Medical Equipment

Global Refurbished Medical Equipment Market Overview And Prospects

November 17, 2021 by The Business Research Company

Learn about the global refurbished medical equipment market through The Business Research Company, which provides information on refurbished medical equipment market size, refurbished medical equipment market drivers and restraints, refurbished medical equipment market players, the COVID-19 impact on the refurbished medical equipment market, and more.

The global refurbished medical equipment market is expected to grow from $10.77 billion in 2020 to $12.52 billion in 2021 at a compound annual growth rate (CAGR) of 16.29%. The growth in the refurbished medical equipment market is mainly due to healthcare organizations preferring for cost cutting measures. Refurbished equipment require a lower upfront capital investment, thus allowing healthcare providers to offer services at affordable costs. The market is expected to reach $20.28 billion in 2025 at a CAGR of 12.8%.

The increasing prevalence of cancer and cardiovascular diseases is expected to drive innovation in refurbished medical equipment manufacturing, thus driving the market during the forecast period.

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The refurbished medical equipment market consists of sales of refurbished medical equipment by entities (organizations, sole traders, and partnerships) that manufacture refurbished medical equipment which is used after refurbishing, restoring, and installed without changing the intended use of the first device and replacement of worn parts. These devices are checked and tested by the quality control department and they are commonly refurbished to have long-use periods.

Global refurbished medical equipment market segments include:

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, Others

By Application: Diagnostic, Therapeutic

By End User: Hospitals, Ambulatory Care Centers, Diagnostic Imaging Centers, Others

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the refurbished medical equipment market in 2020.

Major companies are undertaking strategic alliances to maintain their strong foothold in the refurbished medical equipment market.

TBRC’s refurbished medical equipment market report covers:

Major Market Players: GE Healthcare, Siemens Healthineers AG, Koninklijke Philips N.V, Integrity Medical Systems Inc., Soma Technology, Radio Oncology Systems Inc., Everx Pvt. Ltd, Canon Medical Systems Corporation, Hilditch Group, Block Imaging International Inc., Master Medical Equipment, FlexrayMedical ApS, Rhombus Medical Equipment LLC, and US Medical Systems LLC.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Refurbished Medical Equipment Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides refurbished medical equipment market overviews, analyzes and forecasts market size, share, refurbished medical equipment market players, refurbished medical equipment market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s refurbished medical equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Here is a list of similar reports from The Business Research Company:

Operating Room Equipment Global Market Report 2020-30

Surgical Sutures And Staples Global Market Report 2021

Patient Handling Equipment Global Market Report 2021

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