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:7/20/2017)... Minneapolis, Minnesota (PRWEB) , ... July 19, 2017 ... ... in healthcare experience, recently hiring senior healthcare project manager, Josh Christensen. As a ... the nation and looks to further its healthcare resume in the Midwest with ...
(Date:7/20/2017)... ... July 20, 2017 , ... “Lucky the Buffalo and Her Adventures”: a collection of heartwarming children’s ... Bieniek. Edward Steven Bieniek Jr. was born in Toledo, Ohio. He attended Woodward ... tech. He is married to a brilliant woman with a caring heart named Tiina, ...
(Date:7/18/2017)... ... ... an international clinical trial, led in part by a UC Davis School of Medicine expert, ... for a subgroup of patients. , In a paper just published online in the journal ... 18 countries describe the clinical benefit of using the drug ataluren for a certain group ...
(Date:7/18/2017)... ... , ... Heritage Woods of Benton, a Gardant affordable assisted living community is ... , The community, which is located at 1305 Bailey Lane in Benton, Illinois, serves ... maintain their independence. , The lunch menu will include Hawaiian chicken, meatballs and coleslaw. ...
(Date:7/17/2017)... ... July 18, 2017 , ... ... PICOPLUS 450 ps pulse width and a new published paper entitled ‘Pattern ... in tissue-mimicking phantom’ featured in Nature’s specialty journal Scientific Reports May 08, ...
Breaking Medicine News(10 mins):
(Date:6/30/2017)... June 30, 2017  AVACEN Medical (AVACEN) announced the publication of ... describes the use of its AVACEN Treatment Method to ... fibromyalgia. ... AVACEN Medical ... chronic widespread pain. It affects approximately 200 to 400 million people worldwide ...
(Date:6/27/2017)...  Therapix Biosciences Ltd. (Nasdaq: TRPX ) ... development of cannabinoid-based drugs, today announced that the Company ... New York, NY on Wednesday, ... offering (IPO) of American Depository Shares (ADSs) listed on ... Dr. Elran Haber, Ph.D., Chief Executive Officer of Therapix, ...
(Date:6/20/2017)... Netherlands and LAGUNA HILLS, Calif. ... the presentation of new data that validate the use ... risk stratify patients with multiple myeloma (MM). In a ... the European Hematology Association (EHA) in Madrid, ... value of MMprofiler for identifying high-risk elderly patients. ...
Breaking Medicine Technology: