About Refurbished Medical Imaging Equipment
A refurbished equipment is a repaired or refined version of an old equipment, produced by restoring the devices to original condition without altering any of the product's specifications. In the refurbishment process, the equipment undergoes changes such as decontamination, repair, replacement of worn parts, software upgrade, full cosmetic rehabilitation, calibration, and other procedures that are required to match the specifications of the original equipment manufacturer (OEM).
Technavio’s analysts forecast the global refurbished medical imaging equipment market to grow at a CAGR of 8.09% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global refurbished medical imaging equipment market for 2017-2021. To calculate the market size, the report considers sales and volume.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Refurbished Medical Imaging Equipment Market 2017-2021
Technavio recognizes the following companies as the key players in the global refurbished medical imaging equipment market: Atlantis Worldwide, Block Imaging, GE Healthcare, Philips Healthcare, Siemens Healthineers, and Toshiba Medical Systems.
Other Prominent Vendors in the market are: AGITO MEDICAL, DRE Medical, Everx, Hitachi Medical, Integrity Medical Systems, Radiology Oncology Systems, and Soma Technology.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing adoption of eco-friendly practices. Refurbishment of used or pre-owned medical equipment helps to save energy and resources while preventing unnecessary waste and allowing better access to affordable quality equipment. Exposure to medical device waste can also cause cancer and other serious health issues.”
According to the report, one driver in the market is increasing demand for cost-effective and efficient medical imaging devices. Most of the global population does not have access to quality healthcare services, especially in the developing countries. High R&D and manufacturing costs are involved in the design and development of new advanced medical imaging equipment. Hence, new medical imaging equipment is highly expensive. The cost burden will be more when coupled with the installation and maintenance charges for the equipment, making them unaffordable for many hospitals and diagnostic centers due to budget constraints.
Further, the report states that one challenge in the market is negative perception of end-users about refurbished medical equipment. Many large hospitals and physicians do not take the risk of buying refurbished medical devices due to the negative perception of their quality and durability, and fear on vendor unreliability. In some cases, the OEMs restrict the hospitals from purchasing refurbished equipment, by warning them that they will not support older models. Moreover, concerns over the low resale value of the refurbished equipment impede their adoption by end-users. Furthermore, the negative outlook of the physicians, patients, and public institutes toward refurbished medical imaging equipment is a major factor limiting the growth of this market.
Atlantis Worldwide, Block Imaging, GE Healthcare, Philips Healthcare, Siemens Healthineers, Toshiba Medical Systems, AGITO MEDICAL, DRE Medical, Everx, Hitachi Medical, Integrity Medical Systems, Radiology Oncology Systems, and Soma Technology.
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