The economic impact of refurbished medical equipment on healthcare systems can be significant. For hospitals and other healthcare organizations, the use of refurbished equipment can help to reduce costs, improve efficiency, and free up capital for other investments.
A study by the American Hospital Association found that hospitals that used Refurbished medical equipment saved an average of $1 million per year. The study also found that the use of refurbished equipment led to a decrease in the number of equipment-related infections, which further reduced costs.
In addition to the financial benefits, the use of refurbished medical equipment can also have a positive impact on the environment. Refurbished equipment reduces the need for new equipment, which helps to conserve resources and reduce pollution.
The economic impact of refurbished medical equipment on healthcare systems can be significant. For hospitals and other healthcare organizations, the use of refurbished equipment can help to reduce costs, improve efficiency, and free up capital for other investments.
In addition to the financial benefits, the use of refurbished medical equipment can also have a positive impact on the environment. Refurbished equipment reduces the need for new equipment, which helps to conserve resources and reduce pollution.
Another example is the Cook County Health System in Chicago. The system saved an estimated $2 million per year by using refurbished medical equipment. The system also saw an improvement in patient outcomes, as patients who received care on refurbished equipment had lower rates of infection and mortality.
These are just a few examples of the many healthcare facilities that have benefited from the use of refurbished medical equipment. As the cost of new medical equipment continues to rise, the use of refurbished equipment is becoming an increasingly attractive option for healthcare organizations.
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Refurbished Medical Equipment Market – Report Overview[214 Pages Report] The global refurbished medical equipment market is projected to reach USD 21.2 billion by 2025 from USD 12.1 billion in 2020, growing at a CAGR of 11.8% from 2020 to 2025.
The growth of the global refurbished medical equipment market can be attributed to factors such as hospital budget cuts, a large inventory of used or old medical devises, rising demand for capital-intensive diagnostic imaging equipment, e-commerce platform enhancing the ease of purchase of refurbished medical equipment, growing preference for eco-friendly products, an increasing number of diagnostic centers & hospitals, and the growing opportunities in emerging economies.However, factors such as stringent regulations on the import and use of refurbished medical devices in certain countries, lack in the standardization of policies for the use & sale of refurbished devices, increase in the influx of low-cost new medical devices, and the negative perception about the quality of refurbished medical devices are expected to restrain the market growth.
Furthermore, the growth of the market is expected to be slowed temporarily due to the COVID-19 pandemic during the forecast period.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=770By application, the diagnostics segment is expected to account for the largest share of the refurbished medical equipment market in 2019.Based on procedure, the refurbished medical devices market is segmented into diagnostic and therapeutic procedures segments.
The diagnostic procedures segment accounted for a larger share of the market in 2019.
The rising demand for diagnostic imaging procedures, the high price of new medical imaging equipment, a growing number of target diseases, widening application of diagnostic imaging procedures, regulatory approvals in using refurbished medical equipment, low purchasing power in emerging economies, and established & government validated refurbishment processes adopted by major OEMs are factors expected to drive the growth of this market segment in the coming years.By end users, the hospitals’ segment is expected to account for the largest share of the refurbished medical equipment market in 2019.Based on end users, the global refurbished medical devices market has been segmented into hospitals, ambulatory surgical centers, diagnostic imaging centers, and other end users.
The rising adoption of refurbished medical equipment, increasing focus of hospitals on providing affordable treatment and care, and growing emphasis on high returns on investment are some of the key factors driving the growth of this market.Request for Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=770The Asia Pacific market is expected to grow at the fastest rate in the refurbished medical equipment market during the forecast period.Geographically, this market is classified into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
