Refurbished Medical Equipment Market Size Analysis Top Regions, Key Players and Investments Opportunities Forecast 2028

 

Refurbished Medical Equipment Market

Medical gadgets that have been repaired to a workable state while maintaining their original specs are referred to as refurbished. Refurbishing is removing an outdated machine from use and thoroughly servicing all of its parts, which is followed by cleaning, painting, sanitising, and replacing any worn-out or outdated parts. Then, compared to a brand-new machine, the item is sold for a far lesser price. Due to these advantages, remanufactured medical equipment is widely used in hospitals, clinics, and other healthcare facilities.

One of the main reasons influencing the Refurbished Medical Equipment Market growth is the rising level of privatisation in the healthcare industry, which is occurring at the same time that the need for affordable medical care is expanding. In addition, factors including the rising elderly population and the prevalence of chronic diseases are fueling the market's expansion. In order to provide its patients with a wide range of economical treatment options without sacrificing quality, healthcare facilities are increasingly choosing alternate methods of acquiring low-cost medical equipment.

Additionally, the growing global population afflicted with serious diseases like cancer and cardiovascular diseases (CVDs) is accelerating Refurbished Medical Equipment Market expansion. Due to financial limitations, private hospitals in emerging countries frequently use refurbished equipment. Additionally, it is anticipated that the Internet of Things (IoT) integration of devices and the significant government and non-governmental organisation (NGO) initiatives to make high-quality healthcare services available to everyone would further propel the market.

Refurbished Medical Equipment Market Product Types-

·        Operating Room Equipment & Surgical Equipment

·        Patient Monitors

·        Defibrillators

·        Medical Imaging Equipment

·        Cardiovascular & Cardiology Equipment

·        Neurology Equipment

·        Endoscopy Equipment

·        Intensive Care Unit Equipment

·        Neonatal Intensive Care Units Equipment

·        IV Therapy Systems

The expansion of the Refurbished Medical Equipment Market can be attributed to the rising demand for expensive diagnostic equipment as well as the manufacturers' increasing attention to the technology used in medical equipment. Medical gadgets that have been refurbished are those that have been returned to their initial operational condition and are therefore free from any form of flaws. Before reusing a piece of medical equipment, it must undergo refurbishment to be tested for safety, quality, and efficacy.

Top Companies involved are- GE Healthcare (a wholly owned subsidiary of General Electric Company), Philips Healthcare (part of Koninklijke Philips N.V.), Siemens Healthineers, Soma Technology, Inc., Block Imaging International, Inc., and Agito Medical A/S.

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