Market Research Future (MRFR) in its recently published study report asserts that the already booming market of Refurbished Medical Devices is expected to gain prominence over the forecast period. The market is forecasted to grow at a CAGR of 10.8 % during 2018-2023.
Refurbished Medical Devices are defined as the used medical devices which are restored by the manufacturer or other repairing expert into nearly original conditions. Increasing prevalence of cancer and other diseases has driven the growth of Refurbished Medical Devices Market. Moreover, increasing privatization, presence of many low and medium budget hospitals and clinics and increasing demand for the refurbished medical devices due to its low cost also have a considerable impact of the growth of the market. While huge taxes on import of medical devices, lack of awareness regarding refurbished medical devices and unwillingness to pay for refurbished devices may restrain the growth of the market.
Global Refurbished Medical Devices Market – Key Players
- GE Healthcare (US)
- Stryker Corporation (US)
- Phillips Healthcare (Netherlands)
- Siemens Healthcare (Germany)
- Agito Medical (Denmark)
- DMS Topline (U.S.)
- Johnson & Johnson (US)
- First Source, Inc. (U.S.)
- Soma Technology (U.S.)
- Toshiba Medical System (Japan)
- Block Imaging International (US)
Global Refurbished Medical Devices Market – Competitive Analysis
Presence of many of the small and medium sized organization has created a competition in the market. Many of the major players are increasing in alliances and collaboration amongst the leading player will helped to decrease the competition in the market.
GE Healthcare is one of the leading pharmaceutical company headquartered in US. Only this company offer a certified OEC C-arm with genuine OEC parts, the service and maintenance procedures which meet high OEC standards. GoldSeal certified products of this company ensures high quality equipment. It held the largest share in global refurbished medical devices market.
Stryker Corporation is a Fortune 500 medical technologies headquartered in US. They has second leading refurbished medical devices market. Stryker’s Sustainability Solutions is the leading provider of refurbished and remanufacturing services for single-use medical devices.
Agito Medical is a leading provider of refurbished medical equipment based in Denmark. They offers the refurbished devices at very low cost saving up to 30%-40% compared to buying a new system with 12 mounts warranty. They also offers a trade-in option including buyback price and removal of your old system.
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Global Refurbished Medical Devices Market – Segmentation
Global refurbished medical devices market is segmented on the basis of diagnostic devices into patient monitors, X-Ray Machines, CT scanners, Ultrasound Systems, MRI machines, ECG systems, and other. On the basis of therapeutic devices the market is segmented in heart-lung machines, coagulation analyzers, infant incubators and warmers, defibrillators, infusion pumps and other.
Patients monitor devices covers the largest market share in global refurbished medical devices market on the basis of diagnosis. This is due to increasing awareness for chronic diseases and low product cost and technological advances in the patients monitoring devices.
Global Refurbished Medical Devices Market – Regional Analysis
On regional basis, Global Refurbished Medical Devices Market is dominated by North America. Increasing awareness about refurbished devices and well developed healthcare sector has driven the market of North America. Europe and Asia Pacific share nearly similar type of market. But Asia Pacific refurbished medical devices market has the highest growth rate. Middle East and Africa has the least market for the refurbished medical devices.
Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
Continued….
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