Refurbished Medical Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Refurbished Medical Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

  • June 2021 •
  • 143 pages •
  • Report ID: 5889884 •
  • Format: PDF
The global refurbished medical equipment market reached a value of US$ 10.8 Billion in 2020. Looking forward, the analyst expects the market to grow at a CAGR of 12.3% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Refurbished medical equipment refers to devices that have been restored to a reusable condition without changing their original specifications. The process of refurbishment involves the uninstallation of an old machine and a thorough servicing of all parts, followed by disinfecting, cleaning, painting and replacement of damaged or old components. The device is then sold at a considerably lower price in comparison to a new machine. Owing to these benefits, refurbished equipment finds extensive applicability across hospitals, clinics and other healthcare institutions.

The increasing privatization of the healthcare sector, along with the growing requirement for low-cost medical services, is one of the key factors driving the market growth. Furthermore, factors such as the increasing prevalence of chronic diseases and rising geriatric population are also providing a boost to the market growth. Healthcare centers are increasingly opting for alternatives to procure inexpensive medical equipment to offer a wide variety of affordable treatment services to their patients without compromising on the quality. Additionally, the expanding population base suffering from critical ailments across the globe, such as cancer and cardiovascular diseases (CVDs) is also augmenting the market growth. Also, there is widespread adoption of refurbished equipment by private hospitals in the emerging nations owing to budget constraints. Moreover, the integration of devices with the Internet of Things (IoT) and extensive efforts by both government and non-governmental organizations (NGO) to make quality healthcare facilities accessible to all, are also projected to drive the market further.

Breakup by Product Type:
Medical Imaging Systems
Computed Tomography Systems
MRI Systems
X-ray, C-arm & Radiography Equipment
Ultrasound Systems
Mammography Equipment
Nuclear Medicine Devices
Operating Equipment and Surgical Devices
Anesthesia Machines and Agent Monitors
Endoscopes and Microscopes
Vascular Closure Devices
Electrosurgical Units
Altherectomy Devices
Patient Monitoring Devices
Coagulation Analyzers
Neurology Equipment
Endoscopy Equipment

Breakup by Application:
Diagnostic Imaging Systems
Minimally Invasive Devices
Biotechnology Instruments

Breakup by End-User:
Hospitals and Clinics
Diagnostic Centres
Ambulatory Surgical Centres

Breakup by Region:
North America
United States
Asia Pacific
South Korea
United Kingdom
Latin America
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being AGITO Medical, Block Imaging, Everx Pty Ltd, GE Healthcare, Integrity Medical Systems, Radiology Oncology Systems, Radmedical, Siemens Healthineers AG, Soma Technology Inc., etc. Key Questions Answered in This Report:

How has the global refurbished medical equipment market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global refurbished medical equipment market?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end-user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global refurbished medical equipment market and who are the key players?
What is the degree of competition in the industry?