Navigation Links
Reprocessed Device Market Booming During the Economic Crisis
Date:5/4/2009

Market growth to exceed 12% through 2013, according to Millennium Research Group

WALTHAM, Mass., May 4 /PRNewswire/ -- According to Millennium Research Group's (MRG's) US Markets for Reprocessed Devices 2009, hospitals are under significant pressure to lower spending due to the global economic crisis and the rising cost of health care within the US. Health care providers are therefore increasingly purchasing lower-priced products, such as reprocessed devices, which cost approximately 40 to 60% less than original equipment manufactured goods. As a result, market growth for reprocessed devices will exceed 12% annually through 2013.

According to the American Hospital Association, US hospitals reported a loss in the third quarter of 2008 and therefore, many institutions are laying off staff members and reconsidering or postponing renovations or expansion. The financial outlook is also poor for patients who will lose their jobs and health insurance as the economic crisis persists. Consequently, hospitals are under significant pressure to reduce spending. The use of reprocessed devices will increase through 2013 as more hospitals, group purchasing organizations, and integrated delivery networks embrace reprocessing as an effective initiative for responding to declining economic conditions.

Coupled with concerns over rising health care costs are worries about the environment and the excessive accumulation of medical waste. For example, the California-based health care giant Kaiser Permanente began using reprocessed devices over 10 years ago. In 2007, Kaiser Permanente was able to reduce its device costs by over $3 million through the use of reprocessed devices. Positive experiences with using reprocessed devices such as this will prompt other organizations to follow suit over the next five years.

"Regulatory and legislative victories for reprocessed devices will also drive this market," says Tiffanie Demone, Senior Analyst at MRG. "After reviewing eight years' worth of FDA data, the Government Accountability Office released a report in January 2008 concluding that there is no evidence to suggest that reprocessed single-use devices create an elevated health risk for patients. If effectively followed, the FDA-approved method of reprocessing allows for only a one-in-a-million chance of a contaminant surviving the process."

MRG's US Markets for Reprocessed Devices 2009 report provides coverage of key companies including Ascent Healthcare Solutions, Boston Scientific, ClearMedical, Covidien, ETHICON, Hygia Health Services, MEDISISS, ReNu Medical, SterilMed, Stryker Endoscopy, SureTek Medical, Synthes, and more.

About Millennium Research Group

Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResourcesInc.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the health care sector. The company provides specialized industry expertise through syndicated reports, ongoing Marketrack(TM) projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.

About Decision Resources, Inc.

Decision Resources, Inc. is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the health care industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources, Inc. at www.DecisionResourcesInc.com.

All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.

    For more information, contact:

    Amy Krohn
    Millennium Research Group
    416-364-7776 x101
    akrohn@mrg.net

    Elizabeth Marshall
    Decision Resources Inc.
    781-296-2563
    emarshall@dresources.com


'/>"/>
SOURCE Millennium Research Group
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. CoreSpine Technologies(TM) Receives Clearance to Market Surgical Disc Preparation Device
2. Technologically Advanced Digital Handheld Device Positions Network Global Logistics as Technology Leader in Last Mile Delivery Solutions
3. BIOCOMs 4th Annual DeviceFest and Exhibition
4. Dr. Abbott J. Krieger Joins Avery Biomedical Devices, Inc. as Chief Clinical Liaison
5. Smallest full support heart assist device on trial at Northwestern Memorial
6. Growth Opportunity in Brazils Varicose Vein Treatment Device Market
7. Radiation device in the breast reduces complications for early stage breast cancer patients
8. PercSys Introduces Accordion CoAx(TM) Stone Control Device for Facilitating Percutaneous Kidney Stone Treatments
9. NuVasive Announces Acquisition of Cervical Total Disc Replacement Device
10. Ethicon Endo-Surgery Novel Investigational Notes and SSL Devices Featured in 15 Presentations at Sages
11. Video: U.S. Announcement - First Patients in United States Receive Innovative Device to Treat Moderate Heart Failure
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... June 27, 2016 , ... TopConsumerReviews.com recently awarded their highest five-star ... , Millions of individuals in the United States and Canada wear eyeglasses. Once considered ... both correct vision and make a fashion statement. Even celebrities use glasses as a ...
(Date:6/26/2016)... ... 2016 , ... PawPaws brand pet supplements owned by Whole Health ... the health of felines. The formula is all-natural and is made from Chinese herbs ... Cat Kidney Support Supplement Soft Chews are Astragalus Root Extract and Rehmannia ...
(Date:6/25/2016)... , ... June 25, 2016 , ... Austin residents seeking ... American College of Mohs Surgery and to Dr. Russell Peckham for medical and surgical ... effective treatment for skin cancer. The selective fellowship in Mohs Micrographic Surgery completed by ...
(Date:6/25/2016)... ... 2016 , ... As a lifelong Southern Californian, Dr. Omkar Marathe earned his ... David Geffen School of Medicine at UCLA. He trained in Internal Medicine at Scripps ... in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he had the opportunity to ...
(Date:6/24/2016)... , ... June 24, 2016 , ... A recent ... most people are unfamiliar with. The article goes on to state that individuals are ... many of these less common operations such as calf and cheek reduction. The Los ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... 24, 2016 Research and Markets has ... Companion Diagnostic Tests" report to their offering. ... Diagnostics The World Market for Companion Diagnostics ... diagnostics. Market analysis in the report includes the following: ... Vitro Diagnostic Kits) by Region (N. America, EU, ROW), 2015-2020 ...
(Date:6/24/2016)... NAMUR , Belgium , ...  (NYSE MKT: VNRX), today announced the appointment of ... Board of Directors as a Non-Executive Director, effective ... the Company,s Audit, Compensation and Nominations and Governance ... Board, Dr. Futcher will provide independent expertise and ...
(Date:6/23/2016)... 23, 2016 Research and Markets has ... - Forecast to 2022" report to their offering. ... for the patients with kidney failure, it replaces the function ... the patient,s blood and thus the treatment helps to keep ... in balance. Increasing number of ESRD patients ...
Breaking Medicine Technology: