Global Remanufactured Medical Imaging Devices Market is anticipated to reach US$ 3703.2 Mn by 2026 from US$ XX Mn in 2019 at a CAGR of XX% during a forecast period.
Global Remanufactured Medical Imaging Devices Market Overview
According to the US Food and Drug Administration, remanufacturing of medical devices involves the restoration of extra features or upgrades, refurbishment, repackaging, conditioning, and processing of a final item. This method is expected to improve the product significantly over the original equipment, which is expected to benefit the global remanufactured medical imaging devices market from 2019 to 2026.
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Global Remanufactured Medical Imaging Devices Market Dynamics
The market is driven by an extensive shift of different health institutions towards value-driven health care, increasing demand for advanced digital diagnostics imaging systems, degradation of reimbursement policies on medical imaging equipment, and the continuous domination of sales of reconstructed medical equipment. Reproduced medical equipment is projected to see a lucrative rise over the following two decades, according to the Japan Industries Association of Radiological systems (JIRA) and the Electrochemical and Healthcare IT Industry (COCIR).
Furthermore, the market is gaining traction as a result of several reasons, including the growing percentage of geriatrics in the global population, the incidence of target illnesses, the rising desire for early identification of incurable diseases, and the introduction of novel applications. Increasing cost-cutting requirements on healthcare institutions, as well as the dangers associated with these devices, are projected to constrain the market during the forecast period.
Additionally, the market for remanufactured medical imaging devices is rapidly evolving, with a growing preference for point-of-care testing and personalized medicine, as well as the introduction of cost-effective lab tests and integrated analytical systems, which are expected to provide new opportunities for market merchants.
Global Point of Care Diagnostics Market Size 2019-2016
Global Remanufactured Medical Imaging Devices Market Segmentation Analysis
By Product, medical imaging equipment was one of the greatest revenue-generating product segment in 2019 because of the rising use of medical imaging for the detection of chronic diseases such as cancer and heart ailments. Nuclear medicine systems and CT scanners are examples of remanufactured medical equipment. MRI machines, ultrasound systems, and X-ray machines are examples of medical imaging equipment. Due to the constantly rising number of heart and lung problems worldwide, the defibrillator and cardiovascular and cardiology equipment industry is likely to have profitable growth throughout the forecast period.
By Application, hospitals & clinics are projected to dominate the market because they have all of the diagnostic imaging equipment and machinery. As a result, individuals prefer to visit hospitals and clinics for diagnostic imaging. However, the diagnostic center’s segment is predicted to increase significantly as a result of increased diagnostic imaging infrastructure and diagnostic test capabilities. Improvements in their services, a focus on patient happiness, and the availability of reports via apps or email, among other things, are some of the major drivers driving segmental development.
Major manufacturers use a variety of techniques, including new product launches, mergers and acquisitions, and foraying into new markets to grow their footprints. As an example, in October 2019, the Israeli medical diagnostic artificial intelligence (AI) company, announced that its stroke and Accipio intracranial haemorrhage (ICH) software will be integrated into Philips computed tomography (CT) devices. It will be simpler to detect cerebral bleeding with the integration of this AI-powered technology into CT scanners, allowing caregivers to identify and prioritize patients suffering from numerous life-threatening illnesses such as head trauma, stroke, and traumatic brain injury.
Siemens Healthcare GmbH announced the launch of two new magnetic resonance imaging scanners in 2019. The goods were an instant hit with healthcare professionals, and Siemens’ medical imaging instruments were in high demand. The increase in supply has a direct influence on the US market as a whole.
Global Remanufactured Medical Imaging Devices Market Regional Analysis
North America had the greatest market share in terms of revenue worth $258.4 million because of the existence of multiple market competitors and a rising inclination for remanufactured medical equipment in this area. In the United States, hospitals and diagnostic imaging facilities are the two most common end-users of this medical equipment.
China, the world’s second-biggest economy, is expected to reach a market size of US$261.5 million by 2019, with a compound annual growth rate of 6.7 % from 2019 to 2026. The government’s growing investment in the construction of healthcare facilities is driving the market in India. India’s overall healthcare spending accounts for about 3.6 % of the country’s GDP. This has resulted in the growth and strengthening of the country’s healthcare infrastructure. Furthermore, market growth is likely to be fueled by the growth of big hospital chains across the country through 2026. Japan and Canada are two more important geographic markets, with forecasted growth rates of 1.2 % and 2.9 %, respectively, from 2019 to 2026. Germany is expected to grow at a CAGR of around 1.9 % in Europe.
Global Remanufactured Medical Imaging Devices Market 3
The objective of the report is to present a comprehensive analysis of the Global Remanufactured Medical Imaging Devices Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Remanufactured Medical Imaging Devices Market dynamics, structure by analyzing the market segments and project the Global Remanufactured Medical Imaging Devices Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Remanufactured Medical Imaging Devices Market make the report investor’s guide.
Global Remanufactured Medical Imaging Devices Market Scope: Inquire before buying
Global Remanufactured Medical Imaging Devices Market 4
Global Remanufactured Medical Imaging Devices Market by Region
• North America
• Asia pacific
• Middle East and Africa
• South America
Global Remanufactured Medical Imaging Devices Market Key Players
• Hitachi Medical Corporation
• Koninklijke Philips N.V
• Carestream Health Inc
• GE Healthcare
• Shimadzu Corporation
• Siemens Healthineers AG
• Atlantis Worldwide
• Canon Medical Systems Corporation
• FUJIFILM Holdings Corporation
• Block Imaging (US)
• SOMA TECH INTL. (US)
• Avante Health Solutions (US)
• Hilditch Group (UK)
• Everx Pvt Ltd. (Australia)
• Integrity Medical Systems Inc.(US)
• Radiology Oncology Systems Inc.(US)
• Master Medical Equipment (US)
• US Med-Equip (US)
• Fair Medical Co. Ltd. (Japan)
• Future Health Concepts (US)
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