Refurbished Medical Imaging Equipment Market Outlook 2031
- The global refurbished medical imaging equipment market was valued at US$ 7.1 Bn in 2021
- It is estimated to advance at a CAGR of 9.1% from 2022 to 2031
- The global refurbished medical imaging equipment market is expected to reach US$ 18.3 Bn by the end of 2031
Refurbished Medical Imaging Equipment Market Introduction
Refurbishment is the restoration of a device to its original specifications. It ranges from replacement of basic wear parts and esthetic changes to a complete end-to-end refurbishment. Demand for used and refurbished medicine equipment; and refurbished nuclear medicine equipment is rising across the globe. The refurbishment process offers safety, reliability, quality, and improved performance by extending the product lifecycle. Refurbished equipment is cost-effective, and can be used for longer periods. Refurbishment of medical imaging equipment is carried out in two ways: cosmetic refurbishment and mechanical/electrical refurbishment.
Cosmetic refurbishment includes surface treatment and painting, while mechanical/electrical refurbishment comprises complete replacement or restoration of parts/components. The global refurbished medical imaging equipment market share is estimated to increase during the forecast period, due to the rise in cost constraints on hospitals and diagnostic imaging centers; and budget cuts from governing agencies for public hospitals. Furthermore, decrease in reimbursement for imaging procedures is compelling hospitals and diagnostic imaging centers to opt for low-priced and quality imaging equipment.
Get Sample Copy of the Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=20717
Rise in Demand for Low-priced and Quality Equipment to Drive Global Refurbished Medical Imaging Equipment Market
Various public hospitals across the globe are undergoing privatization, which has led to cost constraints. This coupled with a decrease in budgeted expenditure and reduction in reimbursement for imaging procedures has prompted hospitals to opt for affordable and quality refurbished equipment. For example, public hospitals in the Netherlands are undergoing privatization, which is likely to drive the demand for refurbished medical equipment in the country. Refurbished medical imaging equipment and parts are available at 40% to 60% of the prices of new devices. Furthermore, suppliers assure timely delivery and services. This makes refurbished medical devices a preferred choice among hospitals, diagnostic imaging centers, and private practitioners. OEMs are also offering quality refurbished equipment and parts at low costs along with a comprehensive warranty on refurbished devices.
Technological Obsolescence Boosting Demand for Refurbished Medical Imaging Equipment
Ongoing developments in imaging technologies are enabling companies to be competitive in the healthcare services market. Several healthcare providers are opting for replacement or upgrade of existing imaging equipment. Rise in demand for technically advanced imaging equipment and simultaneous cost constraints among hospitals and imaging diagnostic centers are likely to fuel the demand for refurbished imaging equipment and parts. Increase in penetration of key manufacturers in developing countries to reduce capital investment is also anticipated to propel the refurbished medical imaging equipment market in the next few years.
Get Custom Research Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=20717
Rise in Application of MRI Scanners to Fuel MRI Equipment Segment
Based on product type, the global market for refurbished medical imaging equipment has been classified into X-ray devices, ultrasound systems, CT scanners, MRI equipment, and others. The MRI equipment segment dominated the global refurbished medical imaging equipment market with around 28% share in 2021. The segment is anticipated to maintain its dominance during the forecast period. Applications of MRI scanners are increasing in the diagnosis of neurological, cardiovascular, skeletomuscular, and oncology diseases. This is likely to drive the demand for MRI scanners across the globe. Introduction of open MRI scanners is also creating lucrative opportunities for market players.
Focus on Early Diagnosis of Cancer to Drive Oncology Segment
In terms of application, the global refurbished medical imaging equipment market has been segmented into oncology, cardiovascular, gynecology, orthopedic, and others. The oncology segment held major share of 25% of the global market in 2021. It is projected to remain dominant during the forecast period. Growth of the segment can be ascribed to the rise in focus on early diagnosis, expanding patient population, and increase in number of diagnostic imaging procedures to detect cancer. Additionally, presence of a large number of OEMs and rise in agreements & collaborations between end-users and service providers are the prominent factors fueling the oncology segment.
Get Report Methodology @ https://www.transparencymarketresearch.com/sample/sample.php?flag=RRM&rep_id=20717
Hospitals Witnessing High Demand for Refurbished Medical Imaging Equipment
Based on end-user, the global refurbished medical imaging equipment market has been classified into hospitals, diagnostic centers, ambulatory surgical centers, and others. The hospitals segment dominated the global refurbished medical imaging equipment market in 2021 with the largest market share of around 46%. The segment is also expected to register the highest CAGR during the forecast period. Rise in demand for refurbished hospital equipment offers lucrative opportunities for manufacturers. Growth of the hospitals segment can be ascribed to budget constraints among hospitals, competitive scenario in terms of advanced service provision, and increase in number of private hospitals in Asia Pacific and emerging markets.
Regional Outlook of Refurbished Medical Imaging Equipment Market
North America held the largest volume share of around 37% of the global refurbished medical imaging equipment market in 2021. The region is expected to dominate the global market during the forecast period. This can be ascribed to the increase in presence of OEMs and third-party refurbishers in North America. Europe held around 32% value share of the global refurbished medical imaging equipment market in 2021. It is projected to be the fastest-growing region during the forecast period, owing to the rise in demand for new and efficient refurbished diagnostic imaging equipment. Asia Pacific held larger share of the market than Latin America and Middle East & Africa; however, the market in Latin America region is expected to grow at a faster pace compared to that in Middle East & Africa.
Make an Enquiry Before Buying @ https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=20717
Analysis of Key Players in Global Refurbished Medical Imaging Equipment Market
The global refurbished medical imaging equipment market report includes vital information about the leading players in the market. Companies are focusing on strategies such as new product launches, mergers & acquisitions, and partnerships to strengthen their position in the market. Leading players in the global refurbished medical imaging equipment market include CANON MEDICAL SYSTEMS CORPORATION (Canon Inc.), Carestream Health (ONEX Corporation), GE Healthcare (General Electric Company), Hologic, Inc., Koninklijke Philips N.V., Shimadzu Corporation, Fujifilm Holdings Corporation, and Siemens Healthineers AG.
About Us
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update – https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Contact
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: [email protected]