Introduction

According to many studies, the market for equipment in the sector of radiology is growing for many different reasons. The refurbished medical CT equipment market is supposed to grow during the next ten years. Some of the main points are the increase of the lifestyle diseases, increasing privatization of the healthcare field, and the rapid increase in the number of medical and surgical centers. For smaller hospitals, private practices, and medical centers, used or refurbished equipment is far more attractive especially when budgets demand them. Manufacturers claim that customers are buying new devices and they are very interested in upgrading the devices more frequently. The great thing is that the magnets can be upgraded in hardware.

Clients explain that purchasing refurbished medical equipment is like buying a new used car and it is still in a good shape. It is a big challenge for all new products which are coming out. It is almost impossible to offer some used medical product and promote a new one. This means that the refurbished product may undercut the sales of the new and advanced device and somehow it may also undercut the efforts of the force of the traditional sale. But, it is obvious that used and refurbished medical equipment must be offered too because some small start-up cardiac laboratory would buy them because of their economic status. They purchase a refurbished medical device because they have low patient loads but, when their business is growing then they could afford new equipment. These centers are making opportunities for the growth of the refurbished medical devices market.

Refurbished medical systems are fulfilling the medical imaging demand

It is well known that global medical market is noticing increased use of the refurbished systems because of the high cost of all medical devices and installation. All small practices look for refurbished medical equipment which comes with a warranty period for a couple of years. There are many local vendors who offer used or refurbished medical equipment. Due to the low purchasing power and the lack of awareness in developing countries, the small hospitals purchase form their local companies because they trust them and because they have better after-sales support. This trend seems to be good for the start-ups’ medical organizations because this way they would get an access to advanced medical imaging technologies.

The highest growing sector which accumulates 40% of the total market is the general x-ray segment. This segment is focusing on the emerging market such as China and India because of the great potential for growth and the expanding process for the next period. With the many innovations which are coming every day, the refurbished medical equipment is getting more and more evaluated, because not all medical centers could afford every new medical machine.

Summary

As technology progresses the ability to respond and detect diseases also increases in an effective manner. Medical imaging and radiology devices have drastically improved thanks to the advances in technology. These machines save a lot of lives and provide breakthrough medical advances. Many companies are responsible for supply, creation, and distribution of such a medical device.

The refurbished medical imaging market is growing rapidly in Europe and if it is managed properly it may become a strong market in most of the countries. It is good to know that there are two types of refurbishing: cosmetic and electromechanical. Only a few companies do a complete electromechanical refurnishing. Those services which provide warranty play a significant role in this marketplace.

The cost-effective medical treatments are one of the biggest factors which drive this market. The pressure from the budget involves more investments in the medical imaging equipment. The longevity of refurbished devices is one more factor which fuels the growth of this field. New global regulations and the low adoption rate are the threats to the growth of this market. But, the benefits of the environment are here to offer significant opportunities for this place.

The analyze of the growing refurbished medical imaging devices market is created under the base data of:

• The segments and sub-segments in the market
• The dynamics and trends in the market
• The demand and supply
• The size of the market
• The current challenges, trends, and opportunities
• The competitive landscape
• The breakthroughs in technology
• The value chain and the stakeholder analysis

This report includes extensive research and has a qualitative and quantitative assessment simply by processing data obtained from analysts in the selected industry and market persons who are crucial for the industry chain. Some information is obtained from matching trends in micro and macroeconomics and specific indicators in this field.