Refurbished Medical Equipment Market Scope
The remanufacturing of medical devices is a growing phenomenon within the health-care industry. The types of devices that are currently refurbished range from machines such as neonatal monitors and anesthesia vaporizers to devices used in surgery, such as forceps, endoscopes, and cystoscopes. Many firms are also restoring used disposable devices, such as catheters and surgical cutting instruments and accessories. Regardless of the product type, medical device remanufacturing carries an indisputable benefit--reduced health-care costs.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | GE Healthcare (United States), Siemens AG (Germany), Koninklijke Philips N.V. (Netherlands), DRE Medical, Inc. (United States), Agito Medical A/S (Denmark), Soma Technology, Inc. (United States), Block Imaging International, Inc. (United States), Whittemore Enterprises (United States) and Radiology Oncology Systems, Inc. (United States) |
CAGR | % |
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Refurbished Medical Equipment market throughout the predicted period.
GE Healthcare (United States), Siemens AG (Germany), Koninklijke Philips N.V. (Netherlands), DRE Medical, Inc. (United States), Agito Medical A/S (Denmark), Soma Technology, Inc. (United States), Block Imaging International, Inc. (United States), Whittemore Enterprises (United States) and Radiology Oncology Systems, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Everx Pvt Ltd. (Australia) and Integrity Medical Systems, Inc. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Refurbished Medical Equipment market by Type , by Application (Hospital, Clinic and Other) and Region with country level break-up.
On the basis of geography, the market of Refurbished Medical 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).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In May , 2023 Siemens Healthineers and CommonSpirit Health have agreed to acquire Block Imaging. This new acquisition will provide more sustainable options and support increasing demand from U.S. hospitals, health systems, and other care sites for multi-vendor imaging parts and services.
In December 2021,To launch a brand-new CT scanner tube and HV tank repair and reprocessing plant, Block Imaging purchased Reliable Healthcare Imaging. Source: https://www.marketresearchfuture.com/reports/refurbished-medical-devices-market-1282
Market Growth Drivers:
Rising Number of Patients Suffering from Chronic Diseases such as Cardiovascular Diseases and Cancer and Increasing Medical Tourism in Developing Countries
Challenges:
Lack of Awareness about the Benefits of Refurbished Medical Devices
Restraints:
Lack of Standardization of Policies related to the Sale and Use of Refurbished Medical Devices and Quality Concern of Refurbished Medical Equipment among End Users
Opportunities:
Growing Private Healthcare Institutions on the Global and Upsurging Demand for Medical Imaging Refurbished Equipment in Emerging Economies
Key Target Audience
Manufacturing, Providers, Suppliers and Others