The pre-owned medical devices market has been anticipated to experience innumerable growth opportunities in the forthcoming years. These growth avenues in the global market have been attributed to the high cost of novel devices compared to conventional ones. In addition to this, favorable after-sales services have also been estimated to fuel the growth prospects in the global market in the foreseeable years.
The key players operating, for example, stand-alone third-party refurbishers, refurbishers, and the OEMs in the global market are providing favorable or customized after-sales services after the selling process of these refurbished pre-owned medical devices. This factor is predicted to stimulate demand opportunities in the global market during the forecast period.
The healthcare institutions are basically owned by the healthcare institution. And at the later stages, these are the subjects to repurchase or sell after refurbishment. For the use of these devices, certain certifications and marks are required in a few countries around the world.
Pre-Owned Medical Devices Market: Key Trends
The high cost of c-arm devices, nuclear imaging as well as medical devices, and CT machines have been projected to drive the growth impetus in the pre-owned medical devices market. Further, the rising concern related to e-waste has also been driving the growth prospects in the global market in the years to come. The manufacturing process of different devices is likely to put a certain impact on the environment. The disposing of the utilized medical devices need such medical device. There has been a consequent requirement to manufacture novel devices. These practices are reconsidered at an increased rate in order to analyze the impact on the environment. So, owing to these factors, the global market is predicted to grow at a noticeable speed in the upcoming years.
A few initiatives are taken in order to ban pre-owned medical devices. This point is likely to hinder the growth impetus in the global market during the forecast period. The reason for these obstacles is on the grounds of some serious safety issues. In addition to this, negative perception related to the quality of these refurbished pre-owned medical devices has also been estimated to limit the growth impetus in the global market. Some existing negative perception related to the accuracy and efficacy of results provided by these refurbished pre-owned medical devices is also likely to hinder the growth avenues in the pre-owned medical devices market.
Pre-Owned Medical Devices Market: Competitive Dynamics and Key Developments
The key players dealing in the pre-owned medical devices market provide a detailed competitive landscape and concentrating to launch novel products with required approvals. These prominent players have been incorporating novel strategies for the expansion of market prospects in the forthcoming years. Some of the commonly used growth strategies are product development, expansion of companies’ distribution network, mergers and acquisitions, portfolio diversion, regional expansion, analysis of organizations strengths and weaknesses, and expansion of the companies’ footprints through subsidiaries and partnership.
The key players in the pre-owned medical devices market are:
- GE Healthcare Ltd.
- Siemens Healthcare
- AGITO Medical A/S
- Canon Medical Systems Corporation
- Philips Healthcare
- Advanced Ultrasound Electronics
- Soma Technology, Inc.
- Probo Medical
Pre Owned Medical Devices Market: Regional Assessment
The pre owned medical devices market has been spread around various geographical locations across the world, including North America, the Middle East & Africa, Europe, Latin America, and Asia Pacific. Among these geographical locations, the North America region is likely to hold a dominating position in the global market. This market dominance is attributed to the well-established healthcare infrastructure in the region. In addition to this, the availability of cost-effective medical devices and higher healthcare expenditure are also contributing to the expansion avenues in the regional market during the forecast period.
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