Refurbished medical imaging devices refer to pre-owned medical imaging equipment that has been restored to a condition that meets manufacturer specifications or industry standards for quality and performance. These devices are utilized to optimize asset utilization, improve efficiency, and cost-effectively provide high-quality patient care.
Sizing and Forecast
The refurbished medical imaging devices market size has grown strongly in recent years. It will grow from $5.76 billion in 2023 to $6.34 billion in 2024 at a compound annual growth rate (CAGR) of 10%. The growth in the historic period can be attributed to healthcare reimbursement policies, clinical needs and demands, vendor support, and services, patient safety and quality of care, and vendor dynamics and service quality.
The refurbished medical imaging devices market size is expected to see strong growth in the next few years. It will grow to $9.33 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to growing healthcare infrastructure, growing obsolescence, increasing demand for diagnostic services, demand for specialized imaging modalities and replacement cycles. Major trends in the forecast period include enhanced connectivity and interoperability, portable and point-of-care solutions, focus on cost-effectiveness and sustainability, upgradability and modularity, and compliance and quality assurance.
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Segmentation & Regional Insights
The refurbished medical imaging devices market covered in this report is segmented –
1) By Product: X-Ray Machines, Magnetic Resonance Imaging (MRI) Systems, Ultrasound Systems, Computed Tomography Scanners, Nuclear Imaging Systems, Other Products
2) By Application: Diagnostic, Therapeutic
3) By End Users: Hospitals, Clinics, Diagnostic Centers, Other End Users
North America was the largest region in the refurbished medical imaging devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the refurbished medical imaging devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing number of diagnostic imaging procedures is expected to propel the growth of the refurbished medical imaging device market going forward. Diagnostic imaging procedures refer to a variety of medical techniques used to visualize the internal structures of the body for diagnostic purposes. The increasing adoption of preventive healthcare measures is leading to a rise in diagnostic imaging procedures, facilitating early detection and treatment of medical conditions. Refurbished medical machines are commonly used for various diagnostic purposes, including detecting fractures, examining the chest for lung conditions, and assessing the abdomen for abnormalities. For instance, in December 2023, according to a report published by the Canadian Agency for Drugs and Technologies in Health, a Canada-based professional non-profit organization, the number of magnetic resonance imaging (MRI) units available in all provinces and one territory saw a significant rise of 30.8%, increasing from 308 units in 2021 to 403 units in 2022. Additionally, according to a survey conducted on 56 Canadian privately owned imaging facilities by Canadian Agency for Drugs and Technologies in Health, a Canada-based government office, the average number of magnetic resonance imaging (MRI) scans, a type of diagnostic imaging procedures, conducted at a single private facility in Canada was 4,703, with figures ranging from 531 to 12,194 in 2021 to 2022, which rose to 5,178, with the range extending from 569 to 12,389 scans. Therefore, the increasing number of diagnostic imaging procedures is driving the growth of the refurbished medical imaging device market.
Key Industry Players
Major companies operating in the refurbished medical imaging devices market are Hitachi Ltd., Toshiba Medical Systems Corporation, Siemens Healthineers AG, Koninklijke Philips N.V., Stryker Corporation, General Electric Healthcare LLC, Hologic Inc., Carestream Health Inc., Canon Medical Systems Corporation, TTG Imaging Solutions Inc., Block Imaging International Inc., Avante Health Solutions LLC, Shared Imaging LLC, DRE Medical Inc, Dunlee, Soma Technology Inc., Amber Diagnostics Inc., Radiology Oncology Systems Inc., EverX Pty Ltd, Nationwide Imaging Services Inc., Atlantis Worldwide LLC, DirectMed Imaging, Integrity Medical Systems Inc.
The refurbished medical imaging devices market report table of contents includes:
1. Executive Summary
- Refurbished Medical Imaging Devices Market Characteristics
- Refurbished Medical Imaging Devices Market Trends And Strategies
- Refurbished Medical Imaging Devices Market – Macro Economic Scenario
- Global Refurbished Medical Imaging Devices Market Size and Growth
.
- Global Refurbished Medical Imaging Devices Market Competitive Benchmarking
- Global Refurbished Medical Imaging Devices Market Competitive Dashboard
- Key Mergers And Acquisitions In The Refurbished Medical Imaging Devices Market
- Refurbished Medical Imaging Devices Market Future Outlook and Potential Analysis
- Appendix
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