Refurbished Medical Equipment Market Growth, Share, Size, Trends and Forecast (2021 - 2027)

The Refurbished Medical Equipment Market research report discusses the key drivers influencing global growth, opportunities, current challenges and the risks faced by key players and the market as a whole Refurbished Medical Equipment Market competitive landscape provides details by vendors, including company overview, company total revenue (financials), market potential, global presence, sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch.

Refurbished Medical Equipment Market is envisaged to record an expansion at the CAGR of 13% over the forecast period, 2021 – 2027

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Market Overview
The refurbished medical devices market was valued at approximately USD 10,130 million in 2020, and it is expected to reach USD 20,210 million in 2026, witnessing a CAGR of 12.2% over the forecast period, 2021-2026. Amidst this COVID-19 pandemic situation, the demand for refurbished medical devices, like mechanical ventilators, is expected to observe a significant increase. However, the healthcare industry is still coping with the massive disruption in the supply chain, which has negatively impacted the refurbished medical devices. Certain factors driving the market growth include cost containment pressure on healthcare organizations, a large inventory of old or used medical devices, the rising trend of medical tourism, and the increasing investments by private healthcare institutions.

The major players covered in the Refurbished Medical Equipment Market:

GE Healthcare, Siemens Healthcare, Philips Healthcare, Ultra Solutions, Agito Medical, Soma Technology, Block Imaging, Whittemore Enterprises, Radiology Oncology Systems, Integrity Medical Systems, TRACO

Recent Devlopment 

Philips’ largest acquisition to date was in 2007, when it acquired Respironics for $5.1B. It’s largest disclosed sale occurred in 2021, when it sold Koninklijke Philips - Domestic Appliances Business to Hillhouse Capital Management for $3.7B. Philips has acquired in 12 different US states, and 10 countries. The Company’s most targeted sectors include medical products (38%) and electrical equipment (10%).

Refurbished Medical Equipment Breakdown Data by Type

Medical Imaging Equipment

    Operating Room and Surgical Equipment

    Monitoring Equipment

    Defibrillators

    Cardiovascular and Cardiology Equipment

    IV Therapy Systems

    Neurology Equipment

    Endoscopy Equipment

    Others

Refurbished Medical Equipment Breakdown Data by Application

Hospital
Clinic
Others

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Asia-Pacific to Witness the Fastest Growth in the Refurbished Medical Devices Market

The Asia-Pacific region is expected to witness the fastest growth of the refurbished medical devices market. Amid the pandemic situation, the adoption and usage of refurbished medical devices such as patient monitoring devices are expected to increase in the emerging economies present in this region. Furthermore, the reform in regulatory policies is expected to support the market growth. For instance, in February 2020, the Malaysian Medical Device Authority (MDA) drafted guidelines related to the requirement of the document submission about refurbished medical devices. Thus, a positive impact of COVID-19 can be expected in this region. In addition, the increasing number of hospitals and diagnostic centers, with the increasing focus on rural development both by the government and private organizations, led to a great demand for refurbished medical instruments. As per the data provided by a study titled ''COVID-19 in India: State-wise estimates of current hospital beds, intensive care unit (ICU) beds and ventilators'' published in April 2020, India has around 43,486 private hospitals and about 25,778 public hospitals.

Regions and Countries Level Analysis

Regional analysis is another highly comprehensive part of the research and analysis study of the Refurbished Medical Equipment Market presented in the report. For the historical and forecast period 2016 to 2027, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global market.

The report offers an in-depth assessment of the growth and other aspects of the Refurbished Medical Equipment Market in important countries (regions), including North America (the United States, Canada, and Mexico), Europe (Germany, France, UK, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), South America (Brazil, Argentina, etc.), Middle East & Africa (Saudi Arabia, Egypt, Nigeria, and South Africa) and ROW.

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Table of Contents:

Global Refurbished Medical Equipment Market Research Report 2021

Chapter 1 - Market Overview

Chapter 2 - Industry's Global Economic Impact

Chapter 3 - Manufacturers' Global Market Competition

Chapter 4 - Revenue (Value) by Region for Global Productions

Chapter 5 - By Regions: Global Provisions (Production), Consumption, Export, and Import

Chapter 6 - Productions in the World, Revenue (Value), and Price Trends by Type

Chapter 7- Global Market Analysis by Application

Chapter 8 - Manufacturing Cost Analysis

Chapter 9 - Industrial Chain, Sourcing plan and Downstream Buyers

Chapter 10 - Marketing Strategy Analysis, Distributors/Traders

Chapter 11- Market Effect Factors Analysis

Chapter 12- Global Refurbished Medical Equipment Market Forecast

Impact of Covid-19:

The COVID-19 pandemic had a minor impact on the Refurbished Medical Equipment Market's growth. The emergence of COVID-19 has caused a substantial setback to export-oriented economies in the region, owing to the temporary shutdown of manufacturing enterprises. For example, Germany's automotive industry has been seriously harmed because the majority of the country's automobile commerce is with China and Italy. Aside from concerns with exports and imports, the growth of Germany's manufacturing industry has been limited by the closure of production sites and a slowdown in operations to combat COVID-19's spread.

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This release was published on openPR.