Refurbished Medical Equipment Global Market Rising Trends, Industry Size, Share Report, Growing Demand and Business Opportunities And Forecast 2024-2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Refurbished Medical Equipment Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $28.71 billion In 2028 At A CAGR Of 15.6% :

The refurbished medical equipment market size has grown rapidly in recent years. It will grow from $13.74 billion in 2023 to $16.05 billion in 2024 at a compound annual growth rate (CAGR) of 16.8%. The growth in the historic period can be attributed to cost containment in healthcare, rising demand for affordable healthcare, extended lifecycle of equipment, environmental sustainability, access to advanced technology at lower costs.

The refurbished medical equipment market size is expected to see rapid growth in the next few years. It will grow to $28.71 billion in 2028 at a compound annual growth rate (CAGR) of 15.6%. The growth in the forecast period can be attributed to continued cost pressures in healthcare, global health challenges and resource allocation, increasing focus on emerging markets, technology upgrades and equipment obsolescence, rise in telehealth and remote care. Major trends in the forecast period include environmental sustainability and circular economy practices, rising focus on refurbished surgical equipment, increased availability of warranty and service contracts, government initiatives supporting refurbished procurement, advancements in refurbishment technologies.

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Refurbished Medical Equipment Market Major Segments
The refurbished medical equipment market covered in this report is segmented -
1) By Product: Medical Imaging Equipment, Operating Room & Surgical Equipment, Patient Monitors, Cardiology Equipment, Urology Equipment, Neurology Equipment, Intensive Care Equipment, Endoscopy Equipment, IV Therapy Systems, Other Products
2) By Application: Diagnostic, Therapeutic
3) By End User: Hospitals, Ambulatory Care Centers, Diagnostic Imaging Centers, Other End-users

Key Driver - Rising Cancer And Cardiovascular Cases Drive Demand For Refurbished Medical Equipment

The increase in the prevalence of cancer and cardiovascular diseases contributed to the growth of the refurbished medical equipment market. For instance, in 2021, according to American Cancer Society, a US-based non-profit organization for eliminating cancer, in the US are 1.9 million new cancer cases were diagnosed and cancer deaths are estimated to be 608,570 in 2021. Furthermore, in June 2021, according to the World Health Organization, a Switzerland-based specialized agency promoting health, an estimated 17.9 million people died from CVDs, accounting for 32% of global deaths. Thus, the rising prevalence of cancer and cardiovascular diseases was a major factor driving the refurbished medical equipment market's growth.

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Prominent Trend - Collab To Redefine Pre-Owned Medical Device Solutions

Major companies are undertaking strategic alliances to maintain their strong foothold in the refurbished medical equipment market. For instance, in October 2023, AA Medical, US-based provider of sustainable solutions, partnered with MED-SELL.COM, a US-based provider of pre-owned medical devices, to redefine the pre-owned medical device and equipment solutions. This strategic alliance aims to redefine the pre-owned medical device and equipment landscape, offering a wider range of solutions and catering to diverse healthcare needs.

Refurbished Medical Equipment Market Players
Major companies operating in the refurbished medical equipment market report are Johnson & Johnson Services Inc., Siemens Healthineers AG, Koninklijke Philips N.V., Stryker Corporation, GE HealthCare Technologies Inc., Canon Medical Systems Corporation, Toshiba Medical Systems Corp, First Source Inc., US Med-Equip Inc., BC Technical Inc., Soma Technology Inc., DMS Topline Medical Inc., Agito Medical AS, Avante Health Solutions, Master Medical Equipment, US Medical Systems LLC, Everx Pvt Ltd., Hilditch Group Ltd., Rosch Medical Systems Pvt Ltd., Block Imaging International Inc., Rhombus Medical Equipment LLC, Fair Medical Co Ltd., Future Health Concepts Inc., Altima Healthcare Services Inc., Jaken Medical Inc., Bluestone Diagnostics Inc., Integrity Medical Systems Inc., FlexrayMedical ApS, Cambridge Scientific Instrument Company, Radio Oncology Systems Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the refurbished medical equipment market in 2023. Asia-Pacific is predicted to record the fastest growth over the forecast period. The regions covered in the refurbished medical equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Refurbished Medical Equipment Market Report Structure
3. Refurbished Medical Equipment Market Trends And Strategies
4. Refurbished Medical Equipment Market - Macro Economic Scenario
5. Refurbished Medical Equipment Market Size And Growth
…..
27. Refurbished Medical Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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