new market report published by Transparency Market Research, “Reprocessed Medical Devices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020,” the global reprocessed medical devices market was valued at USD 0.78 billion in 2013 and is expected to grow at a CAGR of 19.3% from 2014 to 2020, to reach USD 2.58 billion in 2020.
Medical device reprocessing refers to the practice of inspecting, cleaning, testing, sterilizing and packaging of used and expired medical devices, such that the devices are usable and safe for their appropriate clinical application. Reprocessing of medical devices has been observed for over two decades; however, several events have changed both practitioner and regulatory views of the occasionally-maligned medical devices. Generally, there are three types of medical device reprocessing methods: third party reprocessing, non-compliant reprocessors (by health clinics) and in-house reprocessing (by laboratories and hospitals). All the reprocessed medical devices are subject to the regulatory requirements and must meet strict functionality, cleaning sterility and safety standards prior to commercialization…
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