Tue. Dec 7th, 2021

Increasing number of hospitals are expected to drive the growth of global refurbished medical equipment market.

According to TechSci Research report, “Global Refurbished Medical Equipment Market By Type (Operating Room Equipment & Surgical Equipment, Patient Monitors, Defibrillators, Medical Imaging Equipment, Cardiovascular & Cardiology Equipment, X-Ray Machines, Neurology Equipment, Endoscopy Equipment, Intensive Care Systems, Neonatal Intensive Care Systems, IV Therapy Systems, Others), By Application (Cardiology, Neurology, Urology, Oncology, Others), By Source (Domestic, Import), By End user(Hospital, Diagnostic Imaging Centers), By Company, By Region, Forecast & Opportunities, 2026”, the global refurbished medical equipment market is expected to grow at an impressive rate during the forecast period on account of the growing prevalence of chronic diseases such as cancer, diabetes, cardiovascular diseases, renal disorders, respiratory ailments, among others. This has drastically increased the patient pool and hospitalization rate thereby increasing the demand for different medical equipment required for diagnosis and treatment of these diseases. This in turn is expected to positively influence the market growth through 2026. Additionally, benefits associated with refurbished medical equipments such as easy availability, low cost, among others is further expected to fuel the market growth over the next few years. Besides, growing number of diagnostic imaging techniques is further expected to propel the market growth during the forecast period. Furthermore, rising medical tourism in different parts of the world is expected to create lucrative opportunities for the market growth over the next five years. However, lack of standardization & policies for use and sale of refurbished medical equipments can hamper the market growth during the forecast period. Also, stringent regulations on import of refurbished medical devices in certain countries can further restrict the market growth through 2026. Additionally, negative perceptions pertaining to the quality of refurbished medical devices can hinder the market growth during the forecast period.

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The global refurbished medical equipments market is segmented based on type, application, source, end user, company and region. Based on end user, the market can be split into hospitals and diagnostic imaging centers. The hospitals segment is expected to dominate the market on account of the growing adoption of refurbished medical equipments and devices in the hospitals especially in those hospitals where there are budget constraints.

Koninklijke Philips N.V., Block Imaging, Integrity Medical Systems, Inc, Fair Medical Co. Ltd., Pacific Healthcare Imaging, LLC, Hi Tech International Group, Inc., Rhombus Medical Equipment., LLC, Everx Pvt Ltd, Cielo Co., Ltd, US Medical Systems LLC are some of the leading players operating in global refurbished medical equipment industry.

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“North America is expected to dominate in the global refurbished medical equipment market during the forecast period on account of the growing prevalence of chronic diseases and a large patient pool suffering from these diseases in the region. While Asia Pacific is expected to register highest growth in the global refurbished medical equipment market owing to the privatization of healthcare industry in the region. Also, increasing demand from low budget hospitals and clinics in the region for refurbished medical equipments is further expected to propel the market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Refurbished Medical Equipment Market By Type (Operating Room Equipment & Surgical Equipment, Patient Monitors, Defibrillators, Medical Imaging Equipment, Cardiovascular & Cardiology Equipment X-Ray Machines, Neurology Equipment, Endoscopy Equipment, Intensive Care Systems, Neonatal Intensive Care Systems, IV Therapy Systems, Others), By Application (Cardiology, Neurology, Urology, Oncology, Others), By Source (Domestic, Import), By End user(Hospital, Diagnostic Imaging Centers), By Company, By Region, Forecast & Opportunities, 2026”, has evaluated the future growth potential of global refurbished medical equipment market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global refurbished medical equipment market.

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