Millennium Research Group
Economic Crisis Shows Reprocessed Device Market Booming
May 05, 2009
by Joan Trombetti, Writer
In a report issued by the Millennium Research Group (MGR) "U.S. Markets for Reprocessed Devices 2009," the market growth in the United States for Reprocessed Devices is expected to exceed 12 percent annually through 2013.
The reason? Hospitals are being forced to lower their spending because of the global economic crisis and the rising cost of health care. This has led those in the health care fields to look to lower-priced products like reprocessed devices, which saves them roughly 40 to 60% than it would cost to purchase original, new manufactured equipment.
According to the American Hospital Association, hospitals in the U.S. have reported losses in the third quarter of 2008. Many of them have have laid off staff and are postponing renovations and expansions. Also, because of the economy, many patients will lose their jobs and lose their health insurance at the same time. Therefore, the pressure is on for hospitals to bring down spending, leading to the use of reprocessed devices.
MRG's U.S. Markets for Reprocessed Devices 2009 report offers 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 others.
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.
The reason? Hospitals are being forced to lower their spending because of the global economic crisis and the rising cost of health care. This has led those in the health care fields to look to lower-priced products like reprocessed devices, which saves them roughly 40 to 60% than it would cost to purchase original, new manufactured equipment.
According to the American Hospital Association, hospitals in the U.S. have reported losses in the third quarter of 2008. Many of them have have laid off staff and are postponing renovations and expansions. Also, because of the economy, many patients will lose their jobs and lose their health insurance at the same time. Therefore, the pressure is on for hospitals to bring down spending, leading to the use of reprocessed devices.
MRG's U.S. Markets for Reprocessed Devices 2009 report offers 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 others.
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.