Summary: Technavio reports the global refurbished medical imaging equipment market is projected to grow by $5.9 billion by 2027, driven by increased demand for cost-effective solutions in healthcare, sustainability practices, and market expansion in emerging regions, despite challenges like quality concerns and OEM restrictions.
Key Takeaways:
- The refurbished medical imaging equipment market is expected to grow significantly, driven by a CAGR of over 7.63% from 2023 to 2027.
- High demand is anticipated for refurbished imaging devices due to rising medical needs and budget constraints in healthcare.
- Market growth faces challenges from perceived quality issues and potential restrictions from original equipment manufacturers (OEMs).
The global refurbished medical imaging equipment market size is estimated to grow by $5.9 billion from 2023 to 2027, according to Technavio. Technavio forecasts a compound annual growth rate of over 7.63% during the 4-year period.
Refurbished Equipment Demand Drivers
X-ray machines, ultrasound systems, MRI machines, and CT scanners equipment are expected to be in high demand due to the rise in chronic conditions, medical events, and the increasing number of breast cancer cases. Budget constraints at healthcare facilities will also drive the adoption of refurbished equipment in healthcare facilities.
Sustainability and Market Challenges
Sustainability and eco-friendly practices have partly driven the market growth along with interest from emerging markets that can benefit from things like warranties, guarantees, and tax benefits. However, challenges such as perceived inferior quality, OEM restrictions, and low resale value pose significant hurdles.
Technavio Refurbished Equipment Report Scope
The data and market analysis comes from a recent report by Technavio titled, “Global Refurbished Medical Imaging Equipment Market 2023-2027.” The report covers market segmentation by product, end-user, and geography and includes an in-depth analysis of drivers, trends, and challenges.
