Medical equipment that has been repaired to a workable state without altering its original specifications is referred to as refurbished equipment. Refurbishment entails removing the old machine and performing a complete service on all parts, then sanitizing, cleaning, painting, and replacing any worn-out or broken parts. After that, the item is offered for sale for a significant discount as compared to a brand-new model. Because of these advantages, reconditioned equipment is widely used in clinics, hospitals, and other healthcare settings.

The expanding governmental and private investments aimed at fortifying the healthcare sector are a major factor propelling the worldwide market for reconditioned medical equipment. Funds are being allocated by governments, healthcare organizations, and private investors in an increasing amount to improve patient care, upgrade healthcare infrastructure, and meet the growing demand for affordable medical equipment solutions. The use of used medical equipment, which delivers significant cost reductions without sacrificing quality, is made possible by this inflow of capital. It encourages sustainability, increases access to necessary medical equipment, and helps healthcare facilities in areas with limited resources. In general, the need for reconditioned medical equipment is driven by rising investments in healthcare infrastructure, which is fueling the market's expansion globally.

However, the expansion of the refurbished medical equipment market is hampered by consumers' unwillingness to buy refurbished medical equipment because they are unaware of the devices' advantages and because policies pertaining to the usage and selling of refurbished medical equipment are not standardized.

The COVID-19 pandemic is expected to increase demand for reconditioned medical equipment, such as mechanical ventilators. Reconditioned medical equipment is negatively impacted by a significant disruption in the supply chain that the healthcare sector is also coping with. A device that has been refurbished to a level equivalent to that of new equipment is known as refurbished medical equipment.

The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as Agito Medical A/S, Block Imaging, DRE Medical, Inc., Everx Pvt Ltd., General Electric Company, Integrity Medical Systems, Koninklijke Philips N.V., Radiology Oncology Systems, Inc., Siemens AG, and Soma Technology.

By Product: Based on the Product, Global Refurbished Medical Equipment Market is segmented as; Intensive Care Equipment, Medical Imaging, OR Equipment and Patient Monitors.

By Application: Based on the Application, Global Refurbished Medical Equipment Market is segmented as; Cardiology, Neurology, Oncology and Urology.  

By End User: Based on the End User, Global Refurbished Medical Equipment Market is segmented as; Diagnostic Imaging Centres and Hospitals.

By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.