Exactitude Consultancy Press Release: Global refurbished medical equipment market

Increasing initiatives taken by medical device manufacturers to establish refurbished facilities in both develop and developing nations have dominated the market.

The increase in the number of private hospitals purchasing refurbished devices due to budget constraints, unfavorable reimbursement scenarios for various medical treatments, and increasing initiatives taken by leading medical device manufacturers to establish refurbished accommodations in both developed and developing countries have fueled demand for refurbished equipment. The increased focus of original equipment manufacturers on medical device refurbishing is likely to boost the expansion of the refurbished medical equipment market. And also, the adoption of effective remanufacturing standards is expected to enhance of refurbished medical devices.

In the application segment, medical imaging systems dominate the market due to the high cost of medical imaging equipment and also the existence of a wide number of vendors.

Medical imaging refers to the use of technology to image the human body in order to diagnose, monitor, or treat medical diseases. Each technology provides information on a certain area of the body. The high cost of medical imaging equipment, as well as the existence of a wide number of vendors, are expected to fuel segment expansion over the projection period. Medical imaging equipment aids in the creation of a database on the normal morphology and physiology of internal organs, allowing any anomaly to be detected quickly. As a result, as their technological sophistication grows, so does the total cost of the gadgets. As a result, the high cost of medical imaging devices is projected to drive market expansion.

Explore198 market data Tables spread through nearly 144 Pages and in-depth analysis on “GlobalRefurbished Medical Equipment Market by Product Type (Medical Imaging Systems, Operating Equipment and Surgical Devices, Others), Application (Diagnostic Imaging Systems, Minimally Invasive Devices, Biotechnology Instruments), End User (Hospitals and Clinics, Diagnostic Centers, Ambulatory Surgical Centers, Others), and Region, Global Trends and Forecast From 2022 To 2029” With Table of Contents

In the end user segment, hospitals are dominating as they use the most medical equipment in the healthcare facility

During the projection period, the hospital segment will account for the most additional increase. Hospitals use the most medical equipment of any type of healthcare facility. Diagnostics are the major technique of screening in hospitals, which are the initial point of contact for any illness or disease. The growing number of persons infected with numerous infectious illnesses pushes clinicians to employ diagnostic imaging technology, boosting their demand. Furthermore, the growing global population suffering from critical illnesses such as cancer and cardiovascular diseases (CVDs) is fuelling market expansion. Due to economic restrictions, private hospitals in developing countries are increasingly using second hand equipment.

The market growth is restricted due to a lack of standardized regulations and awareness

The lack of standardized regulatory standards for the resale of refurbished devices is projected to stymie market expansion throughout the forecast period. Furthermore, negative perceptions about refurbished products are likely to be a significant impediment to the growth of the refurbished medical equipment market. Also, due to a lack of understanding regarding the advantages of these devices

The growing opportunities of the market are due to needing for Low-cost medical equipment will expand which dominate the market.

The medical need for low-cost medical equipment is likely to contribute to the expansion of the refurbishing medical devices market in the upcoming years. Due to the region’s low disposable income, demand for refurbished medical gadgets is stronger in low-income nations. The high cost of big and advanced equipment is also expected to have a significant influence on the growth of the refurbishing equipment market.

Covid-19 impacted the market positively and the long-term impacts are expected to have an influence on industry growth due to the global appeal of ideas by the government and public-private sectors.

COVID-19 is an unprecedented worldwide public health disaster that has impacted nearly every business, and the long-term impacts are expected to have an influence on industry growth throughout the projection period. The global solicitation of ideas by governments and public-private partnerships to limit the effect of the COVID-19 pandemic is driving the growth of the Used & Refurbished Medical Equipment market.

Refurbished Medical Equipment Market Players

Key market players covered by the refurbished medical equipment market analysis are Agito Medical AS, Avante Health Solutions, Block Imaging International Inc., Everx Pvt. Ltd., GE Healthcare, Integrity Medical Systems Inc., Koninklijke Philips NV, Radio Oncology Systems Inc., Siemens Healthcare Systems, Soma Technology, Hilditch Group, Master Medical Equipment, Cambridge Scientific Products, Johnson & Johnson, Canon Medical Systems.

Key Market Segments: Refurbished Medical Equipment Market

Refurbished Medical Equipment Market By Product Type, 2020-2029, (USD Billion)

• Medical Imaging Systems
• Operating Equipment and Surgical Devices
• Others

Refurbished Medical Equipment Market By Application, 2020-2029, (USD Billion, Thousand Units)

• Diagnostic Imaging Systems
• Minimally Invasive Instruments
• Biotechnology Instruments
• Others

Refurbished Medical Equipment Market By End User, 2020-2029, (USD Billion, Thousand Units)

• Hospitals And Clinics
• Diagnostic Centers
• Ambulatory Surgical Centers
• Others

Refurbished Medical Equipment Market By Region, 2020-2029, (USD Billion, Thousand Units)

• North America
• Asia Pacific
• Europe
• South America
• Middle East And Africa

Important Countries In All Regions Are Covered.

The post Refurbished Medical Equipment Market Is Expected to Grow at 13.4% CAGR from 2021 to 2029 appeared first on Exactitude Consultancy.