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What CAGR Will the Refurbished MRI Systems Market Achieve During 2025–2034, and What Does It Indicate?

The market size for refurbished MRI systems has seen impressive expansion in the last few years. It is set to swell from $0.77 billion in 2024 to $0.85 billion in 2025, yielding a Compound Annual Growth Rate (CAGR) of 10.7%. This progression over the historical period can be traced back to factors such as the requirement for economical solutions, constraints in healthcare funding, escalating total healthcare costs, growing occurrence of long-term illnesses, and an increased demand for sophisticated diagnosis instruments.

The market size of refurbished MRI systems is forecasted to witness a substantial increase in the upcoming years, expanding to $1.27 billion by 2029 with a 10.4% CAGR. The projected growth can be linked to the escalating demand for cost-effective medical devices, growing health benefits awareness, the rising aging populace, government-driven healthcare improvements, and measures to enhance healthcare accessibility. The leading trends for the projected period encompass refurbishment process technological advancements, increased availability of certified pre-owned MRI systems, the development of independent refurbishing businesses, coupled with heightened emphasis on sustainability and eco-friendly operations, along with the surge in online sales platforms and channels.

Which Primary Drivers Are Supporting the Continued Expansion of the Refurbished MRI Systems Market?

As more individuals seek healthcare services, it’s projected that the refurbished MRI systems market will expand in response. Healthcare services, which include preventive, diagnostic, therapeutic, and palliative care, are designed to enhance or maintain individual health. The amplified demand for these services is due to aging populations, greater instances of chronic diseases, advancements in medical technology, and broader access to healthcare. To accommodate this growing need, refurbished MRI systems offer an affordable yet high-quality solution for imaging needs, improving diagnostic capabilities and accessibility. As an example, Health Affairs, an academic journal based in the U.S., reported that the nation’s healthcare spending is predicted to increase from $4,799.3 billion in 2023 to $5,048.8 billion in 2024. This represents an approximate increase of $249.5 billion. Because of this, the ever-growing demand for healthcare services is fueling the growth of the refurbished MRI systems market.

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Who Are the Key Firms Paving the Way for Growth in the Refurbished MRI Systems Market?

Major companies operating in the refurbished MRI systems market are:

• Hitachi Ltd.

• Siemens Healthineers

• Koninklijke Philips N.V.

• GE Healthcare

• Hologic Inc.

What Are the Most Influential Trends Currently Shaping the Refurbished MRI Systems Market?

Prominent organizations active in the market for refurbished MRI systems are concentrating their efforts on the development of superior-resolution imaging technologies, such as gradient technology, in order to acquire a competitive edge. Producing controlled variations in the magnetic field, gradient technology is vital to generating detailed MRI images. As an example, Arnica HealthTech, an MRI system firm located in India, launched the Avanto Refurbished Siemens MRI Machine in March 2024, providing top-quality medical imaging at a cost-effective price. Renowned for its exceptional image quality and patient-centric design, the Avanto model incorporates Tim technology for quicker scans, Magnetom gradients for high-definition imaging, and cutting-edge applications like diffusion-weighted and perfusion imaging. The design also gives priority to patient comfort featuring a wide bore, noise minimization, and mood lighting, ensuring a more soothing experience.

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Which Industry Segments Are Leading the Development and Expansion of the Refurbished MRI Systems Market?

The refurbished mri systems market covered in this report is segmented –

1) By Architecture: Closed System, Open System

2) By Field Strength: Low Field Strength, Mid Field Strength, High Field Strength

3) By End Use: Hospitals, Imaging Centers, Ambulatory Surgical Centers, Other End Users

Subsegments:

1) By Closed System: Superconducting MRI Systems, Permanent Magnet MRI Systems, Resistive Magnet MRI Systems

2) By Open System: Open-High Field MRI Systems, Open-Low Field MRI Systems

Which Regions Are Essential for the Growth of the Refurbished MRI Systems Market?

North America was the largest region in the refurbished MRI systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the refurbished MRI systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

What Key Elements Shape the Definition of the Refurbished MRI Systems Market?

Refurbished magnetic resonance imaging (MRI) systems refer to previously owned MRI machines that have undergone maintenance and upgrades to ensure optimal functionality. These systems are utilized for diagnostic imaging in medical facilities seeking cost-effective solutions for upgrading their imaging capabilities.

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