North America Refurbished Medical Devices Market

North America Refurbished Medical Devices Market Size & Growth (2019 - 2024)

North America Refurbished Medical Devices Market was worth $2.76 billion in 2019 and estimated to be growing at a CAGR of 12.12%, to reach $4.89 billion by 2024.

North America leads the refurbished medical devices market due to the increasing trend of medical tourism and the growing privatization of the healthcare sector in this region. The refurbishment procedure consists of an initial physical check, analysis of all devices parameters, the substitution of non-functioning components and parts, checking & setting of all accessories, peripherals, and units, recording of all alterations made in the device, and sanction by the quality control department. The devices that are generally refurbished are intended to have long-use periods.

Drivers and Restraints

Factors such as the utmost reasonable and feasible alternative to costly high-end equipment, decrease in electronic and toxic waste, e-Marketing are enhancing the growth of this market and the increase in the number of the patient population are some of the reasons which are fuelling the market growth. Though, huge taxes imposed on the import of medical devices, lack of standardized refurbishment processes, lack of awareness for refurbished devices, and reluctance towards the purchase of refurbished devices are some of the reasons hindering the growth of this market.

This research report segmented and sub-segmented into the following categories:

• By Product Type: 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, And Other Medical Devices
• By Country: US, Canada and Rest of North America

The patient monitor device segment holds the major share in the market due to the less cost of the product, growing awareness for chronic diseases and technological developments such as innovations of portable patient monitoring devices. 

The USA is the leading market for refurbished medical devices due to better healthcare infrastructure.

Companies playing a dominant role in North America Refurbished Medical Devices Market profiled in this report are:

Companies like,

1. Siemens Healthcare systems
2. First Source Inc.
3. DMS Topline
4. Radio Oncology Systems Inc.
5. Johnson & Johnson
6. GE Healthcare
7. DRE Inc.
8. Block Imaging International Inc.
9. Integrity Medical systems Inc.
10. Everx Pvt Ltd.
11. Philips Healthcare
12. Agito Medical A/S
13. Soma Technology.