The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s refurbished medical equipment market report forecasts the refurbished medical equipment market size to grow to $23.35 Billion by 2027, with a CAGR (compound annual growth rate) of more than 14%.

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Refurbished Medical Equipment Market Size Forecast
The global refurbished medical equipment market is expected to grow from $11.69 billion in 2022 to $13.52 billion in 2023 at a compound annual growth rate (CAGR) of 15.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The refurbished medical equipment market size is expected to grow to $23.35 billion in 2027 at a CAGR of 14.6%.

North America held the largest refurbished medical equipment market share, and Asia-pacific was the fastest-growing region in 2022.

Key Refurbished Medical Equipment Market Driver ­– Increase In The Prevalence Of Cancer And Cardiovascular Diseases
For instance, according to GLOBOCAN 2020: New Global Cancer Data released by the International Agency for Research on Cancer (IARC), the global cancer burden had increased to 19.3 million cases and 10 million cancer deaths in 2020. Furthermore, according to the 2021 American Cancer Society report, 1.8 million new cases of cancer diagnosed were diagnosed in 2020. Thus, the rising prevalence of cancer and cardiovascular diseases was a major factor driving the refurbished medical equipment market’s growth.

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Key Refurbished Medical Equipment Market Trend – Undertaking Strategic Alliances
Major companies are undertaking strategic alliances to maintain their strong foothold in the refurbished medical equipment market. For instance, in October 2020, Intalere Inc., a US-based company that provides solutions such as clinical, operational, and financial for healthcare organizations, announced a new agreement with Avante Health Solutions. By this agreement, the Intalere members can get negotiated prices on Avante Health solutions’ refurbished medical imaging equipment such as CT, MRI, ultrasound, and on-site repair services, and inventory of replacement parts. Intalere members can also access Avante Health Solutions’ library of technical support as well as clinical training videos. Avante Health Solutions is a US-based provider of surgical, diagnostic imaging, and radiation oncology equipment.

Refurbished Medical Equipment Market Segment
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

Refurbished Medical Equipment Market Major Players and Strategies
Major players in the refurbished medical equipment market are GE Healthcare, Siemens Healthineers AG, Koninklijke Philips N.V., Integrity Medical Systems Inc., Soma Technology, Radio Oncology Systems Inc., Everx Pvt. Ltd., Canon Medical Systems Corporation, Hilditch Group, Block Imaging International Inc., Master Medical Equipment, FlexrayMedical ApS, Rhombus Medical Equipment LLC, and US Medical Systems LLC.

In February 2022, Avista Capital Partners, a US-based private equity firm, acquired Probo Medical, LLC, for an undisclosed amount. Through this acquisition, Avista Capital Partners will cater to the rising demand for newer, high-quality, refurbished equipment and accelerate expansion. Probo Medical, LLC, is a US-based manufacturer of medical imaging equipment that specialises in refurbished diagnostic imaging equipment.

The Refurbished Medical Equipment Global Market Report 2023 covers regional data on refurbished medical equipment market size, refurbished medical equipment market trends and drivers, opportunities, strategies, and refurbished medical equipment market competitor analysis. The countries covered in the refurbished medical equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Refurbished medical equipment is equipment that is restored to their original condition without changing their original specifications. This equipment is reused several times.

View More Reports Related To The Refurbished Medical Equipment Market –
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