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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Pre-owned medical devices are earlier owned by any healthcare institution and later subject to sale or repurchase after refurbishment. Use of pre-owned medical devices requires European certification and CE mark in the Europe.

The global pre-owned medical devices market is estimated to be valued at US$ 6,023.8 million in 2021 and is expected to exhibit a CAGR of 10.5 % over the forecast period (2021-2028).

Recent Developments:

On September 1-3, 2021, Soma Tech Intl participated in the International FIME (Florida International Medical Expo), in Florida, Miami, U.S. Current year 2021 marks the 30th year of FIME, which is the Americas’ leading medical trade fair and exhibition, gathering thousands of medical device and equipment manufacturers and suppliers, dealers, distributors, and other healthcare professionals from across the North, Central, South America, and the Caribbean.

On April 15, 2021, Siemens Healthineers has acquired Varian Medical Systems, Inc., strengthening Siemens position as a holistic partner in healthcare

On January 2021, Philips has announced to acquire Capsule Technologies which is a provider of data platforms that aim to connect all of the medical devices and record systems within a hospital—to help build out its integrated care and vital sign monitoring solutions.

North America held dominant position in the global pre-owned medical devices market in 2020, accounting for 38.1% share in terms of volume, followed by Europe and Asia Pacific, respectively. Growth of North America Pre-Owned Medical Devices Market can be attributed to established healthcare infrastructure, higher healthcare expenditure, and cost-effective medical devices available in the region

Figure 1. Global Pre-owned Medical Devices Market Value (US$ Mn), by Region, 2020

Pre-owned Medical Devices  | Coherent Market Insights

Global Pre-owned Medical Devices Market: Drivers

High cost of new medical devices is expected to propel growth of the global pre-owned medical devices market over the forecast period. For instance, surgical robots can cost as high as US$ 1.85 million to US$ 2.3 million.

Moreover, favorable after- / post- sales services are also expected to aid in growth of the market. Many of the market participants / players such as the OEMs, third-party refurbishers and stand-alone refurbishers offer customized / favorable after- / post- sales services after sale of refurbished pre-owned medical devices.

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Pre-owned Medical Devices Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 6,023.8 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 10.5% 2028 Value Projection: US$ 12,146.1 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Type: X-ray, Mammography Machines, CT Machines, MRI Machines, Ultrasound Machines, Nuclear Imaging and Medicine Devices, C-arm Devices
Companies covered:

GE Healthcare Ltd., Philips Healthcare, Siemens Healthcare, Canon Medical Systems Corporation, AGITO Medical A/S, Probo Medical, Advanced Ultrasound Electronics, and Soma Technology, Inc

Growth Drivers:
  • High cost of new medical devices 
  • Favorable after- / post- sales services
Restraints & Challenges:
  • Initiatives to ban pre-owned medical devices
  • Negative perception about the quality of the refurbished pre-owned medical devices

Global Pre-owned Medical Devices Market: Opportunities 

Refurbishment of CT machines, nuclear imaging and medicine devices, and c-arm devices is expected to offer lucrative growth opportunities for players in the global pre-owned medical devices market. This is owing to high cost of CT machines, nuclear imaging and medicine devices, and c-arm devices.

Moreover, growing concerns regarding e-waste is also expected to aid in growth of the market. Environmental impact of any manufacturing process is considered of prime importance. Disposing of the used / end of life - cycle medical devices requires replacement of such medical devices and a consequent need for manufacturing new devices. Such practices are increasingly being re-considered for the environmental impact.

Market Trends

Increasing prevalence of Covid-19 has led countries to limit the export of medical devices. For instance, in March 2020, European Union announced emergency export restrictions on some hospital supplies in wake of the COVID-19 pandemic.

The market is witnessing increasing M&A activities. For instance, in February 2020, The InterMed Group acquired Sigma Imaging Technologies, a provider of MRI/CT/PET systems including mobile units, and offers equipment evaluation, refurbishment, installation, removal, relocation and storage.

Figure 2. Global Pre-owned Medical Devices Market Share, By Type, 2020

Pre-owned Medical Devices  | Coherent Market Insights

Key Takeaways of the Graph:

  • Among type, the CT Machines held dominant position in the market and accounted for 28.3% share in the global pre-owned medical devices market in 2020. The segment is expected to reach US$ 3,687.9 million in 2028.
  • Dominance of CT Machines segment in 2020 can be ascribed to wide application of CT machines for diagnostics, affordable pricing, and more product offerings for pre-owned medical device providers.

Global Pre-owned Medical Devices Market: Restraints

Initiatives to ban pre-owned medical devices are expected to hinder growth of the global pre-owned medical devices market. For instance, The Association of Indian Medical Device Manufacturers (AiMeD) has strongly opposed the idea of permitting the import of any kind of pre-owned and refurbished medical equipment on the grounds of serious health safety issues.

Moreover, negative perception about the quality of the refurbished pre-owned medical devices is also expected to limit growth of the market. There exists widespread negative perception about the efficacy and accuracy of the results given by refurbished pre-owned medical devices. Many customer entities prefer new medical devices.

Global Pre-owned Medical Devices Market: Competitive Landscape

Major players operating in the global pre-owned medical devices market include, GE Healthcare Ltd., Philips Healthcare, Siemens Healthcare, Canon Medical Systems Corporation, AGITO Medical A/S, Probo Medical, Advanced Ultrasound Electronics, and Soma Technology, Inc.

Global Pre-owned Medical Devices Market: Key Developments

Major players in the market offer rental services. For instance, in September 2019, AGITO Medical announced that its Rental Solutions division is now available through NHS Supply Chain.

Pre-owned medical devices are previously owned by a healthcare facility and afterwards, repurchased or re-sold after refurbishing. Refurbishing is complete refurbishing of a used device with functional improvements including aesthetic changes and full end to end functionality. A wide variety of medical equipment and supplies can be purchased through a pre-owned medical device resale company. The equipment is made to current recommended standards and performance levels. Many quality brands are available at affordable prices through online dealers. United States remains to be the largest market for used and refurbished medical devices and supplies worldwide. For manufacturers and suppliers, the opportunities presented by the U.S. market are tremendous.

Market Dynamics:

The global pre-owned medical devices market is witnessing several partnership strategies. For instance, in August 2021, Mindray North America, a medical imaging developer, partnered with Probo Medical, a seller of refurbished medical equipment to healthcare practices worldwide, for the distribution of its ultrasound systems.

Key features of the study:

  • This report provides in-depth analysis of the global pre-owned medical devices market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global pre-owned medical devices market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include GE Healthcare Ltd., Philips Healthcare, Siemens Healthcare, Canon Medical Systems Corporation, AGITO Medical A/S, Probo Medical, Advanced Ultrasound Electronics, and Soma Technology, Inc.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global pre-owned medical devices market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global pre-owned medical devices market

Detailed Segmentation:

  • Global Pre-owned Medical Devices Market, By Type:
    • X-ray
    • Mammography Machines
    • CT Machines
    • MRI Machines
    • Ultrasound Machines
    • Nuclear Imaging and Medicine Devices
    • C-arm Devices
  • Global Pre-owned Medical Devices Market, By Region:
    • North America
      • North America Pre-owned Medical Devices Market , By Type:
        • X-ray
        • Mammography Machines
        • CT Machines
        • MRI Machines
        • Ultrasound Machines
        • Nuclear Imaging and Medicine Devices
        • C-arm Devices
      • By Country
        • U.S.
        • Canada
    • Latin America
      • Latin America Pre-owned Medical Devices Market , By Type:
        • X-ray
        • Mammography Machines
        • CT Machines
        • MRI Machines
        • Ultrasound Machines
        • Nuclear Imaging and Medicine Devices
        • C-arm Devices
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Europe Pre-owned Medical Devices Market , By Type:
        • X-ray
        • Mammography Machines
        • CT Machines
        • MRI Machines
        • Ultrasound Machines
        • Nuclear Imaging and Medicine Devices
        • C-arm Devices
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Asia Pacific Pre-owned Medical Devices Market , By Type:
        • X-ray
        • Mammography Machines
        • CT Machines
        • MRI Machines
        • Ultrasound Machines
        • Nuclear Imaging and Medicine Devices
        • C-arm Devices
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • Middle East Pre-owned Medical Devices Market , By Type:
        • X-ray
        • Mammography Machines
        • CT Machines
        • MRI Machines
        • Ultrasound Machines
        • Nuclear Imaging and Medicine Devices
        • C-arm Devices
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Africa Pre-owned Medical Devices Market , By Type:
        • X-ray
        • Mammography Machines
        • CT Machines
        • MRI Machines
        • Ultrasound Machines
        • Nuclear Imaging and Medicine Devices
        • C-arm Devices
      • By Country
        • North Africa
        • Central Africa
        • South Africa
  • Company Profiles
    • GE Healthcare Ltd.*
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategy
    • Philips Healthcare
    • Siemens Healthcare
    • Canon Medical Systems Corporation
    • AGITO Medical A/S
    • Probo Medical
    • Advanced Ultrasound Electronics
    • Soma Technology, Inc.

“*” marked represents similar segmentation in other categories in the respective section

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Type
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Developments
    • Technological Advancement
    • Regulatory Scenario
    • Reimbursement Scenario
    • PEST Analysis
    • Pricing Analysis
  4. Global Pre-owned Medical Devices Market, By Type, 2017 – 2028 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2018–2028
      • Segment Trends
    • X-ray
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
      • Segment Trends
    • Mammography Machines
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
      • Segment Trends
    • CT Machines
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
      • Segment Trends
    • MRI Machines
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
      • Segment Trends
    • Ultrasound Machines
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
      • Segment Trends
    • Nuclear Imaging and Medicine Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
      • Segment Trends
    • C-arm Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
      • Segment Trends
  5. Global Pre-owned Medical Devices Market, By Region, 2017 – 2028 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2018–2028
      • Regional Trends
    • North America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, By Type, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By Country, 2017 – 2028, (US$ Mn)
        • U.S.
        • Canada
    • Latin America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, By Type, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By Country, 2017 – 2028, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, By Type, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By Country, 2017 – 2028, (US$ Mn)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, By Type, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By Country, 2017 – 2028, (US$ Mn)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Middle East
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, By Type, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By Country, 2017 – 2028, (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, By Type, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By Country, 2017 – 2028, (US$ Mn)
        • North Africa
        • Central Africa
        • South Africa
  6. Competitive Landscape
    • Company Profiles
      • GE Healthcare Ltd.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Philips Healthcare
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Siemens Healthcare
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Canon Medical Systems Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • AGITO Medical A/S
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Probo Medical
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Advanced Ultrasound Electronics
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Soma Technology, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
  7. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 28 market data tables and 18 figures on “Pre-owned Medical Devices Market – Global forecast to 2027.

FAQgrowicon

Frequently Asked Questions

High cost of new medical devices and favorable after- / post- sales services are the factors boosting demand for pre-owned medical devices.
Initiatives to ban pre-owned medical devices and negative perception about the quality of the refurbished pre-owned medical devices are key factors hampering the growth of market.
The market was valued at US$ 5,447.3 million in 2020.
North America held dominant position in the market in 2020.
The market is witnessing increasing M&A activities and limit in export of medical devices due to the emergence of Covid-19.
Major players operating in the market include, GE Healthcare Ltd., Philips Healthcare, Siemens Healthcare, Canon Medical Systems Corporation, AGITO Medical A/S, Probo Medical, Advanced Ultrasound Electronics, and Soma Technology, Inc.
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