- Hospitals and Cardiology segment to propel growth in a major way over the forecast period
- Increase in incidence of chronic diseases is set to be a major contributor of growth in the market
- North America will account for a sizeable share of the market; Asia Pacific will present untapped growth opportunities
ALBANY, New York, July 6, 2020 /PRNewswire/ -- From 2019 to 2027, growth in global refurbished medical equipment market would be robust. It would reach a valuation of about USD 24 billion by the end of this period, creating rewarding opportunities of growth. And, it is quite pertinent to note here that a number of trends and drivers will underscore it. The on-going pandemic of COVID-19 is a particularly strong factor as hospitals across the world prepare themselves for tackling the ever-growing human and humanitarian challenge by stocking up on inventories of these cost-effective medical equipment.
Transparency Market Research notes, "Use of heart-lung machines is increasing owing to factors such as ageing population, growing prevalence of chronic illnesses and increase in cases of COVID-19 infections. However, since these imaging and critical care equipment are expensive, demand for refurbished medical equipment would grow."
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Key Findings of Global Refurbished Medical Equipment Market Study:
- On the basis of end-user, the segment for hospitals will contribute notably to growth
- Cardiology segment under the applications category will expand at a high growth rate
- In the product category, sizeable share will be accounted for by the medical imaging equipment segment
For a detailed analysis of global refurbished medical equipment market by product, application, end-use, and region, visit TOC https://www.transparencymarketresearch.com/report-toc/858
Key Drivers of Growth in Global Refurbished Medical Equipment Market:
- Population across the world is ageing rapidly, particularly in regions of North America and Europe
- Prevalence of chronic diseases is high due to poor lifestyle choices and increase in risk factors
- Distribution channels across the globe are strengthening due to proactive measures taken by market players to plug in demand and supply gaps
- 2 billion people will mark the age group of 65 and above by 2050; the demographic will fuel growth in the market
- Six in ten people in the developed region of U.S. currently suffer from one chronic illness and the ratio is set to increase, this will propel market onto a high growth trajectory
- About 11 million cases of COVID-19 have been reported across the world so far leading hospitals to stock up on low-cost equipment
Regional Analysis of Global Refurbished Medical Equipment Market:
- North America has topped the charts over the last few years and is expected to continue its dominance into the forecast period
- High prevalence of chronic diseases, rapidly ageing population, and a robust healthcare infrastructure will lead the market to this covetable position
- United States and Canada are anticipated to be at the forefront of growth owing to a strong base of top companies in medical device field
- Privatization in the industry and presence of top-tier distributors is also set to propel regional market on to a high trajectory
Analyze global refurbished medical equipment market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=858
Competitive Analysis of Global Refurbished Medical Equipment Market:
A number of major players operate in the global refurbished medical equipment market, making the vendor landscape quite competitive. In fact, several organic and inorganic strategies are deployed by prominent players to improve their market position. Some of these are expansion of geographic footprint, adapting to established guidelines, and improving upon channels of distribution.
Transparency Market Research has covered top players in a comprehensive manner. Profiling include company and financial overview, strategies and way forward, and product information. Some of the renowned names include Siemens Healthineers AG, GE Healthcare, Canon Medical Systems Corporation, Koninklijke Philips N.V, Atlantis Worldwide, LLC, Block Imaging International, Inc., Shimadzu Corporation, and Hitachi, Ltd.
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Global Refurbished Medical Equipment Market: Segmentation
- Refurbished Medical Equipment Market, by Product
- Medical Imaging Equipment
- X-ray Systems
- Ultrasound Systems
- MRI Scanners
- CT Scanner
- Operating Room Equipment
- Heart-lung Machines
- Anesthesia Machines
- Electrosurgical Units
- Patient Monitoring Devices
- Multi-parameter Monitors
- Electrocardiography Devices (ECG)
- Pulse Oximeters
- Neonatal Monitors
- Refurbished Medical Equipment Market, by Application
- Respiratory and Gastroenterology
- Neonatal Care
- Refurbished Medical Equipment Market, by End User
- Diagnostic Centers
- Ambulatory Surgical Centers
- Refurbished Medical Equipment Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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