Refurbished Medical Equipment Market - Growth Forecast To 2026

Increasing demand for refurbished medical equipment is relatively high from private hospitals, owing to lower budgets than that of government-run or funded medical facilities. Cost of personalized treatment in private hospitals is relatively higher than government or trust-run hospitals. In order to operate within budget and increase patient footfall by offering a wider range of diagnostics and treatments, many private hospitals adopt cost-effective solutions such as refurbished medical equipment.

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Moreover, increasing incidence of cancer, cardiovascular, and neurological diseases, coupled with expanding aging population and rising demand for diagnosis and treatment of various age-related diseases is expected to result in growing patient pool and hospitalization over the forecast period.

Increasing cost of new diagnostic imaging devices and equipment such as magnetic resonance imaging (MRI), computed tomography (CT), nuclear imaging, and positron emission tomography (PET) scans along with financial constraints to buy new medical equipment in healthcare facilities are other major factors expected to drive growth of the global refurbished medical equipment market over the forecast period.

Unfavorable reimbursement scenario for purchase of new diagnostic imaging equipment in developing countries, and decreasing reimbursement in developed countries such as the US are factors resulting in increasing adoption of refurbished medical equipment. This coupled with focus on reducing cost pressure of diagnostics and treatment on patients, especially in developing countries, is expected to result in rising demand for refurbished medical equipment in future.