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Refurbished Medical Devices Market - Growth, Trends, and Forecasts (2020 - 2025)

  • ID: 5175551
  • Report
  • August 2020
  • Region: Global
  • 114 pages
  • Mordor Intelligence
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until Dec 31st 2020
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FEATURED COMPANIES

  • Agito medical A/S
  • Avante Health Solutions
  • Everx Pvt Ltd.
  • GE Healthcare
  • Koninklijke Philips N.V.
  • Soma Technology
  • MORE
The global refurbished medical devices market is expected to witness a CAGR of 10.3% during the forecast period. Certain factors driving the market growth include cost containment pressure on healthcare organizations, a large inventory of old or used medical devices, the rising trend of medical tourism, and increasing rate of private healthcare institutions.

Along with the demand for new equipment, there is an increasing demand for refurbished medical equipment around the world. In fact, an increasing number of hospitals, which are new, are opting for alternate options to cut down on the capital investments. With the emerging technologies, there has been an increasing trend of ‘affordable buying,’ which is the basic reason for the emergence of the refurbished devices market. For example, today, a customer who is looking for any CT scanner under 4-slice opts for a refurbished unit, rather than a brand new system. The refurbished equipment allows buying of necessary devices at affordable prices, without compromising on quality; therefore healthcare facilities, including small and medium ones, purchase refurbished medical devices. Hence, the refurbished medical devices market is increasing at a high growth rate.

Key Market Trends

Medical Imaging Equipment is expected to hold a Significant Market Share in the Product Type

Medical imaging is the process of making a visual representation of the interior of the body for medical intervention. These instruments help in establishing a database of normal anatomy and physiology of internal organs so that any abnormality can be noticed immediately. The medical imaging equipment includes X-ray machines, ultrasound systems, MRI machines, CT scanners, and nuclear imaging systems (pet, spect, and pet/CT), among others. Majority of the clinics and hospitals that have purchased, used, or refurbished medical equipment generally have neutral-to-positive experiences with the purchase. Most end users have been found to indicate that they purchased used or refurbished equipment due to budgetary constraints.

North America dominates the Market and expected to do Same during the Forecast Period

North America dominates the global market, due to the high incidence of various chronic diseases, such as cardiovascular disease and cancer. The Center for Disease Control and Prevention (CDC) has stated that one person dies due to cradiovascular disease every 37 seconds in United States. This represents the high burden of cardiac disease in the country which is increasing the demand for such medical devices.

In addition to that, supportive regulatory policies for selling and using refurbished medical equipment are also expected to drive the growth of this market in North America.

Competitive Landscape

The global refurbished medical devices market is highly competitive and consists of a number of major players. Companies, like Agito medical A/S, Avante Health Solutions, Block Imaging International, Inc., Everx Pvt Ltd., GE Healthcare, Integrity Medical systems Inc., Koninklijke Philips N.V., Radio Oncology Systems Inc., Siemens Healthcare Systems, and Soma Technology, among others, hold substantial market shares in the refurbished medical devices market.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Agito medical A/S
  • Avante Health Solutions
  • Everx Pvt Ltd.
  • GE Healthcare
  • Koninklijke Philips N.V.
  • Soma Technology
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Cost Containment Pressure on Healthcare Organizations
4.2.2 Large Inventory of Old or Used Medical Devices
4.2.3 Growing Rate of Private Healthcare Institutions
4.3 Market Restraints
4.3.1 Quality Issues of Refurbished Medical Equipment among End Users
4.3.2 Reluctance to Purchase Refurbished Medical Equipment Among Healthcare Providers
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Medical Imaging Equipment
5.1.1.1 X-Ray Machines
5.1.1.2 Ultrasound Systems
5.1.1.3 MRI Machines
5.1.1.4 CT Scanners
5.1.1.5 Nuclear Imaging Systems (Pet, Spect, and Pet/CT)
5.1.1.6 Other Medical Imaging Equipment
5.1.2 Operating Room & Surgical Equipment
5.1.2.1 Anesthesia Machines
5.1.2.2 CO2 and Agent Monitors
5.1.2.3 Microscopes
5.1.2.4 Electrosurgical Units
5.1.2.5 Other Operating Room and Surgical Equipment
5.1.3 Patient Monitors
5.1.3.1 Multiparameter Monitors
5.1.3.2 Electrocardiography Devices (ECG)
5.1.3.3 Pulse Oximeters
5.1.3.4 Non-invasive Blood Pressure Monitors
5.1.4 Cardiovascular & Cardiology Equipment
5.1.5 Neurology Equipment
5.1.6 Endoscopy Equipment
5.1.7 Intensive Care Units
5.1.8 Other Medical Equipment
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.2 Europe
5.2.2.1 Germany
5.2.2.2 United Kingdom
5.2.2.3 France
5.2.2.4 Italy
5.2.2.5 Spain
5.2.2.6 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 Japan
5.2.3.3 India
5.2.3.4 Australia
5.2.3.5 South Korea
5.2.3.6 Rest of Asia-Pacific
5.2.4 Middle-East & Africa
5.2.4.1 GCC
5.2.4.2 South Africa
5.2.4.3 Rest of Middle-East & Africa
5.2.5 South America
5.2.5.1 Brazil
5.2.5.2 Argentina
5.2.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Agito medical A/S
6.1.2 Avante Health Solutions
6.1.3 Block Imaging International, Inc.
6.1.4 Everx Pvt Ltd.
6.1.5 GE Healthcare
6.1.6 Integrity Medical systems Inc.
6.1.7 Koninklijke Philips N.V.
6.1.8 Radio Oncology Systems Inc.
6.1.9 Siemens Healthcare Systems
6.1.10 Soma Technology

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
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  • Agito medical A/S
  • Avante Health Solutions
  • Block Imaging International, Inc.
  • Everx Pvt Ltd.
  • GE Healthcare
  • Integrity Medical systems Inc.
  • Koninklijke Philips N.V.
  • Radio Oncology Systems Inc.
  • Siemens Healthcare Systems
  • Soma Technology
Note: Product cover images may vary from those shown
5 of 5

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