April 22, 2016 | By: Bill Scott
From the April 2016 issue of DOTmed HealthCare Business News magazine
For nearly two decades, single-use device (SUD) reprocessing has steadily gained favor among U.S. health systems looking to better control costs and reduce their environmental footprint. In fact, SUD reprocessing is projected to grow globally at a compound annual growth rate of 19.3 percent until 2020, according to a 2015 report from Transparency Market Research. This rate of growth is considerably strong, estimated to be two to three times faster than the med tech market overall. The tangible financial and environmental savings SUD reprocessing offers hospitals have helped it grow and earn a spot as one of the top health care supply chain strategies used to reduce costs and optimize resources. The increased demand has also increased competition.