Growing Demand for Global Refurbished Medical Imaging Equipments Market research

Posted by Rashi Pande on December 18th, 2019

Market Analysis: Global Refurbished Medical Imaging Equipments Market

Global refurbished medical imaging equipments market is expected to rise to an estimated value of USD 1934.29 million by 2026, registering a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the various initiatives undertaken by the market players to improve their services while also focusing on expanding their presence in different regions.

Market Definition: Global Refurbished Medical Imaging Equipments Market

Refurbished medical imaging equipments are medical imaging systems that have been repaired and are under a certain warranty covered by the reseller or the original manufacturer of the product. These equipment offerings have been upgraded by either the reseller or OEM to resell at a lower than cost than new equipments and certain spare parts are also provided depending on the product offering.

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Global Refurbished Medical Imaging Equipments Market By Product (CT Scanners, MRI Systems, X-Ray Systems, Ultrasound, SPECT/PET Scanners, Others), End-User (Hospitals, Diagnostic Centers, Ambulatory Surgical Centers, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026

Market Drivers

• Increasing demand for low-cost refurbished equipments from various developing regions of the world is expected to boost the growth of the market
• Lack in the availability of budgets for healthcare equipments is expected to drive the growth of the market
• Increasing prevalence of geriatric population globally is also expected to drive the growth of the market
• Growing levels of skilled individuals resulting in greater availability of services for consumers; this factor is expected to drive the growth of the market

Market Restraints

• Lack of supporting initiatives/policies available from the government is expected to restrict the growth of the market
• Lack of preference from end-users for refurbished equipment due to a negative outlook is expected to restrain the growth of the market

Segmentation: Global Refurbished Medical Imaging Equipments Market

By Product

• Computed Tomography (CT) Scanners
• Magnetic Resonance Imaging (MRI) Systems
• X-Ray Systems
• Ultrasound
• Single-Photon Emission Computed Tomography/Positron Emission Tomography (SPECT/PET) Scanners
• Others

By End-User

• Hospitals
• Diagnostic Centers
• Ambulatory Surgical Centers
• Others

By Geography

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • U.K.
  • France
  • Spain
  • Netherlands
  • Belgium
  • Switzerland
  • Turkey
  • Russia
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
  • Singapore
  • Malaysia
  • Thailand
  • Indonesia
  • Philippines
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Rest of South America
• Middle East and Africa
  • South Africa
  • Rest of Middle East and Africa

Key Developments in the Market:

• Second edition of Recommerce Expo will be held in New Delhi, India from December 19-21, 2019 and will discuss the various problems associated with refurbished electronics and equipments in the industry. The focus of the conference will be to provide a platform for manufacturers, organizations, consumers and healthcare organizations regarding the need for developing a sustainable business system
• In January 2019, Sanrad Medical Systems Private Limited recently announced that they had established a facility located in Karnataka, India. The 5000 sq. ft. facility located in Bengaluru, Karnataka will help the company establish themselves as the leader of refurbished medical systems in India. This facility was introduced to meet the growing business demand. The new facility will stock and manage the X-Ray systems as well as DR systems for the Indian market.

Key Market Competitors:

Few of the major competitors currently working in the global refurbished medical imaging equipments market are GENERAL ELECTRIC COMPANY; Canon Medical Systems, USA; Atlantis Wordwide; Koninklijke Philips N.V.; Block Imaging; Siemens Healthcare GmbH; Blue Star Limited; Biomex; AGITO Medical A/S; DRE Medical; Everx Pvt Ltd.; Integrity Medical Systems, Inc.; BC Technical; LBN Medical A/S; Southwestern Imaging Systems and Services; RadSource; CURA Healthcare; Sanrad Medical Systems Private Limited; Radiology Oncology Systems; Soma Technology, Inc. among others.

Competitive Analysis:

Global refurbished medical imaging equipments market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of refurbished medical imaging equipments market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.