Refurbished MRI Systems Market Size, Share Analysis, Top Players, And Forecast To 2033

"The Business Research Company recently released a comprehensive report on the Global Refurbished MRI Systems Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The refurbished MRI systems market size has grown rapidly in recent years. It will grow from $0.70 billion in 2023 to $0.77 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to the need for cost-effective solutions, limitations in healthcare budgets, rise in overall healthcare expenditures, increasing prevalence of chronic diseases, and demand for advanced diagnostic tools.

The refurbished MRI systems market size is expected to see rapid growth in the next few years. It will grow to $1.15 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to rising demand for affordable medical devices, increasing awareness about healthcare benefits, expanding aging population demographics, government initiatives to improve healthcare, and efforts to improve healthcare access. Major trends in the forecast period include technological advancements in refurbishment processes, rising availability of certified pre-owned MRI systems, expansion of independent refurbishing companies, enhanced focus on sustainability and eco-friendly practices, and growth in online sales channels and platforms.

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Market Drivers and Trends:

The high burden of orthopedic disorders is expected to propel the growth of the oxycodone drug market going forward. Orthopedic disorders refer to a range of musculoskeletal conditions, including bones, joints, ligaments, tendons, and muscles, leading to pain, impaired mobility, and functional limitations. The rising incidence of orthopedic disorders is due to aging populations, sedentary lifestyles, obesity, sports injuries, and occupational hazards. Oxycodone drugs are utilized in orthopedic disorders to alleviate acute and chronic pain resulting from conditions such as fractures, joint injuries, or post-surgical discomfort, providing effective relief by acting on the central nervous system's pain receptors. For instance, in October 2023, according to the Institute for Health Metrics and Evaluation, a US-based research institute, the projected cases of musculoskeletal disorders (orthopedic disorders) are anticipated to rise by 115% (with a range of 107-124%) from 2020 to 2050, reaching an estimated 1,060 million prevalent cases by 2050. Therefore, the high burden of orthopedic disorders is driving the growth of the oxycodone drug market.

Major companies operating in the refurbished MRI systems market are increasing their focus on developing strategic partnerships to open refurbished MRI departments to provide patients with a more comfortable and accessible MRI experience. A refurbished MRI department is a medical facility that houses previously-owned MRI systems that have undergone thorough maintenance and upgrades to ensure optimal performance, providing cost-effective imaging services to patients. For instance, in April 2021, Surrey and Sussex Healthcare NHS Trust (SASH), a UK-based trust that provides acute and complex services at East Surrey Hospital, in partnership with InHealth Group, a UK-based provider of diagnostic and healthcare solutions, opened a refurbished MRI department with new wide bore scanners at East Surrey Hospital. This features state-of-the-art Siemens Sola MRI scanners and a ceiling-mounted MRI injector system, offering a modern clinical environment operating from 7 a.m. to 10 p.m. Monday to Friday, enhancing patient accessibility. The adoption of wide-bore MRI scanners and cutting-edge technology in partnership with InHealth signifies a significant advancement in the refurbished MRI systems market, prioritizing patient comfort, accessibility, and imaging quality and setting a benchmark for cost-effective upgrades in hospitals.

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Major Key Players of the Market:

Hitachi Ltd., Siemens Healthineers, Koninklijke Philips N.V., GE Healthcare, Hologic Inc., Canon Medical Systems Corporation, Shimadzu Corporation, Onex Corporation (Carestream Health), Cameco Corp., Barco N.V., First Source Inc., Oxford Instruments Healthcare, Esaote SpA, Nordion Inc., Block Imaging International Inc., Meridian Leasing, Radio Oncology Systems Inc., Soma Technology Inc., Amber Diagnostics, Innovative Imaging Technologies, Avante Health Solutions, Integrity Medical Systems Inc., LBN Medical, DirectMed Parts & Service LLC, EverX Pty Ltd., Atlantis Worldwide LLC, BMI Biomedical International, TRACO Medical, Tekyard Medical

Refurbished MRI Systems Market 2024 Key Insights:

• The refurbished MRI systems market size is expected to see rapid growth in the next few years. It will grow to $1.15 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%.
• The Increasing Demand For Healthcare Services Drives The Refurbished MRI Systems Market
• Increasing Focus On Strategic Collaborations In The Refurbished MRI Market
• North America was the largest region in the refurbished MRI systems market in 2023

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