Refurbished Medical Devices Market Striking CAGR 7.7% Accretes a Phenomenal Growth By 2023

Posted November 15, 2019 by diksha3847

“Refurbished Medical Devices Market Research Report- Global Forecast to 2023” Report Exclusive Available at with Unique Research information.  Human Insulin Market Factor Analysis 2018 to 2025.

“Refurbished Medical Devices Market Research Report- Global Forecast to 2023” Report Exclusive Available at with Unique Research information. Human Insulin Market Factor Analysis 2018 to 2025.

Market Scenario:

The global refurbished medical devices market is anticipated to witness luxurious growth of 10.8% during the forecast period (2017-2023), as stated by Market Research Future (MRFR) report. The growing prevalence of cancer and cardiovascular diseases are responsible for the stupendous performance of the refurbished medical equipment market significantly. Moreover, increasing privatization in the healthcare sector, elevated demand for low-cost medical devices due to financial constraints and growing adoption of refurbished medical devices in several nations have shaped the refurbished medical equipment market size positively. In addition, the massive geriatric population base, the growing popularity of medical tourism and increasing number of diagnostic imaging procedures outline the positive outlook of the market.

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However, the market sometimes runs into bottlenecks on account of the lack of awareness regarding refurbished medical devices. But the restraining factor does not affect the market on a large level due to several opportunities stemming from growing number of diagnostic centers & hospitals, which leads to massive demand for refurbished medical devices. Moreover, recent market trends observed by MRFR include adoption of cost-cutting measures and focus towards value-driven healthcare, which changes the dynamic of the market significantly.

These include huge patient population base having chronic diseases mainly cardiovascular diseases and cancer, rising need for low-cost medical devices owing to budget constraints especially in developing nations, rising number of private hospitals that invests in refurbished devices, unfavorable reimbursement scenarios, growing initiatives undertaken by the top medical device manufacturers, cost constraints, increase in geriatric population, immense growth of private healthcare institutions and increasing privatization. However, on the contrary, factors such as the reluctance to buy refurbished medical devices owing to lack of awareness regarding the advantages of using such devices, lack of standardization of policies associated to the use and sale of refurbished medical devices, strong regulatory practices, lack of support from the government bodies, huge taxes to import medical devices and inefficient reimbursement policies may hinder the growth of the refurbished medical devices market

Market Segmentation:

As per MRFR report, the global refurbished medical devices market is segmented on the basis of diagnostic devices and therapeutic devices.

Based on diagnostic devices, it is segmented into patient monitors, ECG systems, MRI machines, Ultrasound Systems, CT scanners, X-ray machines and others. The patient monitors are further segmented into portable patient monitoring devices and others. Of these, the patient monitor devices market will grab the maximum share in the refurbished medical devices market during the assessment period owing to advancements in technology in patient monitoring, low product cost and rising awareness of chronic devices.

Based on therapeutic devices, the refurbished medical devices market is segmented into infusion pumps, defibrillators, infant incubators & warmers, coagulation analyzers, heart-lung machines and others.

Key Players:

Leading players profiled in the refurbished medical devices market include Block Imaging International (U.S.), Toshiba Medical System (Japan), Soma Technology (U.S.), First Source, Inc (U.S.), Johnson & Johnson (U.S.), DMS Topline (U.S.), Agito Medical (Denmark), Siemens Healthcare (Germany), Phillips Healthcare (Netherlands), Stryker Corporation (U.S.), and GE Healthcare (U.S.).

Industry News:

Aug 2018- Leading company in health technology, Royal Philips acquired Xhale Assurance, a scale-up company based in the US that develops and commercializes next-generation sensor technologies. This technology will help in broadening and differentiating Philip’s current range of oxygen saturation monitoring solutions thereby enabling the company to grow into an underserved clinical segment.

Feb 2018- Saudi Arabia launched healthcare privatization program to reduce waiting times in case of appointments with consultants and specialists and augment access to various medical services.

The Stand Advocacy Group and the Parsons Lions Club are co-sponsoring a refurbished medical equipment donation drive during the celebration of the Americans with Disabilities Act anniversary in Parsons in July 2018. The donated items were sanitized, refurbished to high-quality standards and then given to Kansans with disabilities and health conditions who need them. The drive primarily targeted patients who are not able to afford medical insurance, are underinsured or have limited resources.

Global Refurbished Medical Devices Market Information by Type (Orthopedic Implant, Dental implant, Cardiac Implant, Cosmetic Implants, and Others By Type of Material (Metal and Metal Alloys, CERAMIC, Polymer, and Other, By End User Hospitals, Ambulatory Care Centers, Research Centers, and others - Forecast to 2023 Browse Complete 80 Pages Premium Research Report Enabled with Respective Tables and Figures at

Regional Analysis

Based on region, the refurbished medical devices market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Middle East and Africa. Of these, North America will spearhead the refurbished medical devices market during assessment period owing to growing awareness of refurbished devices coupled with the well-developed healthcare sector in this region. North America is followed by Europe and Asia Pacific, both of which share a similar form of market. Yet the market in the APAC region possess the highest growth rate. On the other hand, the refurbished medical devices market in the Middle East and Africa is likely to have minimal market share during the assessment period.

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Categories Health
Last Updated November 15, 2019