Pre-owned Medical Devices Market is Estimated to Witness High...

Pre-owned Medical Devices Market is Estimated to Witness High Growth Owing to Increased Availability of Refurbished Medical Equipment

Posted 2024-10-07 06:59:37

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The pre-owned medical devices market has seen significant growth over the past few years owing to the high demand and availability of refurbished medical equipment. Pre-owned medical devices offer an affordable alternative to expensive new devices for hospitals and diagnostic centers. Refurbished medical devices such as CT scanners, MRI machines, ultrasound systems, X-ray devices, and other equipment are refurbished and upgraded to be functionally equivalent to new devices. This helps reduce the costs of treatment and diagnostics.

Global pre-owned medical devices market is estimated to be valued at USD 7.52 Bn in 2024 and is expected to reach USD 15.71 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 11.1% from 2024 to 2031.

Key Takeaways
Key players operating in the pre-owned medical devices market are GE Healthcare, Siemens Healthineers, Canon Medical Systems, Koninklijke Philips N.V., Agfa-Gevaert Group, Block Imaging, Radiology Oncology Systems, EverX Pty Ltd, Integrity Medical Systems, Inc., Soma Technology, Master Medical Equipment, Hilditch Group, Fair Medical Co. Ltd., US Med-Equip, Centurion Service Group, TRACO, DIAMEDICA.

Key opportunities in the Pre-owned Medical Devices Market Demand include growing for affordable healthcare in emerging economies and increasing adoption of refurbished equipment in ambulatory surgical centers and clinics. There is a large market potential for refurbished medical devices in Asia Pacific and Latin American countries.

Technological advancements such as upgrades of older equipment with new features and extended warranty programs are helping improve the performance and reliability of pre-owned medical devices. Companies are focusing on digitization and automated grading systems to evaluate used medical devices objectively and accurately. This is increasing confidence among hospitals to adopt refurbished medical equipment.

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