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Medical devices are a key part of to the International Diabetes Federation (IDF), 11.4% of the US population has diabetes and approximately a quarter of this patient group are undiagnosed. Meanwhile, the number of new cases of cancer in the US is forecast to increase from 1.6mn in 2012 to 2.1mn in 2025, according to Globocan.modern healthcare, and medical equipment manufacturers are crucial players within the healthcare system value chain, working especially closely with
universities, research institutions, clinics, hospitals and pharmaceutical companies.
According to a recent report by Markets to the International Diabetes Federation (IDF), 11.4% of the US population has diabetes and approximately a quarter of this patient group are undiagnosed. Meanwhile, the number of new cases of cancer in the US is forecast to increase from 1.6mn in 2012 to 2.1mn in 2025, according to Globocan.& Markets, the global refurbished medical devices market is expected to reach USD 11.91 billion by 2021, at CAGR of 12.7% from 2016 to 2021.
Within the product categories, the medical imaging equipment segment was estimated to hold the largest share of
the refurbished medical equipment market in 2016.
According to a blog post by TforG.com (an IQVIA company) titled Sustainable Medtech: An overview of the Refurbished Medical Equipment Market, a key factor to the refurbished medical device market is the matter of regulation.
Ironically, according to the blog, many of the lower income nations categorically inhibit the entry of refurbished or used products, through stringent or impeding regulations. Meanwhile, many high-income nations - who have the most advanced medical equipment already - are also setting forth regulatory frameworks to optimize the entry of refurbished products.
The blog continues: “Arguably, the lesser developed nations perhaps do not have the administrative and technical resources to ensure a quality control system and therefore avoid the market altogether. Nonetheless, the fact that refurbished equipment can be 100% equivalent to its identical un-used version, yet at a price 20-60% lower than the original price, make it the optimal solution to underdeveloped, under-resourced national healthcare