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What Is The Anticipated Size Of The Refurbished Medical Imaging Devices Market Over The Five-Year Period 2025–2029?
The market for second-hand medical imaging equipment has experienced robust expansion over the past few years. Projections indicate a rise from a value of $6.34 billion in 2024 to $6.93 billion in 2025, reflecting a consistent annual growth rate (CAGR) of 9.4%. This upward trajectory during the historical timeframe is attributable to several factors, including prevailing healthcare reimbursement regulations, the clinical necessity and demand for these devices, the backing provided by vendors through support and services, the prioritization of patient well-being and care excellence, alongside the evolving landscape of vendors and the level of servicing provided.
Significant expansion is foreseen for the market concerning pre-owned medical imaging equipment over the forthcoming years, projecting a valuation of $10.01 billion by the year 2029, fueled by a compound annual growth rate (CAGR) amounting to 9.6%; this upswing throughout the projection timeframe stems from several factors, including the expansion of healthcare facilities, the increasing rate of device obsolescence, heightened requirements for various diagnostic procedures, the need for particular imaging systems, and routine equipment replacement schedules, while key prevailing movements within this period encompass improvements in system linking and data exchange capabilities, the rise of mobile and settings-appropriate diagnostic tools, a concentrated effort on achieving value and environmental responsibility, designs allowing for subsequent enhancements and component swapping, alongside rigorous adherence to regulatory standards and quality maintenance protocols.
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What Are The Emerging Market Drivers Creating New Opportunities In The Refurbished Medical Imaging Devices Industry?
A surge in the volume of medical diagnostic imaging acts as a primary catalyst expected to fuel the expansion of the market for pre-owned medical imaging apparatus in the foreseeable future. Diagnostic imaging encompasses diverse medical methodologies employed to create visual representations of the body’s interior anatomy for the objective of diagnosis. Greater utilization of screenings focused on preventative health is resulting in a corresponding increase in these imaging tasks, thereby enabling the sooner identification and management of various ailments. Secondhand medical equipment finds extensive application across numerous diagnostic needs, such as identifying bone breaks, scrutinizing the thoracic cavity for pulmonary issues, and evaluating abdominal regions for irregularities. Illustratively, data released in December 2023 by the Canadian Agency for Drugs and Technologies in Health, a non-profit professional entity based in Canada, indicated a considerable escalation of 30.8% in the availability of magnetic resonance imaging (MRI) units across all Canadian provinces and a single territory, moving from 308 units in 2021 up to 403 units in 2022. Furthermore, a study involving 56 privately held imaging centers across Canada, executed by the Canadian Agency for Drugs and Technologies in Health, a governmental body in Canada, revealed that the mean frequency of magnetic resonance imaging (MRI) examinations, which fall under the umbrella of diagnostic imaging, undertaken at a typical private Canadian location shifted slightly from an average of 4,703 procedures (with outcomes spanning 531 to 12,194) during 2021–2022 to an average of 5,178 procedures (with a spread between 569 and 12,389 scans). Consequently, the expanding frequency of diagnostic imaging procedures serves to propel the development trajectory of the market for refurbished medical imaging equipment.
Which Key Segments Fueling The Refurbished Medical Imaging Devices Market?
The refurbished medical imaging devicesmarket covered in this report is segmented –
1) By Product: X-Ray Machines, Magnetic Resonance Imaging (MRI) Systems, Ultrasound Systems, Computed Tomography Scanners, Nuclear Imaging Systems, Other Products
2) By Application: Diagnostic, Therapeutic
3) By End Users: Hospitals, Clinics, Diagnostic Centers, Other End Users
Subsegments:
1) By X-Ray Machines: Analog X-Ray Machines, Digital X-Ray Machines
2) By Magnetic Resonance Imaging (MRI) Systems: Closed MRI Systems, Open MRI Systems
3) By Ultrasound Systems: Portable Ultrasound Systems, Cart-Based Ultrasound Systems
4) By Computed Tomography Scanners: Single Slice CT Scanners, Multi-Slice CT Scanners
5) By Nuclear Imaging Systems: PET Scanners, SPECT Scanners
6) By Other Products: Mammography Machines, C-Arms
What Are The Latest Industry Trends Transforming The Refurbished Medical Imaging Devices Market?
The prominent firms participating in the market for restored medical imaging hardware are concentrating efforts on establishing key alliances to secure an advantage over rivals. These collaborations within the refurbished medical imaging sector typically unite suppliers of medical apparatus with healthcare institutions, facilitating the delivery of pre-owned imaging technology. As an illustration, in October of 2023, AA Medical, an American firm offering eco-friendly solutions, entered into crucial agreements with Tekyard, another US-based entity focused on used, reconditioned technology and medical instruments, Zantek Medical, a US company supplying biomed-certified and refurbished medical equipment, and MED-SELL.COM, an American business engaged in the trade of previously owned medical devices; these moves are designed to bolster AA Medical’s proficiency in managing healthcare assets, reprocessing medical instruments, and handling device disposal. Through these coordinated efforts, AA Medical’s portfolio of products and services will see worldwide growth, strengthening its footing within the market for previously owned medical apparatus, by utilizing Tekyard’s disposal methodologies, Zantek’s expertise in revitalized biomedical hardware, and MED-SELL.COM’s capabilities in handling end-of-life equipment.
Which Key Market Players Are Investing In Expansion And Innovation Of Refurbished Medical Imaging Devices Market?
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.
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Which Region Is Projected To Lead The Refurbished Medical Imaging Devices Market During The Forecast Period?
North America was the largest region in the refurbished medical imaging devices market in 2024. 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.
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