SEATTLE, UNITED STATES, UNITED STATES, February 8, 2022 /EINPresswire.com/ -- New Research Study "Pre-owned Medical Devices Market 2022 analysis by Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges and Investment Opportunities), Size, Share and Outlook" has been added to Coherent Market Insights.

The global pre-owned medical devices market is expected to record a CAGR of 10.5% during the forecast period (2021-2028). The market was valued at US$ 5,447.3 million in 2020 and is forecast to reach US$ 12,146.1 million by 2028 at.

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Market Drivers

Auctioning of pre-owned medical equipment and devices is expected to propel growth of the global pre-owned medical devices market over the forecast period. For example, a two-day inaugural launch of its BidMed Premier Auction Event was held by BidMed LLC, a source for the for the acquisition, disposition, and valuation of pre-owned medical equipment, in June 2018.

Moreover, increasing investment is also expected to propel growth of the global pre-owned medical devices market over the forecast period. For instance, in June 2020, OM2, a tech venture fund invested in Powered by MRP, a provider of new and pre-owned devices.

Covid-19 Impact Analysis

The emergence of Covid-19 has limited the export of medical devices, which is expected to boost demand for pre-owned medical devices. For example, the European Union restrictions on export of medical devices due to the COVID-19 pandemic, in March 2020.

Key Takeaways

The Nuclear Imaging and Medicine Devices segment is expected to record a CAGR of 13.5% during 2021-2028 and as valued US$ 564.5 million in 2020.

Market Trends

The global pre-owned medical devices market is witnessing several merger and acquisition activities. For example, Elite Medical Technologies, LLC and Future Medical Equipment, Ltd. was acquired by iProbo Medical, a supplier of refurbished medical equipment, in February 2020. Similarly, in March 2021, Hitachi Diagnostic Imaging was acquired by Fujifilm Healthcare and Platinum X-Ray Solutions, an imaging field service organization, was acquired by Block Imaging, in January 2021.

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Covid-19 Impact Analysis

The emergence of Covid-19 has led to refurbishment of unused equipment. For example, in March 2020, Bloom Energy Corp. partnered with Almo Corporation to refurbish unused, out-of-warranty ventilators for use in the management of COVID-19.

Market Restraints

Entry of OEMs in the market for pre-owned medical devices is expected to limit growth of the global pre-owned medical devices market. Moreover, OEMs often limit the software access and limit passwords through the use of ‘locational licenses’, which also limits market growth.

Key Players

Major players operating in the global pre-owned medical devices market include, Advanced Ultrasound Electronics, AGITO Medical A/S, Canon Medical Systems Corporation, GE Healthcare Ltd., Probo Medical, Philips Healthcare, Siemens Healthcare, and Soma Technology, Inc.

Key Developments

Major players operating in the global pre-owned medical devices market are focused on adopting merger and acquisition strategies to expand their product portfolio. For example, Ganim Medical, a re-furbisher of medical equipment, was acquired by Centurion Service Group, a medical equipment liquidation company, in July 2019. Similarly, in July 2020, certain assets of KPI Healthcare, Inc. were acquired by Probo Medical, a supplier of refurbished medical equipment.

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➡Compares data from North America, South America, Asia Pacific Europe and Middle East Africa, alongside individual chapters on each region .

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The following are the study objectives for this report:

· SWOT Analysis focuses on worldwide main manufacturers to define, assess, and analyse market competition. By kind, application, and region, the market is defined, described, and forecasted.
· Examine the global and main regional market potential and advantage, opportunity and challenge, constraints and risks.
· Determine whether trends and factors are driving or limiting market growth.
· By identifying high-growth categories, stakeholders would be able to analyse market potential.
· Conduct a strategic study of each submarket's growth trends and market contribution.
· Expansions, agreements, new product launches, and acquisitions in the market are all examples of competitive developments.
· To create a strategic profile of the main players and analyse their growth plans in depth.

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