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Refurbished Medical Devices: Technologies and Global Markets

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    Report

  • 102 Pages
  • October 2022
  • Region: Global
  • BCC Research
  • ID: 5680486

This report incorporates an in-depth analysis of the refurbished medical device market, including market estimates and trends through 2020. Major players, competitive intelligence, market dynamics and regional opportunities are discussed in detail. The report examines recent developments and product portfolios of major players. The report presents a market analysis and estimates the compound annual growth rate (CAGR) for refurbished medical devices.

The scope of the report extends to only those medical device technologies that can be refurbished and generate the most revenues. Devices that cannot be refurbished and are recycled, and other small surgical instruments that are refurbished, are outside the scope of this report.

This report segments the global market by these geographic regions: North America, Europe, Asia and the Rest of the World. For market estimates, data is provided for 2020 as the base year, 2021, and forecast through year-end 2027.

Report Includes

  • 56 data tables and 25 additional tables
  • A comprehensive overview and up-to-date analysis of the current and future global markets for refurbished medical devices/instruments
  • Analyses of the global market trends, with market revenue data for 2021, estimates for 2022 and 2023, and projections of compound annual growth rates (CAGRs) through 2027
  • Market outlook and estimation of the actual market size for refurbished medical devices, revenue forecast, and corresponding market share analysis based on device type, application, and region
  • Highlights of the current state and future market potential of refurbished instruments, along with a detailed analysis of the competitive environment
  • Identification of the key growth driving factors and constraints that will shape the market for refurbished medical devices as the basis for projecting demand over the next five years (2022-2027)
  • Coverage of regulations and guidelines on refurbished devices followed in the U.S and Europe
  • Holistic review of the impact of COVID-19 on refurbished instruments, with pandemic implications on the demand and supply, pricing analysis, and various government strategic decisions to boost the marketplace
  • Analysis of the vendor landscape for refurbished medical devices market, and company value share analysis based on their segmental revenues
  • Company profiles of major players within the industry, including Canon Medical Systems Corp., GE Healthcare, Koninklijke Philips NV and Siemens Healthineers
Frequently Asked Questions about the Global Refurbished Medical Devices Market

What is the estimated value of the Global Refurbished Medical Devices Market?

The Global Refurbished Medical Devices Market was estimated to be valued at $2.4 Billion in 2022.

What is the growth rate of the Global Refurbished Medical Devices Market?

The growth rate of the Global Refurbished Medical Devices Market is 8.7%, with an estimated value of $3.6 Billion by 2027.

What is the forecasted size of the Global Refurbished Medical Devices Market?

The Global Refurbished Medical Devices Market is estimated to be worth $3.6 Billion by 2027.

Who are the key companies in the Global Refurbished Medical Devices Market?

Key companies in the Global Refurbished Medical Devices Market include Auxo Medical LLC, Avante Health Solutions, Block Imaging International Inc., Canon Medical Systems Corp., Everx Pvt. Ltd, Ge Healthcare, Hilditch Group Ltd., Integrity Medical Systems Inc., Koninklijke Philips Nv and Lbn Medical.

Table of Contents

Chapter 1 Introduction
1.1 Study Goals and Objectives
1.2 Reasons for Doing this Study
1.3 Scope of Report
1.4 Information Sources
1.5 Methodology
1.6 Geographic Breakdown
1.7 Analyst's Credentials
1.8 Custom Research
1.9 Related Research Reports

Chapter 2 Summary and Highlights
Chapter 3 Market Overview
3.1 Introduction
3.2 Definition
3.3 Drivers, Restraints and Opportunities
3.3.1 Drivers
3.3.2 Restraints
3.3.3 Opportunities
3.3.4 Threats
3.3.5 Challenges
3.4 Regulations for Refurbished Medical Devices
3.4.1 Overview
3.4.2 Europe
3.4.3 U.S.
3.4.4 Japan

Chapter 4 Impact of Covid-19 Pandemic
4.1 Introduction
4.1.1 Supply Chain Disruption
4.1.2 Impact of Covid-19 in the U.S.

Chapter 5 Global Market for Medical Devices
5.1 Overview
5.2 Medical Imaging Equipment
5.2.1 Computed Tomography
5.2.2 Magnetic Resonance Imaging
5.2.3 X-Ray Machines
5.2.4 Ultrasound
5.2.5 Nuclear Medicine Systems (Pet, Spect and Pet/Ct)
5.2.6 Other Imaging Equipment
5.3 Operating Room Equipment
5.3.1 Anesthesia Machine
5.3.2 Electrosurgical Units
5.3.3 Operating Room Tables
5.3.4 Surgical Displays
5.3.5 Other Refurbished Operating Room Equipment
5.4 Patient Monitors
5.4.1 Multiparameter Monitors
5.4.2 Electrocardiography Devices
5.4.3 Pulse Oximeters
5.4.4 Mobile Cardiac Telemetry Devices
5.4.5 Other Patient Monitoring Devices
5.5 Cardiology Equipment
5.5.1 Defibrillators
5.5.1 Heart Lung Machines
5.6 Urology Instruments
5.6.1 Dialysis Machines
5.6.2 Lithotripsy Devices
5.7 Neurology Devices
5.7.1 Eeg Machines
5.7.2 Emg Machines
5.8 Icu Equipment
5.8.1 Ventilators
5.8.2 Infant Incubators and Warmers
5.9 Endoscopes
5.10 Dental Devices
5.11 Other Instruments
5.12 Global Market for Refurbished Medical Devices by End-user
5.12.1 Hospitals
5.12.2 Outpatient Facilities and Imaging Centers
5.12.3 Ambulatory Care Centers
5.12.4 Others

Chapter 6 Global Market for Medical Devices by Region
6.1 Introduction
6.2 North America
6.2.1 Canada
6.2.2 Inflation Reduction Act 2022
6.3 Europe
6.4 Asia
6.4.1 India
6.5 Rest of the World

Chapter 7 Competitive Landscape
Chapter 8 Company Profiles
8.1 Original Equipment Manufacturers
  • Canon Medical Systems Corp.
  • Ge Healthcare
  • Koninklijke Philips Nv
  • Siemens Healthineers
  • Third Party Companies
  • Avante Health Solutions
  • Auxo Medical LLC
  • Block Imaging International Inc.
  • Everx Pvt. Ltd
  • Integrity Medical Systems Inc.
  • Hilditch Group Ltd.
  • Lbn Medical
  • Master Medical Equipment
  • Radiology Oncology Systems Inc.
  • Soma Technology International
Chapter 9 Appendix: Acronyms
List of Tables
Summary Table: Global Market for Refurbished Medical Devices, by Segment, 2019-2027
Table 1: Differences Between New, Refurbished and Old Medical Devices
Table 2: Differences Between Refurbished and Remanufactured Devices
Table 3: Cost of CT Scanners
Table 4: Impact of Refurbished MRI and X-ray Machines on Environmental Parameters
Table 5: Common Framework for Medical Device Regulations
Table 6: Device Classes in U.S., by Risk Level and Controls
Table 7: Class I and II Exempt Devices
Table 8: Regulatory Bodies in Asia
Table 9: Regulatory Bodies in RoW Countries
Table 10: Steps in Refurbishment Process
Table 11: COVID-19 Vital Statistics September 2022
Table 12: Electromagnetic Spectrum Used in Diagnostic Imaging Devices
Table 13: Global Market for Refurbished Medical Imaging Devices, by Segment, Through 2027
Table 14: Global Market for Refurbished Medical Imaging Devices, by Region, Through 2027
Table 15: Price Comparison of New and Refurbished CT Scanners
Table 16: Global Market for Refurbished CT Devices, by Region, Through 2027
Table 17: Global Market for Refurbished MRI Systems, by Region, Through 2027
Table 18: Global Market for Refurbished X-Ray Devices, by Region, Through 2027
Table 19: Global Market for Refurbished Ultrasound Devices, by Region, Through 2027
Table 20: Global Market for Refurbished Nuclear Imaging Devices, by Region, Through 2027
Table 21: Global Market for Other Refurbished Imaging Devices, by Region, Through 2027
Table 22: Global Market for Refurbished Operating Room and Surgical Devices, by Segment, Through 2027
Table 23: Global Market for Refurbished Operating Room and Surgical Devices, by Region, Through 2027
Table 24: Global Market for Refurbished Anesthesia Machines, by Region, Through 2027
Table 25: Global Market for Refurbished Electrosurgical Devices, by Region, Through 2027
Table 26: Global Market for Refurbished Operating Room Tables, by Region, Through 2027
Table 27: Global Market for Refurbished Surgical Displays, by Region, Through 2027
Table 28: Global Market for Other Refurbished Operating Room and Surgical Devices, by Region, Through 2027
Table 29: Global Market for Refurbished Patient Monitors, Through 2027
Table 30: Global Market for Refurbished Patient Monitors, by Region, Through 2027
Table 31: Global Market for Refurbished Multiparameter Monitors, by Region, Through 2027
Table 32: Global Market for Refurbished Electrocardiography Device, by Region, Through 2027
Table 33: Global Market for Refurbished Pulse Oximeters, by Region, Through 2027
Table 34: Global Market for Refurbished Mobile Cardiac Telemetry Devices, by Region, Through 2027
Table 35: Global Market for Other Refurbished Patient Monitoring Devices, by Region, Through 2027
Table 36: Global Market for Refurbished Cardiological Equipment, by Segment, Through 2027
Table 37: Global Market for Refurbished Cardiological Equipment, by Region, Through 2027
Table 38: Global Market for Refurbished Defibrillators, by Region, Through 2027
Table 39: Global Market for Refurbished Heart Lung Machines, by Region, Through 2027
Table 40: Global Market for Refurbished Urology Equipment, by Segment, Through 2027
Table 41: Global Market for Refurbished Urology Equipment, by Region, Through 2027
Table 42: Global Market for Refurbished Dialysis Machines, by Region, Through 2027
Table 43: Global Market for Refurbished Lithotripsy Devices, by Region, Through 2027
Table 44: Global Market for Refurbished Neurology Devices, by Segment, Through 2027
Table 45: Global Market for Refurbished Neurology Devices, by Region, Through 2027
Table 46: Global Market for Refurbished EEG Machines, by Region, Through 2027
Table 47: Global Market for Refurbished EMG Machines, by Region, Through 2027
Table 48: Global Market for Refurbished ICU Equipment, by Segment, Through 2027
Table 49: Global Market for Refurbished ICU Equipment, by Region, Through 2027
Table 50: Global Market for Refurbished Ventilators, by Region, Through 2027
Table 51: Global Market for Refurbished Infant Incubators and Warmers, by Region, Through 2027
Table 52: Global Market for Refurbished Endoscopes, by Region, Through 2027
Table 53: Global Market for Refurbished Dental Devices, by Region, Through 2027
Table 54: Global Market for Other Refurbished Devices, by Region, Through 2027
Table 55: Global Market for Refurbished Medical Devices, by End User, Through 2027
Table 56: Global Market for Refurbished Medical Devices, by Region, Through 2027
Table 57: North American Market for Refurbished Medical Devices, by Segment, Through 2027
Table 58: Major Changes from MDD to MDR
Table 59: European Market for Refurbished Medical Devices, by Segment, Through 2027
Table 60: Asian Market for Refurbished Medical Devices, by Segment, Through 2027
Table 61: RoW Market for Refurbished Medical Devices, by Segment, Through 2027
Table 62: Major News and Developments
Table 63: Upcoming Conferences
Table 64: Canon Revenues for 2019-2021
Table 65: Cannon: Recent Developments
Table 66: GE Healthcare Revenues for 2019-2021
Table 67: GE Healthcare Revenues for 2019-2021, by Equipmnet and Services
Table 68: GE Healthcare Revenues for 2019-2021, by Segment
Table 69: GE Healthcare Refurbished Product Portfolio
Table 70: Philips Healthcare Revenues for 2019-2021
Table 71: Philips Healthcare Revenues for 2019-2021, by Segment
Table 72: Philips Healthcare: Recent Developments
Table 73: Siemens Healthineers Healthcare Revenues for 2019-2021
Table 74: Siemens Healthineers Healthcare Revenues for 2019-2021, by Segment
Table 75: Siemens Healthineers: Refurbished Product Portfolio
Table 76: Avante Health Solutions: Recent Developments
Table 77: Block Imaging International: Recent Develpoments
Table 78: Radiology Oncology Systems: Recent Developments
Table 79: List of Acronyms
Table 80: List of Medical Imaging and Radiology Events and Conferences, 2018-2022

List of Figures
Summary Figure: Global Market for Refurbished Medical Devices, by Segment, 2019-2027
Figure 1: Drivers and Restraints Affecting the Global Market for Refurbished Instruments
Figure 2: Rising Healthcare Costs in U.S.
Figure 3: Linear Economy vs. Circular Economy
Figure 4: Global Aging Population
Figure 5: Aging Population in U.S.
Figure 6: Medical Device Marketing Process, U.S.
Figure 7: Global Market Shares of Refurbished Medical Devices

Executive Summary

Major factors driving the market include cost benefits provided by the refurbished devices, the growing elderly population in many countries, declining healthcare margins and expenditures, and environmental advantages. Challenges in the market include the lack of uniform regulations, and restrictions in the Indian and Chinese markets.

The COVID-19 pandemic’s impact on the global economy cannot be ignored. Lockdowns and the cessation of many non-essential medical treatments had a negative impact on the revenues of makes of refurbished medical devices. The industry is slowly rebounding from the impact, and the market for refurbished medical devices is expected to grow at a steady pace during the forecast period.

The circular economy is a major consideration by many of the top original equipment manufacturers (OEMs) such as Philips Healthcare and GE Healthcare, for their increased focus on refurbished devices. Environmentally conscious end users also prefer refurbished systems.

Companies Mentioned

  • Auxo Medical LLC
  • Avante Health Solutions
  • Block Imaging International Inc.
  • Canon Medical Systems Corp.
  • Everx Pvt. Ltd
  • Ge Healthcare
  • Hilditch Group Ltd.
  • Integrity Medical Systems Inc.
  • Koninklijke Philips Nv
  • Lbn Medical
  • Master Medical Equipment
  • Radiology Oncology Systems Inc.
  • Siemens Healthineers
  • Soma Technology International