According to the report, the Global Refurbished Medical Devices Market is estimated to be USD 8.61 billion in 2020 and predicted to rise to USD 15.52 billion by 2025, with a CAGR of 12.5%.
The Refurbished Medical Devices Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc.
The market is segmented 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). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
Development of the private healthcare sector has augmented the interest of high-quality imaging modalities, as private hospitals emphasis strongly on returns on investment. The key factor that drives the growth of refurbished medical devices is the growing demand for refurbished medical devices all around the region. The adverse outlook of public organizations regarding the procurement of refurbished medical devices and lack of standardization policies related to the use of refurbished medical devices are some of the main limitations obstructing the growth of the market.
The patient monitor device covers the largest share in the market due to the low cost of productivity, growing awareness for chronic diseases and technological developments such as innovations of portable patient monitoring devices. The medical imaging device segment is predicted to grow the highest rate in the forecast period.
North America leads the global market due to the growing aging population and the enormous prevalence of various diseases (such as cancer and CVD) are driving the growth of the refurbished medical equipment market in the North American region. The asia-pacific market is estimated to grow at the highest CAGR. India is one of the largest evolving medical device markets globally.
The key players in the refurbished medical devices market 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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