Emergency Medical Service Product Market by Type (Patient Monitoring Equipment, Patient Handling Equipment, Wound Care Products, Infection Control Consumables, Personal Protection Equipment & Life Support, and Emergency Resuscitation Equipment), by Application (Cardiac Care, Trauma Injuries, Respiratory Care, Oncology, and Others), and by End-User (Hospitals & Trauma Centers, Ambulatory Surgical Centers, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2024

Global emergency medical service product market expected to reach around USD 31.54 billion by 2024, growing at a CAGR of 6.77 % between 2018 and 2024. The emergency medical service is an important part of the healthcare system, especially for people who suffer sudden and unexpected emergencies.

26-Nov-2018 | Number of pages: 110 | Report Code: ZMR-3551 | Report Format : | Status : Published

Analysis

Emergency medical care is medical service provided by pre-hospital care providers, such as first responders, medical technicians, and paramedics. It includes instant medical services to prevent death or disability caused due to critical health problems, injuries, and accident, irrespective of patients’ age, gender, location, or condition. Many high- and middle-income countries offer emergency medical care providing advanced care to trauma victims at the scene. Emergency medical care service providers have been saving the lives of millions of people around the world.

Nowadays, emergency medical care can be easily obtained due to developed communication facilities. People can easily receive the emergency medical care service just by a call or text from a cell phone. The global emergency medical care product market is likely to witness a robust growth in the near future. The market is showing rapid growth owing to a relative increase in the rate of road accidents, physical traumas, injuries, rising prevalence of chronic heart diseases. Furthermore, growing medical infrastructure in developing countries, easy access to emergency medical services along with huge investments made in the healthcare sector followed by upright initiatives taken by government bodies in terms of emergency medical services are driving this market. However, the high costs of emergency medical equipment and the dearth of trained medical professionals are restraining this market’s growth.

/Emergency-Medical-Service-Product-Market

By type, this market is segmented into patient handling equipment, personal protection equipment, wound care products, patient monitoring equipment, infection control consumables, and life support and emergency resuscitation equipment. The life support and emergency resuscitation equipment segment are likely to account for the largest share of the emergency medical service product market. The patient monitoring equipment segment was the fastest growing segment and is likely to witness a substantial increase in revenue, owing to large-scale adoption in medical facilities.

By application, the emergency medical service product market is divided into trauma injuries cardiac care, oncology, respiratory care, and others. The cardiac care is projected to account for the largest share and grow at the highest CAGR in the forecast time period. Increasing prevalence of cardiac arrest due to cardiovascular diseases and a growing number of physical traumas are likely to benefit the emergency medical service product market in the upcoming years. This, in turn, is projected to positively impact the emergency medical service product market in the near future. However, the high cost of emergency medical service equipment might hinder this market’s growth. Increasing number of hospitals along with growing government investments made for healthcare infrastructure and medical services are expected to present lucrative opportunities in the forecast time period.

The end-user segment includes hospitals and trauma centers, ambulatory surgical centers, and others. The hospitals and trauma centers segment dominated the market and accounted for the largest share in 2017, owing to high rates of hospital admission due to the growing incidences of heart disorders and traumatic injuries.

By region, the global emergency medical service product market is segmented into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. North America dominated the emergency medical service product market, accounting for the maximum revenue market share, in 2017. In terms of revenue generation, Europe was the second largest market followed by the Asia Pacific. The Asia Pacific emergency medical service product market grew rapidly in 2017. Developing economies, such as India and China, are accelerating the expansion of this region, owing to growing healthcare infrastructure and increasing corporate investments made in the healthcare sector. The Middle East and Africa and Latin America are likely to witness moderate growth in the emergency medical service product market in the years to come.

Some key players operating in the global emergency medical service product market include Stryker, Medtronic, Asahi Kasei, Cardinal Health, Philips, GE Healthcare, Smith & Nephew, 3M, Smiths Medical, Becton, Dickinson and Company, Johnson & Johnson, B. Braun, and C. R. Bard.

 


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