Emergency Medical Equipment Market – Insights
Emergency Medical Services (EMS) is an important part of overall healthcare system, as it saves lives by providing care immediately. Global emergency medical services has advanced technically and contributes widely to overall function of health care systems. The World Health Organization (WHO) refers EMS systems as an integral part of any effective and functional health care system.
Emergency medical equipment facilitates patient care during medical emergencies such as accidents and natural calamities, helps prevent loss of life, and minimizes personal injuries. These equipment vary from basic stretchers to complex equipment used in intensive care units and theatres.
Growing need for emergency medical services due to increasing geriatric population, rising prevalence of chronic diseases such as cardiovascular disorders, diabetes, and infectious diseases are expected to drive the global emergency medical equipment market growth during the forecast period. Moreover, rising incidence of natural disasters such as earthquake, floods, etc. and increasing incidence of trauma injuries are some other factors propelling demand for emergency medical equipment.
The global emergency medical equipment market size was valued at US$ 17.8 billion in 2017, and is expected to witness a CAGR of 6.1% over the forecast period (2018 – 2026).
Global Emergency Medical Equipment Market Share (%) Analysis, By Product Type 2017
Source: Coherent Market Insights Analysis (2018)
Increasing demand for emergency care is expected to drive the emergency medical equipment market growth
Increasing medical emergency cases due to rise in health problems such as heart attacks, breathing disorders, coupled with other elderly associated emergencies, and rising incidences of trauma injuries are the major factors driving the global emergency medical equipment market growth. Trauma injury is the leading cause of mortality and hospitalization worldwide.
Patients with multiple injuries are prevalent across the globe, increasing the complexity of trauma care and treatment, thereby demanding advanced emergency medical services. According to a NCBI report of 2017, demand for prehospital emergency services has increased intensely over the past 20 years. In England, emergency services demand has increased by 125%, from around 4 million calls in 1994 and 1995 to 9 million ambulance calls in 2014 and 2015. Similarly, in the U.S. Emergency Medical Services (EMS) transports have increased from 16,000,000 in 2006 to 28,004,624 in 2009.
Furthermore, seasonal influences such as heat waves, natural disasters, and disease outbreaks have major impact on emergency care demand. Availability of well-equipped emergency services and ambulances to move the patients can avoid causing more injury such as spinal cord injury, cardiac arrest or even death. According to the a report released by the Centre for Research on the Epidemiology of Disasters (CRED), in 2016, the total number of people affected by natural disaster was 569.4 million worldwide.
Emergency Medical Equipment Market Restraints
High prices of emergency medical equipment and drugs and lack of proper emergency services in low-income economies can confine the emergency equipment market growth during the forecast period. For instance, according to the UNICEF 2009 report, more than 500,000 maternal deaths occur annually; 95% of these deaths are reported in low-income economies where emergency care is often lacking.
According to WHO 2017 report, malaria causes 300 to 500 million acute episodes worldwide annually and results in around 1 million deaths, mostly in Sub-Saharan Africa. Effective emergency care can avoid these deaths, as well as those from acute respiratory and diarrheal diseases in children and from non-communicable diseases such as hypertension, diabetes, and cardiovascular disorders.
Emergency Medical Equipment Market - Regional Insights
On the basis of region, the global emergency medical equipment market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold dominant position in the global emergency medical equipment market, owing to increasing government support and funding for emergency medical services.
Many different federal agencies are contributing through funding, programs, products, and technical assistance to local and state EMS systems. These agencies include the Federal Communications Commission (FCC), the Department of Health and Human Services (HHS), the Department of Transportation (DOT), and the Department of Homeland Security (DHS).
Moreover, trauma is a leading cause of death and disability in the U.S. According to the Centers for Disease Control and Prevention (CDC) 2014 report, for children and adults younger than age 45, trauma accounts for around 79,000 deaths annually, in comparison to 15,000 infectious disease and 49,000 non-communicable disease deaths.
Europe is expected to be the second largest contributor to the emergency medical equipment market, in terms of revenue, owing to increasing demand for emergency medical services. According to NCBI report of 2013, demand for urgent care center services in the U.K. has increased by 46% between 2006 and 2013.
Global Emergency Medical Equipment Market Value (US$ Mn) & Y-o-Y Growth (%)
Source: Coherent Market Insights Analysis (2018)
Emergency Medical Equipment Market - Competitive Landscape
Key players operating in the global emergency medical equipment market include 3M, Abbott, Asahi Kasei Corporation, B. Braun Medical, BD, Cardinal Health, GE Healthcare, Henry Schein, Johnson & Johnson, Philips Healthcare, Smith & Nephew, and Stryker Corporation.
Manufacturers are focused on development of new advanced product in order to cater the ever-growing needs of emergency medical equipment. For instance, in 2015, Royal Philips launched Lumify, a smart device ultrasound solution, in the U.S. It is the new ultrasound digital health approach that connects off-the-shelf compatible smart devices, advanced ultrasound transducer technology, a mobile application, integrated IT and support services to help healthcare providers improve patient care, and reduce healthcare cost.
Emergency Medical Services (EMS) require specialized equipment to aid in the provision of emergency care. The rapid development of medical technology has transformed the international EMS systems with introduction of multifunctional compact monitoring systems. These equipment are making the task of monitoring patients manageable in an uncontrolled environment of pre-hospital settings.
Increasing geriatric population prone to various medical emergencies such as cardiac arrest, respiratory disorders, and other medical urgency and rising incidences of natural calamities require advanced emergency medical care. According to American Heart Association 2016 report, cardiovascular disease is the leading cause of death worldwide, accounting for around 17.3 million deaths annually and is expected to reach over 23.6 million by 2030.
According to GRID-Arendal, an official United Nations Environment Programme (UNEP) 2018, with the growing population and infrastructures, the world’s exposure to natural hazards is increasing inevitably. Therefore, all these factors are collectively rising the demand for emergency medical services eventually driving the emergency medical equipment market revenue.
Despite the increasing demand, the emergency medical services varies drastically from developed to developing countries. Low and middle-income countries lack comprehensive EMS that can be accessed throughout the country which can be a restraining factor for emergency medical equipment market growth. However, some of these countries are involving international industry players to explore untapped opportunities in emerging economies.
For instance, according to the Journal of Emergency Medical Services, in 2019, India will host the Asian Conference on Emergency Medicine, which is expected to be attended by major industry players, and India is a good entry point for the entire subcontinent.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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