A latest report from Absolute Markets Insights covers insights into the global Medical Device Refurbishment market. This comprehensive report offers insights into the market, models and drivers of business growth. Also includes Medical Device Refurbishment market share, sales volume and education charts. Research analysts have combined important and additional information, such as commitments from market leaders, into a well-crafted report. This report is an essential insight into strategies and information and is primarily aimed at business leaders. The main objective of this Medical Device Refurbishment report is to provide industry knowledge and help our clients achieve natural growth in their respective fields. The Medical Device Refurbishment report also shows a new uptrend that includes market conditions and market forecast 2022-2030.
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Some of the major players operating in the global Medical Device Refurbishment market include: Avante Health Solutions, Block Imaging, Edge Medical Solutions Private Limited, EverX Pty Ltd, fair-medical Inc, FlexRay Medical, Future Health Concepts, GENERAL ELECTRIC COMPANY, Hilditch Group Ltd, Integrity Medical Systems, Inc., Koninklijke Philips N.V., Master Medical Equipment, Meridian Medical Inc., Nationwide Imaging Services, Pacific Healthcare Imaging, PrimedeQ, Radiology Oncology Systems, Sanrad Medical Systems, SOMA TECH INTL, The Siemens Healthineers company, US Med-Equip, Inc., Venture Medical ReQuip., amongst others.
In terms of revenue, global medical device refurbishment market was valued at US$ 11114.64 Mn in 2022 and is anticipated to grow at a CAGR 11.32% over the forecast period.
The competitive landscape of the market study contains a broader analysis of the regions including North America, Europe, Asia-Pacific, Middle East and Africa, Latin America, which are expected to capture the essence of the market in its broadest category. The list encompasses significant players who manage the sector based on the system’s overall production capabilities, environmental contributions, appropriate channels, and territorial proximity through a system of primary and secondary research methodologies followed by an in-house analytical model. Furthermore, the generated income and a generalized market share for the market is presented with the help of graphs, charts and tables.
Furthermore, the report also contains important collaborations, mergers and acquisitions, key market trends and business policies are evaluated. The study contains primary and secondary information pertaining to the Medical Device Refurbishment Market in terms of its global status, market size, growth forecasts, trends, segments, and a detailed forecast.
Key insights from the report:
- The report provides key statistics on the market status of Medical Device Refurbishment Manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
- The report provides a basic overview of the industry, including its definition, applications and manufacturing technology.
- The report features the company profile, product specifications, capacity, production value and market share 2022-2030 for the top vendors.
- The total market is further divided by company, by country and by application/type for the analysis of the competitive landscape.
- The report then estimates the 2022-2030 market development trends of the P2P Loans industry.
- Analysis of upstream raw materials, downstream demand and current market dynamics is also performed.
- The report makes some important proposals for a new project of Medical Device Refurbishment Market before evaluating its feasibility.
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Covid-19 cumulative impact:
This study presents insights into COVID-19 on consumer behavior and changes in demand, purchasing patterns, supply chain reorganization, dynamics of market forces, and substantial government involvement. The new research provides insights, analysis, estimates and predictions in light of the effect of COVID-19 on markets. The Medical Device Refurbishment Market report provides a solid observation on the prominent players in terms of strategic analysis, micro and macro market trends and opportunities, pricing trends, and a generalized overview of the market. The Medical Device Refurbishment Market is a detailed study packed with primary and secondary market factors, market share, leading segments and a proper geographic analysis.
Key questions answered in this report:
- What will the market size and growth rate be in 2030?
- What are the key drivers of the global market?
- What are the key market trends impacting the growth of the global market?
- What are the market growth challenges?
- Who are the key vendors in the global market?
- What are the global market opportunities and challenges for sellers?
- What are the key findings of the global five-point analysis of the Medical Device Refurbishment market?
The healthcare industry has seen remarkable progress in recent years. Government bodies around the globe are prioritising on providing quality healthcare facilities to their citizens through investments in healthcare. The advancement in medical device manufacturing technology has enabled faster diagnosis and treatment of various health conditions, and countless lives are being saved each year through the use of these devices. However, facilities such as healthcare clinics and hospitals need to invest heavily for procuring these devices. Budgetary constraints amongst the end-users often hinder the procurement of advanced medical devices. But, with the arrival of refurbished medical devices, which have been quality tested and approved for medical use, the end-users can considerably reduce the capital spending. Refurbished medical equipment or devices are fully tested, calibrated, cleaned, and upgraded ( optional) medical equipment which had considerable faults that made it unfit for professional use. These devices are being increasingly used in clinics and hospitals which have budgetary constraints, m refurbished devices are significantly less expensive as compared to new medical devices. These factors are leading to the growth of the global medical device refurbishment market.
The COVID-19 pandemic has had a significant impact on the healthcare industry globally. Countries are increasingly trying to tackle the growth in COVID-19 infections. Business operations have seen a massive hit due to the pandemic. Temporary health clinics and welfare centers are being set up in numerous countries to cater to the growing number of COVID-19 patients. There has been a considerable spike in the procurement of refurbished medical devices to meet the shortage of new and functioning medical devices globally, especially in underdeveloped and developing economies. The lesser costs associated with refurbished medical devices make it affordable for lower income countries to procure them with ease. Faster shipping speeds offered by the refurbished medical device providers has also helped in increasing the adoption of these devices across the globe. In April 2019, Co-Vents, for instance, were seeking decommissioned critical care ventilators from brands such as Puritan Bennett, Respironics and CareFusion for refurbishment inorder to meet the rising demand for ventilators in the U.S. due to the Coronavirus crisis. The organization was seeking to supply over 1000 ventilators in a span of 60 days.
They received numerous enquiries regarding the availability of refurbished ventilators from both private and public healthcare bodies. Studies show that there were thousands of unused and out-of-service ventilators which remained idle in hospitals and warehouses spread across the U.S. The shortage of ventilators in the government stockpile is also aiding in the growth of the refurbished ventilators market. The California state department collaborated with Bloom Energy for refurbishing of ventilators which were not fit for immediate use. The refurbishing of the ventilators could be performed in under five hours, thereby helping in faster supply of refurbished ventilators in California. Therefore, the COVID-19 pandemic is expected to have a positive impact on the global medical device refurbishment market in the coming years.
Global Medical Device Refurbishment Market Segmentation:
Medical Device Refurbishment Market By Offering (Products (Therapeutic, Diagnostic), Services); By Organization Size (Small And Medium Organizations, Large Organizations); By End-User (Clinics And Diagnostic Centers, Nursing Homes And Assisted Living, General Medical And Surgical Hospitals, Specialty Hospitals, Emergency And Other Outpatient Care Centers, Others); By Application (Operating Room Equipment And Surgical Equipment, Medical Imaging Equipment (CT Scanners, MRI Scanners, X-Ray Machines, Fluoroscopy, Echocardiography, Ultrasound, PET, Others), Patient Monitors (Multi-Parameter Monitors, Fetal Monitors, ECG Monitors, Pulse Monitors , Blood Pressure Monitors, Others), Cardiovascular And Cardiology Equipment (Defibrillators, Ventricular Assist Devices (VADs), Infusion Pumps, Heart-Lung Bypass, Stress Test Systems, Others), Neurology Equipment (EEG, EMG, Others), Endoscopy And Colonoscopy Equipment, Intensive Care Unit Equipment (Neonatal Intensive Care Units Equipment, Ventilators, Dialysis Equipment, ICU Bedside Monitors, Others),IV Therapy Systems, Probes And Coils, Others); By Region (U.S., Canada, Mexico, Rest Of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest Of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest Of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest Of Middle East & Africa, Brazil, Argentina, Rest Of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends And Forecast, 2022-2030
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