Overview


According to FutureWise analysis the market for refurbished medical devices in 2023 is US$ 11.07 billion, and is expected to reach US$ 27.06 billion by 2031 at a CAGR of 11.8%.

Growing insistence for diagnostic imaging equipment that are capital intensive, increasing prioritization for environment-friendly products, rising inventory of used medical devices, growing number of hospitals and diagnostic centres are some of the key factors responsible for the growth of the market. Conversely, strict regulations on the usage and import of refurbished medical devices along with the dearth of policy standardization of selling and using refurbished equipment, increased influx of newer medical devices that are lower in cost than refurbished devices and the negative notion regarding the quality of refurbished devices shall impede the Refurbished Medical Devices Market growth.

  • Ge Healthcare 
  • Siemens Healthineers 
  • Koninklijke Philips N.V. 
  • Block Imaging
  • Soma Tech Intl.
  • Avante Health Solutions
  • Hilditch Group
  • Everx Pvt Ltd. 
  • Integrity Medical Systems Inc.
  • Radiology Oncology Systems Inc.
  • Master Medical Equipment
  • US Med-Equip
  • Fair Medical Co. Ltd.
  • Future Health Concepts
  • US Medical Systems, LLC.
  • Nationwide Imaging Services
  • Pacific Healthcare Imaging, LLC
  • Venture Medical ReQuip, Inc.
  • Desert Tech Medical Systems
  • Hi Tech International Group, Inc.

(Note: The list of the major players will be updated with the latest market scenario and trends)

By Product

  • Medical Imaging Equipment
    • X-ray Machines
    • Ultrasound Systems
    • MRI Machines
    • CT Scanners
    • Nuclear Imaging Systems
    • Other Medical Imaging Equipment
  • Operating Room and Surgical Equipment
    • Anesthesia Machines
    • Operating Room Tables and Lights
    • Surgical Displays
    • Electrosurgical Units
    • Other Operating Room and Surgical Equipment
  • Patient Monitors
    • Multi-parameter Monitors
    • Electrocardiography Devices
    • Pulse Oximeters
    • Mobile Cardiac Telemetry Devices
    • Non-invasive Blood Pressure Monitors
    • Fetal Monitors
    • Other Patient Monitors
  • Cardiology Equipment
    • Heart-lung Machines
    • Defibrillators
    • Other Cardiology Equipment
  • Urology Equipment
    • Dialysis Machines
    • Lithotripsy Devices
  • Neurology Equipment
    • EEG Machines
    • EMG Machines
  • Intensive Care Equipment
    • Ventilators
    • Infant Incubators and Warmers
  • Endoscopy Equipment
  • IV Therapy Systems
  • Other Medical Equipment

By Application

  • Diagnostic
    • Cardiology
    • Urology
    • Neurology
    • Orthopedics
    • Physiology
    • Emergency Medicine
    • Oncology
    • Obstetrics/Gynecology (OB/GYN)
    • Other Diagnostic Applications
  • Therapeutic
    • Cardiology
    • Urology
    • Neurology
    • Orthopedics
    • Physiology
    • Emergency Medicine
    • Oncology
    • Obstetrics/Gynecology (OB/GYN)
    • Other Therapeutic Applications

By End User

  • Hospitals
  • Ambulatory Care Centers
  • Diagnostic Imaging Centers
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa


The market is fragmented into product, application, end user and region. The product segment is classified into operating room and surgical equipment, cardiology equipment, medical imaging equipment, patient monitors, neurology equipment, urology equipment, intensive care equipment, IV therapy systems, endoscopy equipment and other equipment. The medical equipment segment is anticipated to hold the largest Refurbished Medical Devices Market share and this can be credited to factors like its high usage in the clinical and healthcare sectors, its capability of lasting long, increased insistence for non-invasive imaging and early diagnosis of diseases. The procedure segment is diversified into therapeutic and diagnostic procedures. The diagnostic procedures segment is predicted to dominate the market owing to higher costs of newer medical imaging equipment, a wide application range of diagnostic imaging and approvals from regulatory bodies for using refurbished products. The end user segment is categorised into ambulatory surgical centres, diagnostic imaging centres, hospitals and other end users. The hospital segment is anticipated to lead the market, and this can be credited to rising emphasis of hospitals on offering affordable medical care, growing acceptance of refurbished medical devices.

The Asia Pacific region is predicted to grow at a substantial rate during the forecast period and this can be credited to the rising patient population, growing privatization in the healthcare industry, higher insistence for refurbished devices in emerging nations who are unable to afford new medical equipment.

  • Tier 1 players- established companies in the market with a major market share
  • Tier 2 players
  • Emerging players which are growing rapidly
  • New Entrants

  • Growth prospects
  • SWOT analysis
  • Key trends
  • Key data-points affecting market growth

  • To provide with an exhaustive analysis on the global Refurbished Medical Devices Market By Product, By Application, By End User and By Region
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  • To evaluate and forecast micro-markets and the overall market
  • To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East and Africa
  • To record, evaluate and analyze competitive landscape mapping- product launches, technological advancements, mergers and expansions

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Table of Contents


  • 1.   Market Introduction
    •   1. Objectives of the Study
        2. Market Definition
        3. Market Scope
         3.1. Years Considered for the Study
         3.2. Market Covered
        4. Currency
        5. Limitations
        6. Stakeholders
  • 2.   Research Methodology
    •   1. Research Data
         1.1. Secondary Data
          1.1.1. Key Data from Secondary Sources
         1.2. Primary Data
          1.2.1. Key Data from Primary Sources
        2. Market Size Estimation
        3. Market Breakdown and Data Triangulation
        4. Assumptions for the Study
  • 3.   Executive Summary
    •   1. Market Outlook
        2. Segment Outlook
        3. Competitive Insights
  • 4.   Refurbished Medical Devices Market Variables, Trends and Scope
    •   1. Market Lineage Outlook
        2. Penetration and Growth Prospect Mapping
        3. Industry Value Chain Analysis
        4. Cost Analysis Breakdown
        5. Technology Overview
        6. Regulatory Framework
         6.1. Reimbursement Framework
         6.2. Standards and Compliances

  • 5.   Market Overview
    •   1. Market Dynamics
         1.1. Market Driver Analysis
          1.1.1. Increasing focus of Refurbished Medical Devices Market Companies on Brand Protection
          1.1.2. Untapped Opportunities in Emerging Regions
         1.2. Market Restraint Analysis
          1.2.1. High Cost Associated with Implementation of Predictive Analysis
         1.3. Industry Challenges
          1.3.1. Presence of Ambiguous Regulatory Framework
  • 6.   Refurbished Medical Devices Market Analysis Tools
    •   1. Industry Analysis - Porter’s
         1.1. Supplier Power
         1.2. Buyer Power
         1.3. Substitution Threat
         1.4. Threat from New Entrants
         1.5. Competitive Rivalry
        2. Pestel Analysis
         2.1. Political Landscape
         2.2. Environmental Landscape
         2.3. Social Landscape
         2.4. Technology Landscape
         2.5. Legal Landscape
        3. Major Deals And Strategic Alliances Analysis
         3.1. Joint Ventures
         3.2. Mergers and Acquisitions
         3.3. Licensing and Partnership
         3.4. Technology Collaborations
         3.5. Strategic Divestments
        4. Market Entry Strategies
        5. Case Studies
  • 7.   Refurbished Medical Devices Market, By Product Historical Analysis and Forecast 2023-2031 (USD Million)
    •   1. Medical Imaging Equipment
         1.1. X-ray Machines
         1.2. Ultrasound Systems
         1.3. MRI Machines
         1.4. CT Scanners
         1.5. Nuclear Imaging Systems
         1.6. Other Medical Imaging Equipment
        2. Operating Room and Surgical Equipment
         2.1. Anesthesia Machines
         2.2. Operating Room Tables and Lights
         2.3. Surgical Displays
         2.4. Electrosurgical Units
         2.5. Other Operating Room and Surgical Equipment
        3. Patient Monitors
         3.1. Multi-parameter Monitors
         3.2. Electrocardiography Devices
         3.3. Pulse Oximeters
         3.4. Mobile Cardiac Telemetry Devices
         3.5. Non-invasive Blood Pressure Monitors
         3.6. Fetal Monitors
         3.7. Other Patient Monitors
        4. Cardiology Equipment
         4.1. Heart-lung Machines
         4.2. Defibrillators
         4.3. Other Cardiology Equipment
        5. Urology Equipment
         5.1. Dialysis Machines
         5.2. Lithotripsy Devices
        6. Neurology Equipment
         6.1. EEG Machines
         6.2. EMG Machines
        7. Intensive Care Equipment
         7.1. Ventilators
         7.2. Infant Incubators and Warmers
        8. Endoscopy Equipment
        9. IV Therapy Systems
        10. Other Medical Equipment

  • 8.   Refurbished Medical Devices Market, By Application Historical Analysis and Forecast 2023-2031 (USD Million)
    •   1. Diagnostic
         1.1. Cardiology
         1.2. Urology
         1.3. Neurology
         1.4. Orthopedics
         1.5. Physiology
         1.6. Emergency Medicine
         1.7. Oncology
         1.8. Obstetrics/Gynecology (OB/GYN)
         1.9. Other Diagnostic Applications
        2. Therapeutic
         2.1. Cardiology
         2.2. Urology
         2.3. Neurology
         2.4. Orthopedics
         2.5. Physiology
         2.6. Emergency Medicine
         2.7. Oncology
         2.8. Obstetrics/Gynecology (OB/GYN)
         2.9. Other Therapeutic Applications

  • 9.   Refurbished Medical Devices Market, By End User Historical Analysis and Forecast 2023-2031 (USD Million)
    •   1. Hospitals
        2. Ambulatory Care Centers
        3. Diagnostic Imaging Centers
        4. Others

  • 10.   North America Refurbished Medical Devices Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. U.S.A
         2.2. Canada
         2.3. Mexico
        3. Market Size (USD Million) Forecast for North America 2023-2031

  • 11.   Latin America Refurbished Medical Devices Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. Brazil
         2.2. Venezuela
         2.3. Argentina
         2.4. Rest of Latin America
        3. Market Size (USD Million) Forecast for Latin America 2023-2031

  • 12.   Europe Refurbished Medical Devices Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. Germany
         2.2. U.K
         2.3. France
         2.4. Italy
         2.5. Spain
         2.6. Russia
         2.7. Poland
         2.8. Rest of Europe
        3. Market Size (USD Million) Forecast for Europe 2023-2031

  • 13.   Asia Pacific Refurbished Medical Devices Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. Japan
         2.2. China
         2.3. India
         2.4. Australia and New Zealand
         2.5. ASEAN
         2.6. Rest of Asia Pacific
        3. Market Size (USD Million) Forecast for Asia Pacific 2023-2031

  • 14.   Middle East and Africa Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. GCC
         2.2. Israel
         2.3. South Africa
         2.4. Rest of MEA
        3. Market Size (USD Million) Forecast for MEA 2023-2031

  • 15.   Market Share Analysis and Competitive Landscape
    •   1. Global Landscape - Key Players, Revenue and Presence
        2. Global Share Analysis - Key Players (Tier 1, Tier 2, Tier 3)
        3. Global Emerging Companies
        4. North America - Market Share Analysis and Key Regional Players
        5. Europe - Market Share Analysis and Key Regional Players
        6. Asia Pacific - Market Share Analysis and Key Regional Players
        7. Global Key Player - Growth Matrix
  • 16.   Company Profiles (Competition Dashboard, Competitors Deep Dive, Products Offered and Financial Layouts)
    •   1. GE Healthcare
         1.1. Company Overview
         1.2. Product Portfolio
         1.3. SWOT Analysis
         1.4. Financial Overview
         1.5. Strategic Overview
        2. Siemens Healthineers
         2.1. Company Overview
         2.2. Product Portfolio
         2.3. SWOT Analysis
         2.4. Financial Overview
         2.5. Strategic Overview
        3. Koninklijke Philips N.V.
         3.1. Company Overview
         3.2. Product Portfolio
         3.3. SWOT Analysis
         3.4. Financial Overview
         3.5. Strategic Overview
        4. Block Imaging
         4.1. Company Overview
         4.2. Product Portfolio
         4.3. SWOT Analysis
         4.4. Financial Overview
         4.5. Strategic Overview
        5. Soma Tech Intl
         5.1. Company Overview
         5.2. Product Portfolio
         5.3. SWOT Analysis
         5.4. Financial Overview
         5.5. Strategic Overview
        6. Avante Health Solutions
         6.1. Company Overview
         6.2. Product Portfolio
         6.3. SWOT Analysis
         6.4. Financial Overview
         6.5. Strategic Overview
        7. Hilditch Group
         7.1. Company Overview
         7.2. Product Portfolio
         7.3. SWOT Analysis
         7.4. Financial Overview
         7.5. Strategic Overview
        8. Everx Pvt Ltd.
         8.1. Company Overview
         8.2. Product Portfolio
         8.3. SWOT Analysis
         8.4. Financial Overview
         8.5. Strategic Overview
        9. Integrity Medical Systems Inc.
         9.1. Company Overview
         9.2. Product Portfolio
         9.3. SWOT Analysis
         9.4. Financial Overview
         9.5. Strategic Overview
        10. Radiology Oncology Systems Inc.
         10.1. Company Overview
         10.2. Product Portfolio
         10.3. SWOT Analysis
         10.4. Financial Overview
         10.5. Strategic Overview
        11. Master Medical Equipment
         11.1. Company Overview
         11.2. Product Portfolio
         11.3. SWOT Analysis
         11.4. Financial Overview
         11.5. Strategic Overview
        12. US Med-Equip
         12.1. Company Overview
         12.2. Product Portfolio
         12.3. SWOT Analysis
         12.4. Financial Overview
         12.5. Strategic Overview
        13. Fair Medical Co. Ltd.
         13.1. Company Overview
         13.2. Product Portfolio
         13.3. SWOT Analysis
         13.4. Financial Overview
         13.5. Strategic Overview
        14. Future Health Concepts
         14.1. Company Overview
         14.2. Product Portfolio
         14.3. SWOT Analysis
         14.4. Financial Overview
         15.5. Strategic Overview
        15. US Medical Systems, LLC
         15.1. Company Overview
         15.2. Product Portfolio
         15.3. SWOT Analysis
         15.4. Financial Overview
         15.5. Strategic Overview
        16. Nationwide Imaging Services
         16.1. Company Overview
         16.2. Product Portfolio
         16.3. SWOT Analysis
         16.4. Financial Overview
         16.5. Strategic Overview
        17. Pacific Healthcare Imaging
         17.1. Company Overview
         17.2. Product Portfolio
         17.3. SWOT Analysis
         17.4. Financial Overview
         17.5. Strategic Overview
        18. Venture Medical ReQuip, Inc.
         18.1. Company Overview
         18.2. Product Portfolio
         18.3. SWOT Analysis
         18.4. Financial Overview
         18.5. Strategic Overview
        19. Desert Tech Medical Systems
         19.1. Company Overview
         19.2. Product Portfolio
         19.3. SWOT Analysis
         19.4. Financial Overview
         19.5. Strategic Overview
        20. Hi Tech International Group, Inc.
         20.1. Company Overview
         20.2. Product Portfolio
         20.3. SWOT Analysis
         20.4. Financial Overview
         20.5. Strategic Overview

  • 17.   Pre and Post COVID-19 Impact
    •   1. Positive influence on the healthcare industry
        2. The financial disruption of the manufacturing sector
        3. Impact of COVID-19 on emerging companies
        4. Significant mandates in the regulations initiated by healthcare
                  administrations
        5. The overall economic slowdown of the developing and developed nations

  • 18.   FutureWise SME Key Takeaway Points for Client
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