In pre-mature 2020, after December 2019 flare-up in China, the World Health Organization (WHO) has declared COVID-19 as the world pandemic. The outbreak of the disease has quickly spread across the globe. This disease has infected millions of people and many thousands of people have died as of August 2020. Currently, no antiviral drug has been developed till date. Many researches are still being conducted on the various aspects of the already present anti-viral vaccines or drugs. Hence, the isolation of infected people, lockdown of the different states all around the world with travel restrictions is being implemented on a big picture. Therefore, the world health-care system urges the scientists to discover a solution against COVID-19. The in-silico approach of the identification and interaction of the virus is extensively taking part in the research areas.
The occurrence of coronavirus disease caused due to the severe acute respiratory syndrome coronavirus-2 (SARS-CoV-2) has spread globally. Most of the people are infected with the COVID-19 virus which has experienced mild to moderate respiratory illness and recover without requiring special treatment. Globally, as of 15th December 2020, there have been 71,351,695 confirmed cases of COVID-19 including 1,612,372 deaths reported to World Health Organization (WHO). Americas confirmed cases to be 30,656,971, standing first in the pole for the maximum confirmed cases while Europe with 22,116,845 confirmed cases standing second in position.
As per looking into inter-country analysis of confirmed cases of COVID-19, the United States of America stands first with 16,041,095 cases and India stands second in the race with 9,906,165.
The transmissible nature of COVID-19 has led to major increase in the global market of medical devices which would include single use medical device reprocessing market being used by many organizations across the stretch of land. After the outbreak of COVID-19, the global single use medical device reprocessing market has turned around from both demand and supply side. The market would not gain profits in terms of COVID-19 situation.
Single use medical device reprocessing includes the disinfection, cleaning, remanufacturing, testing, packaging and labeling and sterilization among other steps of used medical devices to be put in service again. Currently, approximately 2% of all SUDs (single use devices) on the U.S. market are eligible for reprocessing by a qualified commercial vendor. Reprocessing industry estimates indicate the amount of revenue saved by hospitals that use reprocessed devices to be USD 471.00 million in 2018.
The demand side for single use medical devices reprocessing includes the end users such as hospitals, clinics and diagnostic centers. Mostly after COVID-19 infections spreading at a higher speed, physicians and patients are concerned about their safety. So, the single use medical device reprocessing can’t be used on fully fledge terms. Now, the COVID-19 pandemic has caused people to become more apprehensive about touching surfaces and objects due to fears of surface-related disease transmission.
For instance, in Australia, the researchers found that switching from single use to reusable equipment while saved around USD 18,000 in a year and it did also reduce the CO2 emission by 10%.
So on the demand side, end users do not prefer for single use medical device reprocessing and wanting to use reusable devices hence, the market is breaking at demand side.
In a pre-COVID-19 world, medical devices manufacturers had begun to explore the potential of multi-use medical devices in a bid to boost sustainability efforts and reduce unnecessary waste in the sector.
The use of eco-friendly ways is to be COVID-19 compliant in daily lives. The use of personal protective equipment (PPE) has skyrocketed and the World Health Organization (WHO) has estimated that production will have to increase by 40% to meet the demand. These are reusable items and their market is increasing whereas the single use medical device reprocessing market is getting hit in a negative way.
As such it is being noted that the medical devices industry will continue to edge down the reusable path, pandemic or no pandemic. The single use medical device reprocessing market is breaking down on supply side due to safety concerns with equipment being used for more than one patient.
The strategic approach presented by the manufacturers of blood bags can bring a positive impact in the growth of the market. The decision taken for blood bags modelling involves studying the behavioral patterns in human societies and socio-economic systems. The major players are also trying to device certain strategies to complete the demand and to increase the long-term growth in the sales of the single use medical devices reprocessing.
For now, in present, the utmost emergency is regarding the pandemic and about the health of people. While the numbers are increasing, many industries are still adjusting these factors to grow eventually. Normal conditions aren’t available in near future until the evolution for a proper solution as vaccine against COVID-19. Till then the business or the market for various products cannot be treated as normal.
With the reality hitting us hard, it is very much required to search for some temporary solutions in order to stop the spreading of the disease. To adapt and thrive, the organizations become much faster in growth and become flexible and lithe. The pandemic has led to decrease the growth of global single use medical device reprocessing market across the globe.
Thus, the revenue generated by the key players would definitely increase. There would be even some evolution of competition among the producers for producing high quality single use medical device reprocessing. Till everything becomes next to normal which is just an assumption, the global single use medical device reprocessing market would be rising high on production and demand as well.