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Refurbished Medical Imaging Equipment Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025

  • Published: Dec 2020
  • Pages: 120
  • SKU: IRTNTR46575
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The refurbished medical imaging equipment market size has the potential to grow by USD 2.52 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 7.39%. 

This report provides a detailed analysis of the market by product (CT scanners, MRI scanners, general X-ray systems, ultrasound systems, and SPECT/PET scanners), end-user (hospitals and diagnostic centers), geography (Asia, Europe, North America, and ROW), and key vendors. 

Market Overview

Refurbished Medical Imaging Equipment Market Size

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Market Competitive Analysis

The report analyzes the market's competitive landscape and offers information on several market vendors, including: 

 

  • Atlantis Worldwide LLC
  • Block Imaging 
  • Canon Inc.
  • EverX Pty Ltd.
  • General Electric Co.
  • Hitachi Ltd.
  • Integrity Medical Systems Inc.
  • Koninklijke Philips NV
  • Radiology Oncology Systems Inc.
  • Siemens Healthineers AG

 

The refurbished medical imaging equipment market is fragmented and the vendors are deploying growth strategies such as strategic partnerships and agreements to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as increasing demand for cost-effective and efficient medical imaging devices to achieve growth opportunities. However, factors such as concerns regarding quality, safety, and efficacy will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the refurbished medical imaging equipment market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This refurbished medical imaging equipment market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities. 

Refurbished Medical Imaging Equipment Market: Key Drivers and Trends

  • The increasing demand for cost-effective and efficient medical imaging devices is one of the major factors that is driving the growth of the refurbished medical imaging equipment market.
  • Most people in developing countries do not have access to quality healthcare services owing to high costs associated with new medical imaging equipment, making them unaffordable to numerous hospitals and diagnostic centers with budget constraints.
  • Refurbished medical imaging devices are considered as a substitute for new devices and provide significant cost savings when compared to new devices.
  • It has been observed that the adoption of high-end refurbished medical imaging devices from major suppliers such as GE Healthcare, Siemens Healthineers, and Philips Healthcare helps healthcare institutions save about 20% of their expenditure.
  • The increasing privatization in the healthcare sector will also fuel the medical imaging equipment market size growth.
  • Private healthcare institutions are growing at a significant rate globally.
  • Generally, private hospitals are profit-driven, in which management has autonomous control over pricing and quality of the services provided.
  • Due to the increased privatization, the demand for quality treatment has increased, leading to the procurement of advanced devices. Hence, the preference for cost-effective alternatives that offer quality services at affordable prices has increased among private hospitals and diagnostic centers.
  • The adoption of refurbished medical imaging devices allows private organizations to provide a variety of diagnostic services to patients at a lower cost without compromising on the quality of the service and thereby staying ahead of competitors

 

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Refurbished Medical Imaging Equipment Market: Segmentation by Geography

Refurbished Medical Imaging Equipment Market Market segmentation by region

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40% of the market's growth will originate from North America during the forecast period. The US is a key market for refurbished medical imaging equipment in North America. However, market growth in North America will be slower than the growth of the market in other regions.

The favorable regulatory policies for refurbished medical imaging devices is one of the prime factors that will facilitate the refurbished medical imaging equipment market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Refurbished Medical Imaging Equipment Market: Segmentation by Product

Refurbished Medical Imaging Equipment Market Segmentation

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CT scanners are estimated to dominate the refurbished medical imaging equipment market during the forecast period, owing to their widespread use in both diagnostic and therapeutic procedures. The demand for CT scanners is increasing with rapidly growing applications in medicine, coupled with new developments such as CT-based thermometry and CT-guided invasive diagnostic and therapeutic procedures. The refurbished medical imaging equipment market share growth by the CT scanners segment will be faster than the MRI scanners, ultrasound systems, and SPECT/PET scanners segments.    

This report provides an accurate prediction of the contribution of all the segments to the growth of the refurbished medical imaging equipment market size. Fetch actionable market insights on post COVID-19 impact on each segment.   

 

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Refurbished Medical Imaging Equipment Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive refurbished medical imaging equipment market growth during the next five years
  • Precise estimation of the refurbished medical imaging equipment market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the refurbished medical imaging equipment industry across Asia, Europe, North America, and ROW
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of refurbished medical imaging equipment market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces analysis
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • CT scanners - Market size and forecast 2020-2025
    • MRI scanners - Market size and forecast 2020-2025
    • General X-ray systems - Market size and forecast 2020-2025
    • Ultrasound systems - Market size and forecast 2020-2025
    • SPECT/PET scanners - Market size and forecast 2020-2025
    • Market opportunity by Product

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Hospitals - Market size and forecast 2020-2025
    • Diagnostic centers - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • Asia - Market size and forecast 2020-2025
      • ROW - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Competitive scenario
      • Vendor landscape
      • Landscape disruption
      • Industry risks

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Atlantis Worldwide LLC
      • Block Imaging 
      • Canon Inc.
      • EverX Pty Ltd.
      • General Electric Co.
      • Hitachi Ltd.
      • Integrity Medical Systems Inc.
      • Koninklijke Philips NV
      • Radiology Oncology Systems Inc.
      • Siemens Healthineers AG

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
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      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      Refurbished Medical Imaging Equipment market growth will increase by $2518.96 million during 2020-2025.
      The refurbished medical imaging equipment market is expected to grow at a CAGR of 7.39% during 2020-2025.
      Technavio has segmented the refurbished medical imaging equipment market by product (CT scanners, MRI scanners, General X-ray systems, Ultrasound systems, and SPECT/PET scanners) ,end user (Hospitals and Diagnostic centers) , and geographic (North America, Europe, Asia, and ROW).
      Atlantis Worldwide LLC, Block Imaging , Canon Inc., EverX Pty Ltd., General Electric Co., Hitachi Ltd., Integrity Medical Systems Inc., Koninklijke Philips NV, Radiology Oncology Systems Inc., Siemens Healthineers AG are a few of the key vendors in the refurbished medical imaging equipment market.
      North America will register the highest growth rate of 40.09% among the other regions. Therefore, the refurbished medical imaging equipment market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the refurbished medical imaging equipment market growth are:
      • Increasing demand for cost-effective and efficient medical imaging devices
      The refurbished medical imaging equipment market vendors should focus on grabbing business opportunities from the ct scanners segment as it accounted for the largest market share in the base year.
      • What are the key global market and the regional market share?
      • What are the revenue-generating key market segments?
      • What are the key factors driving and challenging this market’s growth?
      • Who are the key market vendors and their growth strategies?
      • What are the latest trends influencing the growth of this market?
      • What are the variables influencing the market growth in the primary regions?
      • What are the factors influencing the growth of the parent market?
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      • Details on the market shares of various regions
      • Five-force market analysis

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