Refurbished Medical Equipment Market Worth $9.37 Billion by 2019
Emerging markets such as India, Brazil, and Mexico are lucrative regions for companies engaged in the refurbishment of used medical equipment.
Wed Feb 11 2015
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Refurbished Medical Equipment Market Worth $9.37 Billion by 2019
The report “Refurbished Medical Equipment Market (Ultrasound, MRI, CT Scanner, C-Arm, Nuclear Imaging Systems, Heart-Lung Machines, Surgical, CO2 Monitor, Patient Monitor, Pulse Oximeter, AED Defibrillator, Cath Labs, Stretchers, Endoscopy) - Global Forecasts to 2019”, analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).
The operating room and surgical equipment segment is categorized into anesthesia machines and ventilators, CO2 and agent monitors, microscopes, electrosurgical units, and others. The others segment includes harmonic scalpels, surgical lights and tables, and tourniquets. The patient monitors segment is categorized into pulse oximeters, ECG devices, multiparameter monitors, and noninvasive blood pressure monitors. The defibrillators market is categorized into AED defibrillators and other defibrillator (such as manual defibrillators, biphasic defibrillators, and monophasic defibrillators). The medical imaging equipment segment includes X-ray machines, ultrasounds systems, MRI machines, CT scanners, nuclear medicine systems, and others (such as C-arm devices and mammography systems). The cardiovascular and cardiology equipment segment is categorized into heart-lung machines, coagulation analyzers, and others (such as EKG machines, cath labs, autotransfusion systems, and intra-aortic balloon pumps). The neurology equipment segment is bifurcated into EEG machines and EMG machines. The intensive care units segment is classified into hardwire systems and telemetry systems; whereas, the neonatal intensive care unit segment is further divided into infant incubators and warmers, and monitors.
Factors such as growing demand for low-cost medical devices due to financial constraints, increasing privatization in the healthcare sector, and rising adoption of refurbished medical devices in emerging countries are driving the growth of the global refurbished medical equipment market. However, the negative outlook of public institutes regarding the purchase of refurbished medical equipment, and lack of standardization and harmonization of policies related to the sale and use of refurbished medical devices are restricting the growth of the global refurbished medical equipment market.
As of 2014, North America holds the largest share of the global refurbished medical equipment market, followed by Europe. However, the Asia-Pacific region is expected to grow at the highest CAGR of ~13.7% from 2014 to 2019. This is primarily due to privatization of the healthcare sector, poor reimbursement scenario, huge patient population base, and presence of a large number of low budget hospitals/clinics.
Agito Medical A/S (Denmark), Block Imaging International, Inc. (U.S.), DRE, Inc. (U.S.), Everx Pvt Ltd. (Australia), GE Healthcare (U.K.), Integrity Medical Systems, Inc. (U.S.), Philips Healthcare (Netherlands), Radiology Oncology Systems, Inc. (U.S.), Siemens Healthcare (Germany), and Soma Technology, Inc. (U.S.) are the main players in the global refurbished medical equipment market.
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