DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Refurbished Medical Devices Market 2016-2020" report to their offering.
Refurbishment involves restoring equipment to its original condition without altering any of the product's specifications. The process ensures maintenance of the safety and efficacy of the medical equipment without altering its performance. Therefore, refurbishment varies from the replacement of worn parts to cosmetic changes to complete the end-to-end manufacturing process. Usually, the replacement cycle depends on the agreement between vendor and end-user. For most refurbished medical devices, the replacement is done after 3-5 years and depends on the working condition of the device.
The global refurbished medical devices market to grow at a CAGR of 7.39% during the period 2016-2020.
Global Refurbished Medical Devices Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one of the key drivers for market growth will be rise in privatization in healthcare sector. Privatization is usually profit driven, and the management has autonomous control over the quality and pricing of the procedures performed. Along with privatization, the demand for high standards of treatment has increased leading to the procurement of advanced devices for patient treatment was observed.
Many healthcare institutions like hospitals and diagnostic centers have purchased high-cost equipment at a relatively lower price in the form of refurbished devices. Most of them included diagnostic equipment, few to quote such as X-ray, CT, and MRI machines. The refurbished devices enabled these healthcare institutions to equip fully with various costly devices. The equipping of devices by those institutions move ahead of their competitors by providing a wide range of services to patients at low cost.
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- GE Healthcare
- Philips Healthcare
- Siemens Healthcare
- Toshiba Medical Systems
Other prominent vendors
- Agito Medical
- Block Imaging International
- DRE Medical
- Integrity Medical Systems
- Radiology Oncology Systems
- Soma Technology
For more information about this report visit http://www.researchandmarkets.com/research/3xpwp3/global