Refurbished Medical Equipment Market Due to Rise

June 5, 2021

Since COVID-19 first struck and the medical supply lines of the US started to get strained in 2020, medical equipment production went into overdrive across the board. But as medical equipment was being produced and distributed, a lot of other medical equipment was also being moved for refurbishment as they were being replaced. It’s a world that isn’t given much spotlight, but many health organizations rely on refurbished equipment for their many kinds of operations!

The Benefits of the Refurbished Medical Equipment Market

With a market for refurbished medical equipment, it is possible for health organizations, especially new offices that haven’t built their business up, to purchase medical equipment at a more affordable rate. The other benefit is that these pieces of medical equipment continue to benefit the lives of many others instead of filling landfills. Companies that have worked to build the medical equipment refurbishing market include GE Healthcare, Siemens Healthineers AG, Integrity Medical Systems Inc., Soma Technology, Canon Medical Systems Corporation, and Block Imaging International Inc.

What Kind of Medical Equipment Gets Refurbished?

There is a broad range of medical equipment that gets the refurbishing treatment in the medical equipment market. Here’s a list of just some of the equipment that is being refurbished today to ensure that clinics and hospitals have the equipment they need:

  • Cardiology Equipment
  • Patient Monitors
  • Operating Room & Surgical Equipment
  • Medical Imaging Equipment
  • IV Therapy Systems
  • Intensive Care Equipment

These are just a small sample of the massive refurbished medical equipment market. But each plays an important part in making sure that healthcare professionals around the globe have what they need to properly diagnose and treat their patients.

The Refurbished Medical Equipment Market is On the Move—Upwards!

Since the medical equipment market started to pick up the pace to try meeting the sudden surge of demand caused by the COVID-19 pandemic, the refurbished market has gained speed, with the global market estimated to reach as high as $12.52 billion for the year 2021. That’s from $10.77 billion in 2020—a large amount of growth! One of the catalysts behind this growth is undoubtedly the urgent need for medical equipment for COVID-19 patients. With how urgent COVID-19 cases can become, there is no time to lose to have the right medical equipment on hand, and the best way to ensure that the supply doesn’t dwindle too fast is to have used medical equipment refurbished and ready for the next set of patients. Due to the continuation of the COVID-19 pandemic, we can likely expect the refurbished medical equipment marketing to continue this positive trajectory for the foreseeable future as more medical equipment is in need of refurbishment and reassignment to clinics in need across the whole world.

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