U.K. Refurbished Medical Devices Market Outlook

the uk refurbished medical devices market is projected to witness high growth during 2018-2032, driven by the rising prevalence of chronic diseases and medical conditions, an increase in aging population, and the proliferation of technologically advanced medical devices. in terms of end-user, the market is dominated by hospitals, representing more than a third of overall share. rising affordability of refurbished medical devices vis-a-vis new medical devices is likely to help the segment grow in the near future. retail pharmacies and independent retailers are some of the other prominent end-users operating in the market. in terms of product type, the uk refurbished medical devices market is dominated by imaging equipment, such as x-ray, mri, ultrasound, and ct scanners. the trend is expected to continue during the forecast period owing to the increasing adoption of diagnostic imaging tests to detect various medical conditions. other prominent product types used in the market include vision care devices, endoscopes, cardiovascular systems, patient monitoring systems, and orthopedic devices. the expected growth in the uk refurbished medical devices market is likely to be driven by significant changes in the healthcare system. healthcare providers, including nhs trusts, are expected to invest heavily in high-quality refurbished medical devices. moreover, the emergence of a regulated refurbishment system, where all the steps in the process are monitored, is likely to be a major driver for the market. the market is consolidated, with a few major players accounting for a majority of the overall share. with the increasing demand for medical devices, new companies are expected to enter the market in the near future. strategic collaborations and acquisitions are likely to hold a prominent position in the market as companies strive to gain a competitive edge. overall, with the increasing demand for medical devices and the emergence of a regulated refurbished medical device market, the uk refurbished medical device market is expected to witness significant growth during 2018-2032.