Refurbishment is a well-defined element of the world’s health care sector. Its acceptance and popularity is growing by the hour, especially in Asian countries. The global refurbished market size is expected to grow by 12.52% by the end of 2021. There is a shift in the refurbished medical market, due to a significant increase in the patient population suffering from chronic diseases.

The growth of the pre-owned medical equipment market is mainly attributed to the following factors:

• Hospital budget cuts

• A large inventory of used or old medical devises

• Rising demand for capital-intensive diagnostic imaging equipment

• E-commerce platform enhancing the ease of purchase of refurbished medical equipment

• Growing preference for eco-friendly products

• An increasing number of private diagnostic centers & hospital

All these factors have enabled health organizations to offer a wider range of services at affordable costs. In India, nearly 55% of the population is demanding high innovatory treatment. About 40% of health care organizations fulfil this demand by second-hand and refurbished medical equipment.

Although, factors such as stringent regulations on the import and use of refurbished medical devices in certain countries, lack in the standardization of policies for the use & sale of refurbished devices, increase in the influx of low-cost new medical devices, and the negative perception about the quality of refurbished medical devices are expected to restrain the market growth.

        The global refurbished medical equipment market is segmented by product into medical imaging equipment, operating room & surgical equipment, patient monitors, intensive care equipment and various other devices. Major competitors in Refurbished medical market in India are Addler CE, Medinnova system, PrimedeQ India, Jupiter Equipment. Addler CE is the key player in refurbished medical equipment market dealing with refurbishing, manufacturing, and installation of world-class medical devices at a price-performance ratio. Addler provides US-certified medical devices of Endoscopy, Laparoscopy Dental, Gynaecology & Ophthalmic, ENT, Anthroscopy to the remotest locations in India. 

        Addler is one of the leading suppliers of Endoscopy towers and Laparoscopy devices by refurbishing all generations and categories of Endoscopy towers at a very economical price as compared to other suppliers in the market. The refurbished medical equipment market consists of  sales of pre-owned medical equipment by Entities (Organizations, sole trade, partnerships) after being checked and tested by the quality control department. In Addler’s case this is all done and certified in the US, before it is imported. This ensures the best quality, replacement of parts from original brands if required and a thorough testing to make it as good as new. 

         The popularity of this industry can be owed to the quality of refurbishing. Say a product is used for 2 years in a hospital in Chicago and discarded. This product still has 5 years worth of good life left. The process of refurbishing means to “to renew or to restore to a new condition and/or appearance” and that is exactly what happens. The certification of any equipment will prove the authenticity and quality of the condition, and the price you pay for the same is less than 50% of the actual price. Due to this win-win situation, the used and refurbished medical equipment market size is expected to reach $20.28 billion in 2025 at a CAGR of 12.8%. North America was the largest region in the refurbished medical equipment market in 2020. But you would now understand why, Asia Pacific is predicted to record the fastest growth in the near future!