PUBLISHER: The Business Research Company | PRODUCT CODE: 1522313
PUBLISHER: The Business Research Company | PRODUCT CODE: 1522313
Refurbished medical imaging devices refer to previously owned medical imaging equipment that has been restored to meet manufacturer specifications or industry standards for quality and performance. These devices are utilized to optimize asset utilization, enhance efficiency, and provide high-quality patient care in a cost-effective manner.
The main products of refurbished medical imaging devices include X-ray machines, magnetic resonance imaging (MRI) systems, ultrasound systems, computed tomography (CT) scanners, nuclear imaging systems, and others. X-ray machines utilize ionizing radiation to capture images of the body's interior, aiding in the diagnosis of conditions such as fractures, infections, and tumors. They are utilized in various applications including diagnostic and therapeutic purposes and are used by end-users such as hospitals, clinics, diagnostic centers, and others.
The refurbished medical imaging devices market research report is one of a series of new reports from The Business Research Company that provides refurbished medical imaging devices market statistics, including the refurbished medical imaging devices industry global market size, regional shares, competitors with refurbished medical imaging devices market share, detailed refurbished medical imaging devices market segments, market trends, and opportunities, and any further data you may need to thrive in the refurbished medical imaging devices industry. These refurbished medical imaging devices market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The refurbished medical imaging devices market size has grown strongly in recent years. It will grow from $5.76 billion in 2023 to $6.34 billion in 2024 at a compound annual growth rate (CAGR) of 10%. The growth observed in the historic period can be attributed to various factors, including healthcare reimbursement policies, clinical needs and demands, vendor support and services, patient safety and quality of care, and vendor dynamics and service quality.
The refurbished medical imaging devices market size is expected to see strong growth in the next few years. It will grow to $9.33 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth projected in the forecast period can be attributed to several key factors, including the expansion of healthcare infrastructure, the increasing rate of obsolescence, rising demand for diagnostic services, and the need for specialized imaging modalities along with replacement cycles. Additionally, major trends expected in the forecast period include enhanced connectivity and interoperability, the emergence of portable and point-of-care solutions, a heightened focus on cost-effectiveness and sustainability, emphasis on upgradability and modularity, as well as a growing emphasis on compliance and quality assurance measures.
The anticipated growth in the refurbished medical imaging device market is driven by the increasing number of diagnostic imaging procedures. These procedures encompass various medical techniques used to visualize internal body structures for diagnostic purposes. The rising adoption of preventive healthcare measures is contributing to a surge in diagnostic imaging procedures, facilitating early detection and treatment of medical conditions. Refurbished medical machines are commonly employed for diverse diagnostic purposes, such as detecting fractures, assessing lung conditions, and examining the abdomen for abnormalities. For example, in December 2023, the Canadian Agency for Drugs and Technologies in Health reported a substantial 30.8% increase in the number of magnetic resonance imaging (MRI) units across Canadian provinces and territories, indicating the growing demand for diagnostic imaging equipment. Additionally, a survey conducted on privately owned imaging facilities in Canada revealed an uptick in the average number of MRI scans conducted per facility, further highlighting the trend towards increased diagnostic imaging procedures and the consequent demand for refurbished medical imaging devices.
Leading companies in the refurbished medical imaging devices market are actively pursuing strategic partnerships to gain a competitive advantage. These partnerships typically involve collaborations between medical equipment suppliers and healthcare facilities to provide refurbished imaging equipment. For instance, in October 2023, AA Medical announced strategic partnerships with Tekyard, Zantek Medical, and MED-SELL.COM, aimed at enhancing capabilities in healthcare asset management, medical device reprocessing, and disposition. These alliances leverage the expertise of each partner to expand AA Medical's product and service offerings globally, reinforcing its position in the pre-owned medical device market.
In February 2024, Probo Medical bolstered its services by acquiring Alpha Source Group, integrating the latter's technical field service, equipment refurbishment, and parts distribution capabilities. This strategic move enables Probo Medical to offer a broader range of services and strengthens its position in the refurbished medical imaging device market. Alpha Source Group, a provider of refurbished medical imaging devices, adds value to Probo Medical's offerings, enhancing its competitive position and market presence.
Major companies operating in the refurbished medical imaging devices market are Hitachi Ltd., Toshiba Medical Systems Corporation, Siemens Healthineers AG, Koninklijke Philips N.V., Stryker Corporation, General Electric Healthcare LLC, Hologic Inc., Carestream Health Inc., Canon Medical Systems Corporation, TTG Imaging Solutions Inc., Block Imaging International Inc., Avante Health Solutions LLC, Shared Imaging LLC, DRE Medical Inc, Dunlee, Soma Technology Inc., Amber Diagnostics Inc., Radiology Oncology Systems Inc., EverX Pty Ltd, Nationwide Imaging Services Inc., Atlantis Worldwide LLC, DirectMed Imaging, Integrity Medical Systems Inc.
North America was the largest region in the refurbished medical imaging devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the refurbished medical imaging devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the refurbished medical imaging devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The refurbished medical imaging devices market consists of sales of fluoroscopy systems, bone densitometers, and mammography machines. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Refurbished Medical Imaging Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on refurbished medical imaging devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for refurbished medical imaging devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The refurbished medical imaging devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.