Refurbished Medical Devices Market 2021 Research and New Innovations in Medical Sector- Agito medical A/S, Avante Health Solutions, Block Imaging International, Inc., Everx Pvt Ltd

Global Refurbished Medical Devices Market Size and Forecast to 2021 – 2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data. The research analysts provide a detailed description of the value chain and its distributor analysis. This Market study provides comprehend Refurbished Medical Devices data that enhances the understanding, scope, and application of this report.

The study includes market share analysis and profiles of players such as Agito medical A/S, Avante Health Solutions, Block Imaging International, Inc., Everx Pvt Ltd., GE Healthcare, Integrity Medical systems Inc., Koninklijke Philips N.V., Radio Oncology Systems Inc., Siemens Healthcare Systems, Soma Technology, Hilditch Group.

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The Refurbished Medical Devices market is expected to be valued at approximately 10,130 million in 2020 and expected to reach USD 20,210 million in 2026, witnessing a CAGR of 12.2% over the forecast period.

Market Trends:

Medical Imaging Equipment is expected to hold a Significant Market Share in the Product Type

Medical imaging is the process of making a visual representation of the interior of the body for medical intervention. The usage of medical imaging devices is expected to slightly decline due to the sudden drop in hospital visits. Furthermore, as per the issued guidelines of the American College of Radiology, the United States, CT-scanners and x-rays are not an appropriate first-line diagnostic tool for COVID-19.

These instruments help in establishing a database of the normal anatomy and physiology of internal organs so that any abnormality can be noticed immediately and as their technological complexity increases, the total cost of it also increases. Hence, refurbished versions of these products provide greater options to the customers. For instance, Summus Medical Solutions are retail partners of Philips which offer Philip's C-arms refurbished medical systems such as BV Pulsera, BV Endura, Philips Veradius, and Philips BV Libra. Hence, the availability of such technologically advanced systems at cheaper rates is expected to drive the market in this segment.

The majority of the clinics and hospitals that have purchased, used, or refurbished medical equipment generally have neutral-to-positive experiences with the purchase. Most end users have been found to indicate that they purchased used or refurbished equipment due to budgetary constraints.

Market Segmentation:

By Types:

Refurbished Radiation Oncology Systems
Refurbished Minimally Invasive Devices
Refurbished Biotechnology Instruments
Refurbished Diagnostic Imaging Devices
Others

By Applications:

Hospitals
Clinics
Others

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Regional Analysis:

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

Asia-Pacific region is expected to show the fastest growth of the refurbished medical devices market. Amongst 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, Malaysian Medical Device Authority (MDA) has 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 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.The increasing number of hospitals and diagnostic centers, with increasing focus on rural development, both by government and private organizations, led to a great demand for refurbished medical instruments.

The study objectives of this report are:

To study and analyze the global Refurbished Medical Devices size (value and volume) by the company, key regions/countries, products and application, history data from 2020 to 2025, and forecast to 2026.
To understand the structure of Refurbished Medical Devices by identifying its various sub-segments.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
Focuses on the key global Refurbished Medical Devices manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
To analyze the Refurbished Medical Devices with respect to individual growth trends, future prospects, and their contribution to the total market.
To project the value and volume of Refurbished Medical Devices submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.

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