What Is The Current and Historic Market Size Analysis Of The Refurbished Medical Imaging Devices Market?
The refurbished medical imaging devices market has seen considerable growth due to a variety of factors.
• The refurbished medical imaging devices market has seen strong growth in recent years. It is projected to increase from $6.34 billion in 2024 to $7 billion in 2025, at a compound annual growth rate (CAGR) of 10.4%.
The growth is due to healthcare reimbursement policies, clinical demands, vendor support, patient safety, and improvements in service quality.
What are the Market Size and Expected Growth Rates for the Refurbished Medical Imaging Devices Market?
The refurbished medical imaging devices market is expected to maintain its strong growth trajectory in upcoming years.
• The refurbished medical imaging devices market is projected to grow to $10.25 billion by 2029 at a CAGR of 10.0%.
Growth will be driven by expanding healthcare infrastructure, increased demand for diagnostic services, and the need to replace obsolete equipment. Trends include enhanced connectivity, focus on cost-effectiveness, portable solutions, and upgradability.
Which Key Drivers Are Propelling The Refurbished Medical Imaging Devices Market's Growth?
The growth of the refurbished medical imaging device market is anticipated to be driven by the rising number of diagnostic imaging procedures. These procedures, which involve multiple medical methods to visualize the body's inner structures for the sake of diagnosis, are expanding as a result of the growing acceptance of preventive healthcare measures. This growth allows for earlier detection and treatment of health issues. Refurbished medical equipment is typically utilized for a wide range of diagnostic uses, such as identifying fractures, evaluating lung conditions through chest examination, and checking for abnormalities in the abdomen. For example, a report by the Canadian Agency for Drugs and Technologies in Health, a professional non-profit organization in Canada, stated in December 2023 that the count of magnetic resonance imaging (MRI) units in all provinces and one territory increased significantly by 30.8%, from 308 units in 2021 to 403 units in 2022. Furthermore, a survey by the Canadian Agency for Drugs and Technologies in Health, a government office in Canada, revealed that the average number of MRI scans, a type of diagnostic imaging procedure, at a single private facility in Canada increased from 4,703, with a range of 531 to 12,194 in 2021 to 2022, to 5,178, with a range of 569 to 12,389 scans. Hence, the rise in diagnostic imaging procedures is propelling the growth of the refurbished medical imaging device market.
What Are The Key Segments Within The Global Refurbished Medical Imaging Devices Market?
The refurbished medical imaging devices market covered in this report is segmented –
1) By Product: X-Ray Machines, Magnetic Resonance Imaging (MRI) Systems, Ultrasound Systems, Computed Tomography Scanners, Nuclear Imaging Systems, Other Products
2) By Application: Diagnostic, Therapeutic
3) By End Users: Hospitals, Clinics, Diagnostic Centers, Other End Users
Subsegments:
1) By X-Ray Machines: Analog X-Ray Machines, Digital X-Ray Machines
2) By Magnetic Resonance Imaging (MRI) Systems: Closed MRI Systems, Open MRI Systems
3) By Ultrasound Systems: Portable Ultrasound Systems, Cart-Based Ultrasound Systems
4) By Computed Tomography Scanners: Single Slice CT Scanners, Multi-Slice CT Scanners
5) By Nuclear Imaging Systems: PET Scanners, SPECT Scanners
6) By Other Products: Mammography Machines, C-Arms
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What Trends Are Shaping The Refurbished Medical Imaging Devices Market?
Major firms in the market for refurbished medical imaging devices are strategically aligning themselves with other companies to strengthen their position. Collaborations between healthcare facilities and suppliers of medical equipment are a key part of these partnerships, with refurbished imaging hardware being a prime focus. For example, AA Medical, a provider of sustainable solutions from the US, established strategic alliances in October 2023 with Tekyard, a company known for its work with used, refurbished technology and medical equipment, Zantek Medical which provides biomedical devices that are both refurbished and biomed-certified, and MED-SELL.COM which trades in pre-owned medical equipment. These partnerships aim to elevate AA Medical's proficiency in healthcare asset management, medical device reprocessing, and disposition. They plan to enhance AA Medical's global product and service exposure and solidify its standing within the pre-owned medical device sector. Additionally, they will capitalize on the specialized skills of Tekyard's disposition solutions, Zantek's refurbished biomedical devices, and the disposition services of MED-SELL.COM.
Who Are the Key Players In The Refurbished Medical Imaging Devices Market?
Major companies operating in the refurbished medical imaging devices market are:
• Hitachi Ltd.
• Toshiba Medical Systems Corporation
• Siemens Healthineers AG
• Koninklijke Philips N.V.
• Stryker Corporation
• General Electric Healthcare LLC
• Hologic Inc.
• Carestream Health Inc.
• Canon Medical Systems Corporation
• TTG Imaging Solutions Inc.
• Block Imaging International Inc.
• Avante Health Solutions LLC
• Shared Imaging LLC
• DRE Medical Inc.
• Dunlee
• Soma Technology Inc.
• Amber Diagnostics Inc.
• Radiology Oncology Systems Inc.
• EverX Pty Ltd.
• Nationwide Imaging Services Inc.
• Atlantis Worldwide LLC
• DirectMed Imaging
• Integrity Medical Systems Inc.
What Are The Regional Insights Into The Refurbished Medical Imaging Devices Market?
North America was the largest region in the refurbished medical imaging devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the refurbished medical imaging devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
