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North America Single-use Medical Device Reprocessing market in North America has observed considerable growth over the past few years as a result of rising developments in the medical industry. Distribution of resources towards research and development activities pertaining to healthcare has significantly impacted the growth rate of North America Single-use Medical Device Reprocessing market in the previous years. Growing number of health initiatives taken by various institutions and organizations also result in the inclination of the market growth. The Centers for Disease Control and Prevention (CDC) presented data on grants provided to various healthcare initiatives in the United States. Vaccines for children received 50.87% of the total grant funding in 2018. Further, chronic disease prevention & health promotion and HIV/AIDS, viral Hepatitis, STI & TB prevention received 10.07% and 9.82% out of a total of USD 7,496,307,789 as a part of grant funding for the same year. Growing respiratory disorders among the population account for 4.28% of grant funding for immunization and respiratory diseases, while 5.66% funds were allocated towards initiatives for injury prevention and control in the region. Our study on the North America Single-use Medical Device Reprocessing market consists of an exhaustive approach towards the industry analysis comprising of the overall market size and revenue growth, recent developments in the market, growth drivers, market segmentation, opportunities and challenges that are influencing the market growth. The North America Single-use Medical Device Reprocessing market in North America region is likely to attain notable absolute $ opportunity value in 2026 as compared to the value achieved in 2019.
The study offers descriptive analysis of the North America Single-use Medical Device Reprocessing market with risk analysis covering supply and demand risk affecting the market growth along with existing and future market trends prevalent in the region. The regional aspect of this market study covers mainly two regions of North America, namely U.S. and Canada. Additionally, it includes correlation and regression analysis for the determination of relation between independent and dependent variables.
The Occupational Outlook Handbook published by the U.S. Bureau of Labor Statistics states that the employment of various healthcare occupations is estimated to grow by 14% from 2018 to 2028 with an addition of around 1.9 million jobs in the healthcare industry in United States. The median annual wage for numerous healthcare occupations for the year 2018 were recorded to be USD 158,240 for dentists, USD 84,270 for occupational therapists, USD 126,120 for pharmacists and USD 208,000 or more for physicians and surgeons. Moreover, the lowest median pay was recorded to be that of healthcare support occupations including home health aides, medical transcriptionists and occupational therapy assistants with median annual income of USD 29,740 in May 2018. Entrance of a large section of the US population in the industry on account of greater demand for medical services and increasing annual wages in the region are contributing towards enhancements in the healthcare sector.
As per the statistics provided by CDC, the personal healthcare expenditure in United States was reported to be USD 1,804 Billion in 2006, which increased to USD 2,834 Billion in 2016. On the basis of this data, the average annual percent change was reported to be 4.6% during 2006-2016 in the United States. Out of the total healthcare expenditures in 2016, hospital expenses held 38.2% share while physician and clinical expenses followed with 23.5% share. Other personal healthcare expenditures in United States in the same year included prescription drugs, dental and home healthcare, which had a percent distribution of 11.6%, 4.4% and 3.3% respectively. The North America Single-use Medical Device Reprocessing market in North America is estimated to attain a significant market size by 2028 owing to the rise in spending on personal healthcare by the US population.
A separate section in the report highlights regional scenario in market which includes North America (further segregated into U.S. and Canada).
A complete section on competitive landscape provides an understanding of the companies in current strategic report based upon various parameters which includes overview of the company, business strategy, major product offerings, key performance indicators, risk analysis, recent development, regional presence and SWOT analysis. There is a separate section which has been provided on the market share of key players in this market, as well as the competitive positioning of the players.
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