Emerging Trends to Reshape the Refurbished Medical Equipment Market: Collab To Redefine Pre-Owned Medical Device Solutions as a Key Influencer

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How Large Will the Refurbished Medical Equipment Market Size By 2025?
The market size for refurbished medical equipment has experienced substantial growth recently. It's projected to increase from $15.66 billion in 2024 to $18.18 billion in 2025, equating to a compound annual growth rate (CAGR) of 16.1%. The expansion in the historic period is a result of efforts to contain healthcare costs, a boost in demand for affordable healthcare, the protracted lifespan of equipment, environmental sustainability, and the ability to utilise advanced technology at decreased expenses.

How Big Is the Refurbished Medical Equipment Market Size Expected to Grow by 2029?
Rapid expansion is anticipated in the refurbished medical equipment market in the coming years, with the market size projected to reach $32.84 billion in 2029, boasting a compound annual growth rate (CAGR) of 15.9%. This growth during the forecast period largely stems from on-going cost constraints in healthcare, prevalent global health issues, and resource distribution strategies, along with an intensified emphasis on emerging markets, technology enhancements, and equipment becoming obsolete. The era also marks a rise in telehealth and home-based care. Key trendsetters during this period are expected to be environmental sustainability measures, a heightened focus on renovated surgical instruments, an increase in warranty and servicing contracts, government-led initiatives promoting the procurement of refurbished items, and breakthroughs in refurbishing technologies.

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Which Key Market Drivers Powering Refurbished Medical Equipment Market Expansion and Growth?
The refurbished medical equipment market has seen growth due to the rising instances of cancer and cardiovascular diseases. As per the National Cancer Institute, a Federal government agency from the US, it is estimated that by May 2024, the US will see around 2,001,140 new cancer cases and it is foreseen that 611,720 people may succumb to the disease. In 2022, the global statistics showed nearly 20 million fresh cases and around 9.7 million deaths due to cancer. It is also projected that by the year 2040, new cancer cases could touch 29.9 million annually, with the death toll expected to reach 15.3 million. Consequently, the escalating rates of cancer and cardiovascular diseases significantly fuel the growth of the refurbished medical equipment market.

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Which Fast-Growing Trends Are Poised to Disrupt the Refurbished Medical Equipment Market?
Large corporations are entering into strategic partnerships to ensure their robust position in the market for refurbished medical equipment. For example, in October 2023, AA Medical, a US-based provider of sustainable solutions, formed a partnership with MED-SELL.COM, a US-based supplier of pre-owned medical devices. This partnership seeks to transform the landscape of pre-owned medical device and equipment solutions, offering a broader array of solutions and addressing a variety of healthcare requirements.

What Are the Emerging Segments in the Refurbished Medical Equipment Market?
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

Subsegments:
1) By Medical Imaging Equipment: MRI Machines, CT Scanners, Ultrasound Machines
2) By Operating Room And Surgical Equipment: Surgical Tables, Surgical Lights, Anesthesia Machines
3) By Patient Monitors: Vital Signs Monitors, Multi-parameter Monitors, Telemetry Monitors
4) By Cardiology Equipment: ECG Machines, Defibrillators, Echocardiography Machines
5) By Urology Equipment: Urodynamics Equipment, Endoscopic Equipment, Lithotripters
6) By Neurology Equipment: EEG Machines, EMG Machines, Neurostimulators
7) By Intensive Care Equipment: Ventilators, Infusion Pumps, Patient Beds
8) By Endoscopy Equipment: Endoscopes, Video Endoscopy Systems, Sterilizers
9) By IV Therapy Systems: IV Pumps, IV Sets, Infusion Systems
10) By Other Products: Laboratory Equipment, Rehabilitation Equipment, Diagnostic Equipment

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Who Are the Global Leaders in the Refurbished Medical Equipment Market?
Major companies operating in the refurbished medical equipment market include 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, Radio Oncology Systems Inc.

Which are the Top Profitable Regional Markets for the Refurbished Medical Equipment Industry?
North America was the largest region in the refurbished medical equipment market in 2024. 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.

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