The global refurbished medical imaging equipment market is slated to grow at a compound annual growth rate of 8.09% from 2017 to 2021, according to a new study by Research and Markets. Driving the market is the increasing adoption of eco-friendly practices, researchers say.
After all, refurbishment of used or preowned medical equipment helps to save energy and resources while preventing unnecessary waste and allowing better access to affordable quality equipment. And exposure to medical device waste can also cause cancer and other serious health issues, Research and Markets officials add.
Moreover, another driver for the global refurbished medical imaging market is heightened demand for cost-effective and efficient medical imaging devices. Since most of the global population lacks access to quality healthcare services—particularly in developing countries—it’s a situation that is even more pronounced.
What’s more, Research and Markets officials say, steep research and development and manufacturing costs are involved in the design and development of new advanced medical imaging equipment.
Even so, one major hurdle to overcome in the market is the perception that refurbished medical imaging equipment is inferior to new systems. Many large hospitals and physicians have concerns regarding refurbished equipment’s quality and durability—although those in the market say these fears are largely unfounded.