How has the refurbished mri systems market evolved, and where is it heading next?
The refurbished mri systems market size has grown rapidly in recent years. It will grow from $0.77 billion in 2024 to $0.85 billion in 2025 at a compound annual growth rate (CAGR) of 10.7%. 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 $1.27 billion in 2029 at a compound annual growth rate (CAGR) of 10.4%. 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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What key drivers have fueled the refurbished mri systems market’s development over the years?
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 June 2024, according to Health Affairs, a US-based academic journal, the national healthcare expenditure in the U.S. is expected to rise from $4,799.3 billion in 2023 to $5,048.8 billion in 2024, indicating an increase of about $249.5 billion. Therefore, increasing demand for healthcare services is driving the growth of the refurbished MRI systems market.
What is the segmentation for the refurbished mri systems market?
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 Centers, Ambulatory Surgical Centers, Other End Users
Subsegments:
1) By Closed System: Superconducting MRI Systems, Permanent Magnet MRI Systems, Resistive Magnet MRI Systems
2) By Open System: Open-High Field MRI Systems, Open-Low Field MRI Systems
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Who are the most influential companies in the refurbished mri systems market?
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
What are the top industry trends projected to impact the refurbished mri systems market?
Major companies operating in the refurbished MRI systems market are increasing their focus on developing high-resolution imaging technologies, such as gradient technology, to gain a competitive advantage. Gradient technology in MRI is crucial for creating detailed images by generating controlled variations in the magnetic field. For instance, in March 2024, Arnica HealthTech, an India-based MRI system provider, introduced the Avanto Refurbished Siemens MRI Machine, offering high-quality medical imaging at an affordable price. Known for its superior image quality and patient-friendly design, the Avanto model features Tim technology for faster scans, Magnetom gradients for high-resolution imaging, and advanced applications such as diffusion-weighted and perfusion imaging. It also prioritizes patient comfort with a wide bore, noise reduction, and mood lighting for a more relaxing experience.
What are the major regional insights for the refurbished mri systems market, and which region holds the top position?
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.
What Does The Refurbished MRI Systems Market Report 2025 Offer?
The refurbished mri systems market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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.
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