Increase in mergers and acquisitions, rise in demand for advanced imaging equipment, and cost constraint methods adopted by health care facilities such as hospitals and diagnostic centers are expected to augment demand for refurbished medical imaging equipment market.
The vendor landscape of the global market for refurbished medical imaging equipment features a largely
concentrated nature in established regional markets such as Europe and North America, with companies
increasingly focusing on expansion in untapped regional markets for better growth prospects, observes
Transparency Market Research in a recent report.
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As such, focus on strategic alliances with domestic medical device companies has significantly increased.
Companies are also ploughing more funds into activities aimed at improving their repair facilities and
expanding their operations to be able to process larger volumes in face of increased demand.
Some of the leading vendors operating in the global refurbished or remanufactured medical equipment
market are Koninklijke Philips N.V., GE Healthcare, Atlantis Worldwide LLC., Siemens Healthineers AG,
Canon Medical Systems Corporation, and Fujifilm Holding Corporation.
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According to the report, the market is expected to register a promising 5.4% CAGR over the period
between 2018 and 2026, rising from a valuation of US$ 903.2 mn in 2017 to a revenue opportunity of
US$1,443.3 mn by 2026. Geographically, the market in North America is presently the leading revenue
contributor to the global market, thanks to the high concentration of several leading players and the vast
rise in R&D activities concerned with refurbishment practices for medical devices. In terms of end-user,
the segment of hospitals continues to account for a dominant share in the market.
Demand for Refurbished Medical Equipment Remains High in Emerging Economies
Refurbishment is a highly organized practice for inspecting the efficacy and safety of a used equipment so
that all safety parameters are met before the equipment can be reused, without changing its use a