(PharmaNewsWire.Com, May 16, 2017 ) Market Data Forecast’s research report on the Asia-Pacific Refurbished medical devices market estimates that the market is currently worth USD 1.36 Billion is currently growing at a CAGR of 13.17% and will reach USD 2.52 Billion by 2021
Refurbishment involves restoration of equipment to its original condition without alteration of any of the product's specifications. The process ensures maintenance of the efficacy and safety of the medical instrument without affecting its performance. Therefore, refurbishment varies from replacement of worn parts to cosmetic changes to complete end-to-end manufacturing process. Usually, the replacement cycle depends upon the agreement between the vendor and the end-user. For most refurbished medical devices, replacement is done after 3-5 years and depends on the working condition of the instrument. The report on the Refurbished medical devices market also presents a detailed analysis of multitude of factors affecting the market that bear both positive and negative outcomes. Some of these factors are: • Development of the private healthcare sector • Private hospitals emphasize strongly on returns on investment • High competition amongst hospitals • Government regulations that constrain the purchase of used devices
The Asia-Pacific refurbished medical devices market is segmented on the basis of product type into neonatal intensive-care equipment, cardiovascular & cardiology equipment, endoscopy equipment, defibrillators, neurology equipment, medical imaging equipment, IV therapy systems, patient monitors, intensive care systems, operating room equipment & surgical equipment and other medical equipment. The patient monitor device segment holds the major share in the market due to the less cost of product, growing awareness for chronic diseases and technological developments such as innovations of portable patient monitoring devices.
Based on geography the market is analyzed under various regions namely, China, India, Japan, South Korea and Australia. China is dominating the refurbished medical devices market in this region and expected to continue its dominance over the forecast period.
The key players in the refurbished medical devices market are Siemens Healthcare systems, First Source Inc., DMS Topline, Radio Oncology Systems Inc., Block Imaging International Inc., Integrity Medical systems Inc., Everx Pvt Ltd., Johnson & Johnson, GE Healthcare, DRE Inc., Philips Healthcare, Agito medical A/S and Soma Technology.
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