The global refurbished Medical Equipment market is predicted to increase at a compound annual growth rate (CAGR) of 16.29 percent from $10.77 billion in 2020 to $12.52 billion in 2021. The increase is primarily attributable to healthcare organisations’ preference for cost-cutting strategies. Because refurbished equipment requires a lesser initial capital commitment, healthcare practitioners can provide services at a reduced cost.
At a CAGR of 12.8 percent, the market is estimated to reach $20.28 billion in 2025. The refurbished Medical Equipment industry is made up of companies that sell refurbished Medical Equipment that has been repaired, restored, and installed without modifying the original device’s intended purpose or replacing worn parts. The quality control department inspects and tests these gadgets, and they are frequently refurbished for extended use.
Operating rooms and surgical equipment comprise a wide range of handheld, portable, and stationary equipment or devices such as anaesthetic devices, electrosurgical devices, surgical imaging devices, and others. Heart rate, SPO2, blood pressure, temperature, and other biometric values are measured, recorded, distributed, and displayed on patient monitors. ECG devices, Bedside Monitors, Multi Para Monitors, Central Nursing Stations, and other cardiology equipment are used to analyse heart-related parameters.The urinary system is examined with urology equipment. Neurology equipment is used to diagnose, prevent, and treat a wide range of neurological problems and diseases. Intensive care equipment is used to monitor and/or treat the patient’s sickness. Endoscopy equipment is used to detect strictures in hollow organs such the colon, oesophagus, and stomach.