Global Refurbished Medical Equipments Market

Topics: Medicine, Original equipment manufacturer, Compound annual growth rate Pages: 1 (261 words) Published: March 18, 2014
Refurbishing of medical device refers to restoring used equipment or systems into a condition of safety and effectiveness comparable to new including actions such as repair, rework, update and replacement of worn parts with original parts. Refurbished products do not alter any product specification like remanufactured products, thus requiring no special approval to market the refurbished products in different countries. Refurbished medical devices represent the aftermarket of used medical devices worldwide. As per standard definition, refurbished devices hold a niche market which is different from remanufactured and used devices market. The global refurbished devices market is classified into imaging-diagnostic-monitoring devices, minimally invasive surgical devices, radiation oncology devices, biotechnology instruments and so others. Refurbished medical devices market is expected to grow at a faster rate with a CAGR of 7.8% from 2012 to 2017. The global refurbished market has seen challenging and dynamic market conditions, but still remains strong, with a size of approximately $8.45 billion in 2017 and an estimated annual growth rate of 7.8% over the next five years. Affordable offerings of used branded products and enhanced access to replacement parts and repair technology are contributing to widespread adoption of the refurbished medical devices by healthcare institutions worldwide This market is operated by mainly two kinds of players; original equipment manufacturers (OEMs) and third party manufacturers. Major OEMs include GE Healthcare (U.K), Siemens Healthcare (Germany), Philips Healthcare (The Netherlands), Stryker Corporation (U.S.), Johnson & Johnson (U.S.) and Toshiba Medical System (Japan) and third party vendors including Soma Technology (U.S.), Agito Medical (Denmark), DMS Topline Medical (U.S.), and First Source, Inc. (U.S.).
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Global Material Testing Equipment Market 2014-2018 Essay
  • Essay on Global Medical Device Packaging Market 2014-2018
  • Global 3PL Market Essay
  • Global LED Display Market Research Paper
  • Global BOPP Films Market Essay
  • Global Transportation Management Market Essay
  • Global Smart Glass Market Essay
  • Global Welding Consumables Market Essay

Become a StudyMode Member

Sign Up - It's Free