Global Refurbished Medical Equipment Market by Product Types (Operation Theatre and Surgical Equipment, Defibrillators, Patient Monitors, Medical Imaging Equipment, Neurology Equipment, Cardiovascular and Cardiology Equipment, and Intensive Care Unit (ICU

The global refurbished medical equipment market is expected to expand at a substantial CAGR during the forecast period, 2020 – 2026. Refurbishment is a methodical process that brings used equipment to almost the same condition as new equipment. The increase in prevalence of cardiovascular diseases and cancer are the major factors driving the refurbished medical equipment market. The refurbished medical equipment market is estimated to grow in near future due to demand for low cost medical devices due to financial constraints, increase in health care sector across the globe, increase in privatization, and rise in adoption refurbished medical devices in multiple developing economies and countries across the globe. The rise geriatric population and change in life style which leads to multiple disorders is expected to expand the global refurbished medical equipment market during the forecast period. The rise in number of hospitals across the globe, cost containment pressure on health care organizations, and demand for new equipment has led to increase in demand for refurbished medical equipment around the world and this trend is expected to continue during the forecast period. The refurbished equipment allows buying of necessary devices without compromising on quality at affordable prices. Therefore, multiple health care facilities purchase refurbished medical devices and with emerging advance technology the market is expected to expand during the forecast period. Hospitals often hold back from buying refurbished devices in the fear of risking patients life and their reputation as these devices are doubted for its quality and durability and there is always a risk quality of outputs and accuracy associated with refurbished devices. The global refurbished medical equipment market is segmented into product types, end-user and regions.

Market Trends, Drivers, Restraints, and Opportunities:

• Increase in incidence of chronic diseases, rise in geriatric population, increase in preferences in the private healthcare sector for refurbished medical equipment and surge in demand for refurbished devices purchase are considered to drive the global refurbished medical equipment market during the forecast period.
• Lack of information about the refurbished equipment, risk of accuracy and quality of the product and the perception about the compromise in quality of refurbished medical equipment are considered as restraints and this can hamper the growth of the global refurbished medical equipment market during the forecast period.
• Adoption and introduction of advanced technology to reduce the risk of accuracy and quality of the product is considered as an opportunity and this, in turn will boost the global refurbished medical equipment market during the forecast period.

Scope of the Report

The report on the global refurbished medical equipment market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report. AttributesDetailsBase Year2019Historic Data2018–2019Forecast Period2020–2026Regional ScopeAsia Pacific, Europe, North America, the Middle East & Africa, and Latin AmericaReport CoverageCompany Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Global Refurbished Medical Equipment Market Segment Insights:

On the basis of product types, the global refurbished medical equipment market is divided into operation theatre and surgical equipment, defibrillators, patient monitors, medical imaging equipment, neurology equipment, cardiovascular and cardiology equipment, and intensive care unit (ICU) systems. The patient monitor equipment held the largest share in recent times ad it is expected to dominate the refurbished medical equipment market during the forecast period due to increase in awareness for chronic diseases, low product cost and advancement in technology such as invention of portable patient monitoring devices. Medical imaging equipment is estimated to expand during the forecast period. It is the process of making a visual representation of the interior of the body for medical intervention. The medical imaging equipment includes ultrasound systems, CT scanners, X-ray machines, nuclear imaging systems (pet, spect, and pet/CT), and MRI machines. Abnormality can be noticed immediately with the help of these instruments as it helps in establishing a database of physiology of internal organs and normal anatomy. Based on end-user, the global refurbished medical equipment market is split into hospitals, diagnostic centers, ambulatory surgical centers, and others. All the segments are projected to expand at a considerable growth during the forecast period due to rise and development in health care sector across the globe. On the basis of regions, the global refurbished medical equipment market is segmented into Asia Pacific, Europe, North America, Middle East & Africa, and Latin America. North America is one of the highest growing markets due rise in trend of medical tourism and increase in privatization of the healthcare sector in this region. Asia Pacific is expected to witness the highest CAGR during the forecast period due to increase in support from government in multiple developing countries in this region and efficient reimbursement policies. The health care sector is the largest sector in this region and this will boost the refurbished medical equipment market in this region during the forecast period and this, in turn is expected to increase the demand for medical imaging refurbished equipment in emerging and developed economies such as China and India.

Competitive Landscape:

The world leading players in the global refurbished medical equipment market include GE Healthcare, Agito medical A/S, DRE Inc., Block Imaging International Inc., Integrity Medical systems Inc., Everx Pvt Ltd., Siemens Healthcare systems, Radio Oncology Systems Inc., Philips Healthcare and Soma Technology, Johnson & Johnson, DMS Topline, First Source Inc. and Soma Technology.

The Global Refurbished Medical Equipment Market has been segmented on the basis of

Product Types

• Operation Theatre and Surgical Equipment
• Defibrillators
• Patient Monitors
• Medical Imaging Equipment
• Neurology Equipment
• Cardiovascular and Cardiology Equipment
• Intensive Care Unit (ICU) systems

End-user

• Hospitals
• Diagnostic Centers
• Ambulatory Surgical Centers
• Others

Regions

• Asia Pacific
• Europe
• North America
• Middle East & Africa
• Latin America