Refurbished products do not alter any product specification like remanufactured products, thus requiring no special approval to market the refurbished products in different countries. Refurbished medical devices represent the aftermarket of used medical devices worldwide. As per standard definition, refurbished devices hold a niche market which is different from remanufactured and used devices market.
The global refurbished devices market is classified into imaging-diagnostic-monitoring devices, minimally invasive surgical devices, radiation oncology devices, biotechnology instruments and so others. The global refurbished market has seen challenging and dynamic market conditions, but still remains strong, with a size of approximately $8.45 billion in 2017 and an estimated annual growth rate of 7.8% over the next five years. Affordable offerings of used branded products and enhanced access to replacement parts and repair technology are contributing to widespread adoption of the refurbished medical devices by healthcare institutions worldwide.
This market is operated by mainly two kinds of players; original equipment manufacturers (OEMs) and third party manufacturers. Major OEMs include GE Healthcare (U.K), Siemens Healthcare (Germany), Philips Healthcare (The Netherlands), Stryker Corporation (U.S.), Johnson & Johnson (U.S.) and Toshiba Medical System (Japan) and third party vendors including Soma Technology (U.S.), Agito Medical (Denmark), DMS Topline Medical (U.S.), and First Source, Inc. (U.S.).
MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.
MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. They cover thirteen industry verticals, including advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository. Dominion Plaza,
17304 Preston Road,
Suite 800, Dallas, TX 75252
For the original version on PRWeb visit: http://www.prweb.com/releases/prwebrefurbished-medical/devices-market/prweb9860348.htm