Refurbished Medical Equipment Market
Refurbished Medical Equipment Market Forecasts to 2032 - Global Analysis By Product (Medical Imaging Systems, Operating Equipment and Surgical Devices and Other Products), Component, Application, End User, and By Geography
|
Years Covered |
2022-2032 |
|
Estimated Year Value (2025) |
US $18.8 BN |
|
Projected Year Value (2032) |
US $33.5 BN |
|
CAGR (2025 - 2032) |
8.6% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Refurbished Medical Equipment Market is accounted for $18.8 billion in 2025 and is expected to reach $33.5 billion by 2032 growing at a CAGR of 8.6% during the forecast period. Refurbished medical equipment refers to used medical devices, such as MRI machines, ventilators, or ultrasound systems, that are restored to full functionality. The process involves thorough inspection, repair, calibration, and testing to meet original manufacturer standards. These devices are cleaned, upgraded, and certified for safe clinical use, offering cost-effective solutions for healthcare facilities while maintaining performance and reliability.
According to the data published by the American Hospital Association in 2022, there are about 6,093 hospitals in the U.S.
Market Dynamics:
Driver:
Increasing demand in developing regions
Increasing demand in developing regions is a significant driver for the refurbished medical equipment market. Developing countries often face budgetary constraints and limited healthcare infrastructure, making new medical equipment prohibitively expensive. The growing healthcare awareness and rising prevalence of chronic diseases in these areas further fuel the demand for affordable solutions. This push for accessible healthcare solutions creates a robust market for reconditioned devices. Fueled by the need for affordable healthcare, developing regions are driving this market.
Restraint:
Limited warranty periods
Limited warranty periods present a notable restraint for the refurbished medical equipment market. Compared to new equipment, refurbished devices typically come with shorter warranty periods, which can raise concerns about long-term reliability and maintenance costs. This shorter guarantee period can affect consumer confidence and influence purchasing decisions. Ensuring extended warranty options or comprehensive service agreements could mitigate this restraint. Backed by concerns over long-term reliability, limited warranties impact buyer confidence.
Opportunity:
Technological upgrades in refurbishment
Technological upgrades in refurbishment represent a significant opportunity for the refurbished medical equipment market. Refurbishment processes are becoming more sophisticated, allowing for not just repair but also the incorporation of newer software and hardware components. Innovations in diagnostic and calibration tools enhance the quality and reliability of refurbished products. As refurbishment techniques advance, the appeal and competitiveness of these products increase. Propelled by continuous improvement in reconditioning processes, this opportunity enhances market value.
Threat:
Competition from new equipment
Competition from new equipment poses a substantial threat to the refurbished medical equipment market. Manufacturers of new equipment constantly introduce technologically advanced models with enhanced features, improved efficiency, and longer warranties, which can attract buyers with higher budgets. The perception of new equipment offering superior performance and fewer risks can also sway purchasing decisions. This continuous innovation in new product development creates a competitive landscape. Influenced by the allure of cutting-edge technology, new equipment provides strong competition.
Covid-19 Impact:
The COVID-19 pandemic had a mixed impact on the refurbished medical equipment market. Initially, there was a surge in demand for critical care equipment like ventilators and patient monitors, which could be quickly sourced through refurbishment. The need to equip temporary healthcare facilities efficiently also boosted the market. Triggered by the urgent need for medical devices, the pandemic underscored the value of refurbished equipment.
The medical imaging systems segment is expected to be the largest during the forecast period
The medical imaging systems segment is expected to account for the largest market share during the forecast period, due to the high cost of new imaging equipment, such as MRI machines, CT scanners, and X-ray systems, making refurbished alternatives highly attractive. These systems are essential for diagnosis and treatment across various medical specialties. The continuous upgrade cycles of new imaging technologies create a steady supply of high-quality used equipment for refurbishment. The demand for advanced diagnostic capabilities in healthcare facilities globally underpins this segment's leading position. Guided by the significant cost savings on vital diagnostics, this segment remains paramount.
The cardiology segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the cardiology segment is predicted to witness the highest growth rate, driven by the increasing global burden of cardiovascular diseases, which necessitates a growing demand for diagnostic and interventional cardiology equipment. Refurbished ultrasound systems, ECG machines, and cardiac monitors offer cost-effective solutions for clinics and hospitals. The focus on early detection and management of heart conditions across developing regions further fuels this demand. As healthcare infrastructure expands, the need for specialized cardiology equipment intensifies. Spurred by the rising incidence of heart disease, this segment is charting significant growth.
Region with largest share:
During the forecast period, the Asia Pacific region is expected to hold the largest market share, driven by the large and growing population, increasing healthcare expenditure, and the expansion of healthcare infrastructure in countries like China and India. The strong demand for affordable medical solutions due to budget constraints in many healthcare facilities further fuels this market. Additionally, the rising prevalence of chronic diseases and improving access to healthcare services contribute to its market leadership. Backed by extensive healthcare needs and investment, the Asia Pacific region secures its leading market position.
Region with highest CAGR:
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR, primarily fuelled by a well-established refurbishment industry, stringent quality standards, and a strong emphasis on sustainability. The region's high healthcare expenditure and the continuous upgrading of medical technology create a steady supply and demand for refurbished equipment. Furthermore, the presence of major refurbishes and the increasing acceptance of reconditioned devices by healthcare providers contribute to its rapid expansion. Motivated by a focus on cost-efficiency and sustainability, North America is poised for robust growth in this market.
Key players in the market
Some of the key players in Refurbished Medical Equipment Market include GE Healthcare, Koninklijke Philips N.V., Siemens Healthineers, Canon Medical Systems Corporation, Stryker Corporation, Medtronic PLC, Johnson & Johnson, Baxter International, Inc., Becton, Dickinson and Company (BD), Drägerwerk AG & Co. KGaA, Mindray Medical International, Nihon Kohden Corporation, Avante Health Solutions, Soma Technology, Inc., Block Imaging International, Inc., Integrity Medical Systems, Inc., Everx Pvt. Ltd., and Radiology Oncology Systems, Inc.
Key Developments:
In May 2025, GE Healthcare expanded its refurbishment program for MRI and CT scanners, integrating AI-based diagnostics. The upgraded systems offer cost-effective solutions for hospitals in developing regions, ensuring high performance and regulatory compliance.
In April 2025, Siemens Healthineers launched a refurbished cardiology equipment line, including ECG and ultrasound systems. Enhanced with modern software, these systems provide affordable, high-quality solutions for cardiovascular care in budget-constrained markets.
In February 2025, Canon Medical Systems Corporation released a refurbished ultrasound line with advanced imaging capabilities. Designed for cost-sensitive markets, the systems offer improved diagnostics and reliability, supporting global healthcare access.
Products Covered:
• Medical Imaging Systems
• Operating Equipment and Surgical Devices
• Other Products
Types Covered:
• Sensors
• Probes and Analyzers
• Software and Services
Components Covered:
• Complete Equipment
• Spare Parts
• Accessories
Applications Covered:
• Cardiology
• Oncology
• Orthopedics
• Neurology
• Other Applications
End Users Covered:
• Hospitals
• Ambulatory Surgical Centers
• Clinics
• Diagnostic Centers
• Nursing Homes
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Refurbished Medical Equipment Market, By Product
5.1 Introduction
5.2 Medical Imaging Systems
5.2.1 Computed Tomography Systems
5.2.2 MRI Systems
5.2.3 X-Ray, C-Arm & Radiography Equipment
5.3 Operating Equipment and Surgical Devices
5.3.1 Anesthesia Machines & Agent Monitors
5.3.2 Endoscopes & Microscopes
5.3.3 Vascular Closure Devices
5.4 Other Products
6 Global Refurbished Medical Equipment Market, By Component
6.1 Introduction
6.2 Complete Equipment
6.3 Spare Parts
6.4 Accessories
7 Global Refurbished Medical Equipment Market, By Application
7.1 Introduction
7.2 Cardiology
7.3 Oncology
7.4 Orthopedics
7.5 Neurology
7.6 Other Applications
8 Global Refurbished Medical Equipment Market, By End User
8.1 Introduction
8.2 Hospitals
8.3 Ambulatory Surgical Centers
8.4 Clinics
8.5 Diagnostic Centers
8.6 Nursing Homes
8.7 Other End Users
9 Global Refurbished Medical Equipment Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 GE Healthcare
11.2 Koninklijke Philips N.V.
11.3 Siemens Healthineers
11.4 Canon Medical Systems Corporation
11.5 Stryker Corporation
11.6 Medtronic PLC
11.7 Johnson & Johnson
11.8 Baxter International, Inc.
11.9 Becton, Dickinson and Company (BD)
11.10 Drägerwerk AG & Co. KGaA
11.11 Mindray Medical International
11.12 Nihon Kohden Corporation
11.13 Avante Health Solutions
11.14 Soma Technology, Inc.
11.15 Block Imaging International, Inc.
11.11 Integrity Medical Systems, Inc.
11.17 Everx Pvt. Ltd.
11.18 Radiology Oncology Systems, Inc.
List of Tables
1 Global Refurbished Medical Equipment Market Outlook, By Region (2024-2032) ($MN)
2 Global Refurbished Medical Equipment Market Outlook, By Product (2024-2032) ($MN)
3 Global Refurbished Medical Equipment Market Outlook, By Medical Imaging Systems (2024-2032) ($MN)
4 Global Refurbished Medical Equipment Market Outlook, By Computed Tomography Systems (2024-2032) ($MN)
5 Global Refurbished Medical Equipment Market Outlook, By MRI Systems (2024-2032) ($MN)
6 Global Refurbished Medical Equipment Market Outlook, By X-Ray, C-Arm & Radiography Equipment (2024-2032) ($MN)
7 Global Refurbished Medical Equipment Market Outlook, By Operating Equipment and Surgical Devices (2024-2032) ($MN)
8 Global Refurbished Medical Equipment Market Outlook, By Anesthesia Machines & Agent Monitors (2024-2032) ($MN)
9 Global Refurbished Medical Equipment Market Outlook, By Endoscopes & Microscopes (2024-2032) ($MN)
10 Global Refurbished Medical Equipment Market Outlook, By Vascular Closure Devices (2024-2032) ($MN)
11 Global Refurbished Medical Equipment Market Outlook, By Other Products (2024-2032) ($MN)
12 Global Refurbished Medical Equipment Market Outlook, By Component (2024-2032) ($MN)
13 Global Refurbished Medical Equipment Market Outlook, By Complete Equipment (2024-2032) ($MN)
14 Global Refurbished Medical Equipment Market Outlook, By Spare Parts (2024-2032) ($MN)
15 Global Refurbished Medical Equipment Market Outlook, By Accessories (2024-2032) ($MN)
16 Global Refurbished Medical Equipment Market Outlook, By Application (2024-2032) ($MN)
17 Global Refurbished Medical Equipment Market Outlook, By Cardiology (2024-2032) ($MN)
18 Global Refurbished Medical Equipment Market Outlook, By Oncology (2024-2032) ($MN)
19 Global Refurbished Medical Equipment Market Outlook, By Orthopedics (2024-2032) ($MN)
20 Global Refurbished Medical Equipment Market Outlook, By Neurology (2024-2032) ($MN)
21 Global Refurbished Medical Equipment Market Outlook, By Other Applications (2024-2032) ($MN)
22 Global Refurbished Medical Equipment Market Outlook, By End User (2024-2032) ($MN)
23 Global Refurbished Medical Equipment Market Outlook, By Hospitals (2024-2032) ($MN)
24 Global Refurbished Medical Equipment Market Outlook, By Ambulatory Surgical Centers (2024-2032) ($MN)
25 Global Refurbished Medical Equipment Market Outlook, By Clinics (2024-2032) ($MN)
26 Global Refurbished Medical Equipment Market Outlook, By Diagnostic Centers (2024-2032) ($MN)
27 Global Refurbished Medical Equipment Market Outlook, By Nursing Homes (2024-2032) ($MN)
28 Global Refurbished Medical Equipment Market Outlook, By Other End Users (2024-2032) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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