Europe Refurbished Medical Devices Market Size (2022 to 2027)
The size of the Refurbished Medical Devices Market in Europe was worth USD 2.22 billion in 2022. It is further estimated to be growing at a CAGR of 12.3% and worth USD 3.97 billion by 2027. Europe is the second-largest market globally after North America.
With reduced budgets and accelerating the number of medical procedures in the European region, the necessity to spend less on equipment while attaining the maximum benefit from them has continued demand for high-quality refurbished imaging devices. The increasing number of private hospitals and diagnostic centers and the growing demand for refurbished devices in developing markets generate opportunities for growth of the refurbished medical devices market.
The growth of the refurbished medical devices market is largely driven by the rising prevalence of lifestyle diseases (such as cancer and CVD), increasing geriatric population, growing demand for refurbished medical products by small and medium-sized hospitals, and upgrading healthcare facilities.
Conversely, end-users' negative outlook for the quality of refurbished medical products is a key factor restraining market growth.
This research report on the European 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, Germany, and U.K regions are estimated to attain robust growth for the forecast period's refurbished medical devices market.
Key players operating in Europe 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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