The global market for pre-owned medical devices is projected to experience significant growth, expanding from an estimated US$6.8 billion in 2023 to US$11.4 billion by 2030, with a compound annual growth rate (CAGR) of 7.7%.
Healthcare providers are turning to pre-owned devices, such as imaging systems, surgical instruments, and diagnostic equipment, as a viable alternative to new equipment, offering substantial savings without compromising on quality.
Technological advancements in refurbishment processes are enhancing the reliability and performance of pre-owned medical devices.
Regulatory bodies in regions like North America and Europe have established comprehensive guidelines for the refurbishment, testing, and certification of pre-owned devices, ensuring patient safety and fostering trust among healthcare providers.
The focus on sustainability and reducing electronic waste within the healthcare sector is also driving the acceptance and demand for pre-owned medical devices.
The market is characterized by a diverse range of players, including major companies like GE Healthcare, Philips Healthcare, and Siemens Healthcare.
Emerging markets present significant opportunities for growth, as the rising demand for affordable healthcare solutions in developing regions drives the adoption of pre-owned devices.
Future trends in the market include the growing acceptance of pre-owned imaging devices, especially in developing regions, and the impact of COVID-19, which has underscored the need for affordable healthcare solutions.
Overall, the pre-owned medical devices market is poised for substantial growth, driven by technological advancements, regulatory support, and a focus on sustainability.