What is Refurbished Medical Imaging Equipment Market?
Refurbished medical equipment is a device used to inspect the safety and efficiency of the used equipment. Refurbishment includes reconditioning, repair, installation of certain software/hardware updates without changing the intended use of the original device, and replacement of worn parts. It ensures all the safety parameter are met before the use of the equipment, without changing its proposed use as per the original registration. The device that is refurbished can be used for a longer period. In the healthcare industry used equipment has no quality control whereas refurbished medical equipment is put through rigorous testing. Everything is decontaminated and refinished and any damaged parts are replaced with the new ones. In this process, the equipment used is tested and upgraded parts to meet the standard and are safe and reliable.
The market study is being classified by Type (CT, MR, PET, Nuclear Medicine, Ultrasound, Surgical C-Arms, X-Ray, Cardiovascular X-Ray, Mammography and Others), by Application (Hospital, Clinic and Others) and major geographies with country level break-up. According to AMA, the Global Refurbished Medical Imaging Equipment market is expected to see growth rate of 6.2%
GE Healthcare (United States), Philips Healthcare (Netherlands), Toshiba Corporation (Japan), Hitachi Healthcare Americas (United States), Siemens Healthcare (Germany), Everx Pvt Ltd. (Australia), Dre medical, Inc. (United States), Block Imaging (United States), Integrity Medical Systems (United States), Whittemore Enterprises (United States), Soma Technology, Inc. (United States) and Radiology Oncology Systems (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Soma Technology, Inc. (United States) and Radiology Oncology Systems (United States).
The Players having a strong hold in the market are GE Healthcare, Philips Healthcare, Toshiba, Hitachi Healthcare Americas, Siemens Healthcare. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Refurbished Medical Imaging Equipment market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Refurbished Medical Imaging Equipment market by Type, Application and Region. On the basis of Type, X-Ray are dominating the market and held 34.12% of market share in the year 2019 where as Ultrasound stood as second largest market share and accounted for 18.65%.
On the basis of application, Hospital segment is dominating the market and held 71.12% of market share in the year 2019 where as Clinic segment stood as second largest market.
On the basis of geography, the market of Refurbished Medical Imaging Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Comparatively Reduced Price of the than the Brand New Imaging Equipment
- Allows Local Diagnostic Facility Providers to Minimize the Operational Cost
Market Trend
- Robust Research and Development Investment to Encourage Technological Advancements
- Local Companies Gaining Competitive Edge by Providing Refurbished Imaging Equipment
Restraints
- Might Require Maximum Maintenance Cost
- Complex Initial Establishments as well as Maximum Distribution Overheads
Opportunities
- Government Encouragements Due to Reduced Waste Generation
- Upsurging International Trading will assist in Maximizing the Overall Business Growth
Challenges
- Prerequisite of Skilled Workforce for operating the Refurbished Imaging Equipment
- Very rarely Available Warranty of Refurbished Imaging Equipment
Market Leaders and some development strategies
On February 28th, 2019, Philips expands its diagnostic imaging portfolio with the new Incisive CT platform, integrating innovations in imaging, workflow and lifecycle management. Launched at ECR 2019, Philips’ Incisive CT helps imaging departments and healthcare organizations achieve their financial, clinical and operational goals.
On February 26th, 2019, GE Renewable Energy was awarded USD 87 million contract by Nachtigal Hydro Power Company (NHPC) to provide seven 60 MW Francis turbines for the new Nachtigal hydropower plant in Cameroon. NHPC is a company jointly owned by the Republic of Cameroon, EDF, International Finance Corporation, Africa 50 and STOA. Owned and operated by NHPC, the new 420 MW hydropower plant will be located 65 kilometers away from the capital city of Cameroon.
Key Target Audience
Refurbished Medical Imaging Equipment Distributors and Traders, Medical Imaging Equipment Manufacturers, Medical Imaging Equipment Distributors, Traders and Suppliers, Healthcare Industry Associations, Government Agencies and Others
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