Refurbished Imaging Medical Equipment Market Analysis by Product Type (X-ray Devices, Ultrasound Systems, CT Scanners, MRI Equipment, and Others); by Application (Oncology, Cardiovascular, Gynecology, Orthopedic, and Others); and by End-user (Hospitals, Diagnostic Centers, Ambulatory Surgical Centers, Others)-Global Supply & Demand Analysis & Opportunity Outlook 2023-2035

  • Product Code:
    RP-ID-10352524
  • Published Date:
    22 Nov 2022
  • Region:
    Global
  • Category:
    Healthcare & Pharmaceuticals
  • Publisher:
    Pub-ID-54

Impact Analysis on the Growth of Market

Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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The Research Report is Updated with 2022 Base Year, 2023 Estimated year and Forecast till 2035 with Market Insights.


With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2022 as base year, 2023 as estimated year and forecast to 2035. This will have market drivers, recovery rate in the market, insights and competitive analysis.



Market Overview:

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Global Refurbished Imaging Medical Equipment Market Scope Report

 

Base Year

2022

Forecast Year

2023-2035

CAGR

~9%

Base Year Market Size (2022)

 ~ USD 7 Billion

Forecast Year Market Size (2035)

~ USD 18 Billion 

Global Refurbished Imaging Medical Equipment Market Highlights Over 2023 - 2035

The global refurbished imaging medical equipment market is estimated to garner a revenue of ~ USD 18 billion by the end of 2035 by growing at a CAGR of ~9% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~ USD 7 billion in the year 2022. The prevalence of chronic or non-communicable diseases as a result of risk behaviors such as smoking, alcohol consumption, indulging in a diet high in saturated fat and sodium, and insufficient intake of fruits and vegetables is the main reason for the development of the global refurbished medical imaging equipment market. It is estimated that non-communicable or chronic diseases generally affect over 130 million Americans, which is over 39% of the total population of the region.

 

Refurbished-Imaging-Medical-Equipment-Market-Overview

 

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Physical inactivity among people is also thought to harm their health, leading to chronic diseases and thus to the expansion of the global refurbished medical imaging equipment market.

Global Refurbished Imaging Medical Equipment Market: Growth Drivers and Challenges

Growth Drivers

  • Surge in the Number of Hospitals - As of 2022, there were over 6090 hospitals in the United States (U.S.). One of the most inevitable factors of a robust healthcare system is the availability of medical equipment, and hence the growing number of hospitals is considered to have a very positive effect on the expansion of the global refurbished medical imaging equipment market. Medical equipment is essential for the diagnosis, treatment, and rehabilitation of patients. However, the high spending on new medical devices will make more healthcare end users choose refurbished equipment over buying a new one.

  • Cost Effectiveness to Boost Market Growth – It has been observed that reprocessing devices results in a cost saving of between 29 and 41% than when investing in new devices.

  • Huge Availability of Computer Hardware - The global sales volume of computer hardware in 2020 was about 4 billion pieces .

  • Growth in Healthcare Spending - The national health spending in the U.S. is thought to reach ~6 trillion by 2028.

Challenges

  • Original Equipment Manufacturers Refusing to Service Earlier Devices

  • Concern About Vendor's Credibility

  • Concerns About the Working Condition of Refurbished Devices

The global refurbished imaging medical equipment market is segmented and analyzed for demand and supply by application into oncology, cardiovascular, gynecology, orthopedic, and 0thers. The oncology segment would see the most significant market development as the world is getting more aware of the need for early screening and detection of cancer, thereby expanding the global patient base. It is estimated that globally about 19 million new cancer cases were recorded in 2020.

Global Refurbished Imaging Medical Equipment Market Regional Synopsis

Regionally, the global refurbished imaging medical equipment market is studied into five major regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the North American region is projected to hold the largest market share by the end of 2035. This could be attributed to the significant presence of original equipment manufacturers (OEM) and refurbishment businesses. It can be observed that the number of businesses involved in remodeling in the U.S. has increased ~ 5% from 2017 to 2022 to over 524,380 businesses at present.

Global-Refurbished-Imaging-Medical-Equipment-Market-Share

Market Segmentation

Our in-depth analysis of the global refurbished imaging medical equipment market includes the following segments:

By Product Type

  • X-ray Devices

  • Ultrasound Systems

  • CT Scanners

  • MRI Equipment

  • Others

By Application

  • Oncology

  • Cardiovascular

  • Gynecology

  • Orthopedic

  • Others

By End-user

  • Hospitals

  • Diagnostic Centers

  • Ambulatory Surgical Centers

  • Others

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Key Companies Dominating the Global Refurbished Imaging Medical Equipment Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global refurbished imaging medical equipment market that are included in our report are Canon Medical Systems Ltd , Carestream Health, Inc., General Electric Company, Hologic, Inc., Koninklijke Philips N.V.,  Shimadzu Corporation, Siemens Healthcare Private Limited, FUJIFILM Corporation , US Med-Equip, EverX USA LLC, and others.

Global Refurbished Imaging Medical Equipment Market: Latest Developments

  • July, 2022: US Med-Equip - announced partnering with Detroit to help it meet the growing need for services and equipment in hospitals across the Midwest.

  • April, 2022: Siemens Healthcare Private Limited  - announced expanding its manufacturing activities in India with a new line of production for Computed Tomography scanners.

Key Reasons to Buy Our Report

  • The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

  • It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

  • The report includes detailed company profiles of the major players dominating the market.

  • We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

 
 


Geography Analysis:


The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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  1. Canon Medical Systems Ltd  
  2. Carestream Health Inc. 
  3. General Electric Company 
  4. Hologic Inc. 
  5. Koninklijke Philips N.V. 
  6. Shimadzu Corporation 
  7. Siemens Healthcare Private Limited 
  8. FUJIFILM Corporation  
  9. US Med-Equip 
  10. EverX USA LLC
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