The healthcare industry is ready to adopt technologies and techniques to reduce its carbon footprint. Among the other factors, such as using renewable energies and less power consumption, reusing medical equipment is one of the emerging factors that can help the healthcare sector to take a step toward an environmentally friendly industry.

The refurbished medical equipment market is one of the booming industries which is projected to witness sturdy growth in the upcoming years. According to a study by Arizton Advisory & Intelligence, the global refurbished medical equipment market is projected to grow at a CAGR of 11.76% during 2021-2027.

Refurbishment is the systematic process of making used equipment equal to or better than new. Refurbishment is rebuilding or updating with all new materials, components, or parts to restore their original (or better) working condition and appearance. The global refurbished medical equipment market grew significantly during the pre-pandemic times. However, outbreaks of diseases like bird flu, COVID-19, and Monkeypox create a massive demand for used medical equipment.

The environmental benefits of refurbished medical equipment are also worth touting. By extending the useful life of medical equipment from 5–7 to 10–14 years or even more, refurbishment is a form of reuse and waste prevention, contributing to an environmental economy. 

Besides important environmental benefits, refurbishing provides sustainable economic benefits by creating business and employment in the refurbished medical equipment market.  Even existing equipment owners may consider refurbishing their machines rather than disposing of old ones and buying new ones if their users are comfortable using the specific model. A refurbished asset can be re-capitalized on a depreciation schedule at half the value of new equipment. Refurbishment typically costs about half as much as buying a new one and can bring a machine back to like-new. In addition to the initial cost savings, refurbishment increases resale value and can provide tax benefits to a business, depending on how it’s structured.

Read More: https://www.arizton.com/market-reports/refurbished-medical-equipment-market

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