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Overview
Refurbished medical imaging devices or used medical imaging devices are those that were previously owned by someone else and now have gone through an approved standardized refurbishment process that involves thorough inspection, appropriate repairs, worn parts replacements, recalibration, and function & quality assurance testing, to ensure original manufacturer stated performance standards and safety levels. Refurbishment of medical imaging devices allows for functional performance, and safety, at levels equivalent to new medical devices at significantly lower prices. Hospitals, diagnostic imaging centers and clinics purchase and use refurbished imaging devices to demonstrate responsible use of funds and resource sensitive applications, in addition to their benefits of sustainability, extended lifespan of the medical equipment itself, and decreases electronic waste within the health care industry. Refurbished medical devices are particularly valuable to rural hospitals, diagnostic imaging centres, and emerging markets that need affordable quality imaging devices.
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Cost effectiveness & affordability of refurbished medical imaging devices to drive market growth
An overwhelming demand for more cost-effective options in the healthcare sector is a key factor driving the refurbished medical imaging devices market. Refurbished devices are sold for significantly lower prices (~50% lower priced as compared to new equipment), thus making it affordable for smaller, inpatient hospital facilities and outpatient clinics with limited budgets. Purchasing refurbished devices allows healthcare providers to spend capital on other essential elements while acquiring tried and tested, reliable, quality imaging equipment that meets safety standards. Refurbished devices typically come with warranties and service support which improve buyer assurance. The ability to upgrade more frequently and access advanced equipment without the premium price further drive the market growth.
Growth of third-party refurbishment service providers - A key market trend
The rise of third-party refurbishment service providers is a significant trend in this market, which is propelled by the increasing demand for low-cost budget-friendly diagnostic equipment and growing access to medical imaging in emerging markets. Independent refurbishment service providers, also known as commercial refurbishers, are providing low-cost alternatives to OEM-certified systems lesser price and usually at a quicker turnaround time and with locally serviced support. Independent refurbishment service providers refurbish and resell CT, MRI, ultrasound and other modalities to satisfy small clinics and budget-strapped hospitals. Faced with increased competition, independent refurbishment service providers are improving their capabilities with quality certifications, warranty packages, and various value-added services, contributing to market growth while increasing choices for healthcare providers worldwiinstance, in January 2022, Probo Medical, acquired REMETRONI with a view to establish their presence in North America.
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Competitive Landscape Analysis
The global refurbished medical imaging devices market is marked by the presence of established and emerging market players such as GE Healthcare; Koninklijke Philips N.V.; Siemens Healthineers; Canon Medical Systems Corporation; Hitachi, Ltd.; Agito Medical; Block Imaging, Inc.; Radiology Oncology Systems; Avante Health Solutions; and Probo Medical; among others. Some of the key strategies adopted by market players include new product development, strategic partnerships and collaborations, and geographic expansion.
Report Scope
| Report Metric | Details |
| Base Year Considered | 2024 |
| Historical Data | 2023 - 2024 |
| 2025 - 2030 | |
| 9% | |
| Market Drivers |
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| Segment Scope | Modality, Application, End User |
| Regional Scope |
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| Key Companies Mapped | GE Healthcare; Koninklijke Philips N.V.; Siemens Healthineers; Canon Medical Systems Corporation; Hitachi, Ltd.; Agito Medical; Block Imaging, Inc.; Radiology Oncology Systems; Avante Health Solutions; and Probo Medical; among others |
| Report Highlights | Market Size & Forecast, Growth Drivers & Restraints, Trends, Competitive Analysis |
Global Refurbished Medical Imaging Devices Market Segmentation
This report by Medi-Tech Insights provides thesize of the global refurbished medical imaging devices market at theregional- and country-level from 2023 to 2030. The report further segments the market based on modality, application, and end user.
Market Size & Forecast (2023-2030), By Modality, USD Million
- X-ray Systems
- Ultrasound Systems
- Computed Tomography (CT) Scanners
- Magnetic Resonance Imaging (MRI) Systems
- Nuclear Imaging Systems
- Others
Others Market Size & Forecast (2023-2030), By Application, USD Million
- Oncology
- Obstetrics and Gynaecology
- Cardiology and Vascular Imaging
- Neurology
- Orthopedics
- General Imaging
- Other4>Market Size & Forecast (2023-2030), By End User, USD Million
- Hospitals
- Diagnostic Imaging Centers
- Ambulatory Surgical Centers (ASCs)
- Others
Market Size & Forecast (2023-2030), By Region, USD Million
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
Key Strategic Questions Addressed
- What is the market size & forecast of the refurbished medical imaging devices market?
- What are historical, present, and forecasted market shares and growth rates of various segments and sub-segments of the refurbished medical imaging devices market?
- What are the key trends defining the market?
- What are the major factors impacting the market?
- What are the opportunities prevailing in the market?
- Which region has the highest share in the global market? Which region is expected to witness the highest growth rate in the next 5 years?
- Who are the major players operating in the market?
- What are the key strategies adopted by players?
Need a More Tailored Analysis?
- Discuss the market sizing methodology and forecast assumptions with our healthcare analysts.
- Expand the scope with additional countries, market segments, technologies, or competitor profiling.
- Use the insights to support strategic planning, market entry, commercial due diligence, and long-term revenue growth initiatives.
