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Refurbished Medical Equipment Market Size & Share, by Equipment Type (Medical & Diagnostic Imaging, Patient Monitors, Surgical, Acute & Intensive Care, Cardiovascular, Neurology); Application (Diagnostic, Therapeutic); End-User (Hospitals, Diagnostic Centers, Ambulatory Care Centers) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2025-2037

  • Report ID: 2899
  • Published Date: Dec 23, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2025-2037

Refurbished Medical Equipment Market size was over USD 20.59 billion in 2024 and is poised to exceed USD 91.95 billion by 2037, growing at over 12.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of refurbished medical equipment is evaluated at USD 22.73 billion.

Growth of the market can be attributed to factors such as rising demand for low-cost electronic and diagnostic equipment, and the ample economic benefits to small-scale hospitals in using refurbished medical appliances. Furthermore, growing emphasis of the governments in many developed nations, such as the U.S.A, France, Germany and the United Kingdom to deploy sustainable operational means, is expected to create significant growth opportunities for market players. Comprehensive efforts by governmental and non-governmental organizations to make affordable healthcare available to all is also foreseen to further the expansion of this market.

Refurbished Medical Equipment and Accessories-Market Overview
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Growth Drivers

  • Rising Number of Low Budget Healthcare Facilities
  • Growing Emphasis of Healthcare Entrepreneurs on High Returns upon Low Investment

Challenges

  • Inability to Meet Appropriate Quality Standards
  • Negative Perception about Refurbished Medical Equipment

Refurbished Medical Equipment Market: Key Insights

Report Attribute Details

Base Year

2024

Forecast Year

2025-2037

CAGR

12.2%

Base Year Market Size (2024)

USD 20.59 billion

Forecast Year Market Size (2037)

USD 91.95 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Refurbished Medical Equipment Segmentation

Based on equipment type, the segment for medical & diagnostic imaging equipment is projected to occupy the largest market share by the end of 2029 owing to the increase in demand for these devices. According to the World Health Organization (WHO), some surgical interventions can be avoided altogether if diagnostic imaging services such as ultrasound are available. Factors such as the high usefulness of diagnostic imaging equipment in various healthcare spaces, growing demand for early diagnosis of diseases, and high equipment durability are also anticipated to boost the growth of this segment. Additionally, on the basis of application, the market is segmented into diagnostic and therapeutic, out of which, the diagnostic imaging procedures segment is projected to generate the highest revenue in the year 2029 owing to the increasing number of patients and target diseases for these medical procedures, vast application of diagnostic processes and cost-effective price of imaging equipment. 

Our in-depth analysis of the global market includes the following segments

By Equipment Type
  • Medical & Diagnostic Imaging
    • X-Ray Machines
    • CT Scanners
    • Ultrasound Systems
    • MRI Machines
    • Others
  • Patient Monitors
    • Pulse Oximeters
    • Multi-Parameter Monitors
    • ECG Devices
    • Other Patient Monitors         
  • Surgical
  • Acute & Intensive Care
  • Cardiovascular
  • Neurology
  • Others

By Application
  • Diagnostic
    • Cardiology
    • Neurology
    • Oncology
    • Orthopedics
    • Physiology
    • Obstetrics/Gynecology (OB/GYN)
    • Others
  • Therapeutic
    • Cardiology
    • Neurology
    • Oncology
    • Orthopedics
    • Physiology
    • Obstetrics/Gynecology (OB/GYN)
    • Others

By End-User
  • Hospitals
  • Diagnostic Centers
  • Ambulatory Care Centers
  • Others
Vishnu Nair
Vishnu Nair
Head - Global Business Development

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Refurbished Medical Equipment Industry - Regional Synopsis

North America Market Analysis

On the basis of geographical analysis, the global refurbished medical equipment market is segmented into five major regions including North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America industry is poised to account for largest revenue share by 2037, led by extensive privatization of healthcare sector, larger number of refurbishment facilities, and high investment in healthcare sector in the region. According to the statistics by the Organization for Economic Co-operation and Development (OECD), the United States spent the most on healthcare in 2018, accounting to 16.9% of the total GDP share. Furthermore, health spending per capita in the OECD countries is estimated to reach 10.2% of GDP by 2030.

APAC Market Statistics

 Although during the forecast period, the refurbished medical equipment market in the Asia Pacific is expected to grow at the highest CAGR, owing to a larger patient pool, rising governmental concerns to provide affordable healthcare facilities to rural population, new regulatory reforms, and a high demand for refurbished medical equipment in low-budget hospitals and surgical centers.

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Companies Dominating the Refurbished Medical Equipment Landscape

    • General Electric Company
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Avante Health Solutions
    • Siemens Healthcare GmbH
    • Koninklijke Philips N.V.
    • EVERX
    • Soma Tech Intl.
    • Hilditch Group Ltd
    • Canon Medical Systems Ltd.
    • Block Imaging International Inc.
    • US Med-Equip, Inc
  • Report ID: 2899
  • Published Date: Dec 23, 2024
  • Report Format: PDF, PPT
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Frequently Asked Questions (FAQ)

In the year 2025, the industry size of refurbished medical equipment is evaluated at USD 22.73 billion.

Refurbished Medical Equipment Market size was over USD 20.59 billion in 2024 and is poised to exceed USD 91.95 billion by 2037, growing at over 12.2% CAGR during the forecast period i.e., between 2025-2037.

North America industry is poised to account for largest revenue share by 2037, led by extensive privatization of healthcare sector, larger number of refurbishment facilities, and high investment in healthcare sector in the region.

The major players in the market are General Electric Company, Avante Health Solutions, Siemens Healthcare GmbH, EVERX, Koninklijke Philips N.V., and others.

Refurbished Medical Equipment Market Size & Share, Growth Forecast 2036 Market Report Scope

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