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Refurbished Medical Equipment Market - Global Industry Analysis

Refurbished Medical Equipment Market by Product (Operating Room Equipment & Surgical Equipment, Patient Monitors, Medical Imaging Equipment, Defibrillators, Cardiovascular & Cardiology Equipment, Neurology Equipment, Endoscopy Equipment, Intensive Care Systems, Neonatal Intensive Care Systems, IV Therapy Systems, and Other Equipments): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Published Date: 19-Aug-2021 Category: Medical Device Report Format : PDF Pages: 182 Report Code: ZMR-2509 Status : Published

The global Refurbished Medical Equipment market accounted for USD 10.5 Billion in 2020 and is expected to reach USD 28.7 Billion by 2028, growing at a CAGR of around 12.8% between 2021 and 2028.

Description

Market Overview                                                                                                                     

The global Refurbished Medical Equipment market accounted for USD 10.5 Billion in 2020 and is expected to reach USD 28.7 Billion by 2028, growing at a CAGR of around 12.8% between 2021 and 2028.      

Purchasing refurbished medical equipment has become a lucrative option for most of the hospitals as well as diagnostic centers. In recent times, most of the therapeutic, diagnostic, and patient monitoring medical equipment such as AEDs, ECGs, defibrillators, vital sign monitors, spirometers, ventilators, pulse oximeters, IV pumps, and respiratory devices are being acquired as refurbished equipment at a reduced cost.

In addition, the key players in the market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the refurbished medical equipment market study.

In a key event that can contribute significantly towards refurbished medical equipment market value, in September 2018, TriMedx LLC—a clinical engineering & medical equipment lifecycle management services providing firm—announced the acquisition of Aramark’s Healthcare Technologies unit for US$ 300 million. Reportedly, the purchase is anticipated to enlarge TRIMEDX’s customer base that is projected to improve its clinical and financial results, as well as equipment security and compliance.

COVID-19 Impact Analysis  

The global Refurbished Medical Equipment market has witnessed a significant growth during the pandemic. This is mainly attributed to the fact that the COVID-19 pandemic situation has led to the rise in demand for public health surveillance and clinical care. However, the rising difficulty in health care delivery has slightly challenged the market in 2020.

However, the market would remain bullish in upcoming year.  The growth of the global Refurbished Medical Equipment market size is estimated on the basis of the COVID-19 outbreak. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.

Global Refurbished Medical Equipment Market Size

Growth Factors

Meteorically rising geriatric population along with growing cases of chronic ailments is anticipated to influence the growth graph of refurbished medical equipment market in the years ahead. Apart from this, large patient population base in emerging countries along with growing awareness about the cost-efficiency of the product among the patients in these regions is anticipated to drive the expansion of refurbished medical equipment market over the forthcoming years.

Report Scope:  

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Segment Analysis Preview  

The main products available in this refurbished medical equipment market are operating room equipment & surgical equipment, patient monitors, medical imaging equipment, defibrillators, cardiovascular & cardiology equipment, neurology equipment, endoscopy equipment, intensive care systems, Neonatal Intensive Care Systems, IV therapy systems, and other equipments. Among them, the demand for patient monitors is relatively higher and the trend is anticipated to remain so over the next few years.

Regional Analysis Preview  

Regionally, North America has been leading the worldwide refurbished medical equipment market and is anticipated to continue on the dominant position in the years to come, states the refurbished medical equipment market study. The presence of a well-developed medical and healthcare infrastructure along with favorable compensation policies is the main factor behind the dominance of the North America refurbished medical equipment market. The high number of market players being headquartered in North America is another significant factor that is supporting this regional market. In addition, supportive government laws for use and sale of refurbished medical equipment is anticipated to chart a profitable growth map for refurbished medical equipment market in the region.

Global Refurbished Medical Equipment Market Share

Key Market Players & Competitive Landscape

Some of the major players of the global Refurbished Medical Equipment market include Philips Healthcare, GE Healthcare, Siemens Healthineers, Agito Medical A/ S, DRE Medical, Inc., Block Imaging International, Inc., Radiology Oncology Systems, Inc., Soma Technology, Inc., Everx Pvt Ltd. and Integrity Medical Systems, Inc. among others.

Global Refurbished Medical Equipment Market Regional Analysis

The global Refurbished Medical Equipment market is segmented as follows:

By Products

  • Operating Room Equipment & Surgical Equipment
  • Patient Monitors
  • Medical Imaging Equipment
  • Defibrillators
  • Cardiovascular & Cardiology Equipment
  • Neurology Equipment
  • Endoscopy Equipment
  • Intensive Care Systems
  • NEONATAL INTENSIVE CARE SYSTEMS
  • IV Therapy Systems
  • bio-PE
  • Other Equipments

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Product
        • 2.1.1.2. Market Attractiveness Analysis, By Applications
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Refurbished Medical Equipment Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Refurbished Medical Equipment Market – Product Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Product, 2020 & 2028
    • 4.2. Operating Room Equipment & Surgical Equipment
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Patient Monitors
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Medical Imaging Equipment
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Defibrillators
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.6. Cardiovascular & Cardiulogy Equipment
      • 4.6.1. Market Size and Forecast, By Region (USD Billion)
      • 4.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.6.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.7. Neurulogy Equipment
      • 4.7.1. Market Size and Forecast, By Region (USD Billion)
      • 4.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.7.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.8. Endoscopy Equipment
      • 4.8.1. Market Size and Forecast, By Region (USD Billion)
      • 4.8.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.8.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.9. Intensive Care Systems
      • 4.9.1. Market Size and Forecast, By Region (USD Billion)
      • 4.9.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.9.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.10. Neonatal Intensive Care Systems
      • 4.10.1. Market Size and Forecast, By Region (USD Billion)
      • 4.10.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.10.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.11. IV Therapy Systems
      • 4.11.1. Market Size and Forecast, By Region (USD Billion)
      • 4.11.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.11.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.13. Other Equipment
      • 4.13.1. Market Size and Forecast, By Region (USD Billion)
      • 4.13.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.13.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Refurbished Medical Equipment Market – Regional Analysis
    • 5.1. Overview
      • 5.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 5.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 5.2. North America
      • 5.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.2.2. North America Market Revenue, By Product, 2016 – 2028
      • 5.2.3. U.S.
        • 5.2.3.1. U.S. Market Revenue, By Product, 2016 – 2028
      • 5.2.4. Canada
        • 5.2.4.1. Canada Market Revenue, By Product, 2016 – 2028
      • 5.2.5. Mexico
        • 5.2.5.1. Mexico Market Revenue, By Product, 2016 – 2028
    • 5.3 Europe
      • 5.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.3.2. Europe Market Revenue, By Product, 2016 – 2028
      • 5.3.3. Germany
        • 5.3.3.1. Germany Market Revenue, By Product, 2016 – 2028
      • 5.3.4. France
        • 5.3.4.1. France Market Revenue, By Product, 2016 – 2028
      • 5.3.5. U.K.
        • 5.3.5.1. U.K. Market Revenue, By Product, 2016 – 2028
      • 5.3.6. Italy
        • 5.3.6.1. Italy Market Revenue, By Product, 2016 – 2028
      • 5.3.7. Spain
        • 5.3.7.1. Spain Market Revenue, By Product, 2016 – 2028
      • 5.3.8. Rest of Europe
        • 5.3.8.1. Rest of Europe Market Revenue, By Product, 2016 – 2028
    • 5.4. Asia Pacific
      • 5.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.4.2. Asia Pacific Market Revenue, By Product, 2016 – 2028
      • 5.4.3. China
        • 5.4.3.1. China Market Revenue, By Product, 2016 – 2028
      • 5.4.4. Japan
        • 5.4.4.1. Japan Market Revenue, By Product, 2016 – 2028
      • 5.4.5. India
        • 5.4.5.1. India Market Revenue, By Product, 2016 – 2028
      • 5.4.6. South Korea
        • 5.4.6.1. South Korea Market Revenue, By Product, 2016 – 2028
      • 5.4.7. South-East Asia
        • 5.4.7.1. South-East Asia Market Revenue, By Product, 2016 – 2028
      • 5.4.8. Rest of Asia Pacific
        • 5.4.8.1. Rest of Asia Pacific Market Revenue, By Product, 2016 – 2028
    • 5.5. Latin America
      • 5.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.5.2. Latin America Market Revenue, By Product, 2016 – 2028
      • 5.5.3. Brazil
        • 5.5.3.1. Brazil Market Revenue, By Product, 2016 – 2028
      • 5.5.4. Argentina
        • 5.5.4.1. Argentina Market Revenue, By Product, 2016 – 2028
      • 5.5.5. Rest of Latin America
        • 5.5.5.1. Rest of Latin America Market Revenue, By Product, 2016 – 2028
    • 5.6. The Middle-East and Africa
      • 5.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.6.2. The Middle-East and Africa Market Revenue, By Product, 2016 – 2028
      • 5.6.3. GCC Countries
        • 5.6.3.1. GCC Countries Market Revenue, By Product, 2016 – 2028
      • 5.6.4. South Africa
        • 5.6.4.1. South Africa Market Revenue, By Product, 2016 – 2028
      • 5.6.5. Rest of Middle-East Africa
        • 5.6.5.1. Rest of Middle-East Africa Market Revenue, By Product, 2016 – 2028
  • Chapter No. 7: Refurbished Medical Equipment Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Technology Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. The Middle-East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter No. 8: Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Refurbished Medical Equipment Market: Company Market Share, 2019
      • 8.1.2. Global Refurbished Medical Equipment Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 8.1.3. Global Refurbished Medical Equipment Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Refurbished Medical Equipment Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Product Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9: Company Profiles
    • 9.1. Philips Healthcare
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Product Portfolio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
      • 9.1.7. Recent Developments
    • 9.2. GE Healthcare
    • 9.3. Siemens Healthineers
    • 9.4. Agito Medical A/ S
    • 9.5. DRE Medical, Inc.
    • 9.6. Block Imaging International, Inc.
    • 9.7. Radiulogy Onculogy Systems, Inc.
    • 9.8. Soma Technology, Inc.
    • 9.9. Everx Pvt Ltd.
    • 9.10. Integrity Medical Systems, Inc.
  • Chapter No. 10: Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter No. 11: Research Methodology
    • 11.1. Research Methodology
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Product
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Refurbished Medical Equipment Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Product, 2020 & 2028 
FIG NO. 7. Global Refurbished Medical Equipment Market for Operating Room Equipment & Surgical Equipment, Revenue (USD Billion) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Refurbished Medical Equipment Market for Operating Room Equipment & Surgical Equipment, By Country, 2020 & 2028
FIG NO. 9. Global Refurbished Medical Equipment Market for Patient Monitors, Revenue (USD Billion) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Refurbished Medical Equipment Market for Patient Monitors, By Country, 2020 & 2028
FIG NO. 11. Global Refurbished Medical Equipment Market for Medical Imaging Equipment, Revenue (USD Billion) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Refurbished Medical Equipment Market for Medical Imaging Equipment, By Country, 2020 & 2028
FIG NO. 13. Global Refurbished Medical Equipment Market for Defibrillators, Revenue (USD Billion) 2016 – 2028
FIG NO. 14. Comparative Revenue Analysis of Refurbished Medical Equipment Market for Defibrillators, By Country, 2020 & 2028
FIG NO. 15. Global Refurbished Medical Equipment Market for Cardiovascular & Cardiology Equipment, Revenue (USD Billion) 2016 – 2028
FIG NO. 16. Comparative Revenue Analysis of Refurbished Medical Equipment Market for Cardiovascular & Cardiology Equipment, By Country, 2020 & 2028
FIG NO. 17. Global Refurbished Medical Equipment Market for Neurology Equipment, Revenue (USD Billion) 2016 – 2028
FIG NO. 18. Comparative Revenue Analysis of Refurbished Medical Equipment Market for Neurology Equipment, By Country, 2020 & 2028
FIG NO. 19. Global Refurbished Medical Equipment Market for Endoscopy Equipment, Revenue (USD Billion) 2016 – 2028
FIG NO. 20. Comparative Revenue Analysis of Refurbished Medical Equipment Market for Endoscopy Equipment, By Country, 2020 & 2028
FIG NO. 21. Global Refurbished Medical Equipment Market for Intensive Care Systems, Revenue (USD Billion) 2016 – 2028
FIG NO. 22. Comparative Revenue Analysis of Refurbished Medical Equipment Market for Intensive Care Systems, By Country, 2020 & 2028
FIG NO. 23. Global Refurbished Medical Equipment Market for Neonatal Intensive Care Systems, Revenue (USD Billion) 2016 – 2028
FIG NO. 24. Comparative Revenue Analysis of Refurbished Medical Equipment Market for Neonatal Intensive Care Systems, By Country, 2020 & 2028
FIG NO. 25. Global Refurbished Medical Equipment Market for IV Therapy Systems, Revenue (USD Billion) 2016 – 2028
FIG NO. 26. Comparative Revenue Analysis of Refurbished Medical Equipment Market for IV Therapy Systems, By Country, 2020 & 2028
FIG NO. 27. Global Refurbished Medical Equipment Market for Other Equipments, Revenue (USD Billion) 2016 – 2028
FIG NO. 28. Comparative Revenue Analysis of Refurbished Medical Equipment Market for Other Equipments, By Country, 2020 & 2028
FIG NO.29. Global Refurbished Medical Equipment Market Revenue Share, By Region, 2020 & 2028
FIG NO. 30. North America Refurbished Medical Equipment Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 31. Porter’s Five Forces Analysis for Global Refurbished Medical Equipment Market
FIG NO. 32. PEST Analysis for Global Refurbished Medical Equipment Market
FIG NO. 33. Pricing Analysis for Global Refurbished Medical Equipment Market
FIG NO. 34. Value Chain Analysis for Global Refurbished Medical Equipment Market
FIG NO. 35. Company Share Analysis, 2019
FIG NO. 36. Radar Determinant Chart, 2019
FIG NO. 37. Company Strategic Developments – Heat Map Analysis
FIG NO. 38. Philips Healthcare Business Segment Revenue Share, 2020 (%)
FIG NO. 39. Philips Healthcare Geographical Segment Revenue Share, 2020 (%)
FIG NO. 40. Market Channels
FIG NO. 41. Marketing Channel Development Trend
FIG NO. 42. Growth in World Gross Product, 2008-2018
FIG NO. 43. Research Methodology – Detailed View
FIG NO. 44. Research Methodology


List of Tables 

TABLE NO. 1. Global Refurbished Medical Equipment Market: Snapshot
TABLE NO. 2. Quarterly Refurbished Medical Equipment Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Refurbished Medical Equipment Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion) 
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion) 
TABLE NO. 6. Global Refurbished Medical Equipment Market for Operating Room Equipment & Surgical Equipment, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Refurbished Medical Equipment Market for Patient Monitors, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Refurbished Medical Equipment Market for Medical Imaging Equipment, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global Refurbished Medical Equipment Market for Defibrillators, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global Refurbished Medical Equipment Market for Cardiovascular & Cardiology Equipment, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 11. Global Refurbished Medical Equipment Market for Neurology Equipment, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12. Global Refurbished Medical Equipment Market for Endoscopy Equipment, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 13. Global Refurbished Medical Equipment Market for Intensive Care Systems, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 14. Global Refurbished Medical Equipment Market for Neonatal Intensive Care Systems, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 15. Global Refurbished Medical Equipment Market for IV Therapy Systems, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 16. Global Refurbished Medical Equipment Market for bio-PE, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 17. Global Refurbished Medical Equipment Market for Other Equipments, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 18. Global Refurbished Medical Equipment Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 19. North America Refurbished Medical Equipment Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 20. North America Refurbished Medical Equipment Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 21. U.S. Refurbished Medical Equipment Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 22. Canada Refurbished Medical Equipment Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 23. Mexico Refurbished Medical Equipment Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 24. Drivers for the Refurbished Medical Equipment Market: Impact Analysis
TABLE NO. 25. Restraints for the Refurbished Medical Equipment Market: Impact Analysis
TABLE NO. 26. Major Buyers of Refurbished Medical Equipment  
TABLE NO. 27. Distributors/Traders List of Refurbished Medical Equipment
TABLE NO. 28. Global Refurbished Medical Equipment Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 29: Global Refurbished Medical Equipment Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)   


 

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Refurbished Medical Equipment market. Zion Research has collected and analyzed key data belong to the global Refurbished Medical Equipment market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Refurbished Medical Equipment across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Refurbished Medical Equipment industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Refurbished Medical Equipment market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Refurbished medical equipment market is expected to witness a significant growth in the coming five years owing to the large patient population base coupled with increasing chronic diseases ( Cancer, cardiovascular diseases and etc.) globally. For example; as per the International Cardiovascular Disease Statistic; it’s been projected that by 2020, chronic diseases will account for almost three-fourths of all deaths. 71% of deaths due to ischemic heart disease, 75 percent due to stroke and 70% due to diabetes will occur in developing countries, 60 percent of the burden of chronic diseases will occur in developing countries and cardiovascular disease is now more numerous in India and China than in all economically developed countries in the world added together. So the medical institutions and healthcare professionals must ensure that their medical equipment meets the needs of every patient. New medical equipment can cost thousands and thousands of dollars. So to meet the demand and to provide patients with the best quality of care possible, refurbished medical equipment are becoming so popular.

Increasing incidences of cardiovascular diseases (CVD) and other chronic diseases, development of better healthcare infrastructure and more efficient healthcare technologies are some of the driving factors for the growth in this market in coming five years. In addition, the benefits of refurbished medical equipment such as cost-effectiveness and increased successful outcomes are expected to foster the growth in this market. Furthermore, increasing number of partnerships and agreements among original equipment manufacturers and third-party refurbishes. However, lack of awareness about the benefits of refurbished medical equipment is expected to hamper the growth in this market. In spite of these barriers, emerging markets in developing regions can be an opportunity in this market.

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The global market for refurbished medical equipment is segmented on the basis of product and region. On the basis of product, the global market for refurbished medical equipment can be categorized into; operating room equipment & surgical equipment, patient monitors, medical imaging equipment, defibrillators, cardiovascular & cardiology equipment, neurology equipment, endoscopy equipment, intensive care systems, neonatal intensive care systems, iv therapy systems, and other equipments. This segment is expected to dominate by the patient monitor equipment by accounting for the largest share in the market owing to increasing awareness about chronic diseases and technological advancements to develop more innovative products.

In terms of geography, refurbished medical equipment market can be segmented into North America, Europe, Asia Pacific, Latin America and the Middle East and Africa with its further bifurcation into major countries including China, Japan, India, U.S. Germany, France, UK, and Brazil. North America is anticipated to dominate the refurbished medical equipment market by capturing the largest market share within the forecast period owing to the increasing geriatric population coupled with the increasing incidences of chronic diseases. For example, U.S. Census Bureau, 2013, in North America, population aged 65 and over is projected to reach 20.7% by 2030 and 21.4% by 2050 of the total world population. Europe is expected to follow the North America in this market within the forecast period. Refurbished medical equipment market of Europe is undergoing tremendous changes with increasing expenditure for healthcare infrastructure.

Asia Pacific is expected to witness the fastest growth with the highest CAGR in the coming five years. Major driving factors in this region are increasing medical expenditure and raising awareness about refurbished medical devices. Latin America and Middle East & Africa are expected to show a healthy market growth for refurbished medical equipment within the forecast period. Especially in Brazil, the high growth rate in the over-60 population over the next 15 years and increasing prevalence of chronic diseases are expected to fuel the market growth in this market.

Some of the key players of refurbished medical equipment market such as Philips Healthcare, GE Healthcare, Siemens Healthineers, Agito Medical A/S, DRE Medical, Inc., Block Imaging International, Inc., Radiology Oncology Systems, Inc., Soma Technology, Inc., Everx Pvt Ltd. and Integrity Medical Systems, Inc. among others. 

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FrequentlyAsked Questions

The global Refurbished Medical Equipment Market was valued at USD 10.5 Billion in 2020.

The global Refurbished Medical Equipment Market is expected to reach USD 28.7 Billion by 2028, growing at a CAGR of 12.8% between 2021 to 2028.

Some of the key factors driving the global Refurbished Medical Equipment Market growth are rising geriatric population along with growing cases of chronic ailments.

North America has been leading the worldwide refurbished medical equipment market and is anticipated to continue on the dominant position in the years to come.

Some of the major players of global Refurbished Medical Equipment market Philips Healthcare, GE Healthcare, Siemens Healthineers, Agito Medical A/ S, DRE Medical, Inc., Block Imaging International, Inc., Radiology Oncology Systems, Inc., Soma Technology, Inc., Everx Pvt Ltd. and Integrity Medical Systems, Inc. among others.

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