12 March 2021
Visiongain has published a new report on Ambulance and Emergency Equipment Market Report to 2031: Forecasts by Type (Transportation Equipment, Burn Care Equipment, Diagnostic and Infection Control Equipment, Blood and Hemorrhage Control Equipment, and Burn Care Equipment), by Transportation Mode (Air Ambulance, Water Ambulance, and Ground Ambulance) PLUS COVID-19 Recovery Scenarios.
Global Ambulance and Emergency Equipment market size is projected to reach US$ XX Million in 2021 and is expected to display strong revenue growth through to 2031.
COVID-19 Impact on Ambulance and Emergency Equipment Market
The COVID-19 pandemic has deleteriously affected all the countries and industries. Similarly, the ambulance and emergency equipment market is anticipated to take a hit. The target industry is now facing challenges to manage the interrupted demand and supply of components. Also, unpredictable and disturbing supply chain activities and the unavailability of human resources are anticipated to impact the target industry growth. Hence, the overall COVID-19 impact is expected to continue to moderate for the global key players operating in the industry.
Rising Prevalence of Chronic Diseases Requires Emergency Medical Response
Rising incidence and prevalence of cardiovascular diseases, osteoarthritis disorder, and multiple cancer require emergency medical response support to save lives are expected to be major driving factors for the growth of the ambulance and emergency equipment market during the forecast period. According to Cancer Australia estimates, around 1,405 new cases of brain cancer are expected in 2017. Furthermore, as per the World Health Organization (WHO), the common reason for death is cardiovascular diseases (CVD) across the world. Also, as per the Centers for Disease Control and Prevention (CDC), nearly 1.70 million people die from a chronic disease every year in the USA. Although chronic diseases are the major reason for death for men and women alike because women face unique health issues. Around 37% of women suffer from chronic diseases, compared to 30% of men. Moreover, according to the World Health Organization (WHO) estimates, by 2050, around 130 million people are expected to suffer from osteoarthritis worldwide. Thereby, the rising high prevalence of cardiovascular diseases and other chronic disorders demands proper treatment management to maximize patient outcomes. In turn, it is projected to attain substantial growth for the ambulance and emergency equipment market in the given time frame.
Medical Services Provided in Remote Locations will Support to Expand Market Size
The technology used in the air ambulance for medical emergency services has observed significant improvement in the last few years in terms of medical devices such as heart monitors, HER systems, defibrillators, communication equipment, for delivering a patient’s real-time medical assistance, and given health data to the staff at the hospital. This is the key factor boosting the demand for ambulance and emergency equipment in the respective region. Moreover, the advantages of the air ambulance service include, less traveling time and chances of saving lives are greater thus, promoting the market in long run. This along with the fact that air ambulances can offer medical aid even in remote locations is creating lucrative opportunities for the ambulance and emergency equipment market growth in the given time frame.
Rapidly Increasing Health Care Expenditure
Rising health expenditure per capita is accredited towards factors such as improving economic conditions in developing countries, greater access to competent emergency treatment. For instance, healthcare spending has increased drastically in the U.S. in the past few decades. As per the Journal of the American Medical Association (JAMA), healthcare expenditure in the U.S. upsurge near a trillion dollars between 1996 and 2015. The association told that healthcare expenditure in the U.S. during 2017 was around $3.5 trillion, i. e, $11,000 per person. These expenditures are projected to be $6 trillion—approximately $17,000 per person by 2027.
Key players operating in the global Ambulance and Emergency Equipment market are 3M, BLS Systems, Ltd., Medtronic Plc, GE Healthcare, Stryker Corporation, Allied healthcare products, Inc., Dragerwerk AG & Co. KGaA., Ambu A/S, Emergency Medical International, First Care Products, Ltd., and Emergency Medical Products, Inc.
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