MarketResearch.biz delivers in-depth insights on the global refurbished medical equipment market in its upcoming report titled, “Global Refurbished Medical Equipment Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2026”. The global refurbished medical equipment market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the global refurbished medical equipment market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026. The report offers insightful and detailed information regarding the various key players operating in the global refurbished medical equipment market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global refurbished medical equipment market report has been segmented on the basis of product type, and region.
Refurbished medical equipment is used equipment which has been tested for functionality and defects before they are sold to hospitals or clinics. Refurbished medical equipment is usually tested, verified, cleaned calibrated and upgraded with new parts to function properly and are thus free of defects.
Adoption of refurbished medical equipment has become an attractive option for hospitals, clinics and diagnostic centers since they provide a cost advantages to healthcare providers. New diagnostic, therapeutic, and patient monitoring medical equipment such as AEDs, defibrillators, ECGs, vital sign monitors, pulse oximeters, spirometers, ventilators, IV pumps, and respiratory devices are usually sold at steep prices, which at the end are imposed on the patients. However, with refurbished equipment, the prices are cut down by half.
Other key factors which will help in growth of the global refurbished medical equipment market are increasing privatization in the healthcare sector, low reimbursement schemes for various medical treatments, rise in aging population, large patient population base, and presence of a large number of hospitals with strict budget in developing countries.
One of the critical factor is likely to have an adverse effect on the global refurbished medical equipment market is the limited acceptance associated with using used products and a negative approach towards the quality of these equipment. Moreover, lack of standardization and harmonization of policies related to the sale of refurbished medical equipment will also hamper growth of the market.
Nonetheless, leading market players such as GE Healthcare, Philips, Siemens, Agito, etc. have taken forthright initiatives to set up refurbishment facilities in both developed and developing countries, which is likely to fuel growth of the refurbished medical equipment market. One of the trend that is likely to gain momentum is rising number of partnerships and agreements among OEMs and third-party refurbishing companies to provide the refurbished medical equipment.
North America dominates the largest share of the global refurbished medical equipment market, followed by Europe. However, Asia-Pacific market is estimated to witness the highest CAGR during the forecast period, due to budget restraints on healthcare providers and rising number of partnerships and joint ventures among refurbished medical device providers.
Global refurbished medical equipment market segmentation by product type:
- Operating Room Equipment & Surgical Equipment
- Patient Monitors
- Medical Imaging Equipment
- Cardiovascular & Cardiology Equipment X-ray Machines
- Neurology Equipment
- Endoscopy Equipment
- Intensive Care Units
- IV Therapy Systems
- Other Equipment
Global refurbished medical equipment market segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2016 Estimated Year 2017 Forecast Period 2017–2026 Revenue in US$
- GE Healthcare
- Koninklijke Philips N.V.
- Siemens AG
- Block Imaging International, Inc.
- Soma Technology, Inc.
- DRE Medical, Inc.
- Agito Medical A/S
- Everx Pvt Ltd.
- Integrity Medical Systems, Inc.
- Radiology Oncology Systems, Inc.
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