The size of the Refurbished Medical Devices Market in Latin America was worth USD 1.56 billion in 2022. It is further estimated to be growing at a CAGR of 12.83% and value USD 2.85 billion by 2027.
The rapidly changing healthcare landscape has made it difficult to decide how to invest in the new major medical device to intimidate many healthcare specialists. Purchasing a refurbished medical device is a progressively attractive option for several customers who are looking to attain necessary medical devices while decreasing what can often be extreme costs.
The market for refurbished medical devices is increasing rapidly. A key factor that drives the growth of refurbished medical devices is the growing demand for refurbished medical devices all around the region. Moreover, enhanced treatment in cancer and cardiovascular diseases and cumulative demand for patient safety increase the growth of refurbished medical devices.
Intense competition and uncertain return on investments are the major factors hindering the growth of the market.
This research report on the Latin America 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, Mexico is the leading region for this market and is estimated to witness the highest growth.
Notable companies operating in the Latin American 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., Everex Pvt Ltd., Philips Healthcare, Agito Medical A/S and Soma Technology.
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