South Korea Refurbished Medical Devices Market Size, Share, and COVID-19 Impact Analysis, By Diagnostic Devices (X-ray machines, CT Scanners, Ultrasound Systems, MRI Machines, ECG Systems, and Patient Monitors), By Therapeutic Devices (Heart-Lung Machines, Coagulation Analyzers, Infant Incubators and Warmers, Defibrillators, and Infusion Pumps), and South Korea Refurbished Medical Devices Market Insights, Industry Trend, Forecasts to 2035

South Korea Refurbished Medical Devices Market Size Insights Forecasts to 2035

• The South Korea Refurbished Medical Devices Market Size was estimated at USD 245.6 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 7.68% from 2025 to 2035
• The South Korea Refurbished Medical Devices Market Size is Expected to Reach USD 554.2 Million by 2035

According to a Research Report Published by Spherical Insights & Consulting, the South Korea Refurbished Medical Devices Market Size is anticipated to reach USD 554.2 million by 2035, growing at a CAGR of 7.68% from 2025 to 2035. The market for reconditioned medical equipment is expanding in South Korea due to the growing need for affordable healthcare options, particularly as the country's population ages and the prevalence of chronic illnesses rises. Furthermore, improvements in government regulations and technology have improved the quality and acceptability of refurbished equipment in clinics and hospitals.

Market Overview

The South Korea Refurbished Medical Devices Market refers to the industry devoted to the refurbishment, certification, and resale or redistributing of used medical equipment in South Korea is known as the South Korea refurbished medical devices market. Additionally, opportunities in this sector that could increase access to high-quality reconditioned devices are presented by increased partnerships between manufacturers and healthcare providers. These collaborations ought to raise the standard of care given in hospitals and clinics, especially in rural areas where there are more severe financial constraints. Further, the South Korean government's initiative to enhance healthcare systems further promotes sustainability and waste reduction in the sector, demonstrating a regulatory environment that is conducive to renovation. Moreover, the demand for affordable healthcare solutions is rising significantly, according to the South Korean market for refurbished medical devices. The growing financial pressure on healthcare providers to manage budgets while upholding high standards of care is what is driving this trend.

Report Coverage

This research report categorizes the market for the South Korea refurbished medical devices market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea refurbished medical devices market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea refurbished medical devices market.

Driving Factors

The South Korean market for refurbished medical devices has been significantly influenced by the quick speed at which technology is developing in the medical field. The lifespan and usability of previously used medical devices can be extended through efficient upgrades made possible by improved manufacturing processes and enhanced digital capabilities. Further, about 25% of medical devices are being refurbished, according to the Korea Medical Devices Industry Association, in order to satisfy the strict requirements needed for certification in South Korea. Moreover, the nation's strong commitment to technological innovation, especially in the medical sector, where it is anticipated that 40% of medical devices could be refurbished and reintroduced into the market by 2025, supports this. Investing in these technologies is probably going to increase the market's potential for growth.

Restraining Factors

Some of the main obstacles to widespread adoption and slow market penetration in South Korea's healthcare facilities are regulatory barriers, low consumer trust, a lack of standard refurbishment procedures, worries about device dependability, and limited insurance coverage.

Market Segmentation

The South Korea refurbished medical devices market share is classified into diagnostic devices and therapeutic devices.

• The ultrasound systems segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea refurbished medical devices market is segmented by diagnostic devices into X-ray machines, CT scanners, ultrasound systems, MRI machines, ECG systems, and patient monitors. Among these, the ultrasound systems segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. since they provide real-time imaging that improves clinical decision-making, especially in the area of maternal and fetal health, ultrasound systems stand out as crucial tools in obstetrics and cardiology.

• The infusion pumps segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea refurbished medical devices market is segmented by therapeutic devices into heart-lung machines, coagulation analyzers, infant incubators and warmers, defibrillators, and infusion pumps. Among these, the infusion pumps segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. Specific medication delivery is crucial for both patient safety and successful treatment, and infusion pumps help achieve this. This market is distinguished by its emphasis on innovation and adherence to regulations, which is consistent with South Korea's resolve to raise healthcare standards.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea refurbished medical devices market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• KPI Healthcare Korea
• SELVAS Healthcare
• BEMEMS Co., LTD.
• Ace Medical Co., Ltd.
• Healcerion Co., Ltd.
• Others

Recent Developments:

• In April 2025, the Ministry of Health and Welfare (MOHW) declared that it had initiated a legislative notice period for a partial revision to the Enforcement Rules on the Evaluation of New Medical Technologies, which would run through June 9. The new "Immediate Market Entry Medical Technology" system's criteria and procedures were described in the modification.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea Refurbished Medical Devices Market based on the below-mentioned segments:

South Korea Refurbished Medical Devices Market, By Diagnostic Devices

• X-ray machines
• CT Scanners
• Ultrasound Systems
• MRI Machines
• ECG Systems
• Patient Monitors

South Korea Refurbished Medical Devices Market, By Therapeutic Devices

• Heart-Lung Machines
• Coagulation Analyzers
• Infant Incubators and Warmers
• Defibrillators
• Infusion Pumps