What Has Been the Progress and Growth of the Refurbished MRI Systems Market in Recent Years?
The refurbished mri systems market has seen considerable growth due to a variety of factors.
• The refurbished MRI systems market has grown rapidly in recent years. It will increase from $0.77 billion in 2024 to $0.85 billion in 2025, at a compound annual growth rate (CAGR) of 10.7%.
The market’s growth is driven by the need for cost-effective solutions, limited healthcare budgets, the rise in healthcare spending, the growing prevalence of chronic diseases, and the demand for advanced diagnostic tools.
What Is The Expected Growth In The Refurbished MRI Systems Market Size Evolve over the Forecast Period?
The refurbished mri systems market is expected to maintain its strong growth trajectory in upcoming years.
• The refurbished MRI systems market is expected to grow to $1.27 billion by 2029 at a CAGR of 10.4%.
The growth will be supported by rising demand for affordable medical devices, awareness of healthcare benefits, and initiatives to improve healthcare access. Key trends include advancements in refurbishment technologies, the availability of certified pre-owned MRI systems, and sustainability practices.
What Main Forces Are Fueling Expansion In The Refurbished MRI Systems Market?
As more individuals seek healthcare services, it's projected that the refurbished MRI systems market will expand in response. Healthcare services, which include preventive, diagnostic, therapeutic, and palliative care, are designed to enhance or maintain individual health. The amplified demand for these services is due to aging populations, greater instances of chronic diseases, advancements in medical technology, and broader access to healthcare. To accommodate this growing need, refurbished MRI systems offer an affordable yet high-quality solution for imaging needs, improving diagnostic capabilities and accessibility. As an example, Health Affairs, an academic journal based in the U.S., reported that the nation's healthcare spending is predicted to increase from $4,799.3 billion in 2023 to $5,048.8 billion in 2024. This represents an approximate increase of $249.5 billion. Because of this, the ever-growing demand for healthcare services is fueling the growth of the refurbished MRI systems market.
What Are The Primary Segments In The Global Refurbished MRI Systems Market?
The refurbished mri systems market covered in this report is segmented –
1) By Architecture: Closed System, Open System
2) By Field Strength: Low Field Strength, Mid Field Strength, High Field Strength
3) By End Use: Hospitals, Imaging Centers, Ambulatory Surgical Centers, Other End Users
Subsegments:
1) By Closed System: Superconducting MRI Systems, Permanent Magnet MRI Systems, Resistive Magnet MRI Systems
2) By Open System: Open-High Field MRI Systems, Open-Low Field MRI Systems
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What Emerging Trends Are Influencing The Growth Of The Refurbished MRI Systems Market?
Prominent organizations active in the market for refurbished MRI systems are concentrating their efforts on the development of superior-resolution imaging technologies, such as gradient technology, in order to acquire a competitive edge. Producing controlled variations in the magnetic field, gradient technology is vital to generating detailed MRI images. As an example, Arnica HealthTech, an MRI system firm located in India, launched the Avanto Refurbished Siemens MRI Machine in March 2024, providing top-quality medical imaging at a cost-effective price. Renowned for its exceptional image quality and patient-centric design, the Avanto model incorporates Tim technology for quicker scans, Magnetom gradients for high-definition imaging, and cutting-edge applications like diffusion-weighted and perfusion imaging. The design also gives priority to patient comfort featuring a wide bore, noise minimization, and mood lighting, ensuring a more soothing experience.
Who Are the Key Players In The Refurbished MRI Systems Market?
Major companies operating in the refurbished MRI systems market are:
• Hitachi Ltd.
• Siemens Healthineers
• Koninklijke Philips N.V.
• GE Healthcare
• Hologic Inc.
• Canon Medical Systems Corporation
• Shimadzu Corporation
• Onex Corporation (Carestream Health)
• Cameco Corp.
• Barco N.V.
• First Source Inc.
• Oxford Instruments Healthcare
• Esaote SpA
• Nordion Inc.
• Block Imaging International Inc.
• Meridian Leasing
• Radio Oncology Systems Inc.
• Soma Technology Inc.
• Amber Diagnostics
• Innovative Imaging Technologies
• Avante Health Solutions
• Integrity Medical Systems Inc.
• LBN Medical
• DirectMed Parts & Service LLC
• EverX Pty Ltd.
• Atlantis Worldwide LLC
• BMI Biomedical International
• TRACO Medical
• Tekyard Medical
What Is The Most Dominant Region In The Refurbished MRI Systems Market?
North America was the largest region in the refurbished MRI systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the refurbished MRI systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
