Global Surge in Demand for Affordable Medical Equipment to Boost Refurbished Market Through 2031

The global refurbished medical devices market size was valued at USD 15.75 billion in 2023 and is projected to grow from USD 16.73 billion in 2024 to USD 27.11 billion by 2031, exhibiting a CAGR of 7.14% during the forecast period.This report provides a comprehensive overview of the Keyword market, its growth drivers, key segments, regional insights, and competitive landscape. It serves as a valuable resource for businesses, investors, and industry professionals seeking to capitalize on emerging opportunities and navigate market uncertainties.

Competitive Landscape

The global Keyword market is competitive in nature. In addition to segmental and regional analyses, our study offers a comprehensive view of the competitive landscape in the Keyword market. We delve into the strategies employed by key market players, both organic and inorganic, to strengthen their market position. This information includes an assessment of their strengths, weaknesses, opportunities, and restraints, providing valuable insights for stakeholders.

Key Companies in Refurbished Medical Devices Market:

• GE HealthCare
• Koninklijke Philips N.V.
• Siemens
• Canon Inc.
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
• Block Imaging, Inc.
• Soma Tech Intl.
• Avante Health Solutions
• AGITO Medical
• Integrity Medical Systems, Inc.
• Hilditch Group
• Master Medical Equipment
• EVERX
• Radiology Oncology Systems
• Probo Medical

Market Overview

The Keyword market has demonstrated remarkable growth, propelled by various factors. These growth drivers have reshaped consumer preferences, introduced technological innovations, and influenced governmental policies. Understanding these trends is crucial for businesses aiming to proactively adapt to market changes and identify new avenues for growth. Furthermore, the report also highlights pivotal factors such as favorable government initiatives, technological advancements, and increasing product development.

The Keyword market research report from Extrapolate is a crucial resource for companies looking to succeed in the global Keyword industry. Organizations can make informed decisions, create powerful marketing strategies, and stay ahead of the curve in this quickly changing environment with the help of our analyses.

In order to assist businesses in proactively addressing potential challenges, we offer an extensive comprehension of hidden risks, encompassing factors such as evolving regulatory policies and economic fluctuations. These valuable insights empower organizations with the necessary tools to navigate uncertain circumstances.

Segmental Analysis:

The report offers an in-depth segmental analysis, providing insights into the most lucrative segments within the Keyword market. By examining customer behaviour, purchasing habits, and demographic trends, businesses can refine their marketing strategies and create tailored experiences for their target audience. The segmentation is based on (product), (application), and geographical regions. The report also focuses on the driving factors and restraints impacting the global Keyword market growth.

Market Segmentation

• By Product Type (Medical Imaging Systems, Operating Equipment and Surgical Devices, Patient Monitoring Equipment, Others): The medical imaging systems segment earned USD 5.92 billion in 2023, due to the high demand for cost-effective diagnostic solutions and the widespread refurbishment of high-value imaging equipment such as MRI and CT scanners.
• By End User (Hospitals, Clinics and Physician Offices, Diagnostic Centers, and Clinical and Research Laboratories): The hospitals segment held 39.54% share of the market in 2023, due to their large equipment needs, budget limitations, and preference for reliable refurbished systems to enhance their diagnostic and surgical services.

Regional Insights:

The study presents a detailed regional analysis of the Keyword market, covering North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. This evaluation enables businesses and investors to identify region-specific opportunities and assess market dynamics, enhancing their market presence in these areas.

North America refurbished medical devices market share stood at around 36.74% in 2023, with a valuation of USD 5.79 billion. The region holds the largest share of the market primarily due to the high demand for cost-effective medical solutions across hospitals, diagnostic centers, and private healthcare providers.

The high healthcare spending in the U.S. and Canada, along with the preference for premium-quality refurbished equipment in settings where budgets are a concern, significantly contributes to this dominance.

Additionally, North America's healthcare infrastructure, advanced medical technology needs, and strong healthcare sector, particularly in the U.S., drive the demand for refurbished diagnostic imaging and surgical equipment.

For more information on the report, visit: https://www.kingsresearch.com/refurbished-medical-devices-market-1908

Table of Content:

1 Introduction of The Global Keyword Market

2 Executive Summary

3 Research Methodology

4 Global Keyword Market Outlook

5 Impact of Russia-Ukraine War

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