The latest published report by Polaris Market Research “Refurbished Medical Imaging Equipment Market Share, Size, Trends, Industry Analysis Report, By Product Type (CT Scanners, MRI Scanners, X-ray Systems, Ultrasound Systems, SPECT and PET Scanners, Urology Equipment, Neurology Equipment, Endoscopy Equipment, IV Therapy Systems, and Others); By End User (Hospitals, Diagnostic Imaging Centers, and Others), By Regions; Segment Forecast, 2020 –2027” the report covers an exhaustive list of market tables and figures, thus providing in-depth analytical data for segments across different regions.
The global refurbished medical imaging equipment market was valued at USD 11.7 billion in 2019 and size is expected to reach USD 21.14 billion by 2027 to grow at a CAGR of 7.7% during the forecast period. Refurbished equipment is second hand old equipment restoring the devices to original condition without damage to the specifications. The safety and effectiveness of the refurbished equipment is comparable to new devices. In refurbishment process the equipment will undergo changes like decontamination, calibration, repair, software upgrade, cosmetic rehabilitation, replacement of worn parts, and other procedures to match to original OEM specifications.
The refurbished medical imaging equipment is cost-effective which can be bought for as low as 30% to 70% of the original equipment cost. The cost of these second hand devices, depending on features, age of the system and the condition. By purchasing refurbished equipment, the hospitals can upgrade their imaging capability at the lower cost.
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Market participants such as GE Healthcare, Siemens Healthineers, Koninklijke Philips N.V., Block Imaging, SOMA TECH INTL., US Med-Equip, Avante Health Solutions, Everx Pvt Ltd., Integrity Medical Systems, Inc., Radiology Oncology Systems, Inc., Master Medical Equipment, Hilditch Group, Fair Medical Co. Ltd., Future Health Concepts, US Medical Systems, LLC., Nationwide Imaging Services, Pacific Healthcare Imaging, LLC, Venture Medical ReQuip, Inc., Desert Tech Medical Systems, and Hi Tech International Group, Inc. are operating in the concerned market.
The companies in the market are focussing on acquisitions to increase their market share. For instance, recently in February 2020, the U.S., based supplier of refurbished medical equipment Probo Medical, announced the acquisition of Elite Medical Technologies, LLC and Future Medical Equipment, Ltd. The former is the renowned re-seller of the pre-owned digital medical devices, while the latter is specialized in de-installation and sales of second hand equipment.
The market growth is primarily attributed to increasing demand for cost-effective medical imaging equipment, increasing adoption of refurbished equipment in private healthcare sector, tax incentives, extended service life of refurbished equipment and growing e commerce. There is an increasing demand for low cost medical imaging equipment by small and mid-level hospitals, diagnostic centres and private medical institutions due to lack of enough financial resources.
Emerging and low income countries are the lucrative target destination for the concerned market. In India, district, municipal and less sophisticated hospitals often go for used medical devices due to budget constraints. Indian hospitals demand continuous service back-up for instruments and the spare parts being sold and international companies need to have liaison offices in the country to promote the sale of these devices
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Table of Contents
Refurbished Medical Imaging Equipment Market Insights
Refurbished Medical Imaging Equipment Market Assessment by Product Type
- CT Scanners
- MRI Scanners
- X-ray Systems
- Ultrasound Systems
- SPECT and PET Scanners
- Urology Equipment
- Neurology Equipment
- Endoscopy Equipment
- IV Therapy Systems
Refurbished Medical Imaging Equipment Market, by End Use
- Diagnostic Imaging Centers
Refurbished Medical Imaging Equipment Market Assessment by Geography
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- MEA (Saudi Arabia, UAE, Israel, South Africa)
List of Tables
List of Figures
For Further Insights and Segment-Specific Information, Contact a Market Analyst at : https://www.polarismarketresearch.com/industry-analysis/refurbished-medical-imaging-equipment-market/speak-to-analyst
The report can be customized on the basis of regional analysis, segment analysis, industry outlook and competitive analysis. Some of the major focus points which are covered in the report include:
- Industry Trends, opportunity and challenges in the market
- Role of key players across the value chain
- End-User analysis to define the market strategy
- Competitive mapping
- Regional and country level breakdown
These insights are included in the report which would help you to have a realistic overview of the overall market including the competition, investment opportunities, restraints and challenges, regulatory factors which might affect the market growth. Moreover, the report would help to identify the regional market growth opportunities for different segments covered in the report.
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