Indian refurbished medical equipment market is expected to grow at a lucrative CAGR of 14.5% from 2014 to 2020. Growing demand for low-cost medical devices due to financial constraints, increasing privatization in the healthcare sector, and rising adoption of refurbished medical devices in Northern states of the country are the key factors fuelling the growth of the Indian refurbished medical equipment market. In addition, factors such as aging population and growing incidence/prevalence of lifestyle diseases are further propelling the market growth. However, procurement policies of most public and large private hospitals are against use of refurbished medical equipment due to lack of standards and regulations for manufacturing, imports, and sale of new and pre-owned/used/refurbished medical equipment in India. Furthermore, negative association associated with the quality of refurbished medical equipment among healthcare providers and patients is impeding the growth of market in India.
India is the largest market for refurbished medical devices among all Asian countries. Low cost of refurbished medical equipment and increasing prevalence of diseases are the major drivers for the growth of Indian refurbished medical equipment market. A major portion of Indian population lacks access to quality healthcare due to very high costs of medical equipment. Refurbished medical equipment offer an alternative to healthcare service providers. As of results, the demand for used/refurbished medical devices in India will continue to grow in coming future.
DRE, Inc. (U.S.), GE Healthcare (U.S.), Masters Medical Equipments Pvt. Ltd, (India), Philips Healthcare (Netherlands), Siemens Healthcare (Germany), and Soma Technology, Inc. (U.S.), Sanrad Medical Systems Pvt. Ltd. (India), and Zigma Meditech (India) are some of the key players in Indian refurbished medical equipment market.
No comments:
Post a Comment