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Global Refurbished Medical Devices Market 2019-2023 | Organized Healthcare Ecosystem in Developed Economies to Drive the Market | Technavio

November 8, 2018

LONDON--(BUSINESS WIRE)--Nov 8, 2018-- analysts forecast the global refurbished medical devices market to grow at a CAGR of over 10% during the forecast period, according to their latest market research report.

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Technavio analysts forecast the global refurbished medical devices market to grow at a CAGR of over 10% by 2023. (Graphic: Business Wire)

The increase in privatization in the healthcare sector is one of the major trends being witnessed in the . The privatization in the healthcare sector is rapidly increasing due to the inability of governments to invest efficiently in the healthcare sector and because of the high demand for innovation and technology for superior healthcare services.

This report is available at a USD 1,000 discount for a limited time only:

According to Technavio analysts, one of the key factors contributing to the growth of the global refurbished medical devices market is the organized healthcare ecosystem in developed economies:

Global refurbished medical devices market: Increasing adoption of refurbished medical devices due to financial constraints

The high cost of new medical devices makes using refurbished medical devices lucrative for healthcare service providers. This high cost of medical equipment and devices can be attributed to the high R&D and technology cost associated with designing new medical devices. Furthermore, medical devices usually contain several redundant and high-end components aimed at reducing the probability of device failure, which further increases the manufacturing cost of medical devices.

According to a senior analyst at Technavio, “Due to the high cost of new medical devices, refurbished medical devices serve as cost-effective alternatives. They are certified, updated with new technologies, and have valid warranties. Refurbished medical devices enable healthcare service providers to stay updated with the latest consumer demand, at affordable prices.”

Global refurbished medical devices market: Segmentation analysis

The global refurbished medical devices market research report provides market segmentation by product (diagnostic imaging equipment, minimally-invasive devices, biotechnology instruments, and radiation oncology systems), by end-user (hospitals and other practices), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Of the four major products, the diagnostic imaging equipment segment held the largest market share in 2018, contributing close to 76% of the market. This product segment will dominate the global market throughout the forecast period. The diagnostic imaging equipment is used to create a visual representation of the internal organs to help with medical intervention and clinical analysis.

The Americas held the largest share of the market in 2018, accounting for close to 44% share. It was followed by EMEA and APAC respectively. The refurbished medical devices market in North America is driven by high investments in healthcare in countries such as the US and Canada.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20181108005511/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 11/08/2018 10:19 AM/DISC: 11/08/2018 10:19 AM

http://www.businesswire.com/news/home/20181108005511/en

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