Emergency medical equipment are medical devices that help physicians and medical professionals provide emergency medical aid and treatment to patients suffering from life-threatening illnesses or injuries. Some key emergency medical equipment includes emergency stretchers, patient monitors, defibrillators, oxygen masks and cannulas, blood pressure cuffs, intraosseous infusion devices, trauma dressing kits, splints, and more. These products help medical professionals assess patients, diagnose medical conditions, and provide life-saving treatment faster and more efficiently. The global emergency medical equipment demand is rising due to increasing incidence of road accidents, geriatric population, and trauma cases.
The global Emergency Medical Equipment Market is estimated to be valued at US$ 25.32 billion in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The emergency medical equipment market size is witnessing notable growth on account of rising incidence of trauma cases globally. According to a study published by the World Health Organization (WHO), around 1.35 million people die each year 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. Moreover, trauma injuries account for over 10% of the global burden of disease. Growing incidence of trauma due to road accidents, violence, natural disasters and sports-related injuries is expected to fuel the demand for emergency medical equipment such as emergency stretchers, trauma dressing kits, patient monitors, and more during medical evacuations and in emergency rooms. Introduction of technologically advanced products integrated with IoT and AI is further expected to drive the emergency medical equipment market during the forecast period.
SWOT Analysis
Strength: Emergency medical equipment provides efficient emergency treatment to victims of accidents and medical emergencies. It offers essential tools to save lives.
Weakness: High cost of advanced emergency medical equipment limits their adoption in regions with low healthcare budgets. Equipment requires regular maintenance and upgrades to ensure optimal performance.
Opportunity: Growing aging population and rising incidence of chronic diseases in developing nations are increasing demand for emergency healthcare infrastructure and equipment. Telemedicine offers potential to expand access to emergency care in remote regions.
Threats: Economic slowdowns can negatively impact healthcare spending and pose challenges for equipment providers. Stringent regulatory approvals and reimbursement policies delay market entry of new players.
Key Takeaways
The global emergency medical equipment market is expected to witness high growth over the forecast period of 2023 to 2030. Technological advancements are driving innovations in emergency medical devices to improve patient outcomes.
Regional analysis shows that North America currently dominates the market owing to robust healthcare infrastructure and presence of leading equipment manufacturers in the US and Canada. However, Asia Pacific is emerging as the fastest growing regional market driven by rising healthcare spending, healthcare reforms and growing incidence of chronic diseases in highly populated countries like China and India.
Key players operating in the emergency medical equipment market are 3M, Abbott, Asahi Kasei Corporation, B. Braun Medical, BD, Cardinal Health, GE Healthcare, Henry Schein, Johnson & Johnson, Philips Healthcare, Smith & Nephew, and Stryker Corporation. The market is witnessing new product launches and partnerships between device manufacturers and healthcare providers to strengthen emergency care delivery worldwide.
