Europe Refurbished Medical Devices Market Research Report – Segmented By Product Type & By Country (UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe) - Industry Analysis, Size, Share, Growth, Trends, Forecast (2024 to 2029)

Published: January, 2024
ID: 646
Pages: 142

Europe Refurbished Medical Devices Market Size (2023 to 2028)

The size of the Refurbished Medical Devices Market in Europe was worth USD 2.49 billion in 2023. It is further estimated to be growing at a CAGR of 12.3% and worth USD 4.45 billion by 2028. Europe is the second-largest market globally after North America.

Factors such as the increasing number of hospitals and clinics across the region, the rising pressure of cost containment on healthcare organizations, and the wide availability of refurbished medical devices contribute to the European market expansion. Most healthcare organizations in Europe demand new equipment along with a massive demand for refurbished medical devices. Most of the hospitals have issues with budget cuts where there is a necessity to save capital investment; they are keen to invest in refurbished medical devices, which help to afford expensive equipment for the hospitals. All these factors are expected to boost market growth in the region. Healthcare organizations from the region's low and middle-economic areas hugely prefer refurbished medical devices due to their limited access to healthcare resources, which fuels the market growth in the region. The growing number of private hospitals and diagnostic centers demand refurbished medical devices in the developing markets, propelling the market expansion.

There is a growing requirement for advanced diagnostic equipment across hospitals as healthcare providers seek to enhance diagnostic capabilities and improve patient outcomes where there is a necessity for expensive diagnostic equipment, and they prefer refurbished medical devices. This is expected to create lucrative growth opportunities for the regional market. Cardiology devices and 3D printing technological devices are in high demand, which will boost the European market during the forecast period. Europe holds the second largest medical devices market share, which positively impacts the refurbished medical devices in the region. 

The major restraining factor for the European refurbished medical devices market is the quality of the medical devices. The quality issues among the end-user's outlook regarding refurbished medical devices and hesitation to purchase used medical devices by healthcare providers are hampering the regional market growth. The high cost of medical equipment in the international trading of medical devices is expected to restrain the European refurbished medical devices market. The growing government taxes for the import and export of refurbished medical devices are estimated to limit the region's adoption of refurbished medical devices, impacting the market revenue. 

The presence of certain stringent regulations by the regulatory authorities regarding the quality of refurbished medical devices will impact the market expansion due to complexity and time-consuming procedures. In some areas, regulations for importing and using refurbished medical devices in hospitals and healthcare centers are expected to limit the market expansion.

Impact of COVID-19 on the European Refurbished Medical Devices Market:

The Pandemic positively impacted Europe's refurbished medical devices market as the demand for ventilators and patient monitoring devices is high enough to provide for a large patient base. However, the supply chain disruptions and banning trade negatively impacted the European market growth. The market growth had slowed down temporarily during the Pandemic, and then, post-pandemic, it is seeing steady growth due to increasing demand from hospitals and clinics.

This research report on the European Refurbished Medical Devices Market has been segmented and sub-segmented into the following categories:

By Product:

  • Operating Room Devices & Surgical Devices
  • Patient Monitors 
  • Defibrillators 
  • Neurology Devices 
  • Medical Imaging Devices 
  • Cardiovascular & Cardiology Devices 
  • IV Therapy Systems 
  • Endoscopy Devices 
  • Intensive Care Systems 
  • Neonatal Intensive-Care Devices 
  • Other Medical Devices 

The Patient Monitoring devices segment dominated the European market revenue due to the higher adoption of patient monitors during the Pandemic crisis. Patient monitors are in high demand by healthcare organizations as they are crucial in maintaining patient health. 

Medical imaging devices are expected to have significant growth during the forecast period. The high cost of medical imaging devices and the presence of large suppliers in the market are anticipated to have segment growth during the forecast period. The investment in the MRI system is vast for healthcare providers, influencing them to choose refurbished devices by enhancing the market revenue of this segment. The growing number of suppliers will enhance the market growth opportunities. For instance, Summus Medical Solutions is Philips' retail partner and offers Philips' C-arms refurbished medical systems. The availability of advanced technological systems at lower prices will propel the European market value.

By Country: 

  • UK
  • France
  • Spain
  • Germany
  • Italy
  • Russia
  • Sweden
  • Denmark
  • Switzerland
  • Netherlands
  • Turkey
  • Czech Republic
  • Rest of Europe

Regionally, Germany and the UK held the dominant share of the European Refurbished Medical Devices Market due to the increasing adoption of refurbished devices because of budget cuts and financial pressures of the healthcare system. The presence of prominent market players in the region and the advanced healthcare infrastructure are significant contributors to the market expansion in these countries. The region's growing healthcare service providers and price sensitivity are estimated to drive the regional market. Germany is well-known for exporting medical devices to countries like India, which fuels the regional market. The increased cost of new medical devices and rising currency exchange rates enhance the adoption of refurbished medical devices, which minimizes capital investment in the country. All these factors are expected to propel the growth of European market revenue during the forecast period.

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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