Refurbished Medical Equipment Market Forecasts to 2032 – Global Analysis By Product (Medical Imaging Systems, Operating Equipment and Surgical Devices and Other Products), Component, Application, End User, and By Geography

According to Stratistics MRC, the Global Refurbished Medical Equipment Market is accounted for $18.8 billion in 2025 and is expected to reach $33.5 billion by 2032 growing at a CAGR of 8.6% during the forecast period. Refurbished medical equipment refers to used medical devices, such as MRI machines, ventilators, or ultrasound systems, that are restored to full functionality. The process involves thorough inspection, repair, calibration, and testing to meet original manufacturer standards. These devices are cleaned, upgraded, and certified for safe clinical use, offering cost-effective solutions for healthcare facilities while maintaining performance and reliability.

According to the data published by the American Hospital Association in 2022, there are about 6,093 hospitals in the U.S.

Market Dynamics:

Driver:

Increasing demand in developing regions

Increasing demand in developing regions is a significant driver for the refurbished medical equipment market. Developing countries often face budgetary constraints and limited healthcare infrastructure, making new medical equipment prohibitively expensive. The growing healthcare awareness and rising prevalence of chronic diseases in these areas further fuel the demand for affordable solutions. This push for accessible healthcare solutions creates a robust market for reconditioned devices. Fueled by the need for affordable healthcare, developing regions are driving this market.

Restraint:

Limited warranty periods

Limited warranty periods present a notable restraint for the refurbished medical equipment market. Compared to new equipment, refurbished devices typically come with shorter warranty periods, which can raise concerns about long-term reliability and maintenance costs. This shorter guarantee period can affect consumer confidence and influence purchasing decisions. Ensuring extended warranty options or comprehensive service agreements could mitigate this restraint. Backed by concerns over long-term reliability, limited warranties impact buyer confidence.

Opportunity:

Technological upgrades in refurbishment

Technological upgrades in refurbishment represent a significant opportunity for the refurbished medical equipment market. Refurbishment processes are becoming more sophisticated, allowing for not just repair but also the incorporation of newer software and hardware components. Innovations in diagnostic and calibration tools enhance the quality and reliability of refurbished products. As refurbishment techniques advance, the appeal and competitiveness of these products increase. Propelled by continuous improvement in reconditioning processes, this opportunity enhances market value.

Threat:

Competition from new equipment

Competition from new equipment poses a substantial threat to the refurbished medical equipment market. Manufacturers of new equipment constantly introduce technologically advanced models with enhanced features, improved efficiency, and longer warranties, which can attract buyers with higher budgets. The perception of new equipment offering superior performance and fewer risks can also sway purchasing decisions. This continuous innovation in new product development creates a competitive landscape. Influenced by the allure of cutting-edge technology, new equipment provides strong competition.

Covid-19 Impact:

The COVID-19 pandemic had a mixed impact on the refurbished medical equipment market. Initially, there was a surge in demand for critical care equipment like ventilators and patient monitors, which could be quickly sourced through refurbishment. The need to equip temporary healthcare facilities efficiently also boosted the market. Triggered by the urgent need for medical devices, the pandemic underscored the value of refurbished equipment.

The medical imaging systems segment is expected to be the largest during the forecast period

The medical imaging systems segment is expected to account for the largest market share during the forecast period, due to the high cost of new imaging equipment, such as MRI machines, CT scanners, and X-ray systems, making refurbished alternatives highly attractive. These systems are essential for diagnosis and treatment across various medical specialties. The continuous upgrade cycles of new imaging technologies create a steady supply of high-quality used equipment for refurbishment. The demand for advanced diagnostic capabilities in healthcare facilities globally underpins this segment's leading position. Guided by the significant cost savings on vital diagnostics, this segment remains paramount.

The cardiology segment is expected to have the highest CAGR during the forecast period

Over the forecast period, the cardiology segment is predicted to witness the highest growth rate, driven by the increasing global burden of cardiovascular diseases, which necessitates a growing demand for diagnostic and interventional cardiology equipment. Refurbished ultrasound systems, ECG machines, and cardiac monitors offer cost-effective solutions for clinics and hospitals. The focus on early detection and management of heart conditions across developing regions further fuels this demand. As healthcare infrastructure expands, the need for specialized cardiology equipment intensifies. Spurred by the rising incidence of heart disease, this segment is charting significant growth.

Region with largest share:

During the forecast period, the Asia Pacific region is expected to hold the largest market share, driven by the large and growing population, increasing healthcare expenditure, and the expansion of healthcare infrastructure in countries like China and India. The strong demand for affordable medical solutions due to budget constraints in many healthcare facilities further fuels this market. Additionally, the rising prevalence of chronic diseases and improving access to healthcare services contribute to its market leadership. Backed by extensive healthcare needs and investment, the Asia Pacific region secures its leading market position.

Region with highest CAGR:

Over the forecast period, the North America region is anticipated to exhibit the highest CAGR, primarily fuelled by a well-established refurbishment industry, stringent quality standards, and a strong emphasis on sustainability. The region's high healthcare expenditure and the continuous upgrading of medical technology create a steady supply and demand for refurbished equipment. Furthermore, the presence of major refurbishes and the increasing acceptance of reconditioned devices by healthcare providers contribute to its rapid expansion. Motivated by a focus on cost-efficiency and sustainability, North America is poised for robust growth in this market

Key players in the market

Some of the key players in Refurbished Medical Equipment Market include GE Healthcare, Koninklijke Philips N.V., Siemens Healthineers, Canon Medical Systems Corporation, Stryker Corporation, Medtronic PLC, Johnson & Johnson, Baxter International, Inc., Becton, Dickinson and Company (BD), Drägerwerk AG & Co. KGaA, Mindray Medical International, Nihon Kohden Corporation, Avante Health Solutions, Soma Technology, Inc., Block Imaging International, Inc., Integrity Medical Systems, Inc., Everx Pvt. Ltd., and Radiology Oncology Systems, Inc.

Key Developments:

In May 2025, GE Healthcare expanded its refurbishment program for MRI and CT scanners, integrating AI-based diagnostics. The upgraded systems offer cost-effective solutions for hospitals in developing regions, ensuring high performance and regulatory compliance.

In April 2025, Siemens Healthineers launched a refurbished cardiology equipment line, including ECG and ultrasound systems. Enhanced with modern software, these systems provide affordable, high-quality solutions for cardiovascular care in budget-constrained markets.

In February 2025, Canon Medical Systems Corporation released a refurbished ultrasound line with advanced imaging capabilities. Designed for cost-sensitive markets, the systems offer improved diagnostics and reliability, supporting global healthcare access.

Products Covered:
• Medical Imaging Systems
• Operating Equipment and Surgical Devices
• Other Products

Types Covered:
• Sensors
• Probes and Analyzers
• Software and Services

Components Covered:
• Complete Equipment
• Spare Parts
• Accessories

Applications Covered:
• Cardiology
• Oncology
• Orthopedics
• Neurology
• Other Applications

End Users Covered:
• Hospitals
• Ambulatory Surgical Centers
• Clinics
• Diagnostic Centers
• Nursing Homes
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements