Refurbished medical equipment market to reach US$24 billion by 2027: TMR study

  • Rising prevalence of different chronic diseases is increasing the growth of the global refurbished medical equipment market
  • Rising demand for products from online distribution channels is driving the growth of the market

WILMINGTON, Del., August 31, 2022 /PRNewswire/ — Recent years have seen an increase in the patient population suffering from different diseases such as neurological diseases, respiratory diseases and gynecological diseases. The increased prevalence of these disorders has triggered the demand for refurbished medical equipment in healthcare facilities such as hospitals, especially in developing economies.

The Global refurbished medical equipment market should progress to CAGR by 13% during the forecast period between 2019 and 2027.

Growth strategies such as launching new products could help create well-established players in the Refurbished market that gain a competitive edge over other players.

The major players in the Refurbished Medical Equipment market are looking to engage in strategies such as collaborating with lesser-known players, which would help increase their market presence and increase their revenue shares.

A leading player in the market, GE Healthcare, in March 2020signed a collaboration agreement with automotive market player Ford Motor Company to increase production of ventilators with the aim of providing healthcare personnel with key medical equipment for the treatment of patients, who had tested positive for the virus.

Get an exclusive sample PDF copy of Refurbished Medical Equipment Market Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=858

Key Findings Refurbished Medical Equipment Market Research

  • Increase in product demand from e-commerce websites triggering the growth of Refurbished Medical Equipment Market: For several years, offline distribution channels such as hospital pharmacies remained the primary source for purchasing refurbished medical equipment as consumers opted to physically examine the product prior to purchase. However, with the growth of the e-commerce industry, different refurbished medical equipment is witnessing increased demand from different websites, which has helped in the growth of the market. The availability of products at a reduced cost and home delivery are some of the main reasons for the increase in demand on online distribution channels.
  • Rising Demand for Hospital Refurbished Medical Equipment Increasing Market Growth: Hospitals around the world have purchased a huge number of refurbished medical equipment. Some of the major reasons for the increase in demand from hospitals include increasing demand for low cost of ownership, decreasing patient flow, availability of reduced budgets in hospitals and increased reliance on hospitals for services. medical imaging.

Refurbished Medical Equipment Market: Key Drivers

  • Rising prevalence of different chronic diseases such as cancer and diabetes is a key growth driver for the global refurbished medical equipment market
  • Rising demand for products to treat patients suffering from cardiovascular diseases is driving the growth of the global refurbished medical equipment market

Ask for references – https://www.transparencymarketresearch.com/sample/sample.php?flag=ARF&rep_id=858

Refurbished Medical Equipment Market: Regional Market Overview

  • North America became the global market leader for refurbished medical equipment in 2018. Factors such as the ease of availability of different refurbished medical equipment such as multi-parameter devices and pulse oximeters, and the presence of healthcare infrastructure developed in countries such as the United States and Canada
  • Asia Pacific is expected to witness significant growth in the global market over the forecast period owing to the increasing penetration of major market players in countries such as India and China

Refurbished Medical Equipment Market: Key Players

The presence of numerous market players has caused the competition landscape in the global refurbished medical equipment market to be fragmented. Many of these players have accounted for a significant share of the overall market over the past few years.

The presence of new players in the market may increase the intensity of competition in the global refurbished equipment market in the coming years.

The major players in the refurbished market are investing heavily in research and development activities with the aim of producing improved products that would meet the demands of a large number of consumers.

Some of these players include GE Healthcare, Siemens Healthineers AG, Hitachi Ltd. and Canon Medical Systems Corporation.

Inquire Before You Buy – https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=858

The global refurbished medical equipment market is segmented as follows:

  • By product
    • CT scanners
    • MRI systems
    • X-ray systems
    • Ultrasound
    • Others
  • By end use
    • Hospitals
    • Diagnostic centers
    • Ambulatory surgery centers
    • Others
  • By geography
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

Modernization of healthcare in terms of infrastructure and services has pushed the healthcare industry to new heights, stay updated with Latest Healthcare Research Reports by Transparency Market Research:

Brachytherapy Devices Market: The brachytherapy applicator segment is expected to grow at a CAGR of 8.4% and account for the dominant share of the brachytherapy devices market during the forecast period.

IBD (Ulcerative Colitis and Crohn’s Disease) Treatment Market: Global IBD (Ulcerative Colitis and Crohn’s Disease) Treatment Market was valued at ~US$15.5 billion in 2018 and is expected to grow at a CAGR of around 6% from 2019 to 2027.

Wearable Medical Devices Market: The global wearable medical devices market is expected to reach more than US$183.8 billion by the end of 2031 and is expected to grow at a CAGR of 19.1% from 2022 to 2031.

Blood Glucose Monitoring Systems Market: The blood glucose monitoring systems market is expected to grow at a CAGR of 5.5% during the forecast period 2019-2027.

Respiratory Monitoring Devices Market: Rising Government Spending on Healthcare in Emerging Economies such as India and rising prevalence of respiratory disorders is expected to increase the global market over the forecast period.

Personal Mobility Devices Market: Rising prevalence of chronic diseases such as cerebral palsy, muscular dystrophy and arthritis across all age groups is expected to drive the demand for mobility assistive devices very advances.

Biobanking Market: The global biobanking market is expected to reach more than US$87.4 billion by the end of 2031 with a CAGR of 5.9% from 2022 to 2031

Vitamin D Testing Market: The global vitamin D testing market is expected to reach more than $1.06 billion by the end of 2031 with a CAGR of 5.8% from 2022 to 2031

About Transparency Market Research

Transparency Market Research, a global market research firm registered in Wilmington, Delaware, United States, provides personalized research and consulting services. Our proprietary blend of quantitative forecasting and trend analysis delivers forward-looking insights to thousands of decision makers. Our experienced team of analysts, researchers and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With broad research and analytical capability, Transparency Market Research uses rigorous primary and secondary research techniques to develop distinctive datasets and research material for trade reports.

For more information on research on leading industries, visit our YouTube channel and click subscribe for future update – https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Contact

Rohit Bhisey
Transparency Market Research Inc.
HEADQUARTERS IN THE CITY CENTER,
1000 N. West Street,
Office 1200, Wilmington, Delaware 19801 United States
Tel: +1-518-618-1030
UNITED STATES – Canada toll-free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
E-mail: [email protected]

Logo: https://mma.prnewswire.com/media/1682871/TMR_Logo_Logo.jpg

SOURCE Transparency Market Research

Comments are closed.