Overview

Refurbished Medical Devices Market is estimated to value at a CAGR of over 11.6% during the forecast period 2022 to 2028.

Growing insistence for diagnostic imaging equipment that are capital intensive, increasing prioritization for environment-friendly products, rising inventory of used medical devices, growing number of hospitals and diagnostic centres are some of the key factors responsible for the growth of the market. Conversely, strict regulations on the usage and import of refurbished medical devices along with the dearth of policy standardization of selling and using refurbished equipment, increased influx of newer medical devices that are lower in cost than refurbished devices and the negative notion regarding the quality of refurbished devices shall impede the Refurbished Medical Devices Market growth.

Refurbished Medical Devices Market Segmentation:
By Product
• Medical Imaging Equipment
o X-ray Machines
o Ultrasound Systems
o MRI Machines
o CT Scanners
o Nuclear Imaging Systems
o Other Medical Imaging Equipment
• Operating Room & Surgical Equipment
o Anesthesia Machines
o Operating Room Tables & Lights
o Surgical Displays
o Electrosurgical Units
o Other Operating Room & Surgical Equipment
• Patient Monitors
o Multi-parameter Monitors
o Electrocardiography Devices
o Pulse Oximeters
o Mobile Cardiac Telemetry Devices
o Non-invasive Blood Pressure Monitors
o Fetal Monitors
o Other Patient Monitors
• Cardiology Equipment
o Heart-lung Machines
o Defibrillators
o Other Cardiology Equipment
• Urology Equipment
o Dialysis Machines
o Lithotripsy Devices
• Neurology Equipment
o EEG Machines
o EMG Machines
• Intensive Care Equipment
o Ventilators
o Infant Incubators and Warmers
• Endoscopy Equipment
• IV Therapy Systems
• Other Medical Equipment

By Application
• Diagnostic
o Cardiology
o Urology
o Neurology
o Orthopedics
o Physiology
o Emergency Medicine
o Oncology
o Obstetrics/Gynecology (OB/GYN)
o Other Diagnostic Applications
• Therapeutic
o Cardiology
o Urology
o Neurology
o Orthopedics
o Physiology
o Emergency Medicine
o Oncology
o Obstetrics/Gynecology (OB/GYN)
o Other Therapeutic Applications

By End User
• Hospitals
• Ambulatory Care Centers
• Diagnostic Imaging Centers
• Others

By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Refurbished Medical Devices Market Sample Video:

The market is fragmented into product, application, end user and region. The product segment is classified into operating room & surgical equipment, cardiology equipment, medical imaging equipment, patient monitors, neurology equipment, urology equipment, intensive care equipment, IV therapy systems, endoscopy equipment and other equipment. The medical equipment segment is anticipated to hold the largest Refurbished Medical Devices Market share and this can be credited to factors like its high usage in the clinical and healthcare sectors, its capability of lasting long, increased insistence for non-invasive imaging and early diagnosis of diseases. The procedure segment is diversified into therapeutic and diagnostic procedures. The diagnostic procedures segment is predicted to dominate the market owing to higher costs of newer medical imaging equipment, a wide application range of diagnostic imaging and approvals from regulatory bodies for using refurbished products. The end user segment is categorised into ambulatory surgical centres, diagnostic imaging centres, hospitals and other end users. The hospital segment is anticipated to lead the market, and this can be credited to rising emphasis of hospitals on offering affordable medical care, growing acceptance of refurbished medical devices.

Regional Analysis:

The Asia Pacific region is predicted to grow at a substantial rate during the forecast period and this can be credited to the rising patient population, growing privatization in the healthcare industry, higher insistence for refurbished devices in emerging nations who are unable to afford new medical equipment.

Competitive Landscape:

Some of the key market players are GE Healthcare, Siemens Healthineers, Koninklijke Philips N.V., Block Imaging, Soma Tech Intl., Avante Health Solutions, Hilditch Group, Everx Pvt Ltd., Integrity Medical Systems Inc., Radiology Oncology Systems Inc., Master Medical Equipment, US Med-Equip, Fair Medical Co. Ltd., Future Health Concepts, US Medical Systems, LLC., Nationwide Imaging Services, Pacific Healthcare Imaging, LLC, Venture Medical ReQuip, Inc., Desert Tech Medical Systems, Hi Tech International Group, Inc., Cura Healthcare, Japan Central Medical, Inc., Hoyu and Co., Ltd., Sanrad Medical Systems, Bond JAapan Co., LTtd., FlexrayMedical ApS, Amber Diagnostics, Rhombus Medical Equipment. LLC, Blue Start Limited, Cielo Co. Ltd.

FutureWise Key Takeaways:

Growth prospects
SWOT analysis
Key market trends
Key data-points affecting market growth

Objectives of the Study:

To provide with an exhaustive analysis on the global Refurbished Medical Devices Market by product, by application, by end user and by region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East and Africa
To record, evaluate and analyze competitive landscape mapping- product launches, technological advancements, mergers and expansions

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