Medical Device Refurbished Medical Equipment Market | Page 2

REPORT DESCRIPTION
Refurbished Medical Equipment Market : Overview
Refurbished medical equipment is defined as a restored medical device rebuilt to a
condition that is comparable to the new equipment. Refurbishment includes
reconditioning, repair, installation of certain software/hardware updates without
changing the intended use of the original device, and replacement of worn parts.
Technology in terms of software, hardware and others is changing at a faster pace,
which shortens the interval between the purchase of superior systems and worn out
of preoccupied devices. Factors driving growth of refurbished medical equipment
market are increasing involvement of key manufacturers in refurbishment of their
equipment and increasing demand of cost effective systems by small scale private
hospitals and clinics. For example, high cost of huge and technologically complex
equipment such as MRI systems and CT scanners is a restraining factor for small
scale private hospitals and clinics, which leads to high demand for refurbished
medical equipment and in turn propelling the market growth.
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