Refurbished medical equipment are pre-owned medical devices that are cleaned, disinfected, inspected, and certified to like-new condition. They provide affordable solutions to healthcare providers while ensuring minimum compliance with quality and safety standards. Refurbished devices offer up to 50-70% cost savings compared to new ones. They play a vital role in making diagnostics and treatment accessible to masses in emerging and cost-conscious markets.
The global Refurbished Medical Equipment Market is estimated to be valued at US$ 14.21 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The refurbished medical equipment market is expected to witness significant growth over the forecast period, driven by the increasing demand for affordable healthcare solutions. Refurbished devices help hospitals and clinics to free up capital expenditure which can be further used to expand infrastructure and purchase new technologies. They provide quality medical solutions at relatively lower prices, especially in developing countries with large population but limited healthcare budgets. This increasing demand for cost-effective alternatives is expected to remain a key trend fueling the growth of the global refurbished medical equipment market between 2024 and 2031.
Segment Analysis
The global refurbished medical equipment market is segmented into dental equipment, medical imaging equipment, operating room and surgical equipment, patient monitoring equipment, physical therapy equipment and equipment and defibrillators. The dental equipment segment is currently dominating the market due to growing preference for affordable dental procedures and need for routine maintenance of existing dental equipment.
Key Takeaways
The Global Refurbished Medical Equipment Market Size is expected to witness high growth in the forecast period owing to increasing healthcare costs and need for efficient equipment management. The global Refurbished Medical Equipment Market is estimated to be valued at US$ 14.21 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024-2031.
Regional analysis
North America is currently the largest and fastest growing regional market for refurbished medical equipment due to strong presence of key players, growing emphasis on efficient healthcare infrastructure and flexible regulatory policies. In Europe, Germany and UK hold majority share due to widespread adoption across hospitals and diagnostic centers. Asia Pacific is expected to offer lucrative growth opportunities during the forecast period with China and India emerging as high potential countries with improving healthcare accessibility and investments.
Key players
Key players operating in the refurbished medical equipment market are Crayola LLC, Faber-Castell AG, Sargent Art, Reeves (Colart Group), Liquitex (Colart Group), Sax Arts & Crafts, Prang (Dixon Ticonderoga Company), RASCHER GmbH. They continue to strengthen global presence through mergers, partnerships and improve service offerings to healthcare facilities.
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https://captionssky.com/central-venous-catheter-market-in-the-u-s-an-overview/
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