Refurbished Medical Imaging Devices Market To Reach $8.73 Billion By 2030

Refurbished Medical Imaging Devices Market Growth & Trends

The global refurbished medical imaging devices market size is anticipated to reach USD 8.73 billion by 2030, registering a CAGR of 10.38% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth can be attributed to the increasing demand for cost-effective medical imaging systems, advancements in imaging technologies, presence of multiple suppliers, increasing use of eco-friendly products to minimize the e-waste, and ensure sustainability, growing prevalence of chronic disorders, rising awareness about early disease diagnosis, and high prevalence of chronic diseases. In addition, rising awareness about the benefits of refurbished medical imaging systems and availability of favorable reimbursement policies are expected to drive market growth.

Many healthcare facilities are turning to refurbished options as a more cost-effective alternative pertaining to relatively expensive medical imaging devices. These devices provide advanced technology at a fraction of the cost, allowing healthcare providers to offer top-of-the-line imaging without breaking the budget. In addition, with the constant advancement of technology, newer models are often replacing older ones, creating a steady supply of used devices that can be refurbished and sold to those who may not have the resources for the latest models. For healthcare facilities with budget constraints, such as smaller clinics and underserved areas, refurbished medical imaging devices offer an affordable solution to meet the growing demand for diagnostic imaging services.

The market is expected to grow due to rising need for affordable medical services and increasing privatization of healthcare in low- and middle-income countries, presenting a lucrative opportunity for companies to expand their market share. Moreover, rising prevalence of chronic and acute illnesses globally is expected to drive industry growth. Established medical equipment companies can leverage this market by diversifying into this sector, as no major domestic players exist. While there may be affordability challenges in small towns and rural areas, collaborations with state and central governments can be used to develop this market. Furthermore, setting up national centers to offer after-sales services can help companies build customer trust, increasing the adoption of refurbished products.

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Refurbished Medical Imaging Devices Market Report Highlights

• The computed tomography modality segment led the market in 2023 due to technological advancements and its wide applications

• The hospitals end-use segment held the largest revenue share in 2023 due to the increased footfall of patients in the hospital settings, which leads to great demand for technologically advanced medical imaging devices

• Many hospitals from low- and middle-income countries often opt for refurbished medical imaging equipment as they are cost-effective to save resources and provide services to their patients

• Led by the U.S. & Canada, North America led the industry in 2023 due to the availability of refurbished devices, presence of major key players and favorable rules & regulations, and increasing prevalence of chronic disorders

Refurbished Medical Imaging Devices Market Segmentation

Grand View Research has segmented the global refurbished medical imaging devices market report based on modality, end-use, and region:

Refurbished Medical Imaging Device Modality Outlook (Revenue, USD Million, 2018 - 2030)

• X-ray

• Magnetic Resonance Imaging

• Ultrasound

• Computed Tomography

• Nuclear Imaging

Refurbished Medical Imaging Device End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Diagnostic Imaging Centers

• Others

Refurbished Medical Imaging Device Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in Refurbished Medical Imaging Devices Market

• GE HealthCare

• Siemens Healthineers

• Koninklijke Philips N.V.

• Hitachi Healthcare Systems

• Canon Medical Systems Corporation

• Agito Medical A/S

• Block Imaging, Inc.

• EverX Pty Ltd.

• Radiology Oncology Systems, Inc.

• Future Health Concepts