Global Refurbished CT Scanners Market Assessment, By Technology [High-Slice CT, Mid-Slice CT, Low-Slice CT, Cone-Beam CT], By Type [Certified Refurbished, Customized Refurbished], By Application [Cardiology, Oncology, Neurology, Orthopedics, Others], By End-user [Hospitals and Clinics, Diagnostic Imaging Centers, Ambulatory Surgical Centers, Others], By Region, Opportunities and Forecast, 2017-2031F

Global refurbished CT scanners market is projected to witness a CAGR of 5.50% during the forecast period 2024-2031, growing from USD 1.75 billion in 2023 to USD 2.69 billion in 2031. 

Refurbished CT Scanners Market Size, Share, Growth & Analysis 2031

Global refurbished CT scanners market is projected to witness a CAGR of 5.50% during the forecast period 2024-2031, growing from USD 1.75 billion in 2023 to USD 2.69 billion in 2031. This growth is propelled by several key factors, including the rapid evolution of sensor technology, which enhances the precision and reliability of medical data. Cost-effectiveness, technological advancements, budget constraints in healthcare, increased demand for diagnostic imaging, environmental and sustainability considerations, improved refurbishment processes, availability of spare parts, regulatory support, and enhanced warranty and support services are key drivers of the refurbished CT scanners market.
Refurbished CT scanners play a crucial role in healthcare by offering cost-effective solutions for advanced diagnostic imaging. They make sophisticated imaging technology more widely available to a spectrum of healthcare facilities, from smaller clinics to larger institutions, with budgetary limitations. This expanded access is especially critical regarding equipment that may be out of the economic grasp for more traditionally underserved areas. Additionally, refurbished CT scanners contribute to environmental sustainability by extending the life of existing equipment and reducing electronic waste. It also addresses concerns related to capital availability, acting as a faster alternative for facilities with delayed shipments or limited quantities of new equipment. Refurbished CT scanners appropriately strike a balance between cost, functionality, and environmental impact to ensure that hospitals continue providing more with fewer diagnostic services.
In addition, the increasing investments and favorable government initiatives are driving the growth of the global refurbished CT scanners market. In July 2023, Radon Medical Imaging Inc. acquired Tristate Biomedical Solutions, LLC (Tristate), a provider of new, refurbished and used medical devices as well as a service provider. Tristate offers a wide range of biomedical and diagnostic medical imaging devices, including digital DR and CR, mammography, PET/CT, MRI, C-arm, and general x-ray equipment, among others. Tristate has a significant presence in the 16 states, covering mid-Atlantic and southeastern regions of the United States. Thus, this acquisition has helped Radon Medical Imaging Inc. to expand its presence in the south and mid-Atlantic states.
In May 2023, Siemens Healthineers AG and CommonSpirit Health announced their agreement to acquire Block Imaging, Inc. This acquisition aims to address the growing demand from U.S. hospitals, health systems, and other care facilities for multi-vendor imaging parts and services. By building on their existing partnership with CommonSpirit Health, Siemens Healthineers will enhance their ability to deliver greater value to customers and patients. Additionally, the acquisition supports efforts to repair and reuse equipment, contributing to waste reduction and sustainability.
<h2 style="text-align: justify;">Technological Advancements Drive Market Growth</h2>
Technological advances have provided a major thrust to the refurbished CT scanners market. Older CT scanners can now be refurbished with new and upgraded components to enable them to function optimally for a longer period as well as meet modern standards regarding performance and safety. Refurbished equipment can be paired with newer imaging technology advancements like better detectors, faster processors and so forth. More sophisticated calibration practices and diagnostic software will improve both the image quality and overall efficiency. These enhancements allow returned scanners to deliver the kind of high-resolution imaging that one might otherwise expect from a new model. In addition, improved refurbishment technology has made it possible to keep these in operation for much longer periods, and they are still a cost-effective alternative. This mix of a no-frills, efficient approach combined with modern technological functionality continues to propel the trend for purchasing refurbished CT scanners.
For instance, in April 2024, GE HealthCare Technologies Inc., a leading global provider of healthcare technologies, announced the launch of its A1-Sure refurbishing ultrasound systems&rsquo; facility in Bangladesh. This new facility is designed to make advanced diagnostic and clinical technologies more accessible to the rural populations in tier 2 and tier 3 cities in emerging, often underserved countries.
<h2 style="text-align: justify;">Budget Constraints on Healthcare Spending</h2>
One of the key drivers for this growth is budget constraints on healthcare spending. The new CT imaging machines from manufacturers are expensive, and many of the hospitals or medical places that depend on these systems have burgeoning operational costs due to tricky financial situations. However, the cost of bringing in a brand-new model could be too prohibitive, but with refurbished CT scanners, these facilities can gain access to such imaging technology without paying through their noses. It allows them to broaden their diagnostic toolbox without having higher priorities fall by the wayside. It is important to point out that refurbished gear usually has warranties and support, offering a valid solution if you are operating within budget constraints. Refurbished CT scanners enable smaller clinics and practices, as well as those located in rural or economically depressed areas, to stay up to date so they can remain competitive without breaking the bank.
For instance, the 2023 World Health Organization&nbsp;(WHO) report reveals that over the past two decades, fewer than a third of countries have improved health service coverage and reduced catastrophic out-of-pocket health spending. Additionally, among the 138 countries with data on both dimensions of Universal Health Coverage (UHC), 96 are falling short in either service coverage, financial protection, or both.
<h2 style="text-align: justify;">High-Slice CT Scanners Dominate the Market Share</h2>
High-slice CT scanners dominate the refurbished CT scan market by several obvious qualities. These scanners produce high-resolution images and decrease scanning times, which helps in early and correct diagnosis. For a cost-saving option against new models, high-slice CT scanners, such as Toshiba Aquilion 64 images, are available on the market. Many second-hand high-slice CT scanners will be refurbished, have new parts included, and warranties added to and extend the system life. They can do more detailed scans, which means that they are used in a wider range of medical practices. Furthermore, the increasing requirement for cost-effective as well as high-performance imaging solutions among emerging markets is further boosting their demand. These and other parameters collectively contribute to the leadership of high-slice CT scanners in the refurbished CT business.
<h2 style="text-align: justify;">Asia-Pacific&nbsp;to Register High Growth in the Global Refurbished CT Scanners Market</h2>
Asia-Pacific is expected to register significant growth in the global refurbished CT scanners market due to the development of healthcare infrastructure, rising incidence of chronic diseases and healthcare spending, and increasing adoption of advanced imaging procedures. Moreover, increasing cost pressure on hospitals to incorporate new technologies in medical devices stimulates the need for refurbished medical equipment&nbsp;at a lower price. As diagnostic methods are gaining more demand, owing to the rising awareness and due to continuous innovation in the digital medical equipment field, the refurbished systems&rsquo; supplier is expanding their presence and capacity of the facility. For instance, in April 2022, Blue Star Limited, a wholly owned subsidiary of Blue Star Engineering &amp; Electronics Ltd, established a refurbishment facility in Maharashtra, India. This facility is equipped to refurbish medical diagnostic equipment, including CT scanners. This facility aimed to improve the availability of high-quality and affordable medical imaging equipment in tier 2, 3 and 4 cities in India.
Similarly, various major and small companies are in the region, which makes it easy for transportation and delivery of refurbished medical equipment to be transported and delivered easily due to setting up ground that will grow market size vastly.
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Future Market Scenario (2024-2031F)
Medical infrastructure expansion is a major factor that drives growth in the refurbished CT scanners market. There is an increasing demand for diagnostic imaging equipment as new healthcare facilities are being constructed and old ones revamped, particularly in regions that are yet to develop or serve underprivileged areas. Refurbished CT scanners present an affordable solution to satisfy this growing prevalence without the tremendous expense of new ones. This expansion results in the establishment of hospitals, clinics, and diagnostic centers generally hampered by budget restraints, prompting the buying of old equipment to utilize available resources. Refurbished CT machines are also great for older facilities located in rural or remote areas where updated technology may not be easily accessed to increase diagnostic power.
For instance, as India's domestic market for medical devices is projected to reach USD 50 billion by 2030, reducing its current reliance on imports, which stands at 64%, will require targeted policy interventions. The National Medical Devices Policy, 2023 marks a significant step, yet the challenges of import dependence and underutilized domestic potential persist.
Report Scope
&ldquo;Refurbished CT Scanners Market Assessment, Opportunities, and Forecast, 2017-2031F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, that provides an in-depth analysis and qualitative and quantitative assessment of the current state of the global refurbished CT scanners market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
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Details
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Base Year of the Analysis
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2023
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Historical Period
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2017-2022
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Forecast Period
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2024-2031
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Projected Growth Rate
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CAGR of 5.50% between 2024 and 2031
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Revenue Forecast in 2031
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USD 2.69 billion
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Segments Covered
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Technology, Type, Application, End-user
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Regions Covered
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North America, Europe, South America, Asia-Pacific, Middle East and Africa
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Key Companies Profile
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GE HealthCare Technologies Inc., Koninklijke Philips N.V., Siemens Healthineers AG, TTG Imaging Solutions, LLC, LBN Medical ApS, Blue Star Limited, Richardson Electronics, Ltd., Edge Medical Solutions Pvt.&nbsp;Ltd., Medsystems Sp. z o.o., Radiology Oncology Systems, Inc.
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In the report,&nbsp;global refurbished CT scanners market&nbsp;has been segmented into the following categories:&nbsp;
<ul style="text-align: justify;">
<li>By Technology
<ul>
<li>High-Slice CT</li>
<li>Mid-Slice CT</li>
<li>Low-Slice CT</li>
<li>Cone-Beam CT</li>
</ul>
</li>
<li>By Type
<ul>
<li>Certified Refurbished</li>
<li>Customized Refurbished</li>
</ul>
</li>
<li>By Application
<ul>
<li>Cardiology</li>
<li>Oncology</li>
<li>Neurology</li>
<li>Orthopaedics</li>
<li>Others</li>
</ul>
</li>
<li>By End-user
<ul>
<li>Hospitals and Clinics</li>
<li>Diagnostic Imaging Centers</li>
<li>Ambulatory Surgical Centers</li>
<li>Others</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>South America</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
The global refurbished CT scanners market is competitive, with a major number of players at local levels. Regulatory approvals of company products, mergers and acquisitions, and collaborations are the most common market strategies that have been observed in recent times.
In December 2023, Johnson &amp; Johnson Services, Inc. (J&amp;J) launched a sustainability initiative &ndash; Digital Health in a Circular Economy (DiCE). For this initiative, J&amp;J has collaborated with 20 organizations from nine European countries with expertise in research, manufacturing, recycling, remanufacturing, and refurbishing of medical instruments.
In October 2023, GE HealthCare Technologies Inc. and reLink Medical LLC announced a collaboration to provide asset management solutions to healthcare providers. This partnership is designed to reduce medical device waste, enhance operational efficiency, and optimize equipment utilization. The collaboration includes a standardized solution for disposing of medical equipment that is no longer needed, which involves selling, recycling, or donating such equipment.
Key Players Operating in the Global Refurbished CT Scanners Market are:
<ul style="text-align: justify;">
<li>GE HealthCare Technologies Inc.</li>
<li>Koninklijke Philips N.V.</li>
<li>Siemens Healthineers AG</li>
<li>TTG Imaging Solutions, LLC</li>
<li>LBN Medical ApS</li>
<li>Blue Star Limited</li>
<li>Richardson Electronics, Ltd.</li>
<li>Edge Medical Solutions Pvt.&nbsp;Ltd.</li>
<li>Medsystems Sp. z o.o.</li>
<li>Radiology Oncology Systems, Inc.</li>
</ul>
Markets and Data&rsquo;s reports answer the following questions:
<ul style="text-align: justify;">
<li>What is the current and future market size of the product/service in question globally or specific to different countries?</li>
<li>How are the markets divided into different product/service segments and the market size and growth of each segment?</li>
<li>What is the market potential of different product segments and their investment case?</li>
<li>How are the markets predicted to develop in the future and what factors will drive or inhibit growth?</li>
<li>What is the business environment and regulatory landscape specific to the product/service?</li>
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Global Refurbished CT Scanners Market Assessment, Opportunities and Forecast, FY2017-FY2031F

The global refurbished CT scanners market is expected to experience growth due to cost-effectiveness, technological advancements, budget constraints in healthcare, increased demand for diagnostic imaging, environmental and sustainability considerations, improved refurbishment processes, availability of spare parts, regulatory support, and enhanced warranty and support services

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