The global Emergency Medical Equipment Market is estimated to be valued at US$ 25.32 Bn or Mn 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 Overview:
Emergency medical equipment are essential tools used for providing medical treatment to victims of accidents or people with life threatening medical emergencies. The key products include patient monitors, defibrillators, wheelchairs, Nebulizers and oxygen masks. These ensure efficient healthcare delivery during emergency situations.
Market key trends:
One of the key trends in the emergency medical equipment market is growing adoption of automated external defibrillators. Automated external defibrillators or AEDs are light weight portable devices used to treat victims of sudden cardiac arrest. They have features like step by step audiovisual instructions to guide users during emergencies. With rising cases of cardiovascular diseases worldwide, demand for easy to use AEDs is increasing across various public as well as private places like airports, colleges and corporate offices to enable bystander CPR and defibrillation. Their ease of use and portability is boosting their adoption.
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Market Key trends:
The emergency medical equipment market has been witnessing rising demand for portable and wearable emergency medical equipment. There has been a significant rise in demand for emergency medical devices that can be easily carried and handled during emergencies. Factors such as increasing budgets for healthcare facilities, growing demand for effective emergency care and rising number of trauma cases have been driving the demand for portable emergency medical devices.
SWOT Analysis
Strength: The Emergency Medical Equipment Market Growth is driven by rising incidence of chronic diseases and road accidents globally. This increases the demand for emergency medical equipment for treatment.
Weakness: High costs associated with advanced emergency medical equipment limits their adoption in price sensitive markets.
Opportunity: Growing healthcare infrastructure and budgets in emerging nations presents an opportunity for market expansion for players.
Threats: Presence of local players providing low cost substitutes poses threat to established brands. Reimbursement policies also impact the demand for certain high cost equipment.
Key Takeaways
The global emergency medical equipment market size was valued at US$ 25.32 Bn in 2023. The market is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing number of road accidents globally.
Regional analysis: North America dominated the global emergency medical equipment market in 2023, however Asia Pacific is expected to witness highest growth during the forecast period owing to rising healthcare expenditures and improving access to healthcare in populous nations such as China and India.
Key players: The major players operating in the 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. These established players are focusing on new product launches and partnerships to strengthen their market position.
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