Untapped Value Pools to Emerge in Refurbished Medical Equipment Market in the COVID-19 Era and Beyond: TMR Study

- 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

News provided by

Transparency Market Research

Jul 06, 2020, 07:30 ET

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
Others

Operating Room Equipment

Heart-lung Machines
Defibrillators
Anesthesia Machines
Electrosurgical Units
Others

Patient Monitoring Devices

Multi-parameter Monitors
Electrocardiography Devices (ECG)
Pulse Oximeters
Neonatal Monitors
Others

Others

Refurbished Medical Equipment Market, by Application

Cardiology
Respiratory and Gastroenterology
Neonatal Care
Orthopedic
Others

Refurbished Medical Equipment Market, by End User

Hospitals
Diagnostic Centers
Ambulatory Surgical Centers
Others

Refurbished Medical Equipment Market, by Region

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Spain
Rest of Europe

Asia Pacific

China
India
Japan
Australia
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

GCC Countries
South Africa
Rest of MEA

Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:

Operating Room Equipment Market: The global operating room equipment market has been expanding significantly over the last two decades, and the market has been characterized by technological innovation and increase in preference for technologically sound and accurate medical and surgical equipment.

Multi-parameter Patient Monitoring Equipment Market: According to the report, the global multi-parameter patient monitoring equipment market was valued at US$ 3.8 Bn in 2018 and is anticipated to expand at a CAGR of 3.7% from 2019 to 2027, the global market is driven by increase in prevalence of chronic pain, and rise in demand for home monitoring.

Wearable Medical Devices Market: Global wearable medical devices market was valued at approximately US$ 6.8 Bn in 2017 and is anticipated to reach a value of approximately US$ 29.6 Bn by 2026, expanding at a CAGR of 17.7% from 2018 to 2026, the global market is driven by the rise in prevalence of chronic pain, increase in diabetic population, increase in the geriatric population, and a surge in the rate of adoption of technologically advanced wearable medical products.

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