Refurbished Medical Equipment Market: Increasing Number of Diagnostic Centers and Hospitals
The growth of the global refurbished medical equipment market can be attributed to factors such as hospital budget cuts, a large inventory of used or old medical devises, rising demand for capital-intensive diagnostic imaging equipment, e-commerce platform enhancing the ease of purchase of refurbished medical equipment, growing preference for eco-friendly products, an increasing number of diagnostic centers & hospitals, and the growing opportunities in emerging economies. The global refurbished medical equipment market is projected to reach USD 21.2 billion by 2025 from USD 12.1 billion in 2020, growing at a CAGR of 11.8% from 2020 to 2025. However, factors such as stringent regulations on the import and use of refurbished medical devices in certain countries, lack in the standardization of policies for the use & sale of refurbished devices, increase in the influx of low-cost new medical devices, and the negative perception about the quality of refurbished med...