The global refurbished ultrasound devices market is set to witness a CAGR of ~8% in the next 5 years. Cost effectiveness & affordability of refurbished ultrasound devices, rising demand for ultrasound imaging, growth in used medical equipment industry, sustainability & circular economy benefits, growing adoption in emerging markets, and favorable regulatory trends, are some of the key factors driving the refurbished ultrasound devices market.
Refurbished ultrasound machines or used ultrasound machines are imaging systems that were owned by someone else and have gone through a verification, for any repair needs, parts replacements, calibration, and quality checks so as to allow them to be re-sold as new. Refurbished ultrasound machines go through rigid refurbishing processes to ensure they meet OEM specifications for use. Refurbished ultrasound machines are generally used in diagnostic imaging in cardiology, obstetrics, and abdominal imaging. Refurbished ultrasound machines offer a cost-effective alternative to new ultrasound machines. New ultrasound machines may not be affordable for some health care facilities that do not have a budget for new equipment. Refurbished ultrasound machines are especially valuable to rural hospitals, diagnostic imaging centres, and emerging markets that need affordable quality imaging devices.
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Cost effectiveness & affordability of refurbished ultrasound devices to drive market growth
One of the primary factors driving the demand for refurbished ultrasound devices is their price. Compared to new equipment, refurbished ultrasound devices typically cost ~35–65% less than initial retail price, making them valuable for a healthcare provider looking to maximize return on investment. These systems, although pre-owned or previously used devices, still meet quality performance standards after carefully considered practice for refurbishing and retesting. Furthermore, these low-cost alternatives provide greater access to diagnostic imaging and follow-up or monitoring care especially in underserved or rural areas that are not having the ability to have the continued care needed. In addition, these also allow hospital or diagnostic center in practicing capital expense control while providing imaging services. Given the continual cuts in healthcare funding worldwide, the demand for high-quality, low-cost refurbished ultrasound imaging devices, is likely to continue to grow.
Consolidation and OEM participation – A key market trend
Consolidation and OEM participation is an important trend in this market. Some of the OEMs, like Siemens Healthineers, GE Healthcare, and Philips, are entering the refurbishment space with in-house programs and acquisitions. For instance, in April 2024, GE Healthcare launched its A1-Sure refurbishing ultrasound facility in Bangladesh to offer affordable, high-quality diagnostic equipment to underserved rural areas. The certified, high-quality refurbished devices from OEMs include warranty, service support, and regulatory compliance which enhances patient/member confidence in these imaging modalities. Moreover, as OEMs are entering the refurbished supply chain, they are creating standards for refurbishment and increased transparency. With the growing demand for cost-effective imaging solutions, this trend of consolidation is likely to strengthen market credibility and drive growth by ensuring reliability, performance assurance, and long-term value for healthcare providers.
Competitive Landscape Analysis
The global refurbished ultrasound devices market is marked by the presence of established and emerging market players such as GE Healthcare, Koninklijke Philips N.V., Siemens Healthineers, Canon Medical Systems Corporation, Agito Medical, Block Imaging, Inc., EVERX, Radiology Oncology Systems, Avante Health Solutions, and AceVision Ultrasound, LLC; among others. Some of the key strategies adopted by market players include new product development, strategic partnerships and collaborations, and geographic expansion.
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Global Refurbished Ultrasound Devices Market Segmentation
This report by Medi-Tech Insights provides the size of the global refurbished ultrasound devices market at the regional- and country-level from 2023 to 2030. The report further segments the market based on product, application, and end user.
Market Size & Forecast (2023-2030), By Product, USD Million
Others Market Size & Forecast (2023-2030), By Application, USD Million
Market Size & Forecast (2023-2030), By End User, USD Million
Market Size & Forecast (2023-2030), By Region, USD Million
About Medi-Tech Insights
Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.
Contact:
Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
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