Press Release   -

Global Refurbished Medical Equipment Market Set to Expand Rapidly, Driven by Technological Advancements and Expanding Healthcare Access

The global refurbished medical equipment Market is experiencing a pivotal transformation. Faced with rising healthcare costs, equipment obsolescence and increasing pressure from sustainability mandates, hospitals and diagnostic centres worldwide are turning to cost-efficient refurbished devices. According to Vantage Market Research, the market was valued at USD 16.93 billion in 2024 and is projected to reach USD 38.75 billion by 2035, representing a CAGR of 7.85% over the 2025-2035 period. This press release presents an in-depth summary of key take-aways, market trends, segmentation insights, regional trends, major company moves, recent developments, report scope and market dynamics in this evolving sector.

Key Takeaways

1. The refurbished medical equipment market is poised to more than double between 2024 and 2035, underlining its growing role in healthcare capital-planning.
2. Cost-savings and sustainability factors (re-use, lower e-waste) are major growth drivers as providers seek alternatives to high-cost new equipment.
3. The medical imaging segment (MRI, CT, X-ray) leads in demand within refurbished equipment, given the high cost of new systems.
4. Hospitals remain the dominant end-users, though diagnostic centres and smaller clinics are increasingly adopting refurbished devices.
5. Regionally, North America continues to lead in market size while Asia Pacific is expected to grow the fastest, offering significant expansion potential.
6. Strategic moves by refurbishers and OEMs (e.g., partnerships, new refurbishment facilities) underscore competitive and operational dynamics in the market.

Refurbished Medical Equipment Market Summary

Key Market Trends & Insights

Refurbished medical equipment is gaining strong traction because healthcare providers navigate tight budgets, equipment lifecycle pressures and rapid technological upgrades. Imaging systems in particular lend themselves to refurbishment, as newer modality advances often render earlier generation devices suitable for secondary use. Sustainability is another key theme — refurbishing helps reduce medical-device waste and supports circular economy goals. Additionally, digital platforms and e-commerce for refurbished devices are improving access and transparency. Quality assurance, certification and provider trust remain essential components for adoption.

Market Size & Forecast

2024 revenue: USD 16.93 billion.

2035 forecast: USD 38.75 billion.

CAGR (2025-2035): 7.85%.

Market Concentration & Characteristics

The refurbished medical equipment market is characterised by moderate fragmentation. Several large OEMs and established refurbishers hold significant shares, especially in imaging equipment refurbishment, while many smaller niche players focus on specific device categories or regional markets. Key features include:

1. Emphasis on certification and quality assurance, as providers require confidence in refurbished devices.
2. A strong value proposition for mid-sized and rural healthcare facilities—with refurbished equipment offering 30-60% lower cost than new units.
3. Growth driven by secondary markets (emerging economies) where new equipment cost is a barrier.
4. Sustainable procurement and budget optimization are pushing more providers to consider refurbishment as part of asset lifecycle strategy.

Product Type Insights

The refurbished medical equipment market by product type is segmented into Diagnostic Imaging Equipment, Patient Monitors, Surgical Instruments, Defibrillators, ICU Equipment, and Others. Diagnostic imaging equipment holds the largest share due to high costs of new MRI, CT, and X-ray systems, driving hospitals to opt for refurbished alternatives. Patient monitors and ICU equipment are witnessing strong demand amid rising hospital admissions and critical care needs. Refurbished devices offer comparable performance at lower costs, appealing to budget-constrained healthcare facilities globally.

End User Insights

Based on end user, the market is categorized into Hospitals, Diagnostic Centers, Ambulatory Surgical Centers, and Others. Hospitals dominate the segment owing to their large patient volumes, need for continuous equipment upgrades, and budget limitations in developing regions. Diagnostic centers are growing rapidly due to rising imaging test volumes and the adoption of cost-efficient refurbished systems. Ambulatory surgical centers are also embracing refurbished equipment for minor procedures, enabling better cost management without compromising clinical efficiency or patient outcomes.

Regional Insights

North America Refurbished Medical Equipment Market Trends

North America leads the global market for refurbished medical equipment, supported by extensive healthcare infrastructure, high equipment replacement rates, and strong refurbisher networks. High costs of new equipment and increasing demand for capital efficiency in hospitals drive adoption. The region’s familiarity with refurbishment, certification frameworks and appetite for sustainable asset use underpin market size dominance. Providers in North America are increasingly using refurbished devices to manage capital budgets while still upgrading technology.

Europe Market Refurbished Medical Equipment Trends

In Europe, growth is propelled by cost-containment in public health systems, aging infrastructure and sustainability procurement mandates. Health-care providers in many countries face budget pressures and thus view refurbished equipment as a viable alternative. Regulatory and certification frameworks (EU-MDR, etc.) ensure quality standards for refurbished devices, making them acceptable for wider adoption. The shift toward circular economy policies also bolsters demand for refurbished medical equipment.

Asia Pacific Refurbished Medical Equipment Market Trends

Asia Pacific is forecast to be the fastest-growing region in the refurbished medical equipment market. Rapid expansion of healthcare infrastructure in countries such as India, China and Southeast Asia, combined with budget constraints and high cost of new medical equipment, creates strong demand for refurbished devices. Refurbished equipment allows facilities in secondary cities and rural areas to access diagnostic and surgical capabilities they might otherwise lack. Government initiatives, private hospital growth and increasing device availability drive this trend.

Latin America Refurbished Medical Equipment Market Trends

In Latin America, the refurbished medical equipment market is gaining momentum as hospitals and diagnostic centres seek cost-effective ways to expand capability. Economic constraints and healthcare infrastructure gaps make refurbished devices an attractive proposition. Importation, logistics and certification remain challenges, yet the growing private healthcare segment and increased interest in medical tourism boost demand for refurbished equipment. Adoption is gradually increasing across the region.

Middle East & Africa Refurbished Medical Equipment Market Trends

In the Middle East & Africa region, the market is still developing but shows strong upside potential. Healthcare investment, medical tourism, public/private partnerships and demand for cost-effective diagnostic and therapeutic infrastructure drive interest in refurbished equipment. Challenges include regulatory variation, logistics and limited refurbisher networks, but as infrastructure matures and sustainability becomes a higher priority, refurbished equipment adoption is expected to accelerate.

Key Refurbished Medical Equipment Company Insights

Key Refurbished Medical Equipment Companies:

1. Radiology Oncology Systems Inc.
2. General Electric Company
3. Everx Pvt Ltd.
4. Siemens AG
5. Koninklijke Philips N.V.
6. Integrity Medical Systems
7. Agito Medical A/S
8. Soma Technology
9. Block Imaging
10. DRE Medical Inc.

These companies are investing in refurbishment services, warranty programmes, quality certifications and geographic expansion to capitalise on market momentum. Partnerships, acquisitions and dedicated refurbishment facilities are key strategic moves.

Refurbished Medical Equipment Market Report Scope

This Vantage Market Research report uses 2024 as the base year (with historical data covering 2021-2023) and provides forecast through 2035. It covers global geographies (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), segmentation by Product Type (e.g., medical imaging equipment, surgical equipment, patient monitors, cardiology, urology, neurology, ICU equipment, endoscopy & IV therapy systems), Application (diagnosis & monitoring vs treatment & surgical interventions), End-User (hospitals, imaging centres, clinics, labs, other end-users), and Region. The report includes revenue estimates, CAGR projections, competitive landscape, market drivers, restraints, opportunities, challenges and strategic recommendations.

Market Dynamics

Driver:

The primary driver of market growth is the strong demand from healthcare facilities for cost-effective medical equipment, particularly in environments under budget pressure. Refurbished equipment often costs 30–60% less than new units, enabling providers to expand service lines, upgrade ageing equipment, or enter new geographies without huge capital outlay.

Restraint:

A critical restraint is concern around quality, reliability and regulatory compliance of refurbished devices. Healthcare providers may hesitate if refurbished equipment lacks certification, warranty support or alignment with new regulatory standards. This slows adoption especially in high-risk or high-acuity settings.

Opportunity:

Major opportunity lies in emerging markets (Asia Pacific, Latin America, Middle East & Africa) where new equipment cost is prohibitive, healthcare infrastructure is expanding, and refurbished equipment offers a viable access path. Also, sustainability trends (reducing e-waste) and circular-economy procurement policies benefit refurbished equipment providers.

Challenges:

Among the challenges are establishing robust refurbishment standards, managing logistics (import/export, servicing, parts), ensuring provider trust and warranty support, and competing with rapidly advancing new-equipment technologies which may make older models less attractive. Additionally, reimbursement policies and procurement rules in some countries may disadvantage refurbished purchases.

Global Refurbished Medical Equipment Market Report Segmentation

The global market is segmented as follows:

1. By Product Type: Operating Room Equipment & Surgical Equipment; Patient Monitors; Defibrillators; Medical Imaging Equipment; Cardiovascular & Cardiology Equipment; X-ray Machines; Neurology Equipment; Endoscopy Equipment; Telemetry Systems; Neonatal Intensive Care Units; Urology Equipment; Intensive Care Equipment; IV Therapy Systems; Other Product Types
2. By End-User: Hospitals; Ambulatory Care Centers; Diagnostic Imaging Centers; Other End Users
3. By Region: North America; Europe; Asia Pacific; Latin America; Middle East & Africa.

Frequently Asked Questions

1. What was the size of the global refurbished medical equipment market in 2024?

The market was valued at USD 16.93 billion.

1. What is the projected market size by 2035?

It is expected to reach USD 38.75 billion.

1. What is the CAGR for the forecast period 2025-2035?

7.85%.

1. Which region currently dominates the market?

North America is the largest region in terms of market size.

1. Which product segment leads the market?

Medical Imaging Equipment leads among product types for refurbished equipment.

1. What are the major barriers to adoption?

Barriers include concerns over quality/reliability, regulatory complexity, parts logistics, and competition from new-equipment upgrades.

1. Which major companies operate in this market?

Key players include Radiology Oncology Systems Inc., GE Healthcare (General Electric Company), Siemens Healthineers AG, Koninklijke Philips N.V., EverX Pty Ltd., among others.