Refurbished medical equipment market is driven by rise in prevalence of various chronic conditions.

WILMINGTON, DELAWARE , UNITED STATES, September 1, 2023/EINPresswire.com/ -- Transparency Market Research presents broad-ranging research of the “Refurbished Medical Equipment Market” with holistic insights into significant variables and features driving the future growth of the market. Rising demand for capital intensive diagnostic equipment coupled with rising hospital budget cuts are attributable to the growth of refurbished medical equipment market. Transparency Market Research analyses that the refurbished medical device will exhibit a CAGR of around 13% with growth of US$ 24 Billion for the forecast period of 2019-2027.

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Coronavirus (COVID-19) has exposed the vulnerability of healthcare systems worldwide. With the ongoing shortage of PPE (Personal Protective Equipment), there is an unprecedented demand for used and refurbished medical equipment such as ventilators and other critical care equipment. Hence, companies in the refurbished medical equipment market are capitalizing on this trend.

Refurbished Medical Equipment Market: Overview

• The global refurbished medical equipment market was valued at ~US$ 8 Bn in 2018 and is projected to expand at a high CAGR from 2019 to 2027. Rise in prevalence of various chronic conditions such as cardiology, respiratory & gastroenterology, neonatal condition, orthopedic, gynecology, and other conditions; stringent regulatory scenarios for refurbished medical equipment, favorable reimbursement policies; rising mergers & acquisitions; and presence of key players, especially in developing countries, are anticipated to propel the global refurbished medical equipment market.
• Refurbished medical equipment are the restored or repaired devices, which involves repairing, reconditioning, or software or hardware installation without removing the original device. The refurbished medical equipment includes medical imaging equipment, operating room equipment, and patient monitoring devices. The equipment falling under the above categories are MRI scanner X ray machine, heart-lung machines, and other devices. Growing burden of various diseases across the globe and rising admission of patient population are expected to boost the need for the refurbished medical equipment. The original cost of the medical equipment incurs higher cost and thus, demand of the low cost medical equipment to be used at hospitals, and specialty centers is likely to propel the refurbished medical equipment market.

Scope of Refurbished Medical Equipment Market:

• Refurbished Medical Equipment Market Based on market dynamics and growth-generating factors, the market study estimates the growth rate and market value. Complete understanding is based on the most recent industry news, prospects, and trends. The research offers a complete market analysis and vendor landscape in addition to a SWOT analysis of the top vendors.

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Features of the report:

 Leading product type segment and application segment of the Refurbished Medical Equipment market.
 Recent developments, growth opportunities, challenges, governmental policies, and regulations affect the market’s growth.
 The leading region of the market.
 Provides a detailed market analysis based on the market’s current competitive scenario and forecasts for coming years.
 To track new developments, mergers, acquisitions, expansions, etc., in the market.
 Growth factors of the market are discussed in the report in detail.
 The report encompasses the key strategies of the key market players.

Refurbished Medical Equipment Market: Major Players

Siemens Healthineers AG, GE Healthcare, Canon Medical Systems Corporation, Koninklijke Philips N.V, Atlantis Worldwide, LLC, Block Imaging International, Inc., Shimadzu Corporation, and Hitachi, Ltd.

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Market Summary:

On the basis of the product type segment, the market is divided into:

Medical Imaging Equipment
• X-ray Systems
• Ultrasound Systems
• MRI Scanners
• CT Scanner
• Others

Operating Room Equipment
• Heart-lung Machines
• Defibrillators
• Anesthesia Machines
• Electrosurgical Units
• Others

Patient Monitoring Devices
• Multi-parameter Monitors
• Electrocardiography Devices (ECG)
• Pulse Oximeters
• Neonatal Monitors
• Others

On the basis of application segment of the market is divided into:
• Cardiology
• Respiratory and Gastroenterology
• Neonatal Care
• Orthopedic
• Others

On the basis of end user segment of the market is divided into:
• Hospitals
• Diagnostic Centers
• Ambulatory Surgical Centers
• Others

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