Market Overview:
The global refurbished medical equipment market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for refurbished medical equipment due to their low cost as compared to new equipment and the growing trend of value-based healthcare. The global refurbished medical imaging equipment market is expected to grow at a CAGR of 8.0% during the forecast period from 2018 to 2030.
Product Definition:
Refurbished medical equipment is pre-owned medical equipment that has been restored to its original specifications. It is important to use refurbished medical equipment because it can help save money and resources.
Medical Imaging Equipment:
Medical imaging equipment is an umbrella term for diagnostic devices that involve the use of X-rays, ultrasound, CT scan and MRI. Medical imaging has been a growing field in recent years due to technological advancements and increasing demand for minimally invasive procedures. The refurbished medical equipment market is booming at present owing to the economic downturn and global recession which reduced healthcare spending by consumers as well as government agencies.
Operating Room and Surgical Equipment:
The global refurbished medical equipment market is expected to grow at a lucrative rate during the forecast period. The refurbished medical devices are those which have been previously used but are still in good condition and can be reused for further operations. These devices include operating room & surgical equipment, endoscopes, diagnostic imaging systems, defibrillators & cardiac monitors and other such products.
Application Insights:
The hospital application segment led the global refurbished medical equipment market in 2017. This is attributed to a high number of surgeries and rising healthcare expenditure, especially in Europe and North America. Furthermore, an increase in the number of hospitals due to growing population has also positively influenced segment growth. For instance, according to WHO estimates, there will be around 300-500 new hospitals constructed every year until 2030 globally. However, with technological advancements and increasing competition among manufacturers for market share; this trend may change over the next few years as various players are focusing on niche segments that offer higher margins than general products do.
Regional Analysis:
North America dominated the global market in 2017. The presence of well-established healthcare infrastructure, high awareness levels coupled with relatively higher health expenditure are some factors responsible for its large share. Furthermore, growing preference for cost-saving measures and efforts by manufacturers to penetrate into untapped areas are anticipated to drive the regional market further.
Asia Pacific is expected to be the fastest growing region over the forecast period owing to rising medical tourism and improving healthcare infrastructure in economies including India, China, Thailand, Malaysia etc., which will lead to an increase in demand for refurbished medical devices from these regions.
Growth Factors:
- Increasing demand for refurbished medical equipment owing to the high cost of new equipment
- Proliferation of online marketplaces for refurbished medical equipment, which is making it easier for buyers to find and purchase equipment
- The increasing popularity of leasing and renting refurbished medical equipment as a more economical option than buying new equipment
- The growing number of hospitals and clinics that are choosing to buy refurbished medical equipment as a way to save money on their budget
- The increasing awareness among healthcare professionals about the benefits of using refurbished medical
Scope Of The Report
Report Attributes
Report Details
Report Title
Refurbished Medical Equipment Market Research Report
By Type
Medical Imaging Equipment, Operating Room and Surgical Equipment, Monitoring Equipment, Defibrillators, Cardiovascular and Cardiology Equipment, IV Therapy Systems, Neurology Equipment, Endoscopy Equipment, Other
By Application
Hospital, Clinic, Other,
By Companies
GE Healthcare, Siemens Healthcare, Philips Healthcare, Ultra Solutions, Agito Medical, Soma Technology, Block Imaging, Whittemore Enterprises, Radiology Oncology Systems, 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
241
Number of Tables & Figures
169
Customization Available
Yes, the report can be customized as per your need.
Global Refurbished Medical Equipment Market Report Segments:
The global Refurbished Medical Equipment market is segmented on the basis of:
Types
Medical Imaging Equipment, Operating Room and Surgical Equipment, Monitoring Equipment, Defibrillators, Cardiovascular and Cardiology Equipment, IV Therapy Systems, Neurology Equipment, Endoscopy Equipment, Other
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, Other,
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
- Radiology Oncology Systems
- Integrity Medical Systems
- TRACO
Highlights of The Refurbished Medical Equipment 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:
- Medical Imaging Equipment
- Operating Room and Surgical Equipment
- Monitoring Equipment
- Defibrillators
- Cardiovascular and Cardiology Equipment
- IV Therapy Systems
- Neurology Equipment
- Endoscopy Equipment
- Other
- By Application:
- Hospital
- Clinic
- Other
- 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 Equipment 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.
How you may use our products:
- Correctly Positioning New Products
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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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?
Refurbished medical equipment is used medical equipment that has been returned to the manufacturer or a certified refurbisher for repair, inspection and/or replacement of parts.
Some of the major players in the refurbished medical equipment market are GE Healthcare, Siemens Healthcare, Philips Healthcare, Ultra Solutions, Agito Medical, Soma Technology, Block Imaging, Whittemore Enterprises, Radiology Oncology Systems, Integrity Medical Systems, TRACO.
The refurbished medical equipment market is expected to grow at a compound annual growth rate of 7.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Refurbished Medical Equipment Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Refurbished Medical Equipment Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Refurbished Medical Equipment Market - Supply Chain
4.5. Global Refurbished Medical Equipment Market Forecast
4.5.1. Refurbished Medical Equipment Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Refurbished Medical Equipment Market Size (000 Units) and Y-o-Y Growth
4.5.3. Refurbished Medical Equipment Market Absolute $ Opportunity
5. Global Refurbished Medical Equipment Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Refurbished Medical Equipment Market Size and Volume Forecast by Type
5.3.1. Medical Imaging Equipment
5.3.2. Operating Room and Surgical Equipment
5.3.3. Monitoring Equipment
5.3.4. Defibrillators
5.3.5. Cardiovascular and Cardiology Equipment
5.3.6. IV Therapy Systems
5.3.7. Neurology Equipment
5.3.8. Endoscopy Equipment
5.3.9. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Refurbished Medical Equipment Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Refurbished Medical Equipment Market Size and Volume Forecast by Application
6.3.1. Hospital
6.3.2. Clinic
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Refurbished Medical Equipment Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Refurbished Medical Equipment Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Refurbished Medical Equipment Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Refurbished Medical Equipment Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Refurbished Medical Equipment Demand Share Forecast, 2019-2026
9. North America Refurbished Medical Equipment Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Refurbished Medical Equipment Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Refurbished Medical Equipment Market Size and Volume Forecast by Application
9.4.1. Hospital
9.4.2. Clinic
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Refurbished Medical Equipment Market Size and Volume Forecast by Type
9.7.1. Medical Imaging Equipment
9.7.2. Operating Room and Surgical Equipment
9.7.3. Monitoring Equipment
9.7.4. Defibrillators
9.7.5. Cardiovascular and Cardiology Equipment
9.7.6. IV Therapy Systems
9.7.7. Neurology Equipment
9.7.8. Endoscopy Equipment
9.7.9. Other
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Refurbished Medical Equipment Demand Share Forecast, 2019-2026
10. Latin America Refurbished Medical Equipment Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Refurbished Medical Equipment Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Refurbished Medical Equipment Market Size and Volume Forecast by Application
10.4.1. Hospital
10.4.2. Clinic
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Refurbished Medical Equipment Market Size and Volume Forecast by Type
10.7.1. Medical Imaging Equipment
10.7.2. Operating Room and Surgical Equipment
10.7.3. Monitoring Equipment
10.7.4. Defibrillators
10.7.5. Cardiovascular and Cardiology Equipment
10.7.6. IV Therapy Systems
10.7.7. Neurology Equipment
10.7.8. Endoscopy Equipment
10.7.9. Other
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Refurbished Medical Equipment Demand Share Forecast, 2019-2026
11. Europe Refurbished Medical Equipment Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Refurbished Medical Equipment Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Refurbished Medical Equipment Market Size and Volume Forecast by Application
11.4.1. Hospital
11.4.2. Clinic
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Refurbished Medical Equipment Market Size and Volume Forecast by Type
11.7.1. Medical Imaging Equipment
11.7.2. Operating Room and Surgical Equipment
11.7.3. Monitoring Equipment
1.7.4. Defibrillators
11.7.5. Cardiovascular and Cardiology Equipment
11.7.6. IV Therapy Systems
11.7.7. Neurology Equipment
11.7.8. Endoscopy Equipment
11.7.9. Other
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Refurbished Medical Equipment Demand Share, 2019-2026
12. Asia Pacific Refurbished Medical Equipment Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Refurbished Medical Equipment Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Refurbished Medical Equipment Market Size and Volume Forecast by Application
12.4.1. Hospital
12.4.2. Clinic
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Refurbished Medical Equipment Market Size and Volume Forecast by Type
12.7.1. Medical Imaging Equipment
12.7.2. Operating Room and Surgical Equipment
12.7.3. Monitoring Equipment
12.7.4. Defibrillators
12.7.5. Cardiovascular and Cardiology Equipment
12.7.6. IV Therapy Systems
12.7.7. Neurology Equipment
12.7.8. Endoscopy Equipment
12.7.9. Other
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Refurbished Medical Equipment Demand Share, 2019-2026
13. Middle East & Africa Refurbished Medical Equipment Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Refurbished Medical Equipment Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Refurbished Medical Equipment Market Size and Volume Forecast by Application
13.4.1. Hospital
13.4.2. Clinic
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Refurbished Medical Equipment Market Size and Volume Forecast by Type
13.7.1. Medical Imaging Equipment
13.7.2. Operating Room and Surgical Equipment
13.7.3. Monitoring Equipment
13.7.4. Defibrillators
13.7.5. Cardiovascular and Cardiology Equipment
13.7.6. IV Therapy Systems
13.7.7. Neurology Equipment
13.7.8. Endoscopy Equipment
13.7.9. Other
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Refurbished Medical Equipment Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Refurbished Medical Equipment Market: Market Share Analysis
14.2. Refurbished Medical Equipment Distributors and Customers
14.3. Refurbished Medical Equipment Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. GE Healthcare
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Siemens Healthcare
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Philips Healthcare
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Ultra Solutions
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Agito Medical
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Soma Technology
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Block Imaging
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Whittemore Enterprises
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Radiology Oncology Systems
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Integrity Medical Systems
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. TRACO
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12.
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
