The Global Refurbished Medical Devices Market was worth $6.80 billion in 2016 and estimated to be growing at a CAGR of 12.5%, to reach $12.25 billion by 2021.
Hyderabad, India -- (SBWIRE) -- 02/16/2018 -- The report "Refurbished Medical Devices Market by Product Type (Operating Room Devices & Surgical Devices, Patient Monitors, Defibrillators, Neurology Devices, Medical Imaging Devices, Cardiovascular & Cardiology Devices, IV Therapy Systems, Endoscopy Devices, Intensive Care Systems, Neonatal Intensive-Care Devices, and Other Medical Devices) - Forecast to 2021". The Refurbished Medical Devices Market is expected to reach USD 12.25 Billion by 2021 from an estimated USD 6.8 Billion in 2016, at a CAGR of 12.5%.
The refurbishment could be a step towards growing ecological awareness during an exercise economy. Varied original instrumentation makers still as separate refurbishes have started their separate refurbishing units and provision instrumentation across the care sector. Refurbishing delivers further price to a brand new user and dipping the virulent and waste disposal burden. Key factors reminiscent of increasing privatization within the care sector, poor compensation state of affairs for varied medical treatments, giant patient population base, and presence of an outsized range of hospitals with budget constraints in developing countries area unit the main factors driving the expansion of this market.
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By product type, the Patient Monitors segment accounted for the largest share of the market revenue in 2016.
On the basis of product type, the Refurbished Medical Devices Market has been segmented into neonatal intensive-care equipment, cardiovascular & cardiology equipment, endoscopy equipment, defibrillators, neurology equipment, medical imaging equipment, IV therapy systems, patient monitors, intensive care systems, operating room equipment & surgical equipment and other medical equipment. In 2016, the patient monitor device segment accounted for the largest share of the global Refurbished Medical Devices Market.
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North America dominated the market in 2016
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North America accounted for the largest share of the Refurbished Medical Devices Market in 2016. The large share of the North American Refurbished Medical Devices Market can be attributed to the increasing trend of medical commercial enterprise and growing privatization of the care sector in this region. The Asia Pacific is anticipated to expand its market size in the forecast period.
The various players in the Refurbished Medical Devices Market include Siemens Healthcare systems, First Source Inc., DMS Topline, Radio Oncology Systems Inc., Johnson & Johnson, GE Healthcare, DRE Inc., and Block Imaging International Inc., Integrity Medical systems Inc., Everx Pvt Ltd., Philips Healthcare, Agito medical A/S and Soma Technology.
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