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European Markets for Refurbished Medical Imaging Systems
Frost & Sullivan, May 2005
Rapid Technological Evolution a Key Driver for Refurbished Imaging Equipment Market
Increasingly sophisticated medical imaging equipment are being introduced in the European market every year, rendering old imaging equipment obsolete. This propels the end users to purchase latest technology products for their hospitals. Private health care institutions are also keen on investing in such equipment, but budgetary constraints prevent them from purchasing them. Hence, refurbished medical imaging equipment is likely to be the most viable and cheap alternative to high-end equipment for these institutions. As private healthcare institutions are key end users of refurbished equipment, anticipated growth in their number is likely to further strengthen the European markets for refurbished medical imaging equipment.
This Frost & Sullivan research offers a comprehensive analysis of the European markets for refurbished medical imaging equipment, segmenting it into cardiovascular X-ray, fluoroscopy, ultrasound, computed tomography (CT) and magnetic resonance imaging (MRI). In addition to detailed insights into industry challenges and market drivers, this study provides strategic growth recommendations to vendors.
Increased Procedure Volumes and Budgetary Constraints Compel Hospitals to Look for Cheaper Alternatives
The increase in medical procedures in Europe has stimulated demand for greater number of imaging equipment in hospitals. Many institutions which require a second or third equipment to cope with the increasing demand opt for low-cost refurbished equipment as they are unable to invest in new equipment due to limited funds. Escalating need to procure high-end but inexpensive medical imaging equipment promises further growth of refurbished medical imaging equipment market, notes the analyst of this research.
High Inventory of Used Imaging Equipment Fuels Growth of Market
Increasing supply of refurbished equipment owing to replacement of used-but-not-very-old systems with new upgraded ones is anticipated to drive the growth of refurbished medical imaging equipment market in Europe, notes the analyst.
The health care systems in Europe, especially the public hospitals, are equipped with excellent medical facilities due to constant investment of government bodies in technologically upgraded products. Public health care institutions sell off older systems to vendors to create room for more efficient and technologically advanced equipment. The local vendors and original equipment manufacturers (OEMs) refurbish these old, well-maintained systems and sell them to private health care institutions. As this trend continues, the European market for refurbished medical imaging equipment is poised to grow.
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