In a recent published report, Kenneth Research has updated the Refurbished Imaging Medical Equipment Market report for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Refurbished Imaging Medical Equipment Market Products.
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Refurbished Imaging Medical Equipment market has witnessed a healthy growth in the recent past and will continue to do so in coming years. Lower cost of refurbished equipments and increasing occurrence of lifestyle diseases are the major drivers for the growth of refurbished imaging equipments.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
The report begins with macro economic indicators whereby the basic economic indicators have been depicted. In the introduction section market size of medical equipments in India has been estimated. It also gives the segmentation of the medical equipment market. The introduction section clearly shows both medical equipment markets in general and imaging equipment market in particular is poised to grow at a healthy rate. In the market overview section an overview of the refurbished medical equipments has been provided.
A flowchart has been provided to explain how refurbished equipments are bought by hospitals. It also enumerates the checklist for refurbished equipments. Further, the report highlights the different types of ways equipments are refurbished. Thereafter, factors which affect the purchase of refurbished equipment have been listed. Also sourcing of refurbished equipments has been explained. The market overview section also explains the factors which sellers must emphasize on while selling refurbished equipments. Thereafter, the various strategies adopted by refurbished equipment sellers have been explained. Subsequently markets size of refurbished medical equipment such as MRI, CT, X ray, USG and mammography is provided (both in value terms and volume wise). The market for each of these equipments has been explained along with necessary insights and value additions.
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In the next section market characteristics of refurbished imaging medical equipments has been listed. This section explains how refurbished equipments lead to quick return on investments. At the same time doctors express serious concern over quality of refurbished equipments which might affect the treatment quality. Patients might be adversely affected. Sometimes refurbished equipments suffer from poor after sales service resulting in disruption of services. Rapid technology up-gradation has also resulted in the growth of refurbished equipments in India. Hospitals prefer to buy refurbished equipment as they get a relatively new machine at a fraction of the price. Moreover people are sometimes unaware whether the device is new or refurbished and they are driven only by price-has also resulted in the growth of refurbished imaging medical equipment.
The competition section begins with a Porter’s five forces model which analyses the dynamics of the market. The major players in the market have been profiled which includes a financial summary for each of the players. Key ratios and key contacts are also listed. The last section offers strategic recommendations for the players in the refurbished imaging medical equipment market. For each of the companies a SWOT analysis has been provided.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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