The global refurbished medical equipment market is expected to grow at a compound annual growth rate (CAGR) of 12.5 percent and reach $9.37 billion by 2019, according to a new MarketsandMarkets report.

The market includes operating room, medical imaging, cardiology, intravenous therapy systems, endoscopy equipment, patient monitors, defibrillators, intravenous therapy systems, intensive care and neonatal intensive care units, blanket warmers, autoclaves, suction pumps, sequential compressor devices, stretchers, cath labs, stress test systems, heaters/cooler, dry imagers and beds.

Financial challenges are increasing the global interest in low-cost refurbished medical equipment and growing privatization in the health care sector is also driving the market. But at the same time, the market is restricted by the lack of standard policies for the sale and use of refurbished medical equipment and a public institutional stance against purchasing the equipment.
In 2014, North America made up most of the global market, followed by Europe, but the Asia-Pacific region is projected to gain momentum and grow at a CAGR of 13.7 percent from 2014 to 2019. That is being driven by privatization, reduced reimbursement rates, a growing population base and an increase in low budget hospitals and clinics.

The emerging markets, including India, Brazil, and Mexico hold great potential for refurbished medical equipment companies. Medical tourism is growing in those regions and there is also an increase in the population bases and privatization.

As of 2014, the global refurbished medical equipment market was dominated by GE Healthcare (UK), Philips Healthcare (Netherlands), and Siemens Healthcare (Germany), which together accounted for about 41% of the market.

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