Refurbished Medical Equipment Market Insights:
The Refurbished Medical Equipment Market size was valued at USD 13.27 Billion in 2022, expecting a CAGR of 12.47% during the forecast period (2023-2030), and the market is projected to be worth USD 33.98 Billion by 2030.
Driver:
The increased adoption of Refurbished Medical Equipment in the Medical Devices industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Refurbished Medical Equipment also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Refurbished Medical Equipment in many sectors also boosts the market growth during the forecast period.
Refurbished medical equipment refers to medical devices or equipment that have been previously used, but have been restored to a like-new condition for resale or reuse. Refurbished equipment can include a wide range of medical devices, such as imaging equipment, surgical equipment, patient monitoring systems, and laboratory equipment. Refurbished medical equipment can provide an affordable alternative to purchasing new equipment, especially for smaller healthcare facilities or those operating on a limited budget. Refurbished equipment can also provide a sustainable solution for reducing medical waste and environmental impact.
Refurbished Medical Equipment Market Research Report” was just released by Market Research Community. It is divided into several categories, including By Product (Medical imaging equipment, Operating room and surgical equipment, Patient monitors, Cardiology, Urology, Neurology, Intensive care, Endoscopy), By End Use (Hospitals, Clinics, Diagnostic centers, Others), and companies (Johnson & Johnson Services, Inc., GENERAL ELECTRIC COMPANY, Koninklijke Philips N.V., CANON MEDICAL SYSTEMS CORPORATION, Siemens Healthcare Private Limited, Block Imaging, SOMA TECH INTL, Hilditch Group Ltd, Integrity Medical Systems, Inc., Radiology Oncology Systems., Master Medical Equipment), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 12.47%, over the forecast period of 2023–2030.
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | 33.98 Billion |
| CAGR (2023-2030) | 12.47% |
| By Product | Medical imaging equipment, Operating room and surgical equipment, Patient monitors, Cardiology, Urology, Neurology, Intensive care, Endoscopy |
| By End Use | Hospitals, Clinics, Diagnostic centers, Others |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | Johnson & Johnson Services, Inc., GENERAL ELECTRIC COMPANY, Koninklijke Philips N.V., CANON MEDICAL SYSTEMS CORPORATION, Siemens Healthcare Private Limited, Block Imaging, SOMA TECH INTL, Hilditch Group Ltd, Integrity Medical Systems, Inc., Radiology Oncology Systems., Master Medical Equipment. |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Refurbished Medical Equipment market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Johnson & Johnson Services, Inc., GENERAL ELECTRIC COMPANY, Koninklijke Philips N.V., CANON MEDICAL SYSTEMS CORPORATION, Siemens Healthcare Private Limited, Block Imaging, SOMA TECH INTL, Hilditch Group Ltd, Integrity Medical Systems, Inc., Radiology Oncology Systems., Master Medical Equipment.
Market Segment Analysis:
By Product
- Medical imaging equipment
- Operating room and surgical equipment
- Patient monitors
- Cardiology
- Urology
- Neurology
- Intensive care
- Endoscopy
By End Use
- Hospitals
- Clinics
- Diagnostic centers
- Others
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2022, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Refurbished Medical Equipment industries in the region.
Key Refurbished Medical Equipment Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Refurbished Medical Equipment Market segments.
– Largest Market Share Held by Industry to Industry for Refurbished Medical Equipment
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Refurbished Medical Equipment Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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Research Methodology
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