Global Refurbished Medical Devices Market Overview
Refurbished Medical Devices Market was valued at US$ 12.1 Billion in 2024 and is projected to grow at a CAGR of 12.6% to reach US$ 35.5 Billion by 2034.
The devices that are used for restoring its original working condition by various experts or many other manufacturer. These devices are tested and checked by the quality control department. Refurbished medical devices are designed to have long-use periods. refurbished medical devices market is propel by a chip alternative for the expensive devices, poor reimbursement policies in many countries, and e-marketing. Rising population of patient population also contributed in the growth of the market. A medical device is any device intended to be used for medical purposes. Medical devices benefit patients by helping health care providers diagnose and treat patients and helping patients overcome sickness or disease, improving their quality of life. Significant potential for hazards are inherent when employing a device for medical purposes and thus medical devices must be proved safe and effective with reasonable assurance before regulating governments allow marketing of the device in their country. As a general rule, because the associated risk of the device increases the quantity of testing required to determine safety and efficacy also increases. Further, as associated risk increases the potential benefit to the patient must also increase.
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Global Refurbished Medical Devices Market Dynamics
Affordable prices of refurbished medical devices
The rise in number of new hospitals that are electing for alternate options to cut down on the investments of money. Using refurbished devices can be affordable and available for also below economy class people. This is the major propelling factor for the growth of the target market.
Advancement in technologies
Rise in advancement and increasing the emerging technologies, the trend of using affordable buying devices that is refurbished medical devices has been an increasing which is the boosting factor for the growth of the target market.
Reuse is not possible
However, the reuse of refurbished medical devices is not possible due to always perceived risk of accuracy and quality of outcomes. As reusing the refurbishing medical devices can creates the fear of risking a patient’s life and reputation of the healthcare industry. Additionally, the more taxes on imported devices and improper awareness about refurbished medical devices is another hampering factor for the growth of the target market.
Global Refurbished Medical Devices Market Segmentation
The refurbished medical devices market is segmented based on product and region.
On the basis of product, the global refurbished medical devices market is segmented into medical imaging equipment, operating room & surgical equipment, patient monitors, cardiovascular & cardiology equipment, and others.
Regional Insights:
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
On region the global refurbished medical devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region is expected to dominate the target market over the forecast period due to increasing incident of the various chronic disease. The government in North America region supports the policies for using and selling of the refurbished medical devices due to which North America region is expected to remain dominated in the global refurbished medical devices during the forecast period.
Report Scope:
|
Attribute |
Details |
|
Market Size 2024 |
US$ 12.1 billion |
|
Projected Market Size 2034 |
US$ 35.5 billion |
|
CAGR Growth Rate |
12.6% |
|
Base year for estimation |
2023 |
|
Forecast period |
2024 – 2034 |
|
Market representation |
Revenue in USD Billion & CAGR from 2024 to 2034 |
|
Market Segmentation |
By Product - Medical Imaging Equipment, Operating Room & Surgical Equipment, Patient Monitors, Cardiovascular & Cardiology Equipment, and Others |
|
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
|
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2025. For the purpose of this study, has segmented the global refurbished medical devices market report based on product and region:
Refurbished Medical Devices Market, By Product:
- Medical Imaging Equipment
- Operating Room & Surgical Equipment
- Patient Monitors
- Cardiovascular & Cardiology Equipment
- Others
Refurbished Medical Devices Market, By Region:
- North America
- Middle East & Africa
-
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
-
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
-
- U.S.
- Canada
- Middle East & Africa
Global Refurbished Medical Devices Market Key Players
The key players operating the refurbished medical devices market includes Agito medical A/S, Avante Health Solutions, Block Imaging International, Inc., Everx Pvt. Ltd., GE Healthcare, Integrity Medical systems Inc., Koninklijke Philips N.V., Radio Oncology Systems Inc., Siemens Healthcare Systems, and Soma Technology. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market. For instance, in 2019, president of Avante Ultrasound from the Avante Health Solutions has declared that Sterling Peloso, and assumed the operating responsibilities of Avante Patient Monitoring.
Global Refurbished Medical Devices Market Company Profile
- Agito medical A/S
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Avante Health Solutions,
- Block Imaging International, Inc.
- Everx Pvt Ltd.
- GE Healthcare
- Integrity Medical systems Inc.
- Koninklijke Philips N.V.
- Radio Oncology Systems Inc.
- Siemens Healthcare Systems
- Soma Technology
“*” marked represents similar segmentation in other categories in the respective section
Global Refurbished Medical Devices Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Refurbished Medical Devices Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Refurbished Medical Devices Market, By Product, 2019 – 2025, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2025
- Y-o-Y Growth Analysis (%), 2019 – 2025
- Segment Trends
- Medical Imaging Equipment
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2025
- Operating Room & Surgical Equipment
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2025
- Patient Monitors
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2025
- Cardiovascular & Cardiology Equipment
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2025
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2025
- Overview
- Global Refurbished Medical Devices Market, By Region, 2019 – 2025, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2025
- Y-o-Y Growth Analysis (%), 2019 – 2025
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Product, 2019 – 2025
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2025
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Product, 2019 – 2025
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2025
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Product, 2019 – 2025
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2025
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Product, 2019 – 2025
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2025
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Product, 2019 – 2025
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2025
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Agito medical A/S
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Avante Health Solutions,
- Block Imaging International, Inc.
- Everx Pvt Ltd.
- GE Healthcare
- Integrity Medical systems Inc.
- Koninklijke Philips N.V.
- Radio Oncology Systems Inc.
- Siemens Healthcare Systems
- Soma Technology
- Agito medical A/S
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The global refurbished medical devices market is segmented based on product and region.
The rise in number of new hospitals that are electing for alternate options to cut down on the investments of money.
North America region is expected to dominate the target market over the forecast period due to increasing incident of the various chronic disease.
The key players operating the global refurbished medical devices market includes Agito medical A/S, Avante Health Solutions, Block Imaging International, Inc., Everx Pvt. Ltd., GE Healthcare, Integrity Medical systems Inc., Koninklijke Philips N.V., Radio Oncology Systems Inc., Siemens Healthcare Systems, and Soma Technology.