Europe Refurbished Medical Imaging Equipment Market, 2023-2028
Market Overview
Medical imaging equipment is essential for diagnosis and treatment of various medical conditions. However, the high cost of new equipment can be a challenge for healthcare providers, especially in countries where healthcare budgets are limited. Refurbished medical imaging equipment has emerged as a cost-effective solution for healthcare providers, allowing them to access high-quality imaging equipment at a lower cost. This report provides an overview of the European refurbished medical imaging equipment market, including market size, growth trends, and key players.
The European refurbished medical imaging equipment market is expected to rise by USD 174.6 million with a CAGR of 4.7% during the forecast period. The market is driven by the increasing demand for cost-effective healthcare solutions, the growing prevalence of chronic diseases, and the need for advanced diagnostic imaging technologies.
Research Coverage
The market is segmented based on product type into X-ray machines, MRI scanners, CT scanners, ultrasound machines, and positron emission tomography (PET) scanners. The X-ray machines segment dominated the market in 2020, accounting for over 30% of the market share. This is due to the high demand for X-ray machines in diagnostic imaging and the availability of a wide range of refurbished X-ray machines in the market.
The European market for refurbished medical imaging equipment is primarily controlled by original equipment manufacturers (OEMs), although there is also a presence of independent service vendors (ISVs) and brokers who sell reconditioned imaging modalities. OEMs mainly distribute their products through direct sales, followed by sales via their subsidiaries and hospital contracts.
In recent years, there has been an increase in demand for refurbished medical imaging equipment due to the high cost of new equipment and the need for budget-friendly options, especially during the economic recovery phase following the pandemic. The refurbished equipment market has also gained traction due to the growing awareness of the environmental impact of electronic waste. The OEMs in the European refurbished medical imaging equipment market include GE HealthCare Technologies Inc., Siemens Healthineers AG, Koninklijke Philips N.V., Canon Medical Systems Corporation, and Hitachi, Ltd. These companies offer a range of refurbished equipment, including MRI systems, CT scanners, ultrasound systems, and X-ray systems. They also provide installation, maintenance, and repair services for their equipment.
Meanwhile, ISVs specialize in refurbishing and selling used medical imaging equipment, offering customized solutions to meet the specific needs of their clients, while brokers act as intermediaries between buyers and sellers of used equipment. ISVs in the European refurbished medical imaging equipment market include Soma Technology, Inc., LBN Medical ApS, and AGITO Medical A/S.
Competitive Landscape
The key players in the European refurbished medical imaging equipment market include AGITO Medical A/S, Canon Medical Systems Corporation, ElsMed Ltd., GE HealthCare Technologies Inc., Hitachi, Ltd., Koninklijke Philips N.V., LBN Medical ApS, Siemens Healthineers AG, Soma Technology, Inc. among others.
Key Questions Answered
What is the projected market size of refurbished medical imaging equipment in Europe by 2028
Which product segment generates the most substantial revenue
Which nature of participants segment achieves the highest performance in the refurbished medical imaging equipment market
Within the market, which country segment has secured the leading position
Who are the key players with the largest market share in the refurbished medical imaging equipment market
What is the estimated global market size for the refurbished medical imaging equipment market in 2023
What are the main factors driving the growth of the refurbished medical imaging equipment market
What is the expected incremental growth of the refurbished medical imaging equipment market during the forecast period
1. Scope and Methodology
1.1 Introduction
1.2 Report Scope
1.3 Research Methodology
2. Executive Summary
3. Market Overview
4. Europe Refurbished Medical Imaging Equipment Market - Product Analysis
4.1 C-arms
4.2 Computed tomography (CT) scanners
4.3 General X-ray machines
4.4 Interventional radiology (IXR) systems
4.5 Magnetic resonance imaging (MRI) scanners
4.6 Ultrasound machines
5. Europe Refurbished Medical Imaging Equipment Market - Nature Of Participants Analysis
5.1 Independent service vendors (ISVs)
5.2 Original equipment manufacturers (OEMs)
6. Europe Refurbished Medical Imaging Equipment Market - Country Analysis
6.1 Benelux
6.2 France
6.3 Germany
6.4 Italy
6.5 Spain
6.6 UK
6.7 Others
7. Patents Analysis
8. Competitive Landscape
8.1 Competitive Scenario
8.2 Market Positioning/Share Analysis
8.3 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
9. Company Profiles
9.1 AGITO Medical A/S
9.2 Canon Medical Systems Corporation
9.3 ElsMed Ltd.
9.4 GE HealthCare Technologies Inc.
9.5 Hitachi, Ltd.
9.6 Koninklijke Philips N.V.
9.7 LBN Medical ApS
9.8 Siemens Healthineers AG
9.9 Soma Technology, Inc.
APPENDIX
DISCLAIMER
Methodology/Research Approach
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.Research Programs/Design
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Market Size Estimation
Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).
The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.
Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report
The following figure shows an illustrative representation of the overall market size estimation process used for this study.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.
Data Source
Secondary Sources
Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.
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Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.
Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.
Key Executives Interviewed
Key Data Information from Primary Sources
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