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Refurbished Medical Equipment Global market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
The Business Research Company's Refurbished Medical Equipment Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
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The refurbished medical equipment market has rapidly expanded, projected to grow from $13.74 billion in 2023 to $16.05 billion in 2024, with a CAGR of 16.8%. The historical growth is attributed to efforts in healthcare cost containment, rising demand for affordable healthcare solutions, the extended lifecycle of equipment, environmental sustainability, and improved access to advanced technology at lower costs.
What Are the Forecasts in the Global Refurbished Medical Equipment Market Size for Market Growth and Annual Expansion?
The refurbished medical equipment market is expected to see rapid growth, projected to reach $28.71 billion by 2028 with a CAGR of 15.6%. This growth is driven by ongoing cost pressures in healthcare, global health challenges, resource allocation, increased focus on emerging markets, technological upgrades, and the rise of telehealth and remote care. Major trends include environmental sustainability and circular economy practices, heightened focus on refurbished surgical equipment, improved availability of warranty and service contracts, government support for refurbished procurement, and advancements in refurbishment technologies.
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What Are The Key Growth Drivers In The Refurbished Medical Equipment Market?
The increasing demand for eco-friendly products has driven the growth of the refurbished medical equipment industry. Eco-friendly products minimize environmental impact throughout their life cycle, from raw material sourcing to disposal. Refurbishing medical equipment extends its life, prevents it from ending up in landfills, and reduces the need for new materials and manufacturing, supporting sustainability efforts.
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Who are the Key Industry Players Stepping Up in the Refurbished Medical Equipment Market?
Major companies operating in the market report are Johnson & Johnson Services Inc., 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.
What Trends Are Shaping The Growth Of The Refurbished Medical Equipment Market Size?
Strategic alliances are being formed by major players in the refurbished medical equipment market to reinforce their market position.
What Are the Different Segments of the Global Refurbished Medical Equipment Market?
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
Geographical Insights: North America Leading The Refurbished Medical Equipment Market
North America was the largest region in the refurbished medical equipment market in 2023. Asia-Pacific is predicted to record the fastest growth over the forecast period. The regions covered in the refurbished medical equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition Of The Refurbished Medical Equipment Market?
Refurbished medical equipment is restored to its original condition without altering its specifications, allowing for multiple uses.
The Refurbished Medical Equipment Global Market Report 2024 from The Business Research Company includes the following key information:
. Market size data for both historical and future periods
. Analysis of both macro and microeconomic factors that have impacted the market over the past five years
. Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
. Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Refurbished Medical Equipment Market Report: Trends, Opportunities, Strategies, and More
The Refurbished Medical Equipment Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into refurbished medical equipment market size, refurbished medical equipment market drivers and trends, refurbished medical equipment global market major players, refurbished medical equipment competitors' revenues, refurbished medical equipment global market positioning, and refurbished medical equipment market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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Oliver Guirdham
The Business Research Company
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