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Pre-Owned Medical Devices Market Outlook, Trends and Forecast 2024-2032
IMARC Group's report titled "Pre-Owned Medical Devices Market by Type (X-ray, Mammography Machines, CT Machines, MRI Machines, Ultrasound Machines, Nuclear Imaging and Medicine Devices, C-arm Devices), End User (Hospitals, Clinics), and Region 2024-2032", The global pre-owned medical devices market size reached US$ 7.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.4 Billion by 2032, exhibiting a growth rate (CAGR) of 9.89% during 2024-2032.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/pre-owned-medical-devices-market/requestsample
Factors Affecting the Growth of the Pre-Owned Medical Devices Industry:
Cost-effectiveness:
Pre-owned medical devices are available at a fraction of the cost of new equipment. Healthcare facilities, especially those operating on tight budgets, find pre-owned devices to be a cost-effective alternative that allows them to acquire necessary equipment without significant financial strain. Investing in pre-owned medical devices enables healthcare providers to minimize their capital expenditure while still acquiring high-quality equipment. This cost-saving measure allows healthcare facilities to allocate resources to other critical areas, such as patient care, staff training, and infrastructure development.
Increasing Demand for Healthcare Services:
With the growing population and changing demographics, there is a need for the expansion of healthcare facilities, including hospitals, clinics, and diagnostic centers. Acquiring pre-owned medical devices enables newly established or expanding facilities to equip themselves quickly and affordably to meet the increasing demand for healthcare services. In regions with limited resources or underserved communities, the demand for healthcare services often outstrips the availability of essential medical equipment. Pre-owned medical devices offer a practical solution by providing access to quality equipment at a lower cost, thereby enabling healthcare providers to address the unmet needs of their patients.
Technological Advancements:
Innovations in medical technology are leading to shorter product life cycles for medical devices. As newer and more advanced equipment is becoming available, healthcare facilities often upgrade their existing devices, creating a steady supply of pre-owned medical devices in the market. Technological advancements are contributing to the refurbishment process, allowing pre-owned medical devices to undergo thorough testing, repairs, and upgrades. This ensures that refurbished equipment meets or exceeds industry standards for quality, performance, and safety, making it an attractive option for healthcare providers seeking cost-effective alternatives to new equipment.
Leading Companies Operating in the Global Pre-Owned Medical Devices Industry:
Advanced Ultrasound Systems
Block Imaging International Inc.
Canon Medical Systems Corporation (Canon Inc.)
EverX Pty Ltd
GE HealthCare Technologies Inc (General Electric Company)
Integrity Medical Systems Inc.
Koninklijke Philips N.V.
Probo Medical LLC
Siemens Healthineers AG (Siemens AG)
Soma Tech Intl
Pre-Owned Medical Devices Market Report Segmentation:
By Type:
X-ray
Mammography Machines
CT Machines
MRI Machines
Ultrasound Machines
Nuclear Imaging and Medicine Devices
C-arm Devices
CT machines represent the largest segment due to their widespread use in diagnostic imaging, their high initial cost making pre-owned options attractive, and the constant technological advancements leading to frequent upgrades and replacements in healthcare facilities.
By End User:
Hospitals
Clinics
Hospitals account for the majority of the market share as they have a higher demand for a wide range of medical devices, including both general equipment and specialized devices, to cater to the diverse healthcare needs of their patient populations.
Regional Insights:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
North America enjoys the leading position in the pre-owned medical devices market owing to a well-established healthcare infrastructure high adoption rate of advanced medical technologies, and stringent regulatory standards promoting the refurbishment and resale of medical equipment.
Global Pre-Owned Medical Devices Market Trends:
Regulatory bodies are recognizing the safety and efficacy of refurbished medical devices, leading to the rising acceptance and adoption of pre-owned equipment by healthcare facilities worldwide.
The refurbishment and reuse of pre-owned medical devices align with sustainability initiatives, as they reduce electronic waste and promote resource conservation, thereby contributing to the growth of the market.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact US
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: [email protected]
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
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CANCER DIAGNOSTICS MARKET ANALYSIS (2020-2027)
Tumor biomarkers tests use in diagnosis of cancer include, prostate specific antigen (PSA), circulating tumor cells (CTC), Alfa-fetoprotein test (AFP), CA-19 test for pancreatic cancer, HER-2 test, BRCA test, ALK test for lung cancer, carcioembryonic test (CEA), EGFR mutation test, and RAS mutation test.
The global cancer diagnostics market is estimated to account for US$ 45,106.5 Mn in terms of value and is expected to reach US$ 83,641.9 Mn by the end of 2027.
Global Cancer Diagnostics Market: Drivers
Increasing prevalence of cancer is expected to propel growth of the global cancer diagnostics market over the forecast period. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.
Moreover, R&D in cancer diagnostics is also expected to aid in growth of the market. For instance, in January 2020, researchers from Universidade do Porto, Portugal, reported assessment of the role of O-glycosylation using glycoengineered gastric cancer models in the detection of CD44v9 – a major protein splice variant isoforms expressed in human gastrointestinal cancer cells—by monoclonal antibodies.
Biopsy held dominant position in the global cancer diagnostics market in 2019, accounting for 35.1% share in terms of value, followed by Imaging and Tumor Biomarkers Tests, respectively.
Figure 1. Global Cancer Diagnostics Market Share (%), by Value, by Test Type, 2019
Global Cancer Diagnostics Market: Restraints
Inadequate reimbursement policies are expected to hinder growth of the market. There have been various advancements in radiology with regard to imaging equipment in the recent past. However, most medical insurance companies do not offer reimbursement for procedures using Computer-aided Detection (CAD). As a result, people tend to choose conventional methods for diagnosis such as biopsy, pathological test or conventional imaging methods such as mammography, and MRI procedures.
Moreover, high price of cancer detection software is also expected to hamper growth of the market. Computer-aided Detection (CAD) software is available with a one-year license and hospitals have to renew it each year. Moreover, some insurance providers are opting out of the CAD procedure reimbursement as it is deemed extravagant and not preferred by senior radiologists
Request Sample Free Copy of Report here: https://www.coherentmarketinsights.com/insight/request-sample/4029
Download PDF Brochure: https://www.coherentmarketinsights.com/insight/request-pdf/4029
Global Cancer Diagnostics Market: Opportunities
Development of biopsy platforms for companion animal cancers is expected to offer lucrative growth opportunities for players in the global cancer diagnostics market. For instance, in January 2020, Zomedica Pharmaceuticals Corp., a veterinary diagnostic and pharmaceutical company, announced completing the development and manufacturing of its reference lab cancer liquid biopsy platform for canine cancers.
Moreover, use of AI in early detection of cancer is also expected to aid in growth of the market. For instance, Freenome, an AI genomics company based in the U.S., is focused on developing blood tests to detect the body’s early-warning signs of cancer, using AI. In October 2018, the company presented early data in R&D for using machine learning to detect colorectal cancer at its earliest stages.
The global cancer diagnostics market was valued at US$ 41,542.4 Mn in 2019 and is forecast to reach a value of US$ 83,641.9 Mn by 2027 at a CAGR of 9.2% between 2020 and 2027.
Figure 2. Global Cancer Diagnostics Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027
Market Trends/Key Takeaways
Major players in the market are focused on adopting partnership strategies to enhance their market share. For instance, in February 2020, Foundation Medicine, Inc. and Chugai Pharmaceutical, Ltd. collaborated with National Cancer Center (NCC) for the use of FoundationOneLiquid, Foundation Medicine’s laboratory-developed liquid biopsy test, in the third stage of SCRUM-Japan, a cancer genomic screening consortium in Japan.
Major players in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance, in January 2020, Quest Diagnostics acquired Blueprint Genetics to expand its product portfolio in genetic and rare diseases.
Global Cancer Diagnostics Market: Competitive Landscape
Major players operating in the global cancer diagnostics market include, Abbott Laboratories, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Siemens AG, Bio Rad Laboratories Inc., GE Healthcare, Illumina, Inc., Koninklijke Philips N.V., Toshiba Medical Systems Corporation, Agilent Technologies, Inc., Aurora Imaging Technologies, Inc., Quest Diagnostics
Global Cancer Diagnostics Market: Key Developments
Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in May 2020, Myriad Genetics, Inc. received the U.S. Food and Drug Administration (FDA) approval for its BRACAnalysis CDx test as a CDx for Lynparza in homologous recombination repair-mutated metastatic castration-resistant prostate cancer.
Major players in the market are also focused on adopting partnership strategies to expand their product portfolio. For instance, in October 2019, Illumina, Inc. partnered with QIAGEN N.V. to broaden the availability and use of NGS-based in-vitro diagnostic kits, including companion diagnostics, for patient management.
About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions.
What we provide:
Customized Market Research Services
Industry Analysis Services
Business Consulting Services
Market Intelligence Services
Long term Engagement Model
Country Specific Analysis
Contact Us:
Mr. Shah
Coherent Market Insights Pvt. Ltd.
Address: 1001 4th ave, #3200 Seattle, WA 98154, U.S.
Phone: +1-206-701-6702
Email: [email protected]
Source: https://www.coherentmarketinsights.com/market-insight/cancer-diagnostics-market-4029
#Cancer Diagnostics Market#CoherentMarketInsights#MarketResearch#Industryanalysis#BusinessConsulting
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Pre-Owned Medical Devices Market 2024 | Share, Revenue & Report by 2032
IMARC Group's report titled "Pre-Owned Medical Devices Market by Type (X-ray, Mammography Machines, CT Machines, MRI Machines, Ultrasound Machines, Nuclear Imaging and Medicine Devices, C-arm Devices), End User (Hospitals, Clinics), and Region 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on the global pre-owned medical devices market share. The global market size reached US$ 7.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.4 Billion by 2032, exhibiting a growth rate (CAGR) of 9.89% during 2024-2032.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/pre-owned-medical-devices-market/requestsample
Factors Affecting the Growth of the Pre-Owned Medical Devices Industry:
Cost-effectiveness:
Pre-owned medical devices are available at a fraction of the cost of new equipment. Healthcare facilities, especially those operating on tight budgets, find pre-owned devices to be a cost-effective alternative that allows them to acquire necessary equipment without significant financial strain. Investing in pre-owned medical devices enables healthcare providers to minimize their capital expenditure while still acquiring high-quality equipment. This cost-saving measure allows healthcare facilities to allocate resources to other critical areas, such as patient care, staff training, and infrastructure development.
Increasing Demand for Healthcare Services:
With the growing population and changing demographics, there is a need for the expansion of healthcare facilities, including hospitals, clinics, and diagnostic centers. Acquiring pre-owned medical devices enables newly established or expanding facilities to equip themselves quickly and affordably to meet the increasing demand for healthcare services. In regions with limited resources or underserved communities, the demand for healthcare services often outstrips the availability of essential medical equipment. Pre-owned medical devices offer a practical solution by providing access to quality equipment at a lower cost, thereby enabling healthcare providers to address the unmet needs of their patients.
Technological Advancements:
Innovations in medical technology are leading to shorter product life cycles for medical devices. As newer and more advanced equipment is becoming available, healthcare facilities often upgrade their existing devices, creating a steady supply of pre-owned medical devices in the market. Technological advancements are contributing to the refurbishment process, allowing pre-owned medical devices to undergo thorough testing, repairs, and upgrades. This ensures that refurbished equipment meets or exceeds industry standards for quality, performance, and safety, making it an attractive option for healthcare providers seeking cost-effective alternatives to new equipment.
Leading Companies Operating in the Global Pre-Owned Medical Devices Industry:
Advanced Ultrasound Systems
Block Imaging International Inc.
Canon Medical Systems Corporation (Canon Inc.)
EverX Pty Ltd
GE HealthCare Technologies Inc (General Electric Company)
Integrity Medical Systems Inc.
Koninklijke Philips N.V.
Probo Medical LLC
Siemens Healthineers AG (Siemens AG)
Soma Tech Intl
Pre-Owned Medical Devices Market Report Segmentation:
By Type:
X-ray
Mammography Machines
CT Machines
MRI Machines
Ultrasound Machines
Nuclear Imaging and Medicine Devices
C-arm Devices
CT machines represent the largest segment due to their widespread use in diagnostic imaging, their high initial cost making pre-owned options attractive, and the constant technological advancements leading to frequent upgrades and replacements in healthcare facilities.
By End User:
Hospitals
Clinics
Hospitals account for the majority of the market share as they have a higher demand for a wide range of medical devices, including both general equipment and specialized devices, to cater to the diverse healthcare needs of their patient populations.
Regional Insights:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
North America enjoys the leading position in the pre-owned medical devices market owing to a well-established healthcare infrastructure high adoption rate of advanced medical technologies, and stringent regulatory standards promoting the refurbishment and resale of medical equipment.
Global Pre-Owned Medical Devices Market Trends:
Regulatory bodies are recognizing the safety and efficacy of refurbished medical devices, leading to the rising acceptance and adoption of pre-owned equipment by healthcare facilities worldwide.
The refurbishment and reuse of pre-owned medical devices align with sustainability initiatives, as they reduce electronic waste and promote resource conservation, thereby contributing to the growth of the market.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact US
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: [email protected]
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
0 notes