According to research report the refurbished
medical equipment market is expected to reach USD 11.91 Billion by
2021 from USD 6.55 Billion in 2016, at a CAGR of 12.7% during the forecast
period. Increasing privatization in the healthcare sector, poor reimbursement
scenario for various medical treatments, large patient population base, and
presence of a large number of hospitals/clinics with budget constraints in
developing countries are the major factors driving the growth of this market.
Growing initiatives undertaken by leading market players (such as GE
Healthcare, Philips Healthcare, and Siemens Healthineers) to establish
refurbishment facilities in both mature and developing markets are further
adding to the growth prospects of Refurbished Medical Equipment market.
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The global refurbished medical equipment market was
dominated by GE Healthcare (U.S.), Koninklijke Philips N.V. (Netherlands), and
Siemens Healthineers (Germany) in 2015. With its broad product portfolio and
strong distribution network, GE Healthcare held the leadership position in the
global refurbished medical equipment market in 2015. The company offers
refurbished medical devices under its brand “GoldSeal”. GE Healthcare’s product
portfolio includes a wide range of refurbished medical devices, namely,
GoldSeal Bone Health, GoldSeal Computed Tomography, GoldSeal Interventional
X-ray, GoldSeal MRI, GoldSeal Nuclear Medicine, GoldSeal PET/CT, GoldSeal
Mammography, GoldSeal RAD/R&F X-ray, and GoldSeal Ultrasound system. In the
last three years, the company adopted partnerships and expansions as its key
strategies to maintain its leadership position in the global refurbished
medical equipment market.
Philips Healthcare held the second position in the
refurbished medical equipment market, in 2015. The company has a robust product
portfolio of refurbished medical products for advanced molecular imaging,
computed tomography, interventional X-ray, and ultrasound. It has wide
geographic presence across the U.S., China, Germany, Japan, India, France, and
the Netherlands. In the last three years, the company adopted expansions and
partnerships as its key business strategy to maintain its position in the
global refurbished medical equipment market.
Leading players are also adopting other strategies such
as product launches and approvals, agreements, and acquisitions for expanding
their product portfolios and distribution networks in the global refurbished
medical devices market.
Other key players including Siemens Healthineers
(Germany), Block Imaging International, Inc., (U.S.), Soma Technology, Inc.
(U.S.), DRE Medical, Inc. (U.S.), Agito Medical A/S (Denmark), Everx Pvt Ltd.
(Australia), Integrity Medical Systems, Inc. (U.S.), and Radiology Oncology
Systems, Inc. (U.S.) are primarily focused on expansions; partnerships,
agreements, and collaborations; acquisitions; and product approvals in order to
strengthen their footprint in the market.
