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Analysis of the European Refurbished Medical Imaging Equipment Market

  • September 2013
  • 130 pages
  • Frost & Sullivan
Report ID: 1889358

Summary

Table of Contents

Trends and Dynamics in the Used or Pre-owned Medical Imaging Systems Market

This research service provides an in-depth analysis of the European refurbished medical imaging equipment market. It analyses the revenue potential, market dynamics, and trends across countries in Central and Eastern Europe and Western Europe as a combined European market. The revenue of the European refurbished medical imaging equipment market has been derived from studying the dynamics of different segments. The refurbished medical imaging equipment market has been segmented based on geographies as well.

Executive Summary—Key Findings

• Increasing medical procedures in hospitals and long waiting times have increased the need for medical imaging equipment in hospitals.
• As new technologies emerge, many large hospitals look to update their systems by replacing older systems before their due replacement times. These old systems are refurbished for resale.
• The refurbished medical imaging equipment market is majorly driven by the increasing privatisation of hospitals, and the need to streamline healthcare expenses in hospitals.
• As the demand for imaging procedures in Europe increases and hospitals look to adopt the latest technology within their limited budgets, refurbished imaging systems offer a good option for these hospitals.
• Government regulations that impact the reimbursement rates for aging modalities are not uniform and doubts of liability of old systems seem to pull back growth in certain regions.
• Private sector healthcare establishments that aim to achieve excellent returns on investment (ROI) are the major customers of refurbished imaging systems.
• Central and Eastern Europe (CEE), with a developing private sector and emerging opportunities for medical tourism, is moving towards adopting the latest technology to match European standards.
• High price sensitivity and financial instability in the healthcare sector in many regions of CEE influence customers to procure refurbished imaging systems that offer immense value for money.
• Certain regions are already showing excellent prospects of growth in demand for latest imaging modalities at low cost. These opportunities can be leveraged in many untapped regions across Western Europe and CEE.
• The refurbished medical imaging equipment market is dominated by original equipment manufacturers (OEM), while some independent vendors and brokers sell reconditioned systems.
• Magnetic resonance (MR) and computed tomography (CT) have dominated the refurbished market but ultrasound has shown immense demand over the last few years.
• Increasing breast imaging and nuclear medicine procedures promote the growth of mammography and positron emission tomography (PET) systems, and the demand for these systems is expected to grow with time.
• An increasing demand for hybrid operating rooms (OR) in many hospitals in CEE will continue to drive the demand for C-arms and interventional imaging systems over time.
• OEMs follow strict guidelines and provide ‘same as new’ warranty on their refurbished products which gives them an edge to win customer faith.
• While there are some independent participants who refurbish the electronic parts of used modalities, most of them recondition the cosmetic condition of the equipment.
• With the Eurozone crisis and cuts in healthcare budgets in Europe, the demand for quality technology in hospitals can be met by refurbished imaging modalities.
• Recent years have seen an increased acceptance of refurbished systems in many public hospitals and government regulations are aimed at facilitating the benefits that these systems provide.
• With more smaller hospitals trying to adapt imaging systems into their budgets, the market for refurbished medical imaging equipment is expected to maintain consistent growth, despite the few odds, to grow at a CAGR of X% between 2012 and 2019.

Key Questions This Study Will Answer

Is the demand for imaging systems in smaller hospitals and private clinics growing, how will it influence the refurbished medical imaging equipment market? Is the European market expected to grow? How long will it continue to grow and at what rate?
What is the scope of growth in the refurbished medical imaging equipment market, and what opportunities are important to leverage in view of the future?
As hospitals are cutting down their expenditure, would refurbished systems cater efficiently to their imaging needs? Do these systems help in catering to the highly indebted hospitals in regions impacted by the Eurozone crisis?
How does the political and reimbursement scenario in some regions of Europe affect the market? To what extent would this impact the growth of the market?
What are the most important segments in the market? Which segments are growing in Europe?
What important trends are expected to have an impact on the market in the future? Which countries are showing good prospects for the market?

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