The Refurbished Medical Devices Market size in the Asia Pacific was worth USD 1.95 billion in 2022. It is further estimated to be growing at a CAGR of 13.17% and worth USD 3.61 billion by 2027.
Factors such as the growing privatization of the healthcare sector, an increasing number of surgical centers and hospitals, and the escalating focus of international and domestic players in the Asia-Pacific refurbished medical devices market boost its growth.
The rise in demand is observed for the refurbished medical devices market and the novel devices market. Refurbishment of devices is a structured technique or a procedure to inspect the user device's safety & efficiency and confirms that all the safety factors are met before the use of the device, without altering its proposed use as per the original listing. The life of medical devices also plays a vibrant role in the stipulation of the refurbished device.
Development of the private healthcare sector has augmented the interest of high-quality imaging modalities, as private hospitals strongly emphasize returns on investment. Refurbished medical imaging devices offer these hospitals a chance to stay ahead of contenders by directing more advanced procedures at a lesser cost.
Government regulations that have constrained the purchase of used devices in some regions are expected to hinder market growth.
This research report on the Asia Pacific Refurbished Medical Devices Market has been segmented and sub-segmented into the following categories:
By Product Type:
Based on product type, the patient monitor device segment holds the major share in the market due to the lower cost of the product, growing awareness for chronic diseases, and technological developments such as innovations of portable patient monitoring devices.
Regionally, China is dominating the refurbished medical devices market in this region and is expected to continue its dominance over the forecast period.
Promising companies leading the APAC Refurbished Medical Devices Market profiled in this report are Siemens Healthcare systems, First Source Inc., DMS Topline, Radio Oncology Systems Inc., Johnson & Johnson, GE Healthcare, DRE Inc., Block Imaging International Inc., Integrity Medical systems Inc., Everx Pvt Ltd., Philips Healthcare, Agito Medical A/S and Soma Technology.
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