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What Is the Growth Rate of the Refurbished Medical Equipment Market?

The market size of refurbished medical equipment has experienced notable expansion in the past few years. Predictions indicate a rise from $15.66 billion in 2024 to $18.18 billion in 2025, reflecting a compound annual growth rate (CAGR) of 16.1%. The factors responsible for such growth during the historical period include healthcare cost containment, growing need for affordable healthcare services, prolonged lifespan of the equipment, environmental sustainability, and access to cutting-edge technology at reduced prices.

What Growth Rate Is Forecasted for the Refurbished Medical Equipment Market by 2029?

The market for refurbished medical equipment is set to witness a substantial surge in the forthcoming years, expanding to a value of $32.84 billion in 2029 with a compound annual growth rate (CAGR) of 15.9%. The predicted market acceleration during the forecast period is due to persistent fiscal strains on healthcare, global health concerns and distribution of resources, heightened attention on emerging markets, technology enhancements and the obsolescence of old equipment, increase in telehealth and remote patient care. Key market trends projected include the adoption of eco-friendly and circular economic strategies, increasing interest in refurbished surgical equipment, augmented access to warranties and servicing contracts, government schemes promoting the procurement of refurbished equipment, and enhancements in refurbishing techniques.

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Which Key Companies Are Shaping the Future 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, 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.

Which Factors Are Driving Demand in the Refurbished Medical Equipment Industry?

The growth of the refurbished medical equipment market was majorly influenced by the escalating frequency of cancer and cardiovascular diseases. As reported by the US-based Federal government agency, National Cancer Institute, in May 2024, it is projected that there will be around 2,001,140 new cancer diagnoses in the U.S., with anticipated deaths reaching up to 611,720. In the year 2022, approximately 20 million new cases were recorded globally, with about 9.7 million deaths linked to cancer. The projections for 2040 suggest an increase in new cancer cases to about 29.9 million yearly, with equivalent cancer-related deaths climbing up to 15.3 million. Hence, the increasing incidents of cancer and cardiovascular diseases significantly pumped the growth of the refurbished medical equipment market.

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How Is the Refurbished Medical Equipment Market Segmented by Several Divisions?

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

What are the Emerging Market Trends Driving the Growth of the Refurbished Medical Equipment Industry?

In order to preserve their robust presence in the refurbished medical equipment market, key companies are forming strategic partnerships. An example of this occurred in October 2023 when AA Medical, a US-based provider of sustainable solutions, collaborated with MED-SELL.COM, a supplier of previously owned medical devices also based in the US. Their joint mission is to reshape the pre-owned medical device and equipment sector by increasing the diversity and scope of options available, effectively meeting a wider range of healthcare requirements.

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Which Regions Are Driving Growth 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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This Report Delivers Insight On:

1. How big is the refurbished medical equipment market, and how is it changing globally?

2. Who are the major companies in the refurbished medical equipment market, and how are they performing?

3. What are the key opportunities and risks in the refurbished medical equipment market right now?

4. Which products or customer segments are growing the most in the refurbished medical equipment market?

5. What factors are helping or slowing down the growth of the refurbished medical equipment market?

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