Refurbished Medical Equipment Market to Witness Exponential Growth by 2012 - 2018
Refurbishment of equipments is an organized method or a process to inspect the safety & efficacy of the used equipment and ensures that all the safety parameters are met before the use of the equipment, without changing its proposed use as per the original registration. The life of medical devices also plays a vital role for qualification of refurbished equipment.
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Cost constraints are one of the major factors for driving the growth of this market. Rise in aging population has led to an increase in the number of surgical procedures globally. This has pressed the growth of this market. There has been flourishing growth of private healthcare institutions globally, which has added up to the overall growth of this market. Inefficient reimbursement policies, lack of support from government bodies, and strong regulatory practices are hampering the growth of this market.
The refurbished medical equipments market is estimated reach USD 9 billion to grow with a steady CAGR of 8.2% from 2012 to 2018.This growth is attributed to the high demand of medical imaging refurbished equipments in developed as well as emerging economies like India, China, and Brazil.
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Some of the major players in this market are original equipment manufacturers (OEMs) like GE Healthcare (U.K.), Phillips Healthcare (Netherlands), Siemens Healthcare (Germany), Johnson & Johnson (U.S.), Agito Medical (Denmark), DMS Topline (U.S.), First Source, Inc (U.S.), and Soma Technology (U.S.).
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This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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