Refurbished Medical Equipment Market Introduction and Overview
According to SPER Market Research, the Global Refurbished Medical Equipment Market is estimated to reach USD 30.56 billion by 2033 with a CAGR of 12.61%.
The report includes an in-depth analysis of the Global Refurbished Medical Equipment Market, including market size and trends, product mix, applications, and supplier analysis. Refurbished medical equipment are items that have been returned to a workable state without modifying their original specifications. The refurbishing procedure begins with the removal of an old machine and a comprehensive servicing of all elements, which is followed by disinfecting, cleaning, painting, and replacing broken or old components. The device is then sold for a far lesser price than a new machine. Due to these advantages, refurbished equipment is widely used in hospitals, clinics, and other healthcare facilities.
- Dec 2021: Block Imaging purchased Reliable Healthcare Imaging in order to set up a new repair and reprocessing facility for CT scanner tubes and HV tanks.
- July 2021: Hermes Medical Solutions and Radiology Oncology Systems have signed an agreement to provide cost-effective and creative solutions, including refurbished medical devices, to medical imaging and radiotherapy departments in the United States.
Market Opportunities and Challenges
Opportunities- Growing Requirement for Expensive Diagnostic Tools- The global market for refurbished medical equipment offers a sizable opportunity due to the growing need for capital-intensive diagnostic equipment. High-end diagnostic tools like laboratory analyzers and advanced imaging systems are becoming more and more necessary as healthcare practitioners work to improve patient outcomes and increase diagnostic capabilities. Refurbished medical equipment is a financially viable option that enables healthcare organizations to obtain advanced technologies at a reduced cost. This gives reconditioned equipment suppliers the chance to satisfy the growing need for premium diagnostic services while saving healthcare facilities money. This is an opportunity for the global market for refurbished medical equipment to meet the growing demand for expensive diagnostic equipment.
Challenges- Excessive Treatment Expenses- The global market for reconditioned medical equipment is severely constrained or challenged by the substantial taxes levied on the trade of medical goods internationally. Tariffs, import levies, and taxes are frequently applied by governments to the import and export of medical devices, including reconditioned equipment. Refurbished medical equipment becomes more expensive overall as a result of these high tariffs, making it less accessible to institutions and healthcare professionals. These financial obstacles may prevent refurbished equipment from being widely used, especially in areas with little resources or in healthcare facilities with tight budgets. Overcoming the obstacle of excessive taxes is essential to fostering the expansion of the worldwide market for reconditioned medical equipment and guaranteeing the availability of affordable healthcare options.
Market Competitive Landscape
The competitive landscape for Refurbished Medical Equipment is characterized by fierce rivalry between long-standing competitors and more recent arrivals. To obtain a competitive advantage, major market players provide a broad range of superior Refurbished Medical Equipment products and services. They provide a high priority on customer happiness by providing technical assistance, guarantees, and affordable solutions. Some of the Key Players are Agito Medical A/S, Block Imaging, DRE Medical, Inc., Everx Pvt Ltd., General Electric Company, Integrity Medical Systems, Koninklijke Philips N.V., Radiology Oncology Systems, Inc., Siemens AG, and Soma Technology.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Product, By Application, By End User
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | Agito Medical A/S, Block Imaging, DRE Medical, Inc., Everx Pvt Ltd., General Electric Company, Integrity Medical Systems, Koninklijke Philips N.V., Radiology Oncology Systems, Inc., Siemens AG, and Soma Technology.
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COVID-19 Impact on Global Refurbished Medical Equipment Market
A rise in the need for reconditioned medical equipment, like mechanical ventilators, is anticipated as a result of the COVID-19 pandemic. However, the healthcare industry is also dealing with a serious disturbance in the supply chain that has an adverse effect on reconditioned medical equipment. Refurbished medical equipment is a gadget that has been reconditioned to a level comparable to that of new equipment.
Key Target Audience:
- Hospitals and Clinics
- Diagnostic Centers
- Ambulatory Surgical Centers (ASCs)
- Medical Equipment Rental Companies
- Medical Equipment Financing Companies
Our in-depth analysis of the Refurbished Medical Equipment Market includes the following segments:
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By Product: |
Intensive care equipment
Medical Imaging
OR Equipment
Patient Monitors
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By Application: |
Cardiology
Neurology
Oncology
Urology
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By End User: |
Diagnostic Imaging Centres
Hospital
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Key Topics Covered in the Report:
- Global Refurbished Medical Equipment Market Size (FY’2024-FY’2033)
- Overview of Global Refurbished Medical Equipment Market
- Segmentation of Global Refurbished Medical Equipment Market By Product (Intensive Care Equipment, Medical Imaging, OR Equipment and Patient Monitors.)
- Segmentation of Global Refurbished Medical Equipment Market By Application (Cardiology, Neurology, Oncology and Urology.)
- Segmentation of Global Refurbished Medical Equipment Market By End User (Diagnostic Imaging Centres and Hospitals.)
- Statistical Snap of Global Refurbished Medical Equipment Market
- Expansion Analysis of Global Refurbished Medical Equipment Market
- Problems and Obstacles in Global Refurbished Medical Equipment Market
- Competitive Landscape in the Global Refurbished Medical Equipment Market
- Impact of COVID-19 and Demonetization on Global Refurbished Medical Equipment Market
- Details on Current Investment in Global Refurbished Medical Equipment Market
- Competitive Analysis of Global Refurbished Medical Equipment Market
- Prominent Players in the Global Refurbished Medical Equipment Market
- SWOT Analysis of Global Refurbished Medical Equipment Market
- Global Refurbished Medical Equipment Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Refurbished Medical Equipment Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Refurbished Medical Equipment Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Refurbished Medical Equipment Market
7. Global Refurbished Medical Equipment Market, By Product (USD Million)
7.1. Global Refurbished Medical Equipment Market Value Share and Forecast, By Product, 2024-2033
7.2. Intensive care equipment
7.3. Medical Imaging
7.4. OR Equipment
7.5. Patient Monitors
8. Global Refurbished Medical Equipment Market, By Application (USD Million)
8.1. Global Refurbished Medical Equipment Market Value Share and Forecast, By Application, 2024-2033
8.2. Cardiology
8.3. Neurology
8.4. Oncology
8.5. Urology
9. Global Refurbished Medical Equipment Market, By End User (USD Million)
9.1. Global Refurbished Medical Equipment Market Value Share and Forecast, By End User, 2024-2033
9.2. Diagnostic Imaging Centres
9.3. Hospital
10. Global Refurbished Medical Equipment Market Forecast, 2020-2033 (USD Million)
10.1. Global Refurbished Medical Equipment Market Size and Market Share
11. Global Refurbished Medical Equipment Market, By Product 2020-2033 (USD Million)
11.1. Global Refurbished Medical Equipment Market Size and Market Share By Product (2020-2026)
11.2. Global Refurbished Medical Equipment Market Size and Market Share By Product (2027-2033)
12. Global Refurbished Medical Equipment Market, By Application 2020-2033 (USD Million)
12.1. Global Refurbished Medical Equipment Market Size and Market Share By Application (2020-2026)
12.2. Global Refurbished Medical Equipment Market Size and Market Share By Application (2027-2033)
13. Global Refurbished Medical Equipment Market, By End User, 2020-2033 (USD Million)
13.1. Global Refurbished Medical Equipment Market Size and Market Share By End User (2020-2026)
13.2. Global Refurbished Medical Equipment Market Size and Market Share By End User (2027-2033)
14. Global Refurbished Medical Equipment Market, By Region, 2020-2033 (USD Million)
14.1. Global Refurbished Medical Equipment Market Size and Market Share By Region (2020-2026)
14.2. Global Refurbished Medical Equipment Market Size and Market Share By Region (2027-2033)
14.3. Asia-Pacific
14.3.1. Australia
14.3.2. China
14.3.3. India
14.3.4. Japan
14.3.5. South Korea
14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France
14.4.2. Germany
14.4.3. Italy
14.4.4. Spain
14.4.5. United Kingdom
14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia
14.5.2. United Arab Emirates
14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada
14.6.2. Mexico
14.6.3. United States
14.7. Latin America
14.7.1. Argentina
14.7.2. Brazil
14.7.3. Rest of Latin America
15. Company Profile
15.1. Agito Medical A/S
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Block Imaging
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. DRE Medical
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. Everx Pvt Ltd.
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. General Electric Company
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Integrity Medical Systems
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. Koninklijke Philips N.V.
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. Radiology Oncology Systems Inc.
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. Siemens AG
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. Soma Technology
15.10.1. Company details
15.10.2. Financial outlook
15.10.3. Product summary
15.10.4. Recent developments
15.11. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
