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 no defects. Refurbished medical equipment is fully tested, calibrated, clean, and upgraded with new technologies. Refurbished medical equipment’s are cutting-edge medical equipment’s 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’s. The refurbished medical equipment helps in budget constraints in several hospitals and diagnostic centers. The increase in demand for refurbished medical equipment in the private sector boosts the growth of the market in the Asia Pacific. Refurbished medical equipment provides the option to medical professionals to buy top brand equipment at a low price.
The covid 19 impact 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 covid19, 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. The shortage of the availability of new equipment during covid19, enhances the growth of the refurbished medical equipment market globally.
The study analyses the Asia Pacific 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. 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 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 is expected to witness healthy growth in the forecast period. 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, India, China and Japan play an important role in the increasing demand for refurbished medical equipment market in the Asia Pacific region. The advancement in technology, large patient pool and increasing privatization in the health care sector in Japan drives the growth of the refurbished medical equipment market in the country.
The key competitors of the market are Fair Medical Co. Ltd. (Japan), CURA Healthcare (India), among others.
The study analyzed the Asia Pacific 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. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and the Rest of the World.
Why to Buy This Report:
• The report offers changing market dynamics in the refurbished medical equipment market industry, presenting historical, current, and projected market size in terms of value (USD Million).
• The research study provides an in-depth analysis of the industry value chain focusing on the peer and parent markets of the refurbished medical equipment market.
• It presents a comprehensive assessment of geographical regions exhibiting promising growth, potential, and niche segments and a neutral perspective of the refurbished medical equipment market performance.
• The report also offers strategic recommendations in key business segments based on the market estimations and competitive landscape, mapping the key common trends of the refurbished medical equipment market.