Refurbished Medical Equipment - Global Market Outlook (2015-2022)
According to Stratistics MRC, the Global Refurbished Medical Equipment market is accounted for $5.5 billion in 2015 and is expected to reach $13.9 billion by 2022 growing at a CAGR of 14.21% from 2015 to 2022. Growing demand for advanced medical devices in healthcare sector is the major driver favoring the market growth. The factors such as rising demand for large sums of investment in diagnostic equipments, growing vast supply of old medical devices for development, high cost expenditure pressures on healthcare organisations and friendliness environment developments are some of the factors driving the market growth.
However, lack of knowledge in refurbished equipments, unwillingness to purchase refurbished devices and uncooperative association among end users are some of the factors limiting the market growth. Growing number of diagnostic centers & hospitals and vast requirement for refurbished equipment in emerging markets will remains as a biggest opportunity for the market growth over the forecast period.
North America dominated global market due to increasing aging population, huge prevalence of various diseases (such as cancer and CVD), favorable regulatory scenario for sale and failing insurance reimbursements for imaging procedures are driving the growth of the refurbished medical equipment market in the North American region. Asia-Pacific market is expected to grow at the highest CAGR due to the growing privatization of the healthcare sector, reduced reimbursement scenario, enormous patient population base, and occurrence of a large number of low budget hospitals/clinics.
Some of the key players in this market include Soma Technology, Inc. Radiology Oncology Systems, Inc., Integrity Medical Systems, Inc., Everx Pvt Ltd., Block Imaging International, Inc., Siemens Healthcare, Philips Healthcare, GE Healthcare, DRE, Inc., Agito Medical A/S, Johnson & Johnson, Agito Medical, DMS Topline and First Source, Inc.
• Neonatal Intensive-Care Equipment
o Infant Incubators and Warmers
• Intensive Care Systems
o Telemetry Systems
o Hardwire Systems
• Neurology Equipment
• Endoscopy Equipment
• IV Therapy Systems
• Medical Imaging Equipment
• Patient Monitors
• Cardiovascular & Cardiology Equipment
• Operating Room & Surgical Equipment
• Other Medical Equipment
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• Rest of the World
o Middle East
o South Africa
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