The refurbishment is considered to be a growing phenomenon concerning the healthcare industry. Currently refurbished devices range from machines such as neonatal monitors to devices used in surgery like forceps and others.

Global Refurbished Medical Devices Market Segments Size & Growth:

Global refurbished Medical Devices Market size is projected to reach approximately $12.95 billion by the end of 2024 with a CAGR of close to 12.87% during the forecast timeline 2018-2024. As refurbished medical devices market is providing high growth potential for companies in developing stage, which is indeed considered as responsible for a rapid increase in the demand for refurbished medical devices in the world market.  And also increase the demand for refurbished medical devices in private healthcare sector is also a prime reason for the growth of the market. Apart from this, a large inventory of old and used medical devices, eco-friendly refurbishment process is considered as key attributes for the growth of this market.  However, lack of awareness regarding benefits of refurbished medical devices, consistent regulations on import and usage of refurbished medical equipment in various counties and others are considered as major challenges for the growth of the market.

Global Refurbished Medical Devices Market Segments Share:

Depending upon the product, this market can be segmented as medical imaging equipment, operating room & surgical equipment, patient monitors, cardiovascular & cardiology equipment, defibrillators, neurology equipment, neonatal intensive care equipment, intensive care systems, endoscopy equipment’s, intravenous (IV) therapy systems and others. Among various products available, medical imaging equipment is considered to have the highest market share in the world market of refurbished medical devices market. Since most healthcare facilities present in developing nations are lack of new equipment’s owing to high cost of maintenance and installation. As a result, demand for this market is rapidly increasing in various regions across the world. It is expected that in the near future, cardiovascular & cardiology equipment market segment is anticipated to grow with an accelerating CAGR for the next coming five years owing to the increase in the number of heart-related diseases and other, which is the prime factor contributing to an increase in the adoption of this equipment across the world. There are various end-users associated with the market for refurbished medical devices. Few of these include hospitals and clinics, research labs and others. Every end-user has got its significance and usage concerning the market. North America followed by Europe is considered to have large market expansion across the world owing to increase in the number of private healthcare systems and other across various regions in North America. Rise in awareness regarding reuse and recycle of various equipment’s aided with solid, supportive regulatory structure play a vital role in the growth of the market. Refurbished Medical Devices Market in the Asia Pacific is considered to grow with a rising CAGR throughout the forecast period. The rise in population and others act to be the prime factors for the growth of the market in the Asia Pacific.

Global Refurbished Medical Devices Market Trends:

• Gemini TF 64-DS is a product of Philips healthcare which is used for advanced applications like pulmonary gating and others.
• Magneton Espree 1.5T eco which is a product from Siemens Healthineers with Zeo helium boil off and with low sitting costs: magnet, equipment.

Global Refurbished Medical Devices Market Research Report:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.

Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year

Identifying DROC in the current market and their impact in altering the market dynamics.

Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with major competitors.

Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.

The major key players in the Global Refurbished Medical Devices Market are:

• Ge Healthcare
• Philips Healthcare
• Siemens Healthineers
• Block Imaging International, Inc.
• Soma Technology, Inc.
• DRE Medical, Inc.

Along with these companies, there were many other companies considered/cited in the report while analysing the Global Refurbished Medical Devices Market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.