Global Refurbished Medical Devices Market – Size, Outlook, Trends and Forecast (2024

Global Refurbished Medical Devices Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

The refurbishment is considered to be a growing phenomenon concerning the healthcare industry. Currently refurbished devices range from machines such as neonatal monitors to devices used in surgery like forceps and others.

Global Refurbished Medical Devices Market Segments Size & Growth:

Global refurbished Medical Devices Market size is projected to reach approximately $12.95 billion by the end of 2024 with a CAGR of close to 12.87% during the forecast timeline 2018-2024. As refurbished medical devices market is providing high growth potential for companies in developing stage, which is indeed considered as responsible for a rapid increase in the demand for refurbished medical devices in the world market. And also increase the demand for refurbished medical devices in private healthcare sector is also a prime reason for the growth of the market. Apart from this, a large inventory of old and used medical devices, eco-friendly refurbishment process is considered as key attributes for the growth of this market. However, lack of awareness regarding benefits of refurbished medical devices, consistent regulations on import and usage of refurbished medical equipment in various counties and others are considered as major challenges for the growth of the market.

Global Refurbished Medical Devices Market Segments Share:

Depending upon the product, this market can be segmented as medical imaging equipment, operating room & surgical equipment, patient monitors, cardiovascular & cardiology equipment, defibrillators, neurology equipment, neonatal intensive care equipment, intensive care systems, endoscopy equipment’s, intravenous (IV) therapy systems and others. Among various products available, medical imaging equipment is considered to have

Global Refurbished Medical Devices Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

the highest market share in the world market of refurbished medical devices market. Since most healthcare facilities present in developing nations are lack of new equipment’s owing to high cost of maintenance and installation. As a result, demand for this market is rapidly increasing in various regions across the world. It is expected that in the near future, cardiovascular & cardiology equipment market segment is anticipated to grow with an accelerating CAGR for the next coming five years owing to the increase in the number of heart-related diseases and other, which is the prime factor contributing to an increase in the adoption of this equipment across the world. There are various end-users associated with the market for refurbished medical devices. Few of these include hospitals and clinics, research labs and others. Every end-user has got its significance and usage concerning the market. North America followed by Europe is Devices Market Trends: Gemini

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Global Refurbished Medical Devices Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

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