Emergency medical equipment market

Emergency Medical Equipment Market, by Product Type (Diagnostic Medical Equipment, Emergency Resuscitation Equipment, Personal Protective Equipment, Patient Handling Equipment, Other Equipment), by Application (Cardiac Care, Cancer Care, Respiratory Care, Trauma, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

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Jul 2022
CMI2161
165 Pages
Excel & Pdf
Medical Devices

Summary

Emergency Medical Services (EMS) are an important part of overall healthcare system, as they save lives by providing care immediately. Global emergency medical services have advanced technically and contribute widely to overall function of health care systems. The World Health Organization (WHO) refers to 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 operation theaters. Growing need for emergency medical services due to increasing geriatric population and 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 earthquakes, floods, etc. and increasing incidence of trauma injuries are some other factors propelling demand for emergency medical equipment.

Global emergency medical equipment market is estimated to be valued at US$ 23.82 Billion in 2022 and is expected to exhibit a CAGR of 6.3 % during the forecast period (2022-2030).

Figure 1.Global Emergency Medical Equipment Market Share (%), by Product Type, 2022

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. For instance, on March 19, 2021, WHO stated that each year, 4.4 million individuals worldwide lose their lives to injuries, both deliberate and due to violence, which accounts for roughly 8% of all fatalities. Three of the top five causes of mortality for people aged 5 to 29 are injury-related, including fatal car accidents, homicide, and suicide. An estimated 10% of all years spent with a disability are attributable to trauma injuries. The economic burden of injuries and violence is enormous. It costs nations billions of dollars in medical expenses, lost productivity, and law enforcement every year. The accomplishment of various Sustainable Development Goal (SDG) targets will be made easier by preventing injuries and violent crime.

Emergency Medical Equipment Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2022:	US$ 23.82 Bn
Historical Data for:	2017 to 2020	Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	6.3 %	2030 Value Projection:	US$ 38.91 Bn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Product Type: Diagnostic Medical Equipment, Emergency Resuscitation Equipment, Personal Protective Equipment, Patient Handling Equipment, Other Equipment By Application: Cardiac Care, Cancer Care, Respiratory Care, Trauma, Other Applications
Companies covered:	3M, Abbott, Asahi Kasei Corporation, B. Braun Medical, BD, Cardinal Health, GE Healthcare, Henry Schein, Johnson & Johnson, Philips Healthcare, Smith & Nephew, and Stryker Corporation.
Growth Drivers:	Increasing demand for emergency care and Increasing inorganic growth strategies such as acquisition by key market players are the growth drivers which is expected to drive the growth of global emergency medical equipment market.
Restraints & Challenges:	Product recalls ordered by regulatory bodies such as U.S. FDA is expected to hinder growth of global emergency medical equipment market.

Figure 2.Global Emergency Medical Equipment Share (%), by Region, 2022

Increasing inorganic growth strategies such as acquisition by key market players is expected to drive the global emergency medical equipment market growth during the forecast period.

Increasing inorganic growth strategies such as acquisition by key market players is expected to drive the global emergency medical equipment market growth during the forecast period.

For instance, in June 2020, Safeguard Medicals, a leading healthcare organizations, announced acquisition of PERSYS MEDICAL, an emergency medical provider. The acquisition expands Safeguard Medical's product offering and global footprint.

Global Emergency Medical Equipment Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 has affected the economy in three main ways: by directly affecting production and demand of emergency medical equipment, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, UAE, Egypt, and others, faced problems with regard to the transportation of medical equipment from one place to another.

However, the COVID-19 pandemic had negative impact on the global emergency medical equipment market, owing to shortage of medical equipment during COVID-19 infection. For instance, according to an article published on 19 July 2022 by the U.S. FDA (Food and Drug Administrator), the FDA published a device shortage list to provide transparency to the U.S. public.

Global Emergency Medical Equipment Market: Key Developments

In April, 2020, Stryker, one of the world’s leading medical technology companies, had developed a low-cost, limited-release emergency response bed to quickly aid healthcare providers with efficient care during the COVID-19 pandemic. Stryker’s Emergency Relief Bed is a readily available solution intended to serve those on the front lines – ranging from hospital emergency departments to triage and pop-up areas of care and is low-cost. It has a thick foam surface of six inches having a 30-degree head feature.

Emergency Medical Equipment Market Restraints

Product recalls ordered by regulatory bodies such as U.S. FDA is expected to hinder growth of global emergency medical equipment market. For instance, in December 2019, GE Healthcare recalled Giraffe incubators, Giraafe Omnibeds, Giraffe Incubator Carestation, Giraffe OmniBed Carestation. GE Healthcare recalled the products due to potential for infants to fall.

Key Players

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.

Table of Content

Table of Contents

*Browse 27 market data tables and 31 figures on “Emergency Medical Equipment Market” - Global forecast to 2030

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

What are the growth estimates for emergency medical equipment market till 2030?

Global emergency medical equipment market is estimated to surpass US$ 38.91 Billion by 2030.

Which are the prominent emergency medical equipment market players across the globe?

Major 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.

Which segment based on product type, accounted for the highest demand in the market?

Among product type, Diagnostic Medical Equipment segment is expected to grow at highest rate, owing to increasing number of emergency care.

What are the key factors driving growth of the market?

Growing need for emergency medical services due to increasing geriatric population and rising prevalence of chronic diseases and infectious diseases are some of the major factors that are expected to propel growth of market over the forecast period.

What is the Compound Annual Growth Rate (CAGR) of themarket for next 8 years?

The market is estimated to exhibit a CAGR of 6.3 % over the forecast period.

Which region is dominating the market growth?

Among regions, North America is expected to hold dominant position in the market over the forecast period.