This refurbished medical equipment market report provides a detailed overview on the industry including both qualitative and quantitative information. It provides an overview based on devices and end user. The refurbished medical equipment market report analyzes the factors affecting the market from both demand and supply side and further evaluates market dynamic effecting the market during the forecast period i.e drivers, restraints, opportunities and future trend. The refurbished medical equipment market report also provides exhaustive PEST Analysis for all regions names North America, South America, Asia and Pacific region, Middle east and Africa and other vital region across the globe.
The refurbished medical equipment market report also includes the profiles of key patient monitoring manufacturing companies along with their SWOT analysis and market strategies. In addition, the refurbished medical equipment market report focuses on leading industry players with information such as company profiles, products and services offered, financial information, key development in past five year. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the market.
Data Bridge Market Research analyzes that the global refurbished medical equipment market which was USD 10.8 billion in 2022, is expected to reach USD 21.4 billion by 2030, and is expected to undergo a CAGR of 12.4% during the forecast period 2023 to 2030.
Definition
Refurbished medical equipment are the medical devices that are free from any kind of defects as these are restored to their original working condition. Refurbishment is a process of checking the effectiveness, quality and safety of the medical devices before re-using the equipment.
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Key Growth Drivers:
- Growth in the Public and Private Investments to Strengthen the Healthcare Industry
The growth in public and private investments to strengthen the healthcare industry acts as a significant driver in the global refurbished medical equipment market. Governments, healthcare organizations, and private investors are increasingly allocating funds to enhance healthcare infrastructure, improve patient care, and address the growing demand for cost-effective medical equipment solutions. This investment influx enables the adoption of refurbished medical equipment, which offers substantial cost savings without compromising on quality. It supports healthcare facilities in resource-constrained regions, promotes sustainability, and expands access to essential medical devices. Overall, the increasing investments in healthcare infrastructure drive the demand for refurbished medical equipment, propelling the growth of the global market.
- Rising Prevalence of Chronic Diseases
The rising prevalence of chronic diseases serves as a significant driver in the global refurbished medical equipment market. With an increasing burden of chronic conditions such as cardiovascular diseases, cancer, and respiratory disorders, there is a growing need for medical equipment to diagnose, monitor, and treat these ailments. Refurbished medical equipment offers a cost-effective alternative to new equipment, making it more accessible to healthcare providers and facilities. This enables them to meet the rising demand for quality healthcare services while managing budget constraints. As a result, the market for refurbished medical equipment is witnessing growth due to the escalating prevalence of chronic diseases worldwide.
The report emphasizes the participation of key entities, notably:
- Johnson & Johnson Services, Inc. (US)
- GENERAL ELECTRIC COMPANY (US)
- Koninklijke Philips N.V. (Netherland)
- CANON MEDICAL SYSTEMS CORPORATION (Japan)
- Siemens Healthcare Private Limited (Germany)
- Block Imaging (US)
Major Points in the Report
- Understanding the entirety of the refurbished medical equipment marketlandscape thoroughly.
- Exploring the leading entities in this sector, delving into their range of products and core approaches.
- Examining the prominent geographical areas where refurbished medical equipment marketdemonstrates significant growth.
- Keeping abreast of the latest shifts and advancements within the industry.
- Identifying specific areas or markets with high potential and promising expansion opportunities.
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Key Market Segmentation
By Product (Medical Imaging Equipment, Operating Room and Surgical Equipment, Patient Monitors, Cardiology Equipment, Urology Equipment, Neurology Equipment, Intensive Care Equipment, Endoscopy Equipment, IV Therapy Systems and Others), Application (Diagnostic and Therapeutic), End Users (Hospitals, Clinics, Diagnostic Centres and Others)
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