Medical Equipment Industry Overview

Anesthesia And Respiratory Devices Market Definition

Anatomic Pathology Equipment And Consumables Market Definition

Neurology Devices Market Definition

The refurbished medical equipment market consists of sales of refurbished medical equipment by entities (organizations, sole traders, and partnerships) that manufacture refurbished medical equipment which is used after refurbishing, restoring, and installed without changing the intended use of the first device and replacement of worn parts. These devices are checked and tested by the quality control department and they are commonly refurbished to have long-use periods. The main types of refurbished medical equipment are medical imaging equipment, operating room & surgical equipment, patient monitors, cardiology equipment, urology equipment, neurology equipment, intensive care equipment, endoscopy equipment, IV therapy systems, others. Medical imaging equipment is used to view the human body to diagnose, monitor, and treat medical conditions. Ultrasound systems, X-ray machines, MRI machines, and CT Scanners are a few examples of medical imaging equipment. The operating room and surgical equipment are used for performing surgeries in operating rooms which include a wide range of handheld, portable and fixed equipment or devices such as anesthesia devices, electrosurgical devices, surgical imaging devices and others. Patient monitors are used to measure, record, distribute and display combinations of biometric values such as heart rate, SPO2, blood pressure, temperature and more. Cardiology equipment are used for analyzing heart-related parameters, which include ECG machines, Bedside Monitor, Multi Para Monitors, Central Nursing Station and others. Urology equipment are used for examining the urinary tract (kidneys, ureters, bladder and urethra). Neurology equipment are used for examining preventing, and treating a variety of neurological disorders and conditions. Intensive care equipment are used to monitor the patient and/or help treat their illness. Endoscopy equipment are used to diagnose the stricture of hollow organs of the body such as colon, esophagus, and stomach. IV therapy systems are used for delivering fluids, medications and nutrition directly into a person's vein for immediate absorption and use by the body. The refurbished medical equipment is used in diagnostic and therapeutic areas. Various users of refurbished medical equipment include hospitals, ambulatory care centers, diagnostic imaging centers, others. The global refurbished medical equipment market is expected to grow from $10.77 billion in 2020 to $12.52 billion in 2021 at a compound annual growth rate (CAGR) of 16.29%. The growth in the refurbished medical equipment market is mainly due to healthcare organizations preferring for cost cutting measures. Refurbished equipment require a lower upfront capital investment, thus allowing healthcare providers to offer services at affordable costs. The market is expected to reach $20.28 billion in 2025 at a CAGR of 12.8%. The increasing prevalence of cancer and cardiovascular diseases contributed to the growth of the refurbished medical equipment market. For instance, according to GLOBOCAN 2020: New Global Cancer Data released by the International Agency for Research on Cancer (IARC), the global cancer burden had increased to 19.3 million cases and 10 million cancer deaths in 2020. Additionally, according to the World Heart Federation 2019, cardiovascular disease is responsible for 17.9 million deaths every year. Refurbished medical equipment is used for screening, diagnosis, staging, and follow-up of many diseases including several cancers, cardiovascular disorders, and others. Thus, the rising prevalence of cancer and cardiovascular diseases was a major factor driving the refurbished medical equipment market’s growth. Major companies are undertaking strategic alliances to maintain their strong foothold in the refurbished medical equipment market. For instance, in October 2020, Intalere Inc., a US-based company that provides solutions such as clinical, operational, and financial for healthcare organizations, has announced a new agreement with Avante Health Solutions. By this agreement, the Intalere members can get negotiated prices on Avante Health solutions' refurbished medical imaging equipment such as CT, MRI, ultrasound, and on-site repair services, and inventory of replacement parts. Intalere members can also access Avante Health Solutions’ library of technical support as well as clinical training videos. Avante Health Solutions is a US-based provider of surgical, diagnostic imaging, and radiation oncology equipment. In April 2019, US Med-Equip, a US-based medical equipment company that offers medical equipment rentals, sale, and asset management of movable medical equipment acquired Medical Support Products Inc. for an undisclosed amount. With this acquisition, US Med-Equip will accelerate its national expansion and support capability to provide services to a larger footprint of hospital providers. The Medical support products acquisition denotes a proposed $100 million investment over the next five years in the growing movable medical equipment portfolio of US Med-Equip. Medical Support Products, Inc. is a US-based company that is engaged in providing consumers with respiratory equipment and services. Major players in the refurbished medical equipment market are GE Healthcare, Siemens Healthineers AG, Koninklijke Philips N.V, Integrity Medical Systems Inc., Soma Technology, Radio Oncology Systems Inc., Everx Pvt. Ltd, Canon Medical Systems Corporation, Hilditch Group, Block Imaging International Inc., Master Medical Equipment, FlexrayMedical ApS, Rhombus Medical Equipment LLC, and US Medical Systems LLC. North America was the largest region in the refurbished medical equipment market in 2020. Asia Pacific is predicted to record the fastest growth over the forecast period. The regions covered in the refurbished medical equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the refurbished medical equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global refurbished medical equipment market is segmented - 1) By Product: Medical Imaging Equipment, Operating Room & Surgical Equipment, Patient Monitors, Cardiology Equipment, Urology Equipment, Neurology Equipment, Intensive Care Equipment, Endoscopy Equipment, IV Therapy Systems, Others 2) By Application: Diagnostic, Therapeutic 3) By End User: Hospitals, Ambulatory Care Centers, Diagnostic Imaging Centers, Others

The breast pumps market consists of sales of breast pumps by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing breast pumps. A breast pump is a medical device used for extracting milk from the breast of lactating mothers. The milk can be stored for later use. These devices are mostly used by employed women to continue breastfeeding their babies while still at work. The main types of breast pumps are open system breast pumps and closed system breast pumps. A breast pump with a milk barrier is known as a closed system, which prevents the milk overflowing and leaking into the pump mechanism. An open system breast pump doesn’t have a milk barrier. The main technologies in breast pumps include manual breast pump, battery-powered breast pump, and electric breast pump. Breast pumps find their applications in personal use and hospitals. The global breast pumps market is expected to grow from $1.58 billion in 2020 to $1.72 billion in 2021 at a compound annual growth rate (CAGR) of 9.1%. The growth in the breast pumps market is mainly due to the increasing awareness about the benefits and importance of breastfeeding, as breast milk is safe and still considered the best way to give babies the nutrients and immune boost. The market is expected to reach $2.32 billion in 2025 at a CAGR of 7.76%. An increase in the global women's employment rate is contributing to the growth of the breast pumps market. There have been visual progress in terms of employment opportunities for women in recent years. According to monthly data published by the Bureau of Labor Statistics (BLS), an estimated 76.24 million women were on payrolls in December 2019—that’s 109,000 more women than men. At the end of 2019, women made up to 50.04% of all those on payrolls. The breast pumps offer a convenient option for employed women to continue breastfeeding their babies while still at work. Therefore, the increasing global women's employment rate added to the growth of the breast pumps market. The launch of new breast pump devices with small size and portable features is the key trend gaining popularity in the development of the breast pumps market. For instance, in May 2020, Ameda AG, a Switzerland-based manufacturer of hospital strength portable breast pumps & accessories launched its Mya Joy hospital strength personal breast pump which combines safe & powerful pumping in asmall and portable design for moms on the go. Mya Joy offers versatile features, comfort, and safety for moms who are looking for a convenient pumping experience. In July 2017, Switzerland based breastfeeding products company, Medela acquired Moxxly for an undisclosed amount. Through this acquisition, Medela strengthened its portfolio of breastfeeding products and gained access to the US market. Moxxly is a USA based company that develops smart products for modern moms. Major players in the breast pumps market are Ameda AG, Bailey Medical, Medela AG, Ardo Medical Inc., Linco Baby Merchandise Work's Co. Ltd, Pigeon Corporation, Hygeia Health, Lansinoh Laboratories, Whittlestone Inc., Koninklijke Philips NV, NUK, Tommee Tippee, Horigen, Evenflo Feeding, Dr. Brown's, Babybelle, Beldico, Freemie, Willow, Buettner Frank GmbH, Spectra Baby, Canpol, Chicco, Albert International, FreiCare Swiss GmbH, Goodbaby, Snow Bear, Energizer Personal Care LLC (Playtex Baby), Jarden Corporation, and Mayborn Group Limited. North America was the largest region in the breast pumps market in 2020. Asia Pacific region is anticipated to record the fastest growth over the forecast period. The regions covered in the breast pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the breast pump market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global breast pumps market is segmented - 1) By Product: Open System Breast Pump, Closed System Breast Pump 2) By Technology: Manual Breast Pump, Battery Powered Breast Pump, Electric Breast Pump 3) By Application: Personal Use, Hospital Grade

The intracranial stents market consists of sales of intracranial stents by entities (organizations, sole traders, and partnerships) that manufacture intracranial stents. Intracranial stents are the tubular device that is placed inside the blood vessel, canal, or duct. They are used for intracranial stenosis and brain aneurysms to open the blocked arteries. The main types of intracranial stents are self-expanding stents, balloon expanding stents, and stent-assisted coil embolization. A self-expanding stent expands on its own after being inserted into the lumen it is meant to occupy, such as a blood vessel, tube, or organ. Balloon expanding stents also known as balloon-expandable stents have higher radial stiffness and more accurate placement and are designed to treat restenosis in the iliac artery by opening clogged arteries and restoring blood flow. Stent-assisted coil embolization helps stabilize the coils within the aneurysm and provide a buttress that allows for coil deposition while preventing coil haerniation into the parent vessel lumen. The various indications of diseases include brain aneurysm, intracranial stenosis and are implemented in various sectors such as hospitals, ambulatory surgery centers, others. The global intracranial stents market is expected to grow from $328.57 million in 2020 to $368.18 million in 2021 at a compound annual growth rate (CAGR) of 12.1%. The growth in the intracranial stents market is mainly due to the increasing incidence of a brain aneurysm and strokes, increase in preference for intracranial stents for the treatment of intracranial stenosis and management of stroke, increasing Demand for Minimally Invasive Intracranial Surgeries, increase in the adoption of technologically advanced intracranial stents, growing prevalence of high blood pressure, and rapid rise in the geriatric population. The market is expected to reach $700.90 million in 2025 at a CAGR of 17.5%. The increasing incidence of a brain aneurysm is expected to propel the growth of the intracranial stents market in the coming years. A brain aneurysm is the development of a bulge in the blood vessels of the brain. This bulge may rupture or burst and can cause brain hemorrhage, which may lead to the death of the patient. Intracranial vessel stenting (IVS) is a minimally invasive treatment for treating serious cerebral artery stenosis. The weakening of the arteries that deliver blood to the brain is known as cerebral artery stenosis. According to the brain aneurysm foundation, 2020, an expected 6.5 million people in the USA are suffering from an unruptured brain aneurysm, accounting for about one in every 50 people. Additionally, a brain aneurysm causes around 500,000 deaths globally every year and is more common among women. Thus, the increasing incidence of a brain aneurysm will drive the intracranial stents market growth. The introduction of flow diversion technology to the field of neurointervention has revolutionized the treatment of intracranial aneurysms which is a key trend gaining popularity in the intracranial stents market. Flow diversion is an endovascular procedure in which a device is inserted in the parent blood vessel to move blood flow away from the aneurysm rather than around the aneurysm sac. For instance, in March 2020, Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST) developed an innovative intracranial flow diverter stent for brain aneurysms treatment. Intracranial flow diverters have the benefit of becoming adaptable and flexible to the vessel's shape and direction and also helps the vessel wall recover by relieving it of the continuous burden of blood flow. It is entitled as Chitra flow diverter, the device is ready for transfer and further testing in animals to be followed by human trials. In January 2021, Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST), an autonomous institute of the Department of Science & Technology (DST), Govt of India, under the Technical Research Centre (TRC), announced that it has entered into Technology Transfer Agreements with Biorad Medisys, for two biomedical implant devices namely an Atrial Septal Defect Occluder and an Intracranial Flow Diverter Stents developed by the institute in collaboration with National Aerospace Laboratories, Bangalore (CSIR-NAL)using superelastic NiTiNOL alloys. Biorad Medisys is a India based company that manufacturer various implants and surgical devices. Major players in the intracranial stents market are Medtronic, Balt, Stryker Corporation, MicroPort Scientific Corporation, Boston Scientific Corporation, Acandis GmbH, Admedes Schuessler GmbH, MicroVention (Terumo), and Phenox. North America was the largest region in the intracranial stents market in 2020. Asia Pacific is expected to be the fastest region in the intracranial stents market during the forecast period. The regions covered in the intracranial stents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the intracranial stents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global intracranial stents market is segmented - 1) By Type: Self Expanding Stents, Balloon Expanding Stents, Stent-Assisted Coil Embolization 2) By Disease Indication: Brain Aneurysm, Intracranial Stenosis 3) By End-User: Hospitals, Ambulatory Surgery Centers, Others

The laboratory mixer market consists of sales of laboratory mixers by entities (organizations, sole traders, and partnerships) that manufacture laboratory mixers. Laboratory mixers are instruments that aid in the formation of a homogeneous mixture from one or more ingredients. A blade in a laboratory mixer is immersed in the sample mixture to mix or mechanically stir it. The main product types of laboratory mixers are shakers, magnetic stirrers, vortex mixers, conical mixers, overhead stirrers, and accessories. The different platforms include digital devices, analog devices and are operated in gyratory movement, linear movement, rocking or tilting movement, orbital movement. It is implemented in various sectors such as research laboratories and institutes, pharmaceutical and biotechnology companies, and others. The global laboratory mixer market is expected to grow from $1.37 billion in 2020 to $1.49 billion in 2021 at a compound annual growth rate (CAGR) of 9%. The growth in the laboratory mixer market is mainly due to the growing demand for laboratory equipment including mixers in the forecast period. The market is expected to reach $1.92 billion in 2025 at a CAGR of 6.5%. The increasing prevalence of diseases is contributing to the laboratory mixer market growth. The prevalence of diseases increases the demand for laboratory diagnostic testing, research, and development activities. A laboratory mixer is a common tool that is required in all laboratories as it mixes, dissolves, and emulsifies material. According to predictions from the London School of Hygiene & Tropical Medicine, in 2020, 1.7 billion people, or 22% of the global population, would have at most one chronic health issue. Therefore, the increasing prevalence of diseases is expected to propel the growth of the laboratory mixer market in the forecast period. The rising investments in research and development (R&D) activities are shaping the laboratory mixer market. The increasing investment by pharmaceutical companies is boosting the research and development activities on various medicine and vaccines. The research and development activities carried by pharmaceutical companies generate the need for lab equipment such as test tubes, laboratory mixers, stirrers, shakers, refrigerators, and others, thus driving the growth of the market. In December 2020, Beijing JWGB Sci. & Tech. Co., Ltd, a China-based premier hi-tech company acquired Scientific Industries subsidiary, Altamira Instruments, Inc. for $440,000 in cash and promissory notes. This acquisition is expected to support Beijing JWGB Sci. & Tech. Co, to continue to focus and invest resources in core businesses, and build on the current strong momentum the company, while expanding on client base. Altamira Instruments, Inc. is a US-based manufacturer of laboratory equipment. Major players in the laboratory mixer market are Bio-Rad Laboratories, Thermo Fisher Scientific, Eppendorf, Cole-Parmer, Silverson, Avantor, Corning, IKA Works, Remi Group, Heidolph Instruments, Labstac, SaintyCo, Ratek Instruments, Nickel-Electro, Admix, VMI, Charles Ross & Son Company, and Shakti Pharmatech. North America was the largest region in the laboratory mixer market in 2020. Asia Pacific is expected to be the fastest region in the forecast period. The regions covered in the laboratory mixer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the laboratory mixer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global laboratory mixer market is segmented - 1) By Product: Shakers, Magnetic Stirrers, Vortex Mixers, Conical Mixers, Overhead Stirrers, Accessories 2) By Platform: Digital Devices, Analog Devices 3) By Operability: Gyratory Movement, Linear Movement, Rocking Or Tilting Movement, Orbital Movement 4) By End-User: Research Laboratories And Institutes, Pharmaceutical And Biotechnology Companies, Others

The blood group typing market consists of sale of blood group typing products and related services by entities (organizations, sole traders and partnerships) that provide blood group type details that are derived from certain tests. Blood group typing is a method that tells the type of blood a person has and it is done so that a person can safely donate blood or receive a blood transfusion. The main types of blood group typing are antibody screening, cross-matching tests, ABO tests, antigen typing and human leukocyte antigen (HLA) typing. The antibody screening tests are performed in a clinical laboratory or blood bank is done to detect the presence of unexpected antibodies, like alloantibodies in the serum to antigens of the non-ABO blood group system. Cross matching tests are performed before a blood transfusion as part of blood compatibility testing. Human leukocyte antigen (HLA) typing is a kind of genetic test used to identify certain individual variations or proteins in immune system, it is often used to match patients and donors for bone marrow or cord blood transplants. ABO tests are done to evaluate the blood type of a person out of four types, which is A, B, AB, or O. Antigen tests are immunoassays that are used to detect the presence of a specific viral antigen and are commonly used in the diagnosis of respiratory pathogens, including influenza viruses and respiratory syncytial virus. The products that are used for blood group typing are instruments, reagents and kits and techniques that are used are serology tests, and molecular tests. The blood group typing is used in hospital-based laboratories, independent laboratories and blood banks. The global blood group typing market is expected to grow from $2.08 billion in 2020 to $2.34 billion in 2021 at a compound annual growth rate (CAGR) of 12.37%. The growth is mainly due to the rise in blood transfusions, cross-match testing and prenatal testing, and technology advancements in blood testing reagents and instruments. The blood group typing market is expected to reach $3.59 billion in 2025 at a CAGR of 11.28%. Increasing number of blood donations and transfusions drove the blood group typing market during the historic period. Different non-profit organizations, government organizations and other agencies are emphasizing on the importance of blood donations and transfusions and spreading awareness through various campaigns. Increase in blood donations increased the demand for blood group typing so that the donor can know what type of blood they have. For instance, according to WHO, blood donations have increased from 2013 to 2018 with 7.8 million blood donations from voluntary unpaid donors being reported from 2013 to 2018. The increase in number of blood donations and transfusions, thereby contributed to growth of the blood typing market. Technological advancements such as automated technologies for blood typing gaining traction in the blood group typing market. Major companies in the market are focusing on introduction of new type of tests based on innovative techniques that offer results in low turn-around time, with improved accuracy and efficiency. For instance, in January 2019, Grifols S.A secured clearance from the US Food and Drug Administration (FDA) for its fully-automated analyzer Erytra Eflexis. The system is designed to test pre-transfusion compatibility utilizing the DG Gel technology. In October 2020, Calibre Scientific, provider of life science reagents, tools, instruments?and other consumables to the lab research, diagnostics, industrial and biopharmaceutical communities, acquired Lorne Laboratories for an undisclosed amount. The acquisition will support Calibre diagnostics division and expand the expertise of the company. Lorne Laboratories is a specialty manufacturer of blood grouping reagents and diagnostic test kits. Major players in the blood group typing market are Grifols, Bio-Rad Laboratories, Immucor Inc., Ortho Clinical Diagnostics, Quotient, BAG Health Care GmbH, AXO Science, Agena Bioscience, Merck KGaA, Beckman Coulter Inc, Sucuri Inc, Rapid Labs, AXO Science, Day Medical SA, and Novacyt Group. North America was the largest region in the blood group typing market in 2020. Asia Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the blood group typing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the blood group typing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global blood group typing market market is segmented - 1) By Test Type: Antibody Screening, Cross-Matching Tests, ABO Tests, Antigen Typing, HLA Typing 2) By Product: Instruments, Reagents And Kits 3) By Techniques: Serology Tests, Molecular Tests 4) By End User: Hospital Based Laboratories, Independent Laboratories And Blood Banks