COVID-19 Impact on Single Use Medical Device Reprocessing Market in Healthcare Industry
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.

IMPACT ON DEMAND SIDE
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. Read in detail...