Pre-Owned Medical Devices Market Growth Accelerated By Increased Demand For Affordable Healthcare

Pre-Owned Medical Devices Market 

Pre-owned medical devices like diagnostic X-ray machines, ultrasound machines, patient monitoring devices etc are critical to healthcare delivery by catering to need of affordable healthcare. Pre-owned devices are cost effective alternatives to new devices and provide quality healthcare to patients. The global Pre-owned Medical Devices Market is estimated to be valued at US$ 7355.21 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Increased demand for affordable healthcare has accelerated growth of pre-owned medical devices market. High cost of new medical devices is a major barrier for healthcare providers in developing economies to offer quality and affordable healthcare services. Pre-owned devices that are refurbished to meet performance and safety standards help bridge this access gap. They are 30-50% cheaper than new devices. Growing healthcare expenditure in developing countries is driving hospitals and clinics to rely more on pre-owned equipment. This key trend is expected to boost market considerably over forecast period as it addresses the dual needs of cost effectiveness and access to healthcare.

Segment Analysis
The global pre-owned medical devices market is dominated by the cardiologists segment. A significant number of pre-owned or refurbished medical devices are sold or reused in the cardiology sector as these devices have a relatively longer life span as compared to devices used in other areas of healthcare. Cardiology devices like echocardiography machines, stress testing equipment, Holter monitoring systems, cardiac ultrasound scanners etc. account for over 35% of the overall pre-owned medical devices market.

Key Takeaways
The global Pre-Owned Medical Devices Market Growth is expected to witness high growth over the forecast period of 2023 to 2030 supported by factors such as rising healthcare costs and growing demand for cost-effective medical equipment from emerging markets.

Regional analysis: The North America region currently dominates the global pre-owned medical devices market with the United States being the largest market. Availability of advanced infrastructure for refurbishing medical devices and growing healthcare expenditure is driving the North American pre-owned medical devices market. The Asia Pacific region is expected to witness the fastest growth during the forecast period supported by factors such as increasing patient population, rising medical tourism and growing medical device industry in countries like China and India.

Key players: Key players operating in the pre-owned medical devices market are Comstrac Ltd., Ismallcell Biz, Kavit Electronics Industries Ltd., Para o Grupo 4intelligence, Phantom Technologies Ltd., PKI Electronic Intelligence GmbH, Proximus LLC, Rayfond Technology Co. Ltd., Red Eye International Ltd., Septier. These players are focusing on expansion in emerging markets and launching new refurbished products and technologies to strengthen their position in the global pre-owned medical devices market.

For more insights, read- https://www.ukwebwire.com/pre-owned-medical-devices-market-trends-size-and-share-analysis/

For more details on the report,  Read-https://www.shayaricenter.com/natures-barcodes-biomarkers-illuminate-paths-to-wellness-and-scientific-breakthroughs