REFURBISHED MEDICAL EQUIPMENT MARKET SCENARIO OF INDIA

REFURBISHED MEDICAL EQUIPMENT MARKET SCENARIO OF INDIA  

INTRODUCTION 

Refurbishment is restoration of equipment or device to a reusable condition without changing the basic specifications of the device. The process of refurbishing medical devices ensures the safety and efficacy of the device so that the performance of the device is not altered. 

There has been an increase in demand for the refurbished medical equipment market globally, along with the new equipment market.  

Considering the above facts, Hospaccx team work on market trends and dynamic of refurbished medical equipment. This is macroficial study of Refurbished Medical Equipment Market Scenario of India if you want to get into more detail you can contact hospaccxconsulting.com 

GLOBAL REFURBISHED MEDICAL EQUIPMENT MARKET 

• The Global Refurbished Medical Devices Market is expected to exceed more than US$ 13 Billion by 2022 and will grow at a CAGR of more than 12.5%. 
• The cardiovascular & cardiology equipment segment is expected to be fastest growing type segment in the global refurbished medical equipment market with a CAGR over 9.5% between 2017 and 2026. 

• The market in North America accounted for highest revenue share in the global refurbished medical equipment market in 2016, and is expected to register a CAGR over 9.5% between 2017 and 2026. 
• Europe is expected to witness a significant growth in this market in coming five years owing to increasing healthcare expenditures due to increased life expectancy and an aging population in Europe. 

  

REFURBISHED MEDICAL EQUIPMENT MARKET IN INDIA 

• India is the largest market for refurbished medical devices among all Asian countries.  

• Indian refurbished medical equipment market is expected to grow at a lucrative CAGR of 14.5% from 2014 to 2020.  
• Northern states of the country are the key factors fuelling the growth of the Indian refurbished medical equipment market. 

MARKET DRIVERS FOR REFURBISHED MEDICAL EQUIPMENT IN INDIA 

• Increasing privatization in the healthcare sector, this transfer of public goods and services to the private sector will stimulate market competition and improve the efficiency and quality of service provision. 
• Poor reimbursement scenario for various medical treatments, especially in rural areas.  
• Presence of a large number of hospitals/clinics with budget constraints in developing countries are the major factors driving the growth of this market. 
• The refurbished equipment is 50% to 60% cheaper than the original equipment cost. 

CHALLENGES FOR REFURBISHED MEDICAL EQUIPMENT IN INDIA 

• Many people perceive used or pre-owned products to be of inferior quality and hence don’t want to buy refurbished products 
• There are no after sales services, which add to the cost of such products by roughly 50-60% of the cost of the refurbished product 
• There are players in the unorganized sector that do not do proper refurbishing of the equipment and hence are able to price the equipment lower than their organized counterparts 

LIST OF REFURBISHED MEDICAL EQUIPMENT SUPPLIERS 

1. Man Machine Electronics – Telangana

Established in the year 1994, as a supplier, exporter and wholesaler, they deal in new as well as refurbished Ultrasound Probe, Ultrasound Scanner, Color Doppler, Ultrasound Machine, Ultrasound System, Medical Equipment, etc.  

2. Bangalore Medical Systems (BMS) Pvt. Ltd. – Karnataka

BMS established in the year 2003, BMS Pvt. Ltd is exclusive Authorized Distributor for EDAN, NASCO, and MEDIANA etc. BMS providing world class monitoring and training system. They have strong installations for Medical equipment and services. BMS is the Exclusive Authorized distributor of MASCO in India for more than 10 years. They have training tent in Bangalore where LS&BS programs are conducted on the regular basis with tie up Leading Emergency. 

3. Bionation Imaging Pvt. Ltd. – Delhi

Established in 2012, it is an ISO 9001:2000 certified company. 

4. Zenith Medical Systems Pvt. Ltd. – Delhi

Established in the year 1994. 

5. Matrix Medi Services – Mumbai

Established in 2011, they offer Medical Equipment, Hospital Medical Equipment and Hospital Furniture, keeping a large number of factors in mind like safety, comfort, ease of installing, etc. They are Supplier and Traders of ICU Products, Refurbished CT Scan, ABG Analyzer, along with a host of various other products.  

6. Tecpharma System Inc. – Telangana

In the year 2007, Techpharma System Inc., commenced with the aim to meet market demands for Bio Medical Equipment, Deep Freezers and ULT (Ultra Low Temperature) Freezers. Today, they are leading the industry as a trader and suppliers of these high quality medical industry products.  

7. A to Z Hospital Solutions (P) Ltd. – Delhi

Established in the year 2010. 

8. Procare Medical System – Delhi

Procare Medical Systems is one of the fastest growing manufacturer, supplier and exporter of the medical industry. They offers a broad gamut of OT Lights, Video Endoscope, Ultrasound Machine, ICU Ventilator, Arthroscopy Equipment, Spine Equipment and Video Endoscope. Along with these, the firm offers ENT Endoscopy Equipment, Defibrillator, ECG Machine, Colposcopy Equipment, Hospital Furniture, Anaesthesia Ventilator/ Anesthia Machine etc.  

9. Amber Diagnostics India – Haryana

Established in the year 1994. 

10. Irays Medtech Solution Pvt. Ltd. – Haryana

Irays Medtech Solution Pvt. Ltd., have taken the noble step forward to suffice the medical industry with high-grade surgical and patients monitoring equipment. As an eminent Manufacturer, Supplier, Trader and Service Provider of Medical Instrument like Digital ECG Machine, Portable Digital ECG Machine, etc. They have mastered the art of producing quality medical equipment such as X Ray Machine, Medical X Ray Machine, ECG Machine, Bipap Machine, Cpap Machine and Radiant Warmer. All these products are configured with scientific innovation, giving strong emphasis on prevailing industry trends.  

 

CONCLUSION 

India is one of the largest emerging medical equipment markets in the world.  As the service providers are focusing on Indian rural markets coupled with cost sensitivity, the demand for refurbished medical equipment is anticipated to grow. The healthcare service provider’s view refurbished medical equipment as an alternative to new equipment that drive the costs high. Hence, India has a huge scope for refurbished medical equipment market. 

 

 

Are you planning to buy refurbished medical equipment in India? Looking for information about the major healthcare players in refurbished medical equipment market that are available in India? Hospaccx Projects of the units of Hospaccx is involved in manufacturing and procurement part of the medical equipment. 

It is the superficial and macro level survey if you need more details kindly contact Hospaccx Healthcare business consulting Pvt. ltd on hospaccx.india@gmail.com Or you can visit our website on hospaccxconsulting.com

Related Team Members