Zion Market Research, the market research group announced the analysis report titled “Refurbished Medical Equipment Market: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022”

Sarasota, FL -- (SBWire) -- 01/23/2018 --Zion Market Research has published a new report titled "Refurbished Medical Equipment Market by Product (Operating Room Equipment & Surgical Equipment, Patient Monitors, Medical Imaging Equipment, Defibrillators, Cardiovascular & Cardiology Equipment, Neurology Equipment, Endoscopy Equipment, Intensive Care Systems, Neonatal Intensive Care Systems, IV Therapy Systems, and Other Equipments): Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 - 2022." According to the report, the global refurbished medical equipment market accounted for USD 6.47 Billion in 2016 and is expected to reach USD 13.11 Billion by 2022, growing at a CAGR of around 12.5 % between 2017 and 2022.

To provide patients with the best quality of care possible, diagnostic centers, clinics and hospitals and practitioners must ensure that their medical equipment meets the requirement as per patient population base efficiently. Purchasing the new equipment is an expensive option and may be out of the budget for some medical institutions. Refurbished medical equipment market has been a great boon for them that make the equipment purchase cost efficient and a solution for the budget limitations. It is a great option for underdeveloped countries where the huge patient population but an inadequate number of medical equipment to serve them. So refurbished medical equipment market is expected to show a fast growth within the forecast period.

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Major growth drivers for refurbished medical equipment market are increasing geriatric population coupled with growing incidences of chronic disease and increase awareness about the cost effectiveness of refurbished medical equipment. In addition, large patient population base is also expected to fuel the growth in this market. Furthermore, technological advancements and increasing initiatives taken by the leading medical device manufacturers in this field are also supplemented the market growth within the forecast period. However, a misperception about the quality of refurbished medical equipment is expected to restrain the growth of this market. On the other hand, emerging markets in developing countries can be an opportunity in this market.

Refurbished medical equipment market is segmented on the basis of product and region. Based on product, refurbished medical equipment market can be categorized into; operating room equipment & surgical equipment, patient monitors, medical imaging equipment, defibrillators, cardiovascular & cardiology equipment, neurology equipment, endoscopy equipment, intensive care systems, neonatal intensive care systems, iv therapy systems, and other equipment. Patient monitor equipment is anticipated to attribute to the largest share in the market owing to low production cost and technological advancements to develop more innovative patient monitor products.

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Based on geography, refurbished medical equipment market can be segmented into North America, Europe, Asia Pacific, Latin America and the Middle East and Africa with its further bifurcation into major countries including China, Japan, India, U.S. Germany, France, UK, and Brazil. North America is expected to capture the major share in this market within the forecast period. Major growth driving factors in this region are well-developed healthcare infrastructure and efficient reimbursement policies.

North America is expected to follow by Europe and Asia Pacific in this market within the forecast period. Asia-Pacific is expected to show the fastest growth in this market owing to the rising awareness about the chronic diseases and improving healthcare infrastructure. In addition, the large patient pool is also expected to fuel the demand for refurbished medical equipment in this region within the forecast period. Latin America and Middle East & Africa refurbished medical equipment market is estimated to show a healthy growth within the forecast period.

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Some of the key players include in plant growth market such as Philips Healthcare, GE Healthcare, Siemens Healthineers, Agito Medical A/S, DRE Medical, Inc., Block Imaging International, Inc. , Radiology Oncology Systems, Inc., Soma Technology, Inc. , Everx Pvt Ltd. and Integrity Medical Systems, Inc. among others.

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