The global refurbished market has seen challenging and dynamic market conditions, but still remains strong, with a size of approximately $8.45 billion in 2017 and an estimated annual growth rate of 7.8% over the next five years. Affordable offerings of used branded products and enhanced access to replacement parts and repair technology are contributing to widespread adoption of the refurbished medical devices by healthcare institutions worldwide.
The refurbished medical equipments market is operated by mainly two kinds of players; original equipment manufacturers (OEMs) and third party manufacturers. Major OEMs include GE Healthcare (U.K), Siemens Healthcare (Germany), Philips Healthcare (The Netherlands), Stryker Corporation (U.S.), Johnson & Johnson (U.S.) and Toshiba Medical System (Japan) and third party vendors including Soma Technology (U.S.), Agito Medical (Denmark), DMS Topline Medical (U.S.), and First Source, Inc. (U.S.).
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