The global refurnished medical equipment market is growing significantly due to increasing privatization of healthcare sector and up surging number of hospital and diagnostic centers. The massive unexplored market in the refurnished medical equipment industry of the developing economies is creating abundant growth opportunities, for the refurnished medical equipment market.
The increasing interest of original equipment manufacturer (OEM) in the refurnished equipment industry, promotion of environment friendly refurnishing program, up surging number of service offering and growing demand for electromechanical refurbishment are some of the trends witnessed in the global refurnished medical equipment market.
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On the basis of product, the refurnished medical equipment market can be categorized as operating room and surgical equipment, patient monitors, medical imaging equipment, cardiovascular and cardiology equipment, endoscopy equipment, medical imaging equipment, IV therapy systems, neurology equipment, intensive care systems, neonatal intensive care equipment and others. The operating room and surgical equipment are further segmented as anesthesia machine, microscopes, electrosurgical units and other operating and surgical equipment. The Patient monitors are further segmented as pulse oximeters, multi-parameter monitors, electrocardiography (ECG) devices and non-invasive blood pressure monitors.
Further, the medical imaging equipment is segmented as ultrasound systems, magnetic resonance imaging (MRI) machines, x-ray machine, computed tomography (CT) scanner, nuclear imaging systems and other medical imaging equipment. Cardiovascular and cardiology equipment are further segmented as coagulation analyzers, heart-lung machine, and other cardiovascular and cardiology equipment. The neurology equipment is further segmented as EEG machine and EMG machine. And the neonatal intensive care equipment is further segmented as monitors, and infant incubators and warmers.
Some of the factors driving the growth of the global refurnished medical equipment market are increasing demand for refurnished medical devices in the private healthcare sector, cost containment pressure on healthcare organizations, substantial supply of old medical devices for refurbishment, online market place stimulating sales and environment friendliness of reimbursement. In addition, the growing geriatric population, increasing prevalence of various chronic diseases, increasing number of diagnostic imaging procedures and refining healthcare infrastructure in developing countries are also expected to drive the growth of the global refurnished medical equipment market. However, the lack of awareness, lack of standardization, stringent regulations and reluctance to purchase refurnished devices are some of the factors, restraining the growth of the global refurnished medical equipment market.
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Some of the companies operating in the global refurnished medical equipment market are Koninklijke Philips N.V., Radiology Oncology Systems Inc., Siemens Healthcare, AGITO Medical A/S, DRE Medical Inc., Integrity Medical Systems Inc., General Electric Company, Blocking Imaging International Inc. and SOMA Technology Inc.
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