ANALYSIS OF COVID-19 REFURBISHED MEDICAL EQUIPMENT MARKET

Growth in global refurbished medical equipment market would be robust. It would reach a valuation of about USD 24 billion by the end of this period, creating rewarding opportunities of growth. And, it is quite pertinent to note here that a number of trends and drivers will underscore it. The on-going pandemic of COVID-19 is a particularly strong factor as hospitals across the world prepare themselves for tackling the ever-growing human and humanitarian challenge by stocking up on inventories of these cost-effective medical equipment.

Transparency Market Research notes, “Use of heart-lung machines is increasing owing to factors such as ageing population, growing prevalence of chronic illnesses and increase in cases of COVID-19 infections. However, since these imaging and critical care equipment are expensive, demand for refurbished medical equipment would grow.”

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Key Findings of Global Refurbished Medical Equipment Market Study:

On the basis of end-user, the segment for hospitals will contribute notably to growth
Cardiology segment under the applications category will expand at a high growth rate
In the product category, sizeable share will be accounted for by the medical imaging equipment segment
For a detailed analysis of global refurbished medical equipment market by product, application, end-use, and region, visit TOC https://www.transparencymarketresearch.com/report-toc/858

Key Drivers of Growth in Global Refurbished Medical Equipment Market:

Population across the world is ageing rapidly, particularly in regions of North America and Europe
Prevalence of chronic diseases is high due to poor lifestyle choices and increase in risk factors
Distribution channels across the globe are strengthening due to proactive measures taken by market players to plug in demand and supply gaps
2 billion people will mark the age group of 65 and above by 2050; the demographic will fuel growth in the market
Six in ten people in the developed region of U.S. currently suffer from one chronic illness and the ratio is set to increase, this will propel market onto a high growth trajectory
About 11 million cases of COVID-19 have been reported across the world so far leading hospitals to stock up on low-cost equipment
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