Emergency medical equipment are life-saving devices used for rendering medical aid to patients suffering from life-threatening emergencies such as cardiac arrest or injuries resulting from trauma and accidents till they can be shifted to hospitals. Devices such as defibrillators, ECG monitors, oxygen masks, infusion pumps, and mechanical ventilators help stabilize critical patients and support their vital functions.
The global Emergency Medical Equipment Market is estimated to be valued at US$ 29.17 Mn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising road accidents worldwide is a key trend propelling growth of the emergency medical equipment market. According to the World Health Organization, every year over 1.3 million people die globally as a result of road traffic crashes. Road traffic injuries are the leading cause of death for children and young adults aged 5-29 years. The number of road accidents has increased worldwide due to increasing vehicle ownership and urbanization in developing regions. This has increased the demand for emergency medical equipment from ambulance services and emergency rooms to provide critical care to injured patients. Defibrillators, infusion pumps, oxygen masks and other life-support devices are increasingly being used by paramedics and emergency medical technicians to treat accident victims.
SWOT Analysis
Strength: Global Emergency Medical Equipment Market Size such as stretchers, trauma equipment, and defibrillators provide effective treatment during medical emergencies and thereby save lives. This is the core strength of the market.
Weakness: High costs associated with emergency medical equipment restricts their widespread adoption, especially in developing regions.
Opportunity: Growing incidence of road accidents and trauma injuries coupled with increasing investments in emergency healthcare infrastructure presents lucrative opportunities for market players.
Threats: Presence of local and regional players offering low-cost alternatives poses threats to established brands.
Key Takeaways
The global emergency medical equipment market is expected to witness high growth over the forecast period of 2024 to 2031. The global Emergency Medical Equipment Market is estimated to be valued at US$ 29.17 Mn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024 to 2031.
Regional analysis: North America dominates the emergency medical equipment market currently owing to rapid technological advancements and supportive regulatory environment in the region. The Asia Pacific region is expected to witness the fastest growth due to growing healthcare infrastructure and increasing disposable incomes in developing countries such as India and China.
Key players: Key players operating in the emergency medical equipment market are 3D Systems Corporation, 3M Company, 3Shape A/S, Align Technology, Inc., Bernhard Förster GmbH, Carestream Dental, LLC, and American Orthodontics Corporation, among others. These players are focusing on new product launches and geographical expansion to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it