Pre-Owned Medical Devices Market

Market Overview:

The global pre-owned medical devices market size reached US$ 7.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.4 Billion by 2032, exhibiting a growth rate (CAGR) of 9.89% during 2024-2032. The increasing demand for remote patient monitoring (RPM), rising product adoption in rural areas, and the growing number of private hospitals represent some of the key factors driving the market.

Pre-owned medical devices, also known as refurbished medical equipment, refer to medical equipment that has been previously owned and used by individuals or healthcare facilities. They comprise oximeters, ventilators, x-ray machines, computed tomography (CT) scanners, ultrasound, and magnetic resonance imaging (MRI) machines, stress test systems, anesthesia machines, spirometers, and other surgical equipment. They are utilized at laboratories to perform various tests and diagnose conditions. They can also be used at home to provide health monitoring and support individuals recovering from illness or injuries. They are generally sold by third party vendors and cost effective as compared to new medical devices.

Pre-Owned Medical Devices Market Trends:

There is an increase in the demand for remote patient monitoring (RPM) solutions on account of the surging prevalence of chronic, lifestyle diseases, and viral infections, such as cardiovascular diseases (CVD) and diabetes, cancer, chronic obstructive pulmonary disease (COPD), arthritis, and depression among individuals. This, coupled with the rising health awareness among individuals and the growing aging population, which is more prone to these ailments, represents one of the major factors driving the demand for pre-owned medical devices around the world. Moreover, the increasing adoption of pre-owned medical devices in the hospitals and clinics of rural areas to make medical equipment more accessible to patients and promote environmental sustainability is favoring the growth of the market. In addition, several initiatives are being undertaken by governing agencies of numerous countries to encourage the adoption of pre-owned medical devices among healthcare providers and institutions to improve public health and reduce medical waste generated. Apart from this, the expanding number of private hospitals, clinics, and diagnostic centers is catalyzing the demand for pre-owned medical devices worldwide. Furthermore, the rising public awareness about a shortage in the number of medical devices is contributing to the market growth. Besides this, the advent of advanced data management systems to track the pre-owned medical devices history, usage, and performance for ensuring that these devices are properly maintained and improve the quality is creating a positive outlook for the market. Additionally, significant improvement in the healthcare facilities is anticipated to propel the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global pre-owned medical devices market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on type and end user.

Type Insights:

• X-ray
• Mammography Machines
• CT Machines
• MRI Machines
• Ultrasound Machines
• Nuclear Imaging and Medicine Devices
• C-arm Devices
   

The report has provided a detailed breakup and analysis of the pre-owned medical devices market based on the type. This includes X-ray, mammography machines, CT machines, MRI machines, ultrasound machines, nuclear imaging and medicine devices, and C-arm devices. According to the report, CT machines represented the largest segment.

End User Insights:

• Hospitals
• Clinics
   

A detailed breakup and analysis of the pre-owned medical devices market based on the end user has also been provided in the report. This includes hospitals and clinics.  According to the report, hospitals accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for pre-owned medical devices. Some of the factors driving the North America pre-owned medical devices market included the growing aging population, well established healthcare infrastructure, rising public awareness, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global pre-owned medical devices market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Advanced Ultrasound Systems, Block Imaging International Inc., Canon Medical Systems Corporation (Canon Inc.), EverX Pty Ltd, GE HealthCare Technologies Inc (General Electric Company), Integrity Medical Systems Inc., Koninklijke Philips N.V., Probo Medical LLC, Siemens Healthineers AG (Siemens AG), Soma Tech Intl, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global pre-owned medical devices market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global pre-owned medical devices market?
• What is the impact of each driver, restraint, and opportunity on the global pre-owned medical devices market?
• What are the key regional markets?
• Which countries represent the most attractive pre-owned medical devices market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the pre-owned medical devices market?
• What is the breakup of the market based on the end user?
• Which is the most attractive end user in the pre-owned medical devices market?
• What is the competitive structure of the global pre-owned medical devices market?     
• Who are the key players/companies in the global pre-owned medical devices market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the pre-owned medical devices market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global pre-owned medical devices market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the pre-owned medical devices industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.