Dublin, Nov. 18, 2024 (GLOBE NEWSWIRE) -- The "Pre-Owned Medical Devices - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Pre-Owned Medical Devices was estimated at US$6.8 Billion in 2023 and is projected to reach US$11.4 Billion by 2030, growing at a CAGR of 7.7% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The pre-owned medical devices market is gaining traction as healthcare providers seek cost-effective solutions to equip their facilities with essential medical equipment. Pre-owned devices, including imaging systems, surgical instruments, and diagnostic equipment, offer significant savings compared to new equipment, making them an attractive option for hospitals, clinics, and diagnostic centers.
These devices undergo rigorous refurbishment processes to ensure they meet the necessary safety and performance standards. The rising demand for healthcare services in developing countries, coupled with budget constraints, is driving the expansion of the pre-owned medical devices market, as facilities look for affordable ways to upgrade their capabilities.
How Are Technological Advances Impacting the Refurbishment of Pre-Owned Medical Devices?
Technological advancements in refurbishment and re-certification processes are improving the quality and reliability of pre-owned medical devices. Modern testing and calibration technologies ensure that refurbished devices meet the same operational standards as new ones, providing healthcare providers with confidence in their performance.
Additionally, advancements in software updates allow older medical devices to be upgraded with the latest technological features, extending their operational life and enhancing their functionality. These innovations are not only improving the quality of pre-owned devices but also making them more appealing to healthcare facilities seeking cost-effective solutions without compromising on quality.
What Are the Regulatory and Industry Trends Supporting the Pre-Owned Medical Devices Market?
Regulatory frameworks are playing a crucial role in shaping the pre-owned medical devices market by ensuring that refurbished equipment meets stringent safety and performance standards. In regions like North America and Europe, regulatory bodies have established guidelines for the refurbishment, testing, and certification of pre-owned devices, ensuring that they are safe for use in clinical settings.
Additionally, industry trends such as the increasing focus on sustainability and reducing electronic waste are supporting the growth of the market, as refurbishing and reusing medical devices helps reduce the environmental impact of healthcare operations. These regulatory and industry trends are fostering greater acceptance and demand for pre-owned medical devices.
The Growth in the Pre-Owned Medical Devices Market Is Driven by Several Factors
The growth in the pre-owned medical devices market is driven by several factors, including the rising demand for affordable healthcare solutions, particularly in developing regions where budget constraints limit access to new equipment. Technological advancements in refurbishment processes are improving the reliability and functionality of pre-owned devices, making them a viable alternative to new equipment.
Regulatory frameworks that ensure the safety and performance of refurbished devices are also contributing to market growth by building trust among healthcare providers. Additionally, the increasing focus on sustainability and reducing electronic waste is driving the adoption of pre-owned medical devices as a more environmentally responsible option in the healthcare industry.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Pre-Owned Medical Devices Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Pre-Owned Medical Devices Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Pre-Owned CT Machines segment, which is expected to reach US$3.6 Billion by 2030 with a CAGR of a 8.6%. The Pre-Owned MRI Machines segment is also set to grow at 7.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $1.9 Billion in 2023, and China, forecasted to grow at an impressive 12.4% CAGR to reach $2.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Pre-Owned Medical Devices Market such as Agito Medical A/S, GE Healthcare Ltd., Philips Healthcare, Siemens Healthcare GmbH, Soma Technology, Inc. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 194 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $6.8 Billion |
| Forecasted Market Value (USD) by 2030 | $11.4 Billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of COVID-19 and a Looming Global Recession
- Pre-Owned Medical Devices - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Growing Demand for Cost-Effective Healthcare Solutions
- Rising Popularity of Refurbished Medical Devices Among Small and Medium Hospitals
- Technological Advancements in Refurbishing Processes Ensuring Safety and Quality
- Increasing Focus on Sustainability and Reducing Medical Waste
- Expansion of Pre-Owned Devices in Emerging Markets With Budget Constraints
- Growing Adoption of Pre-Owned Imaging Devices, Especially in Developing Regions
- Impact of COVID-19 on Demand for Affordable Healthcare Solutions
- Opportunities in Leasing and Service-Based Models for Pre-Owned Devices
- Increasing Investment by Third-Party Refurbishers to Expand Market Reach
- Growing Acceptance of Pre-Owned Devices in Specialized Healthcare Facilities
FOCUS ON SELECT PLAYERS:Some of the 42 companies featured in this Global Pre-Owned Medical Devices market report include
- Agito Medical A/S
- GE Healthcare Ltd.
- Philips Healthcare
- Siemens Healthcare GmbH
- Soma Technology, Inc.
- Toshiba Medical Systems Corporation
For more information about this report visit https://www.researchandmarkets.com/r/aukpnd
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