Refurbished Medical Equipment Market Creating Real Change in the Healthcare Industry
Increasing privatization in the healthcare sector, poor reimbursement scenario for various medical treatments, large patient population base, and presence of a large number of hospitals/clinics with budget constraints in developing countries are the major factors driving the growth of this market. Growing initiatives undertaken by leading market players (such as GE Healthcare, Philips Healthcare, and Siemens Healthineers) to establish refurbishment facilities in both mature and developing markets are further adding to the growth prospects of Refurbished Medical Equipment market. The refurbished medical equipment market is expected to reach USD 11.91 Billion by 2021 from USD 6.55 Billion in 2016 , at a CAGR of 12.7% during the forecast period. Emerging markets including India offer high growth potential for companies engaged in the development and distribution of refurbished medical devices. Growing initiatives by market players, increasing patient pop...