Refurbished MRI Systems Global Market Report 2024

The refurbished MRI systems market size has grown rapidly in recent years. It will grow from $0.7 billion in 2023 to $0.77 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth during the historic period can be attributed to several factors, including the need for cost-effective solutions in healthcare, limitations within healthcare budgets, an overall increase in healthcare expenditures, the rising prevalence of chronic diseases, and the demand for advanced diagnostic tools.

The refurbished MRI systems market size is expected to see rapid growth in the next few years. It will grow to $1.15 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to several factors, including the rising demand for affordable medical devices, increasing awareness about healthcare benefits, expanding demographics of the aging population, government initiatives aimed at improving healthcare, and efforts to enhance healthcare access. Major trends expected during this period include technological advancements in refurbishment processes, increased availability of certified pre-owned MRI systems, expansion of independent refurbishing companies, a heightened focus on sustainability and eco-friendly practices, and growth in online sales channels and platforms.

The surge in demand for healthcare services is poised to drive the growth of the refurbished MRI systems market in the foreseeable future. Healthcare services encompass a spectrum of medical and wellness treatments, spanning preventive, diagnostic, therapeutic, and palliative care, aimed at maintaining or improving individuals' health. Factors fueling this demand include an aging population, the increasing prevalence of chronic diseases, advancements in medical technology, and expanded healthcare access. Refurbished MRI systems address this demand by offering cost-effective, high-quality imaging solutions that enhance diagnostic capabilities and accessibility. For example, healthcare spending in the UK rose significantly between 2020 and 2021, with a substantial increase in preventive care expenditure, highlighting the growing demand for healthcare services and subsequently, the refurbished MRI systems market.

Leading companies in the refurbished MRI systems market are intensifying their efforts to forge strategic partnerships aimed at establishing refurbished MRI departments, thereby providing patients with a more comfortable and accessible MRI experience. These departments house previously-owned MRI systems that undergo comprehensive maintenance and upgrades to ensure optimal performance, offering cost-effective imaging services to patients. For instance, Surrey and Sussex Healthcare NHS Trust (SASH) collaborated with InHealth Group to inaugurate a refurbished MRI department at East Surrey Hospital, equipped with state-of-the-art Siemens Sola MRI scanners and a ceiling-mounted MRI injector system. Operating from 7 a.m. to 10 p.m. Monday to Friday, this modern clinical environment enhances patient accessibility and imaging quality. The adoption of wide-bore MRI scanners and cutting-edge technology in partnership with InHealth signifies significant progress in the refurbished MRI systems market, prioritizing patient comfort, accessibility, and imaging quality while setting a standard for cost-effective hospital upgrades.

In May 2023, Siemens Healthineers and CommonSpirit Health jointly acquired Block Imaging to address the growing need for sustainable options and multi-vendor imaging parts and services in the United States. This acquisition strengthens their ability to meet the increasing demand for refurbished medical imaging equipment from hospitals, health systems, and other care facilities. Block Imaging is a renowned provider of refurbished medical imaging equipment based in the US.

Major companies operating in the refurbished mri systems market are Hitachi Ltd., Siemens Healthineers, Koninklijke Philips N.V., GE Healthcare, Hologic Inc., Canon Medical Systems Corporation, Shimadzu Corporation, Onex Corporation (Carestream Health), Cameco Corp., Barco N.V., First Source Inc., Oxford Instruments Healthcare, Esaote SpA, Nordion Inc., Block Imaging International Inc., Meridian Leasing, Radio Oncology Systems Inc., Soma Technology Inc., Amber Diagnostics, Innovative Imaging Technologies, Avante Health Solutions, Integrity Medical Systems Inc., LBN Medical, DirectMed Parts & Service LLC, EverX Pty Ltd., Atlantis Worldwide LLC, BMI Biomedical International, TRACO Medical, Tekyard Medical.

North America was the largest region in the refurbished MRI systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the refurbished mri systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the refurbished mri systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Refurbished magnetic resonance imaging (MRI) systems are previously owned MRI machines that have undergone maintenance and upgrades to ensure optimal functionality. These systems are utilized for diagnostic imaging in medical facilities seeking cost-effective solutions to enhance their imaging capabilities.

The main types of architecture found in refurbished MRI systems are closed systems and open systems. Closed-system MRI scanners encompass machines where the magnet surrounds the patient entirely. They come in various field strengths including low-field strength, mid-field strength, and high-field strength. These systems are utilized by various end users such as hospitals, imaging centers, ambulatory surgical centers, and others.

The refurbished MRI systems market research report is one of a series of new reports that provides refurbished MRI systems market statistics, including refurbished MRI systems industry global market size, regional shares, competitors with a refurbished MRI systems market share, detailed refurbished MRI systems market segments, market trends and opportunities, and any further data you may need to thrive in the refurbished MRI systems industry. This refurbished MRI systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The refurbished MRI systems market consists of sales of extremity MRI systems, mobile MRI Systems, and Tesla MRI Systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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