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Global Pre-Owned Medical Devices Market $12.5 Billion by 2029

The global market for pre-owned medical devices anticipated to attain $12.5 billion by 2029, growing at a CAGR of 11.0% over the forecast period, driven by elderly growing population, low production and material cost, contribution to containing hospital costs and high growth potential.

  • Other factors influencing the future of global pre-owned medical equipment market in the coming years include increased adoption of low-cost refurbished equipment, due to cost pressures, high demand from developing countries, concerns regarding quality, safety and efficacy, and increase in adoption of eco-friendly practices.
Global Pre-Owned Medical Devices Market

Home healthcare is also becoming of increased importance, as related technologies become more effective. Increased competition, developed and cross-bred therapies, and cost containment have more keenly focused the medical device industry’s attention on creating value for payers and patients. 

  • The refurbished medical equipment market has a high potential due to low production and material cost, contribution to containing hospital costs and high growth potential. 
    • There is a growing demand for refurbished capital medical equipment in the emerging markets, evidenced by increasing number of diagnostic imaging procedures carried out in recent years.
  • Pre-owned medical devices (used and refurbished) are earlier owned by any healthcare institution and later subject to sale or repurchase after refurbishment.
    • Refurbishment is restoration of the device to its original specifications including replacement of basic wear parts and aesthetic changes to a complete end to end refurbishment.

The most common medical equipment that is re-manufactured includes magnetic resonance (MR), computed tomography (CT), X-ray (XR), interventional cardiology (IC), PET/CT, nuclear imaging (NUC) and ultrasound (US).

  • The refurbished medical equipment market contributes to grand societal challenges by reducing waste and conserving resources; increasing access to healthcare in markets with increasing healthcare cost pressure; and offering economic benefits from extending the life cycle value of manufactured equipment and creating new growth and investment. 
    • The global value chain for refurbished medical equipment is quite restricted in terms of access due to the niche expertise and stringent regulatory certifications required for such equipment.
      • Genuine refurbished goods from original equipment manufacturers (OEM) involve rehauling a product with genuine spares for an additional run and the equipment come with safety and quality guarantees of an original product, whereas importing of non-OEM products is done by traders, unsupported by guarantees and hence pose a safety threat to patients.

The global pre-owned devices market report provides market size ($million 2019 to 2029), market share, growth trends and forecast (CAGR%, 2022 to 2029). 

The global pre-owned devices market segmented by product (pre-owned X-ray and mammography machines, pre-owned CT machines, pre-owned MRI machines, pre-owned ultrasound machines, pre-owned nuclear imaging and medicine devices, pre-owned C-arm devices), and geography.

  • Based on the products category, the pre-owned computer tomography (CT) devices segment accounted for the largest share of the total pre-owned medical devices market, closely followed by the X-ray and mammography, and pre-owned magnetic resonance imaging (MRI) equipment segments, respectively.
  • However, the pre-owned nuclear imaging and medicine devices segment forecast to grow at the fastest CAGR over the forecast period compared to other refurbished pre-owned medical devices market segments.
    • The growth of nuclear imaging and medicine devices attributed to increasing demand and rapid adoption by various medical institutes, comparatively less expensive, technological innovation in the single photon emission computed tomography (SPECT) and positron emission tomography (PET) scanners, less side effects, safe, painless, and cost-effective as well as with more precise detection rates.
  • The new X-ray and mammography devices are comparatively less expensive than other new medical devices such as CT / MRI / PET/SPECT machines.
  • On the other hand, the new nuclear Imaging and medicine devices such as PET/SPECT scanners, radiotherapy devices are more expensive than the new CT / MRI / X-ray and mammography / ultrasound machines.

The global market for pre-owned medical equipment research report is divided by geography (regional and country based) into North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Rest of EU), Asia Pacific (Japan, China, India, Rest of APAC), Latin America (Brazil, Mexico, Rest of LA), and Rest of the World.

  • In terms of geography, the North America region represents the largest market for refurbished pre-owned medical devices and also anticipated to display the moderately faster growth rate during the forecast period.
    • The market growth the developed regions attributed to increase in hospitalization, increasing number of diagnostic imaging procedures, favorable reimbursement policies, well-formulated regulatory guidelines, and availability of technologically improved products in the developed countries.
  • However, the Asia Pacific region expected to grow at the fastest CAGR than other regions on account of low-entry barriers throughout the next five-year period, due to improving healthcare infrastructure, rising burden of diseases, increasing screening initiatives, growing demand for refurbished capital medical equipment in the emerging markets, growing public awareness and availability of affordable solutions leading to adoption of pre-owned medical devices in the developing region.

The global pre-owned medical devices market report also provides the detailed market landscape (market drivers, restraints, opportunities), market attractiveness analysis and profiles of major competitors in the global market including company overview, financial snapshot, key products, technologies and services offered, and recent developments.

The major competitors in the global market for pre-owned medical equipment market and included in this report include Agito Medical A/S, Canon Medical Systems Corporation (Toshiba Medical Systems Corporation), GE Healthcare, Philips Healthcare, Siemens Healthineers AG, and Soma Technology International.

  • Product
    • Pre-Owned X-ray and Mammography Machines
    • Pre-Owned CT Machines
    • Pre-Owned MRI Machines
    • Pre-Owned Ultrasound Machines
    • Pre-Owned Nuclear Imaging and Medicine Devices
    • Pre-Owned C-arm Devices
  • Geography
    • North America (U.S., Canada)
    • Europe (U.K., Germany, France, Italy, Spain, Rest of EU)
    • Asia Pacific (Japan, China, India, Rest of APAC)
    • Latin America (Brazil, Mexico, Rest of LA)
    • Rest of the World
  • Company Profiles
    • Agito Medical A/S
    • Canon Medical Systems Corporation (Toshiba Medical Systems Corporation)
    • GE Healthcare Ltd.
    • Philips Healthcare
    • Siemens Healthineers AG
    • Soma Technology International

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