Healthcare Asset Recovery Market Size is predicted to represent a 8.1% CAGR during the forecast period for 2024-2031.
Healthcare asset recovery is the reclaiming, reusing, or correctly disposing of healthcare assets and equipment that are no longer required, obsolete, or have reached the end of their useful life. Healthcare asset recovery is a complicated process that requires planning and carrying out with great care. Healthcare facilities, asset recovery experts, and other partners and groups committed to reusing and properly removing healthcare assets work together on this project. Healthcare groups can save money, protect the environment, and help with global health initiatives by implementing appropriate asset recovery programs.
The global expansion of healthcare asset recovery infrastructure drives the demand for affordable asset recovery solutions, especially in emerging nations. This expansion is ensuring that new institutions have the medical equipment they need. Furthermore, expanding healthcare facilities and networks worldwide and the rising need for efficient and affordable equipment solutions are driving the healthcare asset recovery services industry. In addition, the market is anticipated to be propelled by increased government investments in market research and development and technology advancement.
However, regulating asset recovery services at the national, regional, and municipal levels is a complex process that can slow the growth of the worldwide healthcare asset recovery industry. This expansion is expected to be further fueled by changes in consumer behaviour and demographics and government initiatives that encourage market growth.
Competitive Landscape
Some Major Key Players In The Healthcare Asset Recovery Market:
- SpendMend
- Revert Inc.
- Lenovo
- Dell
- Asset Recovery Services
- OnProcess
- Midwest Lender Services
- PRAESIDIO GROUP
- Speedy Repo
- Recovery Solutions
- Other Prominent Players
Market Segmentation:
The healthcare asset recovery market is segmented based on asset type, organization size, and application. Based on asset type, the market is categorized into medical equipment, IT hardware, and software. According to organization size, the market is segmented into small clinics, mid-sized hospitals, and large medical facilities. By application, the market is segmented into data security and environmentally sustainable practices.
Based On The Asset Type, The Medical Equipment Segment Is Accounted As A Major Contributor To The Healthcare Asset Recovery Market.
The medical equipment healthcare asset recovery market is expected to lead with a major global market share in 2023 because new medical equipment is constantly evolving, necessitating regular upgrades and replacements. Effective asset recovery solutions to recycle or dispose of old medical equipment are also in high demand due to the growing concern for healthcare institutions' environmental impact and financial management. More affordable, high-quality medical equipment is available to healthcare organizations through asset recovery, which is helpful for facilities with smaller budgets and the industry's overall market growth.
Mid-Sized Hospitals Segment To Witness Growth At A Rapid Rate.
The mid-sized hospital segment is projected to grow rapidly in the global healthcare asset recovery market because they are in the special situation of finding a middle ground between cutting costs and implementing cutting-edge medical technology. The constant need to replace obsolete equipment is driven by the regular modifications these institutions undertake to remain competitive and deliver high-quality care. As a result, asset recovery services are in high demand, especially in countries like the US, Germany, the UK, China, and India.
In The Region, The North American Healthcare Asset Recovery Market Holds A Significant Revenue Share.
The North American healthcare asset recovery market is expected to register a large market share in revenue in the near future. This can be attributed to several reasons, including an extensive healthcare system, rising consumer expenditure, and enabling governmental initiatives. In addition, Asia Pacific is estimated to grow rapidly in the healthcare market's global asset recovery because of the growing investment for cutting-edge research and development in this area, growing demand for service providers, and the necessity of optimizing profits, which drives up demand in this region will boost the market's growth.
Recent Developments:
- In Sept 2022, Dell Technologies introduced its new Asset Recovery Services, which allow partners to assist their clients in sustainably decommissioning IT equipment. Dell Asset Recovery Services were accessible to enterprises of varying sizes, without any minimum requirements for units, and could be utilized regardless of whether a business had a centralized or remote staff.
Healthcare Asset Recovery Market Report Scope
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Report Attribute |
Specifications |
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Growth Rate CAGR |
CAGR of 8.1% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Asset Type, Organization Size, And Application |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
SpendMend, Revert Inc., Lenovo, Dell, Asset Recovery Services, OnProcess, Midwest Lender Services, PRESIDIO GROUP, Speedy Repo, and Recovery Solutions. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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