Global Refurbished Medical Devices Market at $8.45 billion by 2017

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ReportsnReports.com adds new market research report “Refurbished Medical Equipments Market - By Device Types & Applications (2012-2017) - Global Trends & Competitive Analysis” to its store.

The global refurbished medical devices market is poised to reach $8.45 billion by 2017, at a CAGR of 7.8%. Biotechnology instruments and imaging-monitoring-diagnostic devices contribute to the maximum share (78%) to the global refurbished devices market, followed by minimally invasive surgical devices (16%) and radiation oncology systems (2%) in 2011.

The major driving factor for the refurbished medical equipments market involves the affordable price range of refurbished devices that aid small and medium healthcare institutions to provide advanced treatment at lower rates. Developing countries in Latin America, Asia, and Middle East etc. are driving this market as they are becoming wealthier to welcome new medical equipments for serving advanced treatments, but not that much to afford purchasing brand new highly expensive medical equipments.

The imaging-monitoring-diagnostic devices segment in refurbished market represents the highest growing segment. Refurbished imaging-monitoring-diagnostic devices market contributes to 17% of the global market.

North America, specifically the U.S., is contributing the maximum share to the refurbished medical device market. The U.S. market is primarily driven by huge amount of private practitioners. Developing countries such as Latin America, specifically Chile, Ecuador, Caribbean, Bolivia, Mexico, and Peru, are contributing largely to this growing market. The next market opportunities lie in the Asian market. India is the biggest market in the Asian regime due to its high population base and low affordability to purchase highly expensive brand new medical devices. The Asian market is deemed to be the most lucrative market place for these refurbished products in the near future.

Refurbishment restores used equipment or systems through repairing, reworking, updating and replacing of worn parts with original parts to ensure a condition of safety and effectiveness comparable to when new. All process should be consistent with product specifications and service procedures defined by the original manufacturer for that equipment or system. These processes do not alter equipment’s or system’s performance, safety specifications and/or changes intended to use as in its original registration. This device market encompasses for imaging-monitoring-diagnostic devices, radiation oncology systems, minimally invasive surgical devices, biotechnology instruments and others.

This market is operated by mainly two kinds of players; original equipment manufacturers (OEMs) and third party manufacturers. Major OEMs include GE Healthcare (U.K.), Siemens Healthcare (Germany), Philips Healthcare (Netherlands), Stryker Corporation (U.S.), Johnson & Johnson (U.S.) and Toshiba medical system (Japan). A few noteworthy third party vendors include Soma Technology (U.S.), Agito Medical (Denmark), DMS Topline Medical (U.S.), and First Source, Inc. (U.S.).

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Refurbished Medical Equipments Company Profiles

1.    Agito Medical A/S
2.    Biodirect, Inc.
3.    Dms Health Technologies
4.    Everx Pty, Ltd.
5.    First Source, Inc.
6.    Ge Healthcare
7.    Johnson & Johnson
8.    Oxford Instruments, Plc
9.    Radiology Oncology Systems, Inc.
10.    Reliant Medical Services, Inc.
11.    Royal Philips Healthcare
12.    Siemens Healthcare
13.    Stryker Corporation
14.    Soma Technology, Inc.
15.    Toshiba Medical Systems Corporation
16.    Ultra Solutions
17.    Unisyn Medical Technologies, Inc.
18.    Ziehm Imaging Gmbh

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