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Refurbished Medical Devices Market Outlook 2019 | Shows Industry Overview, Size, Share, Remarkable Growth Factors, Types, and Applications Forecast to 2024

Refurbished

The “Refurbished Medical Devices Market” research report 2019 delivers comprehensive information about the market ranging from the establishment to the predictable growth trend. Refurbished Medical Devices market report provides brief analytical data of the market contenders globally using advanced methodological approaches, such as SWOT analysis, production chain, cost, sales margin, financial details, recent developments. Refurbished Medical Devices market report also offers market competitors that includes detailed company profiles along with company product specifications.

Market Overview:

  • The global refurbished medical devices market is expected to witness a CAGR of 10.3% during the forecast period. Certain factors driving the market growth include cost containment pressure on healthcare organizations, a large inventory of old or used medical devices, the rising trend of medical tourism, and increasing rate of private healthcare institutions.
  • Along with the demand for new equipment, there is an increasing demand for refurbished medical equipment around the world. In fact, an increasing number of hospitals, which are new, are opting for alternate options to cut down on the capital investments. With the emerging technologies, there has been an increasing trend of ‘affordable buying,’ which is the basic reason for the emergence of the refurbished devices market. For example, today, a customer who is looking for any CT scanner under 4-slice, opts for a refurbished unit, rather than a brand new system. The refurbished equipment allows buying of necessary devices at affordable prices, without compromising on quality; therefore healthcare facilities, including small and medium ones, purchase refurbished medical devices. Hence, the refurbished medical devices market is increasing at a high growth rate.
  • However, the general perception of the refurbished devices impedes the growth of this market. A reused or refurbished device is often doubted for its durability and quality. There is always a perceived risk of accuracy and quality of outputs, associated with the refurbished devices. If not all, some medical devices do lose their capability to produce quality outputs, after being used for a certain period. Hospitals often refrain from buying these types of equipment, in the fear of risking a patient’s life and their reputation in the healthcare industry. Moreover, the governments have strict punishments for the hospitals, if the use of refurbished devices harms a patient at any level. Additionally, the lack of awareness about the benefits of refurbished equipment is also restraining the growth of the global refurbished medical devices market.
  • The global refurbished medical devices market is expected to witness a CAGR of 10.3% during the forecast period. Certain factors driving the market growth include cost containment pressure on healthcare organizations, a large inventory of old or used medical devices, the rising trend of medical tourism, and increasing rate of private healthcare institutions.
  • Along with the demand for new equipment, there is an increasing demand for refurbished medical equipment around the world. In fact, an increasing number of hospitals, which are new, are opting for alternate options to cut down on the capital investments. With the emerging technologies, there has been an increasing trend of ‘affordable buying,’ which is the basic reason for the emergence of the refurbished devices market. For example, today, a customer who is looking for any CT scanner under 4-slice, opts for a refurbished unit, rather than a brand new system. The refurbished equipment allows buying of necessary devices at affordable prices, without compromising on quality; therefore healthcare facilities, including small and medium ones, purchase refurbished medical devices. Hence, the refurbished medical devices market is increasing at a high growth rate.
  • However, the general perception of the refurbished devices impedes the growth of this market. A reused or refurbished device is often doubted for its durability and quality. There is always a perceived risk of accuracy and quality of outputs, associated with the refurbished devices. If not all, some medical devices do lose their capability to produce quality outputs, after being used for a certain period. Hospitals often refrain from buying these types of equipment, in the fear of risking a patient’s life and their reputation in the healthcare industry. Moreover, the governments have strict punishments for the hospitals, if the use of refurbished devices harms a patient at any level. Additionally, the lack of awareness about the benefits of refurbished equipment is also restraining the growth of the global refurbished medical devices market.

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    In Refurbished Medical Devices Market Report, Following Companies Are Covered:

  • Agito medical A/S
  • Avante Health Solutions
  • Block Imaging International, Inc.
  • Everx Pvt Ltd.
  • GE Healthcare
  • Integrity Medical systems Inc.
  • Koninklijke Philips N.V.
  • Radio Oncology Systems Inc.
  • Siemens Healthcare Systems
  • Soma Technology

    Refurbished Medical Devices Market 2019 report will help the industry aspirants in arranging their strategies. The measurements offered in this report will be an exact and helpful manual to shape the business development. Additionally, will Provide historical data along with a future forecast and detailed analysis and also expected opportunities.

    Scope of the Report:

  • Refurbishment is a methodical process that brings used equipment to almost the same condition as new equipment (or sometimes even better condition for that matter). Such action provides for significant benefits both from an environmental and a social perspective. Refurbishment of medical equipment means extending the overall lifetime of the equipment itself, generally from 5/7 to 10/14 years or even more. Hence it qualifies as a method of reusing and preventing waste. This activity saves energy as well as the materials used for producing a new device.

    Reasons for Buying Refurbished Medical Devices Market Report:

    • This report provides pin-point analysis for changing competitive dynamics
    • It provides a forward looking perspective on different factors driving or restraining market growth
    • It provides a five-year forecast assessed on the basis of how the market is predicted to grow
    • It helps in understanding the key product segments and their future
    • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
    • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

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    Key Market Trends:

    Medical Imaging Equipment is expected to hold a Significant Market Share in the Product Type

    Medical imaging is the process of making a visual representation of the interior of the body for medical intervention. These instruments help in establishing a database of normal anatomy and physiology of internal organs so that any abnormality can be noticed immediately. The medical imaging equipment includes X-ray machines, ultrasound systems, MRI machines, CT scanners, and nuclear imaging systems (pet, spect, and pet/CT), among others. Majority of the clinics and hospitals that have purchased, used, or refurbished medical equipment generally have neutral-to-positive experiences with the purchase. Most end users have been found to indicate that they purchased used or refurbished equipment due to budgetary constraints.

    North America dominates the Market and expected to do Same during the Forecast Period

    North America dominates the global market, due to the high incidence of various chronic .diseases, such as cardiovascular disease and cancer. In addition to that, supportive regulatory policies for selling and using refurbished medical equipment are also expected to drive the growth of this market in North America.

    The Research Document Will Answer Following Questions Such as:

    • What are the cutting-edge technologies responsible for driving the growth of the market?
    • What are the main applications of the market? What are the growth prospects to the market applications into the market?
    • At what stage of development are the key market products?
    • What are the shortcomings that has to face to become commercially viable? Is their growth and commercialization dependent on cost declines or technological/application breakthroughs?
    • What is the outlook for the industry?
    • What difference does performance characteristics of Refurbished Medical Devices create from those of established entities?

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    Detailed TOC of Refurbished Medical Devices Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Cost Containment Pressure on Healthcare Organizations
    4.2.2 Large Inventory of Old or Used Medical Devices
    4.2.3 Rising Trend of Medical Tourism
    4.2.4 Growing Rate of Private Healthcare Institutions
    4.3 Market Restraints
    4.3.1 Quality Issues of Refurbished Medical Equipment among End Users
    4.3.2 Reluctance to Purchase Refurbished Medical Equipment Among Public Healthcare Providers
    4.4 Porter’s Five Forces Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 Product
    5.1.1 Medical Imaging Equipment
    5.1.1.1 X-Ray Machines
    5.1.1.2 Ultrasound Systems
    5.1.1.3 MRI Machines
    5.1.1.4 CT Scanners
    5.1.1.5 Nuclear Imaging Systems (Pet, Spect, and Pet/CT)
    5.1.1.6 Other Medical Imaging Equipment
    5.1.2 Operating Room & Surgical Equipment
    5.1.2.1 Anesthesia Machines
    5.1.2.2 CO2 and Agent Monitors
    5.1.2.3 Microscopes
    5.1.2.4 Electrosurgical Units
    5.1.2.5 Other Operating Room and Surgical Equipment
    5.1.3 Patient Monitors
    5.1.3.1 Multiparameter Monitors
    5.1.3.2 Electrocardiography Devices (ECG)
    5.1.3.3 Pulse Oximeters
    5.1.3.4 Non-invasive Blood Pressure Monitors
    5.1.4 Cardiovascular & Cardiology Equipment
    5.1.5 Neurology Equipment
    5.1.6 Endoscopy Equipment
    5.1.7 Intensive Care Units
    5.1.8 Other Medical Equipment
    5.2 Geography
    5.2.1 North America
    5.2.1.1 US
    5.2.1.2 Canada
    5.2.1.3 Mexico
    5.2.2 Europe
    5.2.2.1 Germany
    5.2.2.2 UK
    5.2.2.3 France
    5.2.2.4 Italy
    5.2.2.5 Spain
    5.2.2.6 Rest of Europe
    5.2.3 Asia-Pacific
    5.2.3.1 China
    5.2.3.2 Japan
    5.2.3.3 India
    5.2.3.4 Australia
    5.2.3.5 South Korea
    5.2.3.6 Rest of Asia-Pacific
    5.2.4 Middle East & Africa
    5.2.4.1 GCC
    5.2.4.2 South Africa
    5.2.4.3 Rest of Middle East & Africa
    5.2.5 South America
    5.2.5.1 Brazil
    5.2.5.2 Argentina
    5.2.5.3 Rest of South America

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Agito medical A/S
    6.1.2 Avante Health Solutions
    6.1.3 Block Imaging International, Inc.
    6.1.4 Everx Pvt Ltd.
    6.1.5 GE Healthcare
    6.1.6 Integrity Medical systems Inc.
    6.1.7 Koninklijke Philips N.V.
    6.1.8 Radio Oncology Systems Inc.
    6.1.9 Siemens Healthcare Systems
    6.1.10 Soma Technology

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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