2025-2034 Growth Prospects of the Refurbished Medical Equipment Market: Key Trends and Opportunities Analyzed
Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!
How Significant is the Anticipated Growth Rate of the Refurbished Medical Equipment Market from 2025 to 2034?
The market size for refurbished medical equipment has seen significant expansion in the past few years. Its growth is forecasted to increase from $15.66 billion in 2024 to $18.18 billion in 2025, with a compound annual growth rate (CAGR) of 16.1%. Factors contributing to this growth during the historical period include the need to control healthcare costs, escalating demand for affordable healthcare, prolonged lifespan of equipment, promotion of environmental sustainability, and the opportunity to access advanced technology at reduced costs.
In the coming years, the market for refurbished medical equipment is projected to witness swift expansion, growing to $32.84 billion by 2029 with a compound annual growth rate (CAGR) of 15.9%. Persistent cost issues in healthcare, world health hurdles, and the assignment of resources, as well as an increased focus on rising markets, technology upgrades, and equipment obsolescence, along with the advancement of telehealth and remote care, are all contributors to the growth expected within this forecast period. Key future trends include environmental durability, circular economy strategies, an escalated emphasis on refurbished surgical devices, wider accessibility of warranty service arrangements, government-driven programs backing refurbished procurement, and innovation in refurbishment technologies.
What Industry-Specific Factors Are Fueling the Growth of the Refurbished Medical Equipment Market?
The escalating occurrence of both cancer and cardiovascular ailments has positively impacted the growth of the refurbished medical equipment market. The National Cancer Institute, a federal government agency based in the US, projected in May 2024 that around 2,001,140 new cancer instances will surface in the U.S by 2024, with a forecasted total of 611,720 deaths due to the ailment. There were nearly 20 million new cancer cases and 9.7 million associated deaths globally in 2022. The number of annual new cancer cases is anticipated to surge to 29.9 million by 2040 and the number of deaths from cancer to 15.3 million. As a result, the growing incidence of cancer and cardiovascular ailments significantly spurred the progression of refurbished medical equipment market.
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Who Are the Dominant Players Pushing the Boundaries of the Refurbished Medical Equipment Market?
Major companies operating in the refurbished medical equipment market include:
• Siemens Healthineers AG
• Koninklijke Philips N.V.
• Stryker Corporation
• GE HealthCare Technologies Inc.
• Canon Medical Systems Corporation
How Are Market Trends Revolutionizing the Refurbished Medical Equipment Industry in Recent Times?
Prominent firms are forming strategic partnerships to strengthen their position in the refurbished medical equipment market. For example, in October 2023, US-based AA Medical, which provides sustainable solutions, teamed up with MED-SELL.COM, another US-based provider of second-hand medical devices. The goal of this alliance is to transform the landscape of used medical devices and equipment, by providing a broader range of solutions designed to meet various healthcare requirements.
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What Are the Strategic Segments Comprising the Refurbished Medical Equipment Market and Their Growth Contributions?
The refurbished medical equipment market covered in this report is segmented –
1) By Product: Medical Imaging Equipment, Operating Room & Surgical Equipment, Patient Monitors, Cardiology Equipment, Urology Equipment, Neurology Equipment, Intensive Care Equipment, Endoscopy Equipment, IV Therapy Systems, Other Products
2) By Application: Diagnostic, Therapeutic
3) By End User: Hospitals, Ambulatory Care Centers, Diagnostic Imaging Centers, Other End-users
Subsegments:
1) By Medical Imaging Equipment: MRI Machines, CT Scanners, Ultrasound Machines
2) By Operating Room And Surgical Equipment: Surgical Tables, Surgical Lights, Anesthesia Machines
3) By Patient Monitors: Vital Signs Monitors, Multi-parameter Monitors, Telemetry Monitors
4) By Cardiology Equipment: ECG Machines, Defibrillators, Echocardiography Machines
5) By Urology Equipment: Urodynamics Equipment, Endoscopic Equipment, Lithotripters
6) By Neurology Equipment: EEG Machines, EMG Machines, Neurostimulators
7) By Intensive Care Equipment: Ventilators, Infusion Pumps, Patient Beds
8) By Endoscopy Equipment: Endoscopes, Video Endoscopy Systems, Sterilizers
9) By IV Therapy Systems: IV Pumps, IV Sets, Infusion Systems
10) By Other Products: Laboratory Equipment, Rehabilitation Equipment, Diagnostic Equipment
Which Geographic Areas Are Influencing the Growth of the Refurbished Medical Equipment Market?
North America was the largest region in the refurbished medical equipment market in 2024. Asia-Pacific is predicted to record the fastest growth over the forecast period. The regions covered in the refurbished medical equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is the Refurbished Medical Equipment Market Classified and Defined in Market Analysis?
Refurbished medical equipment is equipment that is restored to their original condition without changing their original specifications. This equipment is reused several times.
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