Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Refurbished medical equipment is the equipment used after repairing the old one without changing the original content. It is the renovation of the older or damaged equipment to make them workable with free of defects. Refurbished medical equipment is fully tested, calibrated, clean, and upgraded with new technologies. Refurbished medical equipment helps health care professionals to obtain cutting-edge medical equipment with high tested quality. It opens the option to several medical professions to use their old equipment by changing few parts of original equipment which reduces the waste of money.
The technological advancement in the medical profession increases the use of several types of equipment in the medical sector. The rise in chronic diseases, increases in surgeries, and favorable guidelines for the adoption of refurbished medical equipment drive the refurbished medical equipment market globally. The refurbished medical equipment helps in budget constraints in several hospitals and diagnostic centers. Refurbished medical equipment provides the option to medical professionals to buy top brand equipment at a low price which fueled the growth of the refurbished medical equipment market globally.
The covid 19 impacts on the refurbished medical equipment market are estimated to have a positive impact on the market growth. The rising awareness of personal hygiene due to covid 19, increases the demand for the diagnosis technique in hospitals, clinics, and diagnosis center. The pandemic situation creates difficulties for a medical equipment manufacturer. They are facing several problems to make informed decisions about their products and supply chain process. It enhanced the growth of the refurbished medical equipment market globally. The shortage of the availability of new equipment during Covid 19, enhanced the growth of the refurbished medical equipment market globally.
The study analyzed the global refurbished medical equipment market based on type, product and geography.
Types of refurbishment in refurbished medical equipment are cosmetic, parts, and full refurbishment. In the cosmetic refurbishment, only the visual imperfection in equipment is fixed which means it cleaned, painted and repaired the visual aspects. Parts refurbishment includes the change in the faulty parts. Technician changes the faulty part and will get some new parts that reach the OEM standards. Fully refurbishment in refurbished medical equipment means the complete transformation of the equipment. In the full refurbishment, the major internal parts are upgraded to reach OEM standards.
Major products of refurbished medical equipment covered in the study are patient monitors, medical imaging equipment, neurology equipment, operating room and surgical equipment, cardiology equipment, urology equipment, intensive care equipment and other medical equipment. Imaging equipment is constantly evolving and an extremely important aspect in a medical professional. Imaging equipment in refurbished medical equipment witnessed healthy growth in the forecast period and will continue to do so in upcoming years. The factors like the presence of a large number of products under the imaging sector, high utility in healthcare, and long-lasting ability of equipment drives the growth of the imaging equipment sector in the refurbished medical equipment market.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and the Rest of the World. The Asia Pacific held the largest market share of the product information management and is likely to dominate the market over the estimated time frame. The advancement in technology, large patient pool and increasing privatization in the health care sector in the region drive the growth of the refurbished medical equipment market.
The key competitors of the market GE Healthcare (US), Siemens Healthineers (Germany), Block Imaging (US), SOMA TECH INTL. (US), Avante Health Solutions (US), Hilditch Group (UK), Everex Pvt Ltd. (Australia), Integrity Medical Systems, Inc. (the US), Master Medical Equipment (US), Fair Medical Co. Ltd. (Japan), Desert Tech Medical Systems (US), Hi Tech International Group, Inc. (US), CURA Healthcare (India), JAPAN CENTRAL MEDICAL, INC. (Japan), HOYU AND CO., LTD. (Japan), Sanrad Medical Systems (India), BOND JAPAN CO., LTD. (Japan), Amber Diagnostics (US), Rhombus Medical Equipment., LLC (UAE), Blue Start Limited (India), and Cielo Co., Ltd (Japan), among others.
The study analyzed the global refurbished medical equipment market based on type, product and geography. Types of refurbishment in refurbished medical equipment are cosmetic, parts, and full refurbishment. Major products of refurbished medical equipment covered in the study are patient monitors, medical imaging equipment, neurology equipment, operating room and surgical equipment, cardiology equipment, urology equipment, intensive care equipment and other medical equipment. Imaging equipment in refurbished medical equipment witnessed healthy growth in the forecast period and will continue to do so in upcoming years. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and the Rest of the World.
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