Market Overview:
The global refurbished medical imaging device market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for refurbished medical imaging devices due to their low cost and high efficiency as compared to new devices. In addition, the growing prevalence of chronic diseases and rising geriatric population are also contributing towards the growth of this market. On the basis of type, the global refurbished medical imaging device market is segmented into X-ray devices, magnetic resonance imaging (MRI) equipment, nuclear imaging equipment, and others. The MRI equipment segment is expected to account for a major share in terms of revenue in 2018 owing to its high efficiency and accuracy as compared to other types of medical Imaging devices. On the basis on application, hospitals are expected account for a majority share in terms of revenue in 2018 followed by clinics owing ot their large patient base across different geographies.
Product Definition:
Refurbished medical imaging devices are those that have been previously used and then repaired or reconditioned for resale. They may be used in a variety of settings, including hospitals, clinics, and other healthcare facilities. Refurbished medical imaging devices can help to reduce the cost of acquiring these types of devices and can provide an alternative to purchasing new equipment.
X-Ray Device:
X-ray devices are used for imaging soft tissues in the human body. The technology is gaining popularity due to its ability to provide high quality images of internal organs with minimum exposure to radiation. Refurbished medical x-ray devices market is expected to grow at a lucrative rate during the forecast period owing to factors such as increasing geriatric population base, rising prevalence of chronic diseases and changing lifestyle pattern among other factors.
Magnetic Resonance Imaging (MRI) Equipment:
Magnetic resonance imaging (MRI) equipment is used for diagnostic and research purposes in the refurbished medical imaging devices market. MRI scanners are extremely expensive, costing several million dollars; therefore, they require regular maintenance and repair services to function properly.
Application Insights:
The hospital application segment dominated the global refurbished medical imaging device market in 2017. This can be attributed to factors such as high usage rates of these devices and rising investments by governments in the development of advanced healthcare infrastructure. For instance, according to a study published by Fitch Solutions credit rating, hospitals accounted for around 70% of overall MRI equipment spending in 2015 due to increasing demand for diagnostic facilities and technological advancements that improve efficiency.
Refurbishment or replacement of existing x-ray systems with more efficient systems is also expected to drive growth over the forecast period owing to increased patient load and staff crunch at hospitals coupled with government initiatives aimed at improving healthcare infrastructure across developing countries including China, India & Brazil which are major manufacturers of x-ray systems refurbishment or replacement.
MRI system is preferred over conventional X-rays when it comes time sensitive information needs protection (i.e.
Regional Analysis:
North America dominated the global market in 2017. This can be attributed to the presence of a large number of hospitals and clinics that use medical imaging equipment on a regular basis, which has led to an increase in demand for refurbished units. In addition, high healthcare expenditure and favorable reimbursement policies are also expected to drive regional growth over the forecast period.
Asia Pacific is expected to grow at a lucrative rate over the forecast period owing to increasing government initiatives for building new hospitals and diagnostic centers as well as improving infrastructure in countries such as India, China, Japan, Singapore & South Korea. These factors are anticipated to boost product demand during the forecast period (2018-2030).
Growth Factors:
- Increasing demand for refurbished medical imaging devices owing to the growing awareness about their benefits over new devices.
- Proliferation of private diagnostic centers and hospitals, which is expected to increase the demand for refurbished medical imaging devices in the coming years.
- Rising number of surgical procedures due to increasing incidence of lifestyle diseases such as obesity and diabetes is also anticipated to fuel the growth of the refurbished medical imaging device market in near future.
- Technological advancements in medical imaging technology that are resulting in development of more efficient and advanced devices are likely to create opportunities for growth of this market during forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Refurbished Medical Imaging Device Market Research Report
By Type
X-Ray Device, Magnetic Resonance Imaging (MRI) Equipment, Nuclear Imaging Equipment, Others
By Application
Hospital, Clinic, Others
By Companies
GE Healthcare, Siemens Healthcare, Philips Healthcare, Ultra Solutions, Agito Medical, Soma Technology, Block Imaging, Whittemore Enterprises, Integrity Medical Systems, TRACO
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
221
Number of Tables & Figures
155
Customization Available
Yes, the report can be customized as per your need.
Global Refurbished Medical Imaging Device Market Report Segments:
The global Refurbished Medical Imaging Device market is segmented on the basis of:
Types
X-Ray Device, Magnetic Resonance Imaging (MRI) Equipment, Nuclear Imaging Equipment, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Clinic, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- GE Healthcare
- Siemens Healthcare
- Philips Healthcare
- Ultra Solutions
- Agito Medical
- Soma Technology
- Block Imaging
- Whittemore Enterprises
- Integrity Medical Systems
- TRACO
Highlights of The Refurbished Medical Imaging Device Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- X-Ray Device
- Magnetic Resonance Imaging (MRI) Equipment
- Nuclear Imaging Equipment
- Others
- By Application:
- Hospital
- Clinic
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Refurbished Medical Imaging Device Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A refurbished medical imaging device is a medical equipment that has been returned to the manufacturer or distributor for service, inspection and/or replacement.
Some of the major companies in the refurbished medical imaging device market are GE Healthcare, Siemens Healthcare, Philips Healthcare, Ultra Solutions, Agito Medical, Soma Technology, Block Imaging, Whittemore Enterprises, Integrity Medical Systems, TRACO.
The refurbished medical imaging device market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Refurbished Medical Imaging Device Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Refurbished Medical Imaging Device Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Refurbished Medical Imaging Device Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Refurbished Medical Imaging Device Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Refurbished Medical Imaging Device Market Size & Forecast, 2020-2028
4.5.1 Refurbished Medical Imaging Device Market Size and Y-o-Y Growth
4.5.2 Refurbished Medical Imaging Device Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 X-Ray Device
5.2.2 Magnetic Resonance Imaging (MRI) Equipment
5.2.3 Nuclear Imaging Equipment
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Hospital
6.2.2 Clinic
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Refurbished Medical Imaging Device Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Refurbished Medical Imaging Device Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 X-Ray Device
9.6.2 Magnetic Resonance Imaging (MRI) Equipment
9.6.3 Nuclear Imaging Equipment
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Hospital
9.10.2 Clinic
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 X-Ray Device
10.6.2 Magnetic Resonance Imaging (MRI) Equipment
10.6.3 Nuclear Imaging Equipment
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Hospital
10.10.2 Clinic
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 X-Ray Device
11.6.2 Magnetic Resonance Imaging (MRI) Equipment
11.6.3 Nuclear Imaging Equipment
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Hospital
11.10.2 Clinic
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 X-Ray Device
12.6.2 Magnetic Resonance Imaging (MRI) Equipment
12.6.3 Nuclear Imaging Equipment
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Hospital
12.10.2 Clinic
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 X-Ray Device
13.6.2 Magnetic Resonance Imaging (MRI) Equipment
13.6.3 Nuclear Imaging Equipment
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Hospital
13.10.2 Clinic
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Refurbished Medical Imaging Device Market: Competitive Dashboard
14.2 Global Refurbished Medical Imaging Device Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GE Healthcare
14.3.2 Siemens Healthcare
14.3.3 Philips Healthcare
14.3.4 Ultra Solutions
14.3.5 Agito Medical
14.3.6 Soma Technology
14.3.7 Block Imaging
14.3.8 Whittemore Enterprises
14.3.9 Integrity Medical Systems
14.3.10 TRACO
