The global market
for refurbished medical equipment is the focus of study a market
research report by Transparency Market Research. The report, titled
“Refurbished Medical Equipment Market - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast 2012 - 2018”, states that
the global market for refurbished equipment, which had a valuation of
US$9 bn in 2012, will expand at a healthy CAGR of 8.2% between 2012
and 2018.
Refurbishment is a
highly organized practice for inspecting the efficacy and safety of a
used equipment so that all safety parameters are met before the
equipment can be reused, without changing its use as per original
registration. For an equipment to be qualified as refurbished, its
life of operation also plays a vital role.
The high demand of
refurbished medical imaging equipment in developed as well as
emerging economies like Brazil, China, and India is a prime driver of
the global refurbished medical equipment market.
The report states
that the global demand for refurbished medical equipment has seen a
significant rise in the past few years along with a strong growth in
the demand for new medical equipment. Until only a decade ago,
refurbished medical equipment were mostly exported to developing
countries, through suppliers who were not professionally well
trained. These factors hindered the overall growth of the global
refurbished medical equipment market.
However, cost
containment in healthcare budgets in developed countries such as the
U.S. and many countries in Europe owing to the recent economic
depression has triggered the demand for refurbished medical equipment
in these regions in the past few years. There has also been a surge
in the number of trained professionals in this field, benefitting the
global refurbished medical equipment significantly.
Besides cost
constraints, the rapidly expanding global population of geriatrics is
also a key factor driving an increased demand for refurbished medical
equipment to supplement the increased number of surgical procedures.
The number of private healthcare institutions has also increased
across the globe, adding significantly to the overall demand for a
variety of new as well as refurbished medical equipment.
Some of the key
restraining factors for the market are inadequate support from
government bodies, inefficient policies regarding reimbursement, and
stringent regulatory policies.
The report also
presents a detailed overview of the competitive landscape of the
global refurbished medical equipment market with the help of detailed
business profiles of some of the major companies in the market and
recent developments. Some of the key companies in the market are
original equipment manufacturers such as Siemens Healthcare, Phillips
Healthcare, Johnson and Johnson, GE Healthcare, DMS Topline, Soma
Technology, First Source, Inc., and Agito Medical.
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