Refurbished Medical Equipment Market Worth $9.37 Billion by 2019 - New Report by MarketsandMarkets

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A number of players in the refurbished medical equipment market are striving to expand their presence in both mature and emerging markets:



Key Players are Block Imaging International, Inc. (U.S.), DRE, Inc. (U.S.), Everx Pvt Ltd. (Australia), GE Healthcare (U.K.), Integrity Medical Systems, Inc. (U.S.), Radiology Oncology Systems , Soma Technology, Inc. (U.S.)

The refurbishing of medical devices refers to restoring used equipment or systems into a condition of safety and effectiveness comparable to new ones through repairs, rework, updates and replacement of worn parts.

This report studies the global refurbished medical equipment market over the forecast period of 2014 to 2019. The market is expected to reach $9.37 billion by 2019 at a CAGR of 12.5% from 2014 to 2019.

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On the basis of products the global refurbished medical equipment market is classified into eleven major segments namely operating room and surgical equipment, patient monitors, defibrillators, medical imaging equipment, cardiovascular equipment, IV therapy systems neurology equipment, endoscopy equipment, intensive care units, neonatal intensive care units and other medical equipment. The other medical equipment segment includes blanket warmers, autoclaves, suction pumps, sequential compressor devices (SCDs), stretchers, cath labs, stress test systems, heaters/coolers, dry imagers and beds.

The operating room and surgical equipment segment is categorized into anaesthesia machines and ventilators, CO2 and agent monitors, microscopes, electro surgical units and others. The others segment includes harmonic scalpels, surgical lights and tables, and tourniquets. The patient monitors segment is categorized into pulse oximeters, ECG devices, multi parameter monitors and non-invasive blood pressure monitors. The defibrillators market is categorized into AED defibrillators and other defibrillator such as manual defibrillators, biphasic defibrillators and monophasic defibrillators. The medical imaging equipment segment includes X-ray machines, ultrasounds systems, MRI machines, CT scanners, nuclear medicine systems and others such as C-arm devices and mammography systems. The cardiovascular equipment segment is categorized into heart-lung machines, coagulation analysers and others such as EKG machines, cath labs, auto transfusion systems and intra-aortic balloon pumps. The neurology equipment segment is bifurcated into EEG machines and EMG machines. The intensive care units segment is classified into hard-wire systems and telemetry systems whereas, the neonatal intensive care unit segment is further divided into infant incubators and warmers and monitors.

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Factors such as growing demand for low-cost medical devices due to financial constraints, increasing privatization in the healthcare sector and rising adoption of refurbished medical devices in emerging countries are driving the growth of the global refurbished medical equipment market. However the negative outlook of public institutes regarding the purchase of refurbished medical equipment and lack of standardization and harmonization of policies related to the sale and use of refurbished medical devices are restricting the growth of the global refurbished medical equipment market.

As of 2014 North America holds the largest share of the global refurbished medical equipment market, followed by Europe. However the Asia-Pacific region is expected to grow at the highest CAGR of ~13.7% from 2014 to 2019. This is primarily due to privatization of the healthcare sector, poor reimbursement scenario, huge patient population base and presence of a large number of low budget hospitals/clinics.

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Agito Medical A/S (Denmark), Block Imaging International, Inc. (U.S.), DRE, Inc. (U.S.), Everx Pvt Ltd. (Australia), GE Healthcare (U.K.), Integrity Medical Systems, Inc. (U.S.), Philips Healthcare (Netherlands), Radiology Oncology Systems, Inc. (U.S.), Siemens Healthcare (Germany), and Soma Technology, Inc. (U.S.) are the main players in the global refurbished medical equipment market.

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