Refurbished MRI Systems Market Industry Outlook, Growth And Trends, Share, Size, Top Key Players

Refurbished magnetic resonance imaging (MRI) systems refer to previously owned MRI machines that have undergone maintenance and upgrades to ensure optimal functionality. These systems are utilized for diagnostic imaging in medical facilities seeking cost-effective solutions for upgrading their imaging capabilities.

Sizing and Forecast
The refurbished MRI systems market size has grown rapidly in recent years. It will grow from $0.70 billion in 2023 to $0.77 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%.  The growth in the historic period can be attributed to the need for cost-effective solutions, limitations in healthcare budgets, rise in overall healthcare expenditures, increasing prevalence of chronic diseases, and demand for advanced diagnostic tools.

The refurbished MRI systems market size is expected to see rapid growth in the next few years. It will grow to $1.15 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%.  The growth in the forecast period can be attributed to rising demand for affordable medical devices, increasing awareness about healthcare benefits, expanding aging population demographics, government initiatives to improve healthcare, and efforts to improve healthcare access. Major trends in the forecast period include technological advancements in refurbishment processes, rising availability of certified pre-owned MRI systems, expansion of independent refurbishing companies, enhanced focus on sustainability and eco-friendly practices, and growth in online sales channels and platforms.

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Segmentation & Regional Insights
The refurbished mri systems market covered in this report is segmented –
1) By Architecture: Closed System, Open System
2) By Field Strength: Low Field Strength, Mid Field Strength, High Field Strength
3) By End Use: Hospitals, Imaging Centres, Ambulatory Surgical Centres, Other End Users

North America was the largest region in the refurbished MRI systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the refurbished mri systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The increasing demand for healthcare services is expected to propel the growth of the refurbished MRI systems market going forward. Healthcare services encompass a range of medical and wellness treatments, including preventive, diagnostic, therapeutic, and palliative care, provided to individuals to maintain or improve their health. Various factors behind the increasing demand for healthcare services include an aging population, the rising prevalence of chronic diseases, advances in medical technology, and expanded healthcare access. Refurbished MRI systems play a role in meeting the increasing demand for healthcare services by providing cost-effective, high-quality imaging solutions that enhance diagnostic capabilities and accessibility. For instance, in May 2023, according to a report published by the Office for National Statistics, a UK-based government department, between 2020 and 2021, healthcare spending in the UK increased by 9.4% in nominal terms and 9.7% in real terms. Furthermore, spending on preventive care was $45.72 billion in 2021, more than doubling from 2020. Therefore, increasing demand for healthcare services drives the refurbished MRI systems market.

Key Industry Players
Major companies operating in the refurbished mri systems market are Hitachi Ltd., Siemens Healthineers, Koninklijke Philips N.V., GE Healthcare, Hologic Inc., Canon Medical Systems Corporation, Shimadzu Corporation, Onex Corporation (Carestream Health), Cameco Corp., Barco N.V., First Source Inc., Oxford Instruments Healthcare, Esaote SpA, Nordion Inc., Block Imaging International Inc., Meridian Leasing, Radio Oncology Systems Inc., Soma Technology Inc., Amber Diagnostics, Innovative Imaging Technologies, Avante Health Solutions, Integrity Medical Systems Inc., LBN Medical, DirectMed Parts & Service LLC, EverX Pty Ltd., Atlantis Worldwide LLC, BMI Biomedical International, TRACO Medical, Tekyard Medical

The refurbished mri systems market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
……….
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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