Global Refurbished Medical Equipment Market By Product (Medical Imaging Equipment, Operating Room & Surgical Equipment, Patient Monitors, Cardiovascular & Cardiology Equipment, Defibrillators, Neurology Equipment, Neonatal Intensive-Care Equipment, Intensive Care Systems, Endoscopy Equipment, Intravenous (IV) Therapy Systems, Other Medical Equipment), End-User (Hospitals, Diagnostic Centers, Ambulatory Surgical Centers, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) - Industry Trends and Forecast to 2026
Market Analysis: Global Refurbished Medical Equipment Market
Global refurbished medical equipment market is registering a healthy CAGR of 13.30% in the forecast period of 2019-2026. This rise in the market can be attributed to the surging preference in the private healthcare sector for refurbished medical equipment.
Market Definition: Global Refurbished Medical Equipment Market
Refurbishment is an extremely structured practice for checking the effectiveness and safety of a used device so that all safety applications are cheked before the equipment can be reused without any complexities its use as per the initial registration. Its operating life also plays a crucial role in qualifying equipment as refurbished or remanufactured.
- Surging preferences in the private healthcare sector for refurbished medical equipment is driving the market growth
- Rising aging population is helping the market to grow
- Increasing incidence of chronic diseases is flourishing the growth of the market
- Increasing trend of refurbished devices purchase due to budget constrain drives the market growth
- Perception about the compromise in quality of refurbished medical equipment hinders the market growth
- Lack of information about refurbished equipment restricts the market growth
- Risk of quality and accuracy of the product hampers the market growth
Segmentation: Global Refurbished Medical Equipment Market
- Medical Imaging Equipment
- X-Ray Machines
- Ultrasound Systems
- MRI Machines
- CT Scanners
- Nuclear Imaging Systems (Pet, Spect, and Pet/CT)
- Other Medical Imaging Equipment
- Operating Room & Surgical Equipment
- Anesthesia Machines
- CO2 and Agent Monitors
- Electrosurgical Units
- Other Operating Room and Surgical Equipment
- Patient Monitors
- Multiparameter Monitors
- Electrocardiography Devices (ECG)
- Pulse Oximeters
- Noninvasive Blood Pressure Monitors
- Cardiovascular & Cardiology Equipment
- Heart-Lung Machines
- Coagulation Analyzers
- Other Cardiovascular & Cardiology Equipment
- Automatic External Defibrillators
- Other Defibrillators
- Neurology Equipment
- EEG Machines
- EMG Machines
- Neonatal Intensive-Care Equipment
- Infant Incubators and Warmers
- Intensive Care Systems
- Hardwire Systems
- Telemetry Systems
- Endoscopy Equipment
- Intravenous (IV) Therapy Systems
- Other Medical Equipment
- Diagnostic Centers
- Ambulatory Surgical Centers
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- South Africa
- Rest of Middle East & Africa
Key Developments in the Market:
- In April 2019, TTG Healthcare, LLC has completed the acquisition of Absolute Imaging Solutions. TTG has merged its equipment services into AIS, which offers services and sales to physician practices, imaging providers and hospitals. This acquisition will help in the growth of the company.
- In August 2018, Royal Philips completed the acquisition of Xhale Assurance. This purchase will distinguish its current portfolio oxygen saturation monitoring solutions and enable it to grow into an underserved clinical section.
Global refurbished medical equipment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of refurbished medical equipment market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major market competitors currently working in the global refurbished medical equipment market are General Electric Company, Koninklijke Philips N.V., Siemens, Block Imaging, DRE Medical, Radiology Oncology Systems, Soma Technology, Inc., Everx Pvt Ltd., Integrity Medical Systems, Inc., Johnson & Johnson Services, Inc., DMS Health Technologies, First Source, Inc., Canon India Pvt Ltd., Stryker, CANON MEDICAL SYSTEMS CORPORATION, FUJIFILM Holdings Corporation, Atlantis Wordwide, RMS, Master Medical Equipment, US Med-Equip, Inc, among others.
Research Methodology: Global Refurbished Medical Equipment Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global refurbished medical equipment market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)