The South America single-use medical device reprocessing market is anticipated to expand at a CAGR of 4.5% during the forecast period, 2021 – 2028. The growth of the market is attributed to the rising clinical urgency to minimize the generation of medical waste in healthcare settings.
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Single-use medical device (SUD) reprocessing is cleaning, disinfection, inspection, sterilization, and repackaging of used medical devices for its re-use, and to diagnose and treat multiple patients. Reprocessed single-use medical devices is safe and effective as original medical equipment, and costs less than the same.
The use of reprocessed devices result in reduction of costs, which are associated with special handling and waste management of devices. The reuse and reprocessing of SUDs have implemented by hospitals since the late 1970s for preserving the environment and its economical nature. Glass and metal is mainly used and heavily sanitised before reusing for other purposes. Conversely, the increasing use of plastic materials has further proliferated the use of SUDs.
Most SUDs includes needles, syringes and bandages that are in direct contact with human flesh or blood that are indeed for single-use only. On the other hand, complex SUDs, which include pacemakers that are commonly used in surgical procedures, are often reprocessed as an economic benefit for the hospitals.
Healthcare facilities not only save 50% for every reprocessed SUD they purchase, but also spend less on medical disposal. Moreover, healthcare facilities also save money when original equipment manufacturers (OEMs) lower their prices to compete with third-party re-processors, thus lowering the overall cost of healthcare. This factor also results in environmental sustainability.
South America Single-use Medical Device Reprocessing Market Segment Insights
Sequential Compression Sleeves to dominant a market share
Based on devices, the global market is segmented into Class I Devices and Class II Devices. The class I devices is further divided into laparoscopic graspers, scalpels, tourniquet cuffs, and others. The class II devices is sub-segmented into pulse oximeter sensors, sequential compression sleeves, catheters and guidewires, and others.
The market in Brazil to exhibit a high CAGR
In terms of geographies, the market in segregated into Argentina, Brazil, Venezuela, and Rest of South America. The market in Brazil is anticipated to exhibit a high CAGR owing to increasing expenditure on the healthcare infrastructure. Moreover, rising prevalence of diseases and increasing investment of foreign companies are expected to proliferate the growth of the market in the country.
Competitive Landscape
Key players operating in the South America single-use medical device reprocessing Market includes Hygia, Medline ReNewal, NEScientific, Stryker Corporation, SureTek Medical, Medline Industries, Inc, ReNu Medical, and Sterilmed Inc.
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