Global Refurbished Medical Imaging Equipment Market, 2023-2028
Global Refurbished Medical Imaging Equipment Market, 2023-2028
Analysis of the Refurbished Medical Imaging Equipment, 2023-2028 Market reveals emerging trends, consumer adoption rates, and competitive strategies among leading manufacturers worldwide.
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Market Overview
Refurbished medical equipment is previously used medical equipment that has been restored to its original condition and functionality. These devices can provide a cost-effective and sustainable solution for healthcare institutions in need of new equipment, especially for smaller clinics or hospitals with limited budgets. In addition to being cost-effective, refurbished medical equipment is also a more sustainable option for healthcare institutions. By choosing to refurbish and reuse existing equipment, healthcare providers can significantly reduce the amount of waste generated by disposing of old equipment. Furthermore, the refurbishment process often involves upgrading the equipment with newer technologies and features, which can extend the lifespan of the equipment and make it more efficient and effective. This can help healthcare providers to provide better quality care to their patients while also reducing their overall operating costs.
Refurbished medical imaging equipment includes a wide range of imaging devices used for diagnostic purposes, such as X-ray machines, MRI scanners, CT scanners, ultrasound machines, and others. The refurbishment process for medical imaging equipment typically involves a thorough cleaning and inspection of the equipment, followed by repairs or replacement of any damaged or worn-out parts. The equipment is then tested to ensure that it meets all safety and performance standards before being sold or leased to healthcare providers.
The refurbished medical imaging equipment market has been growing steadily in recent years due to the increasing demand for cost-effective medical equipment. According to the latest research, the global refurbished medical equipment market size was valued at USD 2.4 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.4% from 2023 to 2028.
The market is driven by factors such as the rising demand for affordable medical equipment, increasing awareness about the benefits of refurbished medical equipment, and the growing focus on sustainable healthcare practices. The COVID-19 pandemic has also contributed to the growth of the market, as healthcare providers have been facing budget constraints and supply chain disruptions.
Research Coverage
The refurbished medical imaging equipment market includes a wide range of equipment, including C-arms, computed tomography (CT) scanners, interventional radiology (IXR) systems, magnetic resonance imaging (MRI) systems, ultrasound machines, and others. MRI systems is the largest segment of the market due to the high cost of new equipment and the increasing demand for diagnostic imaging services. Refurbished MRI systems have helped healthcare facilities reduce their expenditure and get access to diagnostic imaging in low-resource settings. For instance, new MRI machine prices can be as high as $1 million or more and high end systems can easily cost close to $3 million. Due to the high costs in some developing and underdeveloped countries, only some large public hospitals have MRI scanning machines.
There are millions of MRI procedures performed each year, making it one of the most common imaging technologies used to diagnose injuries, illnesses, and diseases. Rapid advancements in the medical imaging sector are transforming patient care and providing more accurate and faster diagnoses. However, many imaging providers are being reluctant to invest in new equipment due to cash constraints and financial concerns. Hence for many hospitals and imaging centers, refurbished medical imaging equipment has become a viable solution.
Geographically, North America held the position of being the largest market for refurbished medical imaging equipment. This region's dominance can be attributed to several factors, including the presence of advanced healthcare infrastructure, high healthcare expenditure, and a strong demand for cost-effective medical imaging solutions.
North America, comprising the United States and Canada, boasts a well-established healthcare system with a focus on technological advancements. The region is home to numerous leading medical institutions, hospitals, and diagnostic centers that heavily rely on medical imaging equipment for accurate diagnoses and treatment planning. As a result, there is a significant demand for refurbished medical imaging equipment, which offers a more affordable alternative to new equipment without compromising on quality.
Furthermore, North America's high healthcare expenditure plays a crucial role in driving the market for refurbished medical imaging equipment. The region's commitment to providing quality healthcare services and the willingness to invest in advanced medical technologies contribute to the demand for cost-effective solutions. Refurbished equipment allows healthcare providers to access state-of-the-art imaging technology at a lower cost, enabling them to enhance patient care while managing budget constraints.
Competitive Landscape
The market is highly competitive, with several established players and new entrants offering refurbished medical equipment and related services. Key companies operated in this market include Amber Diagnostics, Inc., Atlantis Worldwide, LLC, Avante Health Solutions (DRE, Inc.), Block Imaging, Inc., Canon Inc., GE HealthCare Technologies Inc., Koninklijke Philips N.V., MXR Imaging Inc. (Oxford Instruments Healthcare), Radiology Oncology Systems, Inc., Siemens Healthineers AG, Soma Technology, Inc.
Key Questions Answered
What is the projected global market size of refurbished medical imaging equipment by 2028
In the refurbished medical imaging equipment market, which product segment attains the foremost position
Which nature of participants segment generates the most substantial revenue
Which region segment achieves the highest performance in the refurbished medical imaging equipment market
Who are the key players with the largest market share in the refurbished medical imaging equipment market
What is the estimated global market size for the refurbished medical imaging equipment market in 2023
What are the main factors driving the growth of the refurbished medical imaging equipment market
What is the expected incremental growth of the refurbished medical imaging equipment market during the forecast period
1. Scope and Methodology
1.1 Introduction
1.2 Report Scope
1.3 Research Methodology
2. Executive Summary
3. Market Overview
4. Global Refurbished Medical Imaging Equipment Market - Product Analysis
4.1 C-arms
4.2 Computed tomography (CT) scanners
4.3 General X-ray machines
4.4 Interventional radiology (IXR) systems
4.5 Magnetic resonance imaging (MRI) scanners
4.6 Ultrasound machines
5. Global Refurbished Medical Imaging Equipment Market - Nature Of Participants Analysis
5.1 Independent service vendors (ISVs)
5.2 Original equipment manufacturers (OEMs)
6. Global Refurbished Medical Imaging Equipment Market - Region Analysis
6.1 North America
6.2 Asia Pacific
6.3 Europe
6.4 Rest of the World (ROW)
7. Patents Analysis
8. Competitive Landscape
8.1 Competitive Scenario
8.2 Market Positioning/Share Analysis
8.3 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
9. Company Profiles
9.1 Amber Diagnostics, Inc.
9.2 Atlantis Worldwide, LLC
9.3 Avante Health Solutions (DRE, Inc.)
9.4 Block Imaging, Inc.
9.5 Canon Inc.
9.6 GE HealthCare Technologies Inc.
9.7 Koninklijke Philips N.V.
9.8 MXR Imaging Inc. (Oxford Instruments Healthcare)
9.9 Radiology Oncology Systems, Inc.
9.10 Siemens Healthineers AG
9.11 Soma Technology, Inc.
APPENDIX
DISCLAIMER
Research Methodology:
Refurbished Medical Imaging Equipment, 2023-2028 Market Size Estimation
To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.
Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.
Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.
We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.
Data Source
Secondary Sources
This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.
These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.
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Primary Sources
As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.
On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.
These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.
Key Data Information from Primary Sources
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