PRE-OWNED MEDICAL DEVICES MARKET ANALYSIS

Lack of awareness about refurbished medical devices being a viable and cost-effective option can hamper the global pre-owned medical devices market growth. Many hospitals and healthcare facilities in developing nations are not fully aware about the benefits of procuring refurbished medical equipment. These have concerns around the quality, lifespan and reliability of pre-owned devices. This is primarily due to the stigma attached to terms like 'used' and 'refurbished' in the medical equipment sector. However, what many of them fail to realize is that refurbished does not necessarily mean sub-standard. Refurbishing processes are very thorough and involve complete dismantling of devices, replacement or repair of worn-out parts, extensive quality assurance testing and renewal of certifications.

Market Opportunities: Increasing adoption of nitinol-based medical products worldwide

Rural regions across developing nations have witnessed tremendous growth in healthcare requirements due to rising income levels and awareness. However, access to advanced healthcare remains a challenge due to low density of healthcare facilities and affordability concerns for newer medical devices. This untapped rural patient pool can be served more effectively through pre-owned medical devices. Refurbished devices which are 20-30% cheaper than new ones, not only increases accessibility but also allows for higher return on investment for rural hospitals/clinics. This expand healthcare coverage while keeping operational costs under check. Nations like India have ambitiously targeted building primary health centers in rural areas under Ayushman Bharat program. Pre-owned devices emerge as a viable and sustainable option to equip these new rural centers with advanced diagnostics and treatment capabilities.