Global Refurbished Medical Equipment Market to Reach USD 40.5 Billion by 2033, Impelled by Rising Need for Affordable Medical Equipment

January 06, 2025 | Healthcare

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According to the latest report by IMARC Group, titled "Refurbished Medical Equipment Market Report by Product Type (Medical Imaging Systems, Operating Equipment and Surgical Devices, and Others), Application (Diagnostic Imaging Systems, Minimally Invasive Devices, Biotechnology Instruments, and Others), End-User (Hospitals and Clinics, Diagnostic Centres, Ambulatory Surgical Centres, and Others), and Region 2025-2033," the global refurbished medical equipment market reached a value of USD 16.5 Billion in 2024. Refurbished medical equipment are devices that are restored to their original safety and effectiveness. These devices are reconditioned and repaired, and then are installed with software and hardware updates without altering the original specifications or their intended use. They further undergo a rigorous inspection and meticulous testing to detect worn parts that are replaced to resume the effectiveness of the devices. The damaged and the old parts are also cleaned, disinfected, painted and replaced to meet the OEM specifications. As a result, these machines are available in the market at competitive prices, which have contributed to their widespread popularity across various clinics, hospitals and healthcare institutions.

Global Refurbished Medical Equipment Market Trends:

The global market is primarily driven by the growing requirement for cost-effective, technologically advanced medical devices. Numerous healthcare professionals are adopting refurbished equipment as they aid them in accessing cutting-edge medical devices at extremely low prices. These devices can be procured from reliable providers to ensure optimal condition and durability of the machines. Along with this, numerous healthcare institutions are using these devices to offer affordable services to patients without compromising on quality. Moreover, increasing privatization in the healthcare sector acts as a major growth-inducing factor. This is further facilitated by the growing incidences of chronic diseases, such as diabetes, cancer and cardiovascular disorders, and the rising geriatric population, who are more susceptible to any kind of diseases. Apart from this, increasing governmental efforts toward sustainable development, coupled with an overall rise in environmental consciousness, is further facilitating the adoption of these equipment as they aid in reducing the carbon footprint. The rising trend of medical tourism and the increasing number of partnerships among OEMs and third-party refurbishment service providers are some of the other factors contributing to the market growth. Looking forward, the market value is projected to reach USD 40.5 Billion by 2033, expanding at a CAGR of 9.95% during 2025-2033.

Market Summary:

Based on the product type, the market has been divided into medical imaging systems (computed tomography systems, MRI systems, X-ray, C-arm and radiography equipment, ultrasound systems, mammography equipment, nuclear medicine devices, and others), operating equipment and surgical devices (anesthesia machines and agent monitors, endoscopes and microscopes, vascular closure devices, electrosurgical units, altherectomy devices, and others), and others (patient monitoring devices, defibrillators, coagulation analyzers, neurology equipment, endoscopy equipment and others).
On the basis of the application, the market has been categorized into diagnostic imaging systems, minimally invasive devices, biotechnology instruments and others.
Based on the end-user, the market has been classified into hospitals and clinics, diagnostic centres, ambulatory surgical centres and others.
On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
The competitive landscape of the industry has been examined with the detailed profiles of the key players operating in the market. Some of these players include Philips Electronics Nederland B.V., Block Imaging, EverX Pty Ltd, The General Electric Company, Integrity Medical Systems, Inc., Radiology Oncology Systems, Inc., Rad Medical Associates, Siemens Healthineers AG, and Soma Technology, Inc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Product Type, Application, End-User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Philips Electronics Nederland B.V., Block Imaging, EverX Pty Ltd, The General Electric Company, Integrity Medical Systems, Inc., Radiology Oncology Systems, Inc., Rad Medical Associates, Siemens Healthineers AG, and Soma Technology, Inc.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Refurbished Medical Equipment Market to Reach USD 40.5 Billion by 2033, Impelled by Rising Need for Affordable Medical Equipment

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