Refurbished Medical Devices: Technologies and Global Markets

NEW YORK, Nov. 1, 2022 /PRNewswire/ --

Report Scope:
This report incorporates an in-depth analysis of the refurbished medical device market, including market estimates and trends through 2020.Major players, competitive intelligence, market dynamics and regional opportunities are discussed in detail.

Read the full report: https://www.reportlinker.com/p06359256/?utm_source=PRN

The report examines recent developments and product portfolios of major players. The report presents a market analysis and estimates the compound annual growth rate (CAGR) for refurbished medical devices.

The scope of the report extends to only those medical device technologies that can be refurbished and generate the most revenues. Devices that cannot be refurbished and are recycled, and other small surgical instruments that are refurbished, are outside the scope of this report.

This report segments the global market by these geographic regions: North America, Europe, Asia and the Rest of the World. For market estimates, data is provided for 2020 as the base year, 2021, and forecast through year-end 2027.

Report Includes:
- 56 data tables and 25 additional tables
- A comprehensive overview and up-to-date analysis of the current and future global markets for refurbished medical devices/instruments
- Analyses of the global market trends, with market revenue data for 2021, estimates for 2022 and 2023, and projections of compound annual growth rates (CAGRs) through 2027
- Market outlook and estimation of the actual market size for refurbished medical devices, revenue forecast, and corresponding market share analysis based on device type, application, and region
- Highlights of the current state and future market potential of refurbished instruments, along with a detailed analysis of the competitive environment
- Identification of the key growth driving factors and constraints that will shape the market for refurbished medical devices as the basis for projecting demand over the next five years (2022-2027)
- Coverage of regulations and guidelines on refurbished devices followed in the U.S and Europe
- Holistic review of the impact of COVID-19 on refurbished instruments, with pandemic implications on the demand and supply, pricing analysis, and various government strategic decisions to boost the marketplace
- Analysis of the vendor landscape for refurbished medical devices market, and company value share analysis based on their segmental revenues
- Company profiles of major players within the industry, including Canon Medical Systems Corp., GE Healthcare, Koninklijke Philips NV and Siemens Healthineers

Summary:
The global market for refurbished medical devices was nearly $REDACTED billion in 2021, and is forecast to reach $REDACTED billion by the end of 2027, at a CAGR of REDACTED%.

Major factors driving the market include cost benefits provided by the refurbished devices, the growing elderly population in many countries, declining healthcare margins and expenditures, and environmental advantages. Challenges in the market include the lack of uniform regulations, and restrictions in the Indian and Chinese markets.

The COVID-19 pandemic’s impact on the global economy cannot be ignored.Lockdowns and the cessation of many non-essential medical treatments had a negative impact on the revenues of makes of refurbished medical devices.

The industry is slowly rebounding from the impact, and the market for refurbished medical devices is expected to grow at a steady pace during the forecast period.

The circular economy is a major consideration by many of the top original equipment manufacturers (OEMs) such as Philips Healthcare and GE Healthcare, for their increased focus on the refurbished devices. Environmentally conscious end users also prefer refurbished systems.

Read the full report: https://www.reportlinker.com/p06359256/?utm_source=PRN

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