The Growth Potential of the Refurbished Medical Equipment Industry

The future potential for the refurbished medical equipment industry brightens with each passing day. As clinics in third world countries steadily increase in number, health care providers in emerging markets face the daunting task of sourcing sound medical devices at an affordable price. At the same time, budget-conscious private practitioners in industrialized nations are always in search of a way to stretch their budgets. Companies that specialize in the sale of refurbished medical equipment offer a cost-effective solution for doctors and surgeons who must operate within a tight budget while simultaneously providing high quality care for their patients.

The process of refurbishing medical equipment involves a thorough inspection and testing of pre-owned devices by trained biomedical technicians. In most cases, worn parts are replaced and the device is cosmetically detailed by technicians. Standard accessories are often included with the device and an operators manual is usually provided along with the device. The most trusted refurbishing companies typically ensure that devices meet the specifications set by the original manufacturer.

Professionally refurbished medical equipment is advantageous to buyers for a number of reasons. In addition to the tremendous cost savings that buyers will enjoy, purchasers of professionally refurbished equipment receive a product that meets or exceeds the standards set by the original manufacturer. Doctors and surgeons are able to afford equipment produced by manufacturers that they trust, and they can take comfort in knowing that the equipment has received a thorough inspection by a trained technician. Buyers are also drawn to refurbished medical equipment because the purchase price typically includes a warranty.

Health care professionals are increasingly drawn to refurbished medical devices because they often cost 50% less than brand new devices. For example, a brand new name brand surgical table can cost over $25,000 USD while the exact same model may only cost $12,000 to $15,000 USD in refurbished condition. And because most medical equipment companies only carry brand new devices, the emergence of companies that offer affordable refurbished devices is refreshing to many health care professionals.

With the ability to buy refurbished equipment at a fraction of the cost of new products, doctors and hospital administrators are realizing that they can treat a larger number of patients by purchasing refurbished devices. For instance, the owner of a surgery center can purchase a comprehensive package of refurbished equipment including a surgical table, anesthesia machine, monitor and cautery device for less than the cost of one new surgical table. The same facility could also purchase three refurbished incubators for the same price as one new incubator, thereby allowing them to treat more infants at the same time.

While there are many doctors and surgeons in America who believe in the value of refurbished medical equipment, the largest potential for industry growth lies in the increasing demand for refurbished products by medical professionals in emerging markets. Doctors and surgeons in Africa, Southeast Asia, The Middle East and Latin America are buying refurbished equipment with growing frequency. Many health care professionals in these geographical areas are faced with the prospect of furnishing an entire operating room on a shoestring budget, and the allure of refurbished equipment is often too great to ignore.

The refurbished medical industry presents a cost-effective solution to health care practitioners across the globe. Doctors and surgeons are able to make the most of their budgets and treat more patients by investing in refurbished devices. And as health care communities become increasingly familiar with these benefits of refurbished medical equipment, the demand for professionally refurbished medical devices will continue to grow.

–          Guest Contributor