Refurbished Medical Devices Market Research Report, by Diagnostic Devices (X-Ray Machines, CT Scanners, Ultrasound Systems, MRI Machines, ECG Systems, Patient Monitors and other), by Therapeutic Devices (Heart-Lung Machines, Coagulation Analysers, Infant Incubators and Warmers, Defibrillators, Infusion Pumps and other) - Forecast Till 2027
The global report on the refurbished medical devices market focuses on several factors that can inspire growth in the coming years. These factors are the rising demand for these products from developing and under-developed countries where there is a budget constraint for top-class models. These devices are often cost-affordable due to which their inclusion becomes easier in countries with financial problems. Also, the demand for a reduction in medical waste is getting tailwinds due to which a surge in the inclusion of refurbished medical devices market is possible. Apart from these, the impact created by e-Marketing is expected to take the global market ahead.
Market Research Future (MRFR) made some interesting predictions about the refurbished medical devices market. The market is set to score a 10.8% CAGR during the forecast period of 2018-2023.
However, the market may get restricted by the lack of awareness regarding such products and huge import tax.
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The global report on the refurbished medical devices market has been segmented by MRFR analysts on the basis of diagnostic devices and therapeutic devices. These segments have several aspects that can be studied for a better market understanding. The process is expected to become easier with inputs on the basis of charts, graphs, and figures.
By diagnostic devices, the global market for refurbished medical devices can be segmented into CT scanners, X-Ray Machines, MRI machines, Ultrasound Systems, patient monitors, ECG systems, and others. The patient monitor segment can be studied on the basis of portable patient monitoring devices and others.
By therapeutic devices, the report on the global refurbished medical devices market has been segmented into coagulation analyzers, heart-lung machines, defibrillators, infusion pumps, infant incubators and warmers, and other.
The global market for refurbished medical devices has been discussed on the basis of regions to find out various growth pockets. This will help in better exploration of opportunities and can trigger an increase in profit margin. In North America, the market has a substantial reach, which is why growth would be remarkable. The regional market is slated to dominate the global market. In the Asia Pacific, the market would witness the highest rise during the forecast period. This is for the growing expansion of the market in developing countries where countries are spending much to revamp the healthcare sector.
Stryker Corporation (US), GE Healthcare (US), Siemens Healthcare (Germany), Phillips Healthcare (Netherlands), Johnson Johnson (US), First Source, Inc (U.S.), DMS Topline (U.S.), Agito Medical (Denmark), Toshiba Medical System (Japan), Soma Technology (U.S.), and Block Imaging International (US) are some of the companies who are having a strong impact on the global market growth during the forecast period. These companies would use their strategic mechanisms to trigger global market growth. Merger, research and development, innovation, acquisition, launching, branding, tie-up, and others are major methods that these players take up to inspire market growth.
The global market for refurbished medical devices is getting substantial backing from the growing demand for a reduction in the medical wastes. Across the world, the amount of medical device waste is rising and often, these things are leaving hazardous traces in the environment. This is why companies are taking initiatives to refurbish these devices by increasing the reusing and recycling of materials. In developing countries and under-developed ones where governments are trying to revamp the healthcare structure at a lower cost, there this growth is getting ample support from the market.
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