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.
