Online Education is Fastest Growing Segment Fueling the Growth of Refurbished Medical Equipment Market
Market Overview:
Refurbished medical equipment provides cost-effective diagnostics procedures for patients. Refurbishing of medical equipment makes healthcare affordable by reducing the costs associated with medical procedures and treatments.
Market key trends:
Use of blockchain technology is one of the key trends gaining traction in the refurbished medical equipment market. Blockchain allows tracking equipment history and provenance throughout its lifecycle. It provides traceability and transparency to refurbishing process of medical devices. Blockchain network validates and records each change in equipment's lifecycle from manufacturing to refurbishing to resale. This improves quality control and maintains reliability of refurbished medical devices.
Segment Analysis
The global Refurbished Medical Equipment Market Demand is broadly segmented into diagnostic equipment and therapeutic equipment. Therapeutic equipment dominates the market and accounts for around 60% share owing to its wide application in various treatment procedures such as physiotherapy, surgery, and others. The diagnostic equipment segment comprises nuclear imaging equipment, X-ray imaging equipment, CT scanners, ultrasound equipment and others.
Key Takeaways
The global refurbished medical equipment market is expected to witness high growth, exhibiting a CAGR of 11% over the forecast period, due to increasing medical costs as refurbished equipment proves to be more affordable.
Regional analysis:
North America dominates the global market due to increasing adoption of refurbished medical devices due to development of stringent regulations. Europe also captures a significant market share owing to rising healthcare expenditure. Asia Pacific exhibits the fastest growth over the forecast period due to improving healthcare infrastructure and rising medical tourism in the region.
Key players:
Key players operating in the refurbished medical equipment market are Everx Pvt Ltd., Soma Technology., Siemens AG, Block Imaging, Koninklijke Philips N.V., Radiology Oncology Systems, Inc., General Electric Company, Integrity Medical Systems, DRE Medical, Inc., Agito Medical A/S.
The global refurbished medical equipment market size for 2023 is US$ 12.33 Bn. The market is forecast to grow at a CAGR of 11% during the forecast period of 2023 to 2030.
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https://perfectinsights.blogspot.com/2023/11/refurbished-medical-equipment-market-is.html
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