With increasing expenses, hospitals and healthcare organisations are seeking for means to provide cost effective healthcare without compromising the healthcare quality for patients. Refurbished medical equipment helps to reduce expenses for healthcare providers without compromising quality of treatment. The global refurbished medical equipment market is expected to have a CAGR of 12.8% during the forecast period 2016-2023.
Increasing inventory of used or old medical devices, e-commerce facilitating purchase of refurbished equipments, rising demand for costly diagnostic imaging equipment and refurbished equipment in private healthcare sector, and refurbishing & recycling medical equipment devices are the factors driving the global refurbished medical devices market for the forecast period.
Rising number of private hospitals and diagnostic centres and emerging economies that are looking forward for cost effective medical equipment are the major opportunities for global refurbished medical equipments market. Adoption of refurbished medical equipment is driven by following factors:
- Growing inventory of used or old medical devices
- E-commerce facilitating purchase of refurbished equipments
- Demand for costly diagnostic imaging equipment
- Demand for refurbished equipment in private healthcare sector
- Refurbishing and recycling a healthy environmental process
Factors like new cost effective medical equipments and varying regulatory rules for using refurbished medical equipments are hampering the growth of globalrefurbished medical equipment market.
Perception that refurbished medical equipment is of inferior quality and reluctance by healthcare organisations to buy refurbished medical equipment products are the factors restraining the growth of globalrefurbished medical equipments market for the forecast period.
Source: OBRC Analysis
The global refurbished equipments market is segmented on the basis of products as:
- Medical Imaging Equipments
- Patient Monitoring Devices
- Neurology Equipment
- Cardiovascular Equipment
- Neonatal Care Equipment
- Operation Theatre Equipment
- ICU Systems
- Intravenous Therapy Systems
- Other
The revenue for the above products, are specific to the global refurbished medical equipment market. However, the total revenue of these products and devices in general been excluded from the scope of the report.
The research report analysed refurbished medical equipment market geographically. Region wise the report is segmented as:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
North America leads the global refurbished medical equipment market followed by Europe. Private healthcare system and medical tourism are the factors contributing to the rising usage ofrefurbished medical equipment in North America and Europe. Supportive regulatory structure and awareness about reuse and recycle of medical equipments are driving the market of North America and Europe for the forecast year.
Asia Pacific hasthe fastest growth rate for refurbished medical equipment market for the forecast year. Large population base, cost effective treatment programmes by government, competent reimbursement policies are the factors contributing to the refurbished medical equipment market in the region. Emerging economies like China and India are at the forefront of refurbished medical equipment market in Asia Pacific. Leading companies in refurbished medical equipment’s are seeking joint ventures, partnerships and distributors to gain market penetration in the region.
African nations like Nigeria, Zimbabwe, Chad, and others have a huge market for refurbished medical equipment with the need to provide cost effective healthcare to the growing population.
Some of the leading companies in the refurbished medical equipment market
- SIEMENS HEALTHCARE SYSTEMS
- PHILIPS HEALTHCARE
- GE HEALTH
- DRE MEDICAL
- OTHER
Detailed analysis of these companies provided in this report comprises overview, SCOT analysis, product portfolio, strategic initiative and strategic analysis.
For Example: On November 2016, Siemens healthcare launched Atellica COAG 360 system high-volume Specialty HemostasisAnalyzer. It helps to replace 3-stand alonesystems just with one analyzerand reduces manual labour and provides better clinical outcomes in less time.Joint ventures, agreements, partnerships, collaborations, expansion in different countries, and strengthening supply chain network with distributors are some of the strategies taken by pioneers in refurbished medical equipment market, to increase their global presence.
Why to buy the report:
This report will:
- Provide you the business strategies adopted by market player such as product launch as on November 2016, SiemenslaunchedAtellica COAG 360 Systtem high-volume Specialty HemostasisAnalyzer.
- Provide in detail the different segments such as products which affect the global refurbished medical equipment market.
- Provide you the patent analysis of global refurbished medical equipment market.
- Identify and understandthe strengths, opportunities, challenges and threats of global refurbished medical equipment market.
- Provide revenues of major players of the market such as Siemens AG and GE Healthcare.
- Provide you various regulatory policies which affect the global refurbished medical equipment market.
How we are different from others:
At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global refurbished medical equipment market offers the longest chain of market segmentation covering major market segmentation based on products. Report tracks the major market trends in the global refurbished medical equipment market are rising prevalence of cardiovascular diseases, cancer and various technological advancements.For each market segments covered in global refurbished medical equipment market report, we provide opportunity matrix, and DROC analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the refurbished medical equipment industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360-degree analysis, See Saw analysis, and Porter five force model and so on. For the high-level analysis in the report we provide a comparative analysis of historic and current year data.
Key findings of the global refurbished medical equipment market:
- High demand for costly diagnostic imaging equipment and increasing privatization in healthcare sectorisfuelling growth in global refurbished medical equipment market.
- North America accounted the largest revenue share in 2016.
- Product launch is the key strategy adopted by the various market players of global refurbished medical equipment market.