Refurbished Medical Equipment Market - Size (US$ 26.4 Billion), Share, Growth (CAGR of 12.2% ), Trends and Forecast by 2028

How Big is Refurbished Medical Equipment Market ? :

IMARC Group's latest report, titled "Refurbished Medical Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the refurbished medical equipment market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market. the global refurbished medical equipment market size reached US$ 13.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 26.4 Billion by 2028, exhibiting a growth rate (CAGR) of 12.2% during 2023-2028.

What is Refurbished Medical Equipment and Uses ? :

Refurbished medical equipment refers to used medical devices that have been restored to their original working condition or have undergone repairs, maintenance, and quality checks to meet industry standards. These pre-owned devices are an affordable alternative to new equipment, offering cost savings for healthcare providers while maintaining quality and functionality. It is crucial in expanding access to healthcare in resource-constrained settings and helping healthcare facilities with budget constraints.

Additionally, it contributes to sustainable healthcare practices by reducing electronic waste and minimizing the environmental impact associated with the manufacturing of new equipment. It also offers a cost-effective solution for healthcare facilities seeking reliable and functional equipment without compromising patient care.

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Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players being

• Philips Electronics Nederland B.V
• Block Imaging
• EverX Pty Ltd
• The General Electric Company
• Integrity Medical Systems, Inc
• Radiology Oncology Systems, Inc
• Rad Medical Associates
• Siemens Healthineers AG
• Soma Technology, Inc

Refurbished Medical Equipment Industry Growth and Demand Analysis:

The global market is majorly driven by the cost-effectiveness offered by the product. In line with this, the rising need for affordable healthcare solutions, particularly in developing countries and resource-constrained settings, drives the demand for refurbished medical equipment. Furthermore, the growth of healthcare infrastructure in developed and developing regions requires a cost-effective approach to equipping medical facilities, boosting the demand for refurbished equipment. Apart from this, the continuous advancement of medical technology leads to the rapid replacement of older equipment. Refurbished medical equipment provides an affordable means to access reliable devices with adequate functionality, catalyzing the market.

Moreover, the escalating focus on sustainable healthcare practices and reducing electronic waste drive the demand for refurbished medical equipment as a more environmentally friendly option. Besides, the regulatory bodies increasingly recognize the value and quality of refurbished medical equipment, leading to supportive regulations and standards encouraging its use. Additionally, the rising partnerships between healthcare providers and refurbishment companies enable the efficient supply and distribution of refurbished medical equipment, driving the market growth. Healthcare providers are becoming more aware of the benefits and reliability of refurbished medical equipment, leading to greater acceptance and adoption, further strengthening the market.

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Key Market Segmentation:

Breakup by Product Type:

• Medical Imaging Systems
o Computed Tomography Systems
o MRI Systems
o X-ray, C-arm & Radiography Equipment
o Ultrasound Systems
o Mammography Equipment
o Nuclear Medicine Devices
o Others
• Operating Equipment and Surgical Devices
o Anesthesia Machines and Agent Monitors
o Endoscopes and Microscopes
o Vascular Closure Devices
o Electrosurgical Units
o Altherectomy Devices
o Others
• Others
o Patient Monitoring Devices
o Defibrillators
o Coagulation Analyzers
o Neurology Equipment
o Endoscopy Equipment
o Others

Breakup by Application:

• Diagnostic Imaging Systems
• Minimally Invasive Devices
• Biotechnology Instruments
• Others

Breakup by End-User:

• Hospitals and Clinics
• Diagnostic Centres
• Ambulatory Surgical Centres
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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