The global refurbished medical devices market is anticipated to grow considerably at a CAGR of 12.3% during the forecast period (2024-2031). The key companies across the globe are adopting different business strategies including expanding their geographic presence, R&D activities, new product approvals, mergers & acquisitions, partnerships, and collaborations to increase market share. For instance, in January 2019, Avante Health Solutions has completed the transition of DRE Medical Inc., The transition connects the company even more with other Avante companies, and it’s an exciting next step in a process that started nearly four years ago. As part of the Avante Health Solutions family, the company has continued to provide the same level of variety and service to its clients for existing medical and surgical equipment. Anesthesia machines, respiratory ventilators, microscopes, surgical tables, surgical lights, procedure chairs, electrosurgical equipment, and all other operating room equipment are still available from the company. Besides, in August 2018, Xhale Assurance, a US-based medical technology business that develops and commercializes patient-centric monitoring solutions for the healthcare industry, was bought by Koninklijke Philips.
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Further, in May 2018, Global Medical Imaging, a division of Avante Health Solutions, has been certified to ISO 13485:2016 standards. This has reinforced its market position and is likely to make it easier for it to expand its global operations, which include sales and service of new and refurbished ultrasound systems and probes. In April 2018, Merry X-Ray Corporation, one of the country’s leading X-ray system distributors and service providers, announced the acquisition of Nationwide Imaging Services, Inc., a major international provider of used medical imaging equipment and parts. In February 2018, Philips Healthcare has completed the acquisition of AGITO Medical A/S, a company based in Denmark that sells and services used imaging equipment and parts. This acquisition bolstered Philips’ multi-vendor service support options throughout Europe. Thus, the mergers and acquisitions, partnerships, and collaborations by the major player are in the market is to propels the growth of the global refurbished medical devices market during the forecast period.
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Market Coverage
- Segment Covered-
o By Type
o By Application
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- General Electric Co., Koninklijke Philips N.V., Siemens AG, Stryker Corp., DRE Medical Inc., AGITO Medical A/S, and Soma Technology Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Refurbished Medical Devices Market Report Segment
By Type
- Operating Room Equipment And Surgical Devices
o Anesthesia Machines
o Operating Tables
o Operating Lights
o Surgical Light Sources
o Surgical Microscopes
o Medical Gas Equipment
o Others
- Diagnostic/Imaging
o MRI
o CT Scanners
o Ultrasound Systems
o Other (X-Ray Machines, PET/CT, C-Arm, Mammography)
- Patient Monitors
o ECG
o Fetal Monitors
o Pulse Oximeters
o Others
- Defibrillators
- Other Devices
By Application
- Cardiology
- Neurology
- Endoscopy
- Other Applications
By End-User
- Hospitals
- Private Clinics
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