Refurbished Medical Equipment Market Size, Share, Analysis, Trends, Growth, 2032

Refurbished Medical Equipment Market Insights

According to a report from Zion Market Research, the global Refurbished Medical Equipment Market was valued at USD 15.01 Billion in 2023 and is projected to hit USD 28.66 Billion by 2032, with a compound annual growth rate (CAGR) of 7.45% during the forecast period 2024-2032. This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Refurbished Medical Equipment Market industry over the next decade.

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Refurbished Medical Equipment Market: Overview      

Purchasing refurbished medical equipment has become a lucrative option for most of the hospitals as well as diagnostic centers. In recent times, most of the therapeutic, diagnostic, and patient monitoring medical equipment such as AEDs, ECGs, defibrillators, vital sign monitors, spirometers, ventilators, pulse oximeters, IV pumps, and respiratory devices are being acquired as refurbished equipment at a reduced cost.

In addition, the key players in the market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the refurbished medical equipment market study.

In a key event that can contribute significantly towards refurbished medical equipment market value, in September 2018, TriMedx LLC—a clinical engineering & medical equipment lifecycle management services providing firm—announced the acquisition of Aramark’s Healthcare Technologies unit for US$ 300 million. Reportedly, the purchase is anticipated to enlarge TRIMEDX’s customer base that is projected to improve its clinical and financial results, as well as equipment security and compliance.

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Refurbished Medical Equipment Market: Growth Factors

Meteorically rising geriatric population along with growing cases of chronic ailments is anticipated to influence the growth graph of refurbished medical equipment market in the years ahead. Apart from this, large patient population base in emerging countries along with growing awareness about the cost-efficiency of the product among the patients in these regions is anticipated to drive the expansion of refurbished medical equipment market over the forthcoming years.

The Refurbished Medical Equipment Market is growing rapidly, driven by several significant factors. The increasing demand for cost-effective healthcare solutions, particularly in emerging economies, is a primary driver as refurbished equipment offers advanced functionality at a lower cost compared to new devices. Hospitals and diagnostic centers are adopting refurbished equipment to reduce capital expenditures while maintaining high-quality care.

Rising awareness about sustainable practices is also boosting the market, as refurbishing helps reduce medical waste and extends the lifecycle of medical devices. Additionally, advancements in refurbishment technologies ensure equipment reliability and compliance with regulatory standards, further enhancing market confidence. The growing need for imaging, diagnostic, and therapeutic devices due to the rise in chronic diseases and expanding healthcare infrastructure globally also contributes to market growth.

Refurbished Medical Equipment Market: Report Scope

Refurbished Medical Equipment Market: Segmentation

Segment Analysis Preview  

The main products available in this refurbished medical equipment market are operating room equipment & surgical equipment, patient monitors, medical imaging equipment, defibrillators, cardiovascular & cardiology equipment, neurology equipment, endoscopy equipment, intensive care systems, Neonatal Intensive Care Systems, IV therapy systems, and other equipments. Among them, the demand for patient monitors is relatively higher and the trend is anticipated to remain so over the next few years.

Regional Analysis Preview  

Regionally, North America has been leading the worldwide refurbished medical equipment market and is anticipated to continue on the dominant position in the years to come, states the refurbished medical equipment market study. The presence of a well-developed medical and healthcare infrastructure along with favorable compensation policies is the main factor behind the dominance of the North America refurbished medical equipment market. The high number of market players being headquartered in North America is another significant factor that is supporting this regional market. In addition, supportive government laws for use and sale of refurbished medical equipment is anticipated to chart a profitable growth map for refurbished medical equipment market in the region.

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Refurbished Medical Equipment Market: Competitive Landscape

Some of the major players of the global Refurbished Medical Equipment market include

• Philips Healthcare
• GE Healthcare
• Siemens Healthineers
• Agito Medical A/ S
• DRE Medical Inc.
• Block Imaging International Inc.
• Radiology Oncology Systems Inc.
• Soma Technology Inc.
• Everx Pvt Ltd. 
• Integrity Medical Systems Inc. 
• among others.

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The global Refurbished Medical Equipment market is segmented as follows:

By Products

• Operating Room Equipment & Surgical Equipment
• Patient Monitors
• Medical Imaging Equipment
• Defibrillators
• Cardiovascular & Cardiology Equipment
• Neurology Equipment
• Endoscopy Equipment
• Intensive Care Systems
• NEONATAL INTENSIVE CARE SYSTEMS
• IV Therapy Systems
• bio-PE
• Other Equipments

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa