How the Refurbished Medical Equipment Market Will Grow: Key Trends, Market Size, and Opportunities Beyond 2025
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Primary Drivers Are Supporting the Continued Market Growth of theRefurbished Medical Equipment Market?
The escalating incidences of cancer and cardiovascular diseases have led to the expansion of the refurbished medical equipment market. As an example, data from the US-based National Cancer Institute, a Federal government agency, in May 2024 reveals that the US is expected to diagnose an estimated 2,001,140 new cancer cases, and anticipate 611,720 deaths from the disease in 2024. In the year 2022, close to 20 million new instances and 9.7 million fatalities due to cancer were recorded across the globe. It is projected that by 2040, the annual new cancer cases will reach 29.9 million, and cancer-associated deaths will rise to 15.3 million. Consequently, the increasing occurrence of cancer and cardiovascular diseases has significantly propelled the growth of the refurbished medical equipment market.
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#What is the Projected CAGR for the Refurbished Medical Equipment Market Size from 2025 to 2034?
The market size for refurbished medical equipment has seen swift expansion in the past few years. This market is projected to rise from a value of $15.66 billion in 2024 to reach $18.18 billion in 2025, representing a compound annual growth rate (CAGR) of 16.1%. The historical growth in this sector can be linked to efforts in healthcare cost containment, increased demand for affordable healthcare services, greater life expectancy of equipment, considerations for environmental sustainability and the availability of state-of-the-art technology at reduced prices.
It is anticipated that the market size of refurbished medical equipment will experience considerable expansion in the upcoming years, projected to reach $32.84 billion in 2029, rising at a compound annual growth rate (CAGR) of 15.9%. This expected growth can be attributed to persistent cost constraints in healthcare, global health dilemmas, and distribution of resources, a growing emphasis on budding markets, technological advancements, and equipment obsoleteness. The expansion of telehealth and remote care also contribute to this growth. Key trends for the forecasted period include the emphasis on environmental sustainability and circular economy models, an increased focus on refurbished surgical equipment, the growing availability of warranties and service agreements, government initiatives advocating for refurbished procurement, and advancements in refurbishment technologies.
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How Are Consumer Market Innovations Shaping the Current and Future Landscape of theRefurbished Medical Equipment Market?
Leading corporations are forming strategic partnerships to safeguard their powerful presence in the market for refurbished medical equipment. An example of this is the alliance formed in October 2023 between AA Medical, a US provider of sustainable solutions, and MED-SELL.COM, a US supplier of used medical gear. This partnership is dedicated towards re-shaping the ecosystem of pre-owned medical devices and equipment, providing broader solution options and catering to various healthcare requirements.
Who Are the Key Market Players Influencing the Growth of the Corn and Refurbished Medical Equipment Industry?
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, Toshiba Medical Systems Corp, First Source Inc., US Med-Equip Inc., BC Technical Inc., Soma Technology Inc., DMS Topline Medical Inc., Agito Medical AS, Avante Health Solutions, Master Medical Equipment, US Medical Systems LLC, Everx Pvt Ltd., Hilditch Group Ltd., Rosch Medical Systems Pvt Ltd., Block Imaging International Inc., Rhombus Medical Equipment LLC, Fair Medical Co Ltd., Future Health Concepts Inc., Altima Healthcare Services Inc., Jaken Medical Inc., Bluestone Diagnostics Inc., Integrity Medical Systems Inc., FlexrayMedical ApS, Radio Oncology Systems Inc.
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Which Key Market Segments Comprise the Refurbished Medical Equipment Market and Drive Its Revenue Growth?
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
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Which Regions Are Emerging as Leaders in 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.
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