Rising demand for eco friendly medical devices along with associated cost effectiveness are the key factors driving the global remanufactured medical imaging devices market. Furthermore, increasing incidence rate of chronic diseases diagnosed with the help of advance digital diagnostic imaging systems, is also propelling the remanufactured medical imaging devices market. Healthcare institutes all over the world, are shifting their focus towards value driven systems along with increasing sales of remanufactured medical equipments, is further expected to fuel the remanufactured medical imaging market over the forecast period. Supportive initiatives by regulatory authorities is further expected to provide this market with lucrative growth platform. For example, in 2007, COCIR (European Coordination Committee Of The Radiological, Electromedical And Healthcare IT Industry) created a refurbishment focus group in China to ensure safety and quality of remanufactured medical devices. However, risks linked with remanufactured devices and rising pressure of cost containment of these devices are anticipated to restrain the market over the forecast period.
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Medical imaging equipment was found to be the highest revenue generating product segment as of 2014. Other product segments include endoscopy equipments, intensive care units, neurology equipments, neonatal intensive care units, surgical equipments, patient monitors, medical imaging equipments, cardiology equipments and defibrillators. Defibrillators and cardiovascular equipment segments are anticipated to witness lucrative growth over next seven years due to increasing respiratory and cardiac disorders globally.Geographically, North America held the largest market revenue share in 2014, owing to the increasing demand for remanufactured medical equipments and prevelance rate of chronic diseases such as cancer, asthma and oesteoarthritis. Diagnostic imaging centers and hospitals are the leading end users of remanufactured medical equipments in the U.S. whereas, owing to increasing government support for the growth of medical imaging devices, Asia Pacific is expected to witness fastest growth over the forecast period.
Some major players in the market include Toshiba Medical Systems, GE Healthcare, Shimadzu Corp., Philips Healthcare, TeraRecon Inc., Hologic Inc., Medison America Inc., Hitachi Medical Corp and Carestream Health Inc. These companies are adopting various competitive strategies such as expansions and partnerships to enhance the growth in the global remanufactured medical imaging devices market.
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