With the global refurbished medical equipment market to hit USD 15 billion by 2023, it makes sense to reflect on the usability and efficiency of refurbished medical equipment. According to reports, when considering market shares and company profiles of major operators in the market, the figure above was predicted, along with a CAGR of more than 12%. Major players reviewed in the report include original equipment manufacturers, healthcare firms, and retailers, and also included different types of analyses done, such as SWOT, business strategy and planning. All these facts and figures mentioned indicate only one thing: the huge potential for growth in the refurbished medical equipment industry.
Increasing privatization in the healthcare sector has forced people to adopt cost friendly methods of developing medical equipment. Massive geriatric population, growing acceptance of refurbished devices all over the world and the growing popularity of medical tourism are a few more reasons that the refurbished medical equipment market is going through such a boom right now. Increased demands for quality at reasonable prices has only been pushing the refurbished medical equipment market to newer heights.
Retailers, such as Coast biomedical equipment, are doing their best to help the adoption of refurbished medical equipment. They procure material from top brands, offer certified service and repair services through qualified technicians, offer supplies and spare parts for all their refurbished equipment and are slowly beginning to be trusted all over the world. With positive reviews from customers, retailers are enjoying success in the refurbished medical equipment market. Both diagnostic and therapeutic devices can be refurbished, with devices such as X-ray machines, CT scan machines, defibrillators, ECG systems and other equipment being refurbished easily, while maintaining quality.
If the current situation is anything to go about, then the future of the refurbished medical equipment market is certainly promising.