Market Size – The emergency medical services products market size has grown strongly in recent years. It will grow from $24.24 billion in 2023 to $26.47 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to regulatory changes, urbanization, natural disasters, man-made emergencies, rising healthcare expenditure, and population growth.
The emergency medical services products market size is expected to see strong growth in the next few years. It will grow to $37.87 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to an aging population, rising incidence of chronic diseases, technological advancements, government initiatives and funding, and growing awareness and training programs. Major trends in the forecast period include increased adoption of telemedicine, advancements in portable diagnostic equipment, growth in wearable health technology, and enhanced training and simulation programs.
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Scope Of Emergency Medical Services Products MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Emergency Medical Services Products Market Overview
Market Drivers –The increase in the number of road accidents is expected to propel the growth of the emergency medical services products market going forward. A road accident is an unplanned event that occurs on a road or highway and involves one or more vehicles, pedestrians, or cyclists, resulting in damage, injury, or death. Road accidents are rising due to increased vehicle usage, distracted driving, and poor road infrastructure. Emergency medical services products are crucial in road accidents, facilitating rapid response, trauma care, and transportation of injured individuals, ultimately saving lives and minimizing long-term health complications. For instance, in May 2022, according to the National Highway Traffic Safety Administration, a US-based government agency, an estimated 42,915 people died in motor vehicle traffic crashes last year in the US, marking a 10.5% rise from the 38,824 fatalities in 2020. Therefore, the increase in the number of road accidents is driving the growth of the emergency medical services products market.
Market Trends – Major companies operating in the emergency medical services products market are focusing on developing innovative technologies, such as a generative artificial intelligence (AI)-enabled emergency solution, to maximize their revenues in the market. A generative artificial intelligence (AI)-enabled emergency solution refers to a sophisticated technological system that leverages AI algorithms to dynamically generate responses and actions tailored to emergency situations. For instance, in December 2022, Augmedix Inc., a US-based medical documentation company, launched Augmedix Go, a fully automated medical documentation product for emergency departments (EDs) that leverages generative AI technology. This innovative product aims to streamline workflows and enhance patient care in EDs by automating the drafting of patient notes in real time.
The emergency medical services products market covered in this report is segmented –
1) By Type: Life Support And Emergency Resuscitation Equipment, Patient Monitoring Systems, Wound Care Consumables, Patient Handling Equipment, Infection Control Supplies, Personal Protection Equipment
2) By Application: Cardiac Care, Trauma Injuries, Respiratory Care, Oncology, Other Applications
3) By End User: Hospital, Trauma Centers, Ambulatory Surgical Centers, Others End Users
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Regional Insights – North America was the largest region in the emergency medical services products market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the emergency medical services products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies – Major companies operating in the emergency medical services products market are Cardinal Health Inc., Honeywell International Inc. , 3M Company, Medtronic plc, Medline Industries Inc., Philips Healthcare, Stryker Corporation, GE HealthCare Technologies Inc., Henry Schein Inc., Mindray Medical International Limited, B. Braun Melsungen AG, Draeger Medical, Getinge AB, Teleflex Incorporated, Masimo Corporation, R1 RCM Inc., Halyard Health, Ambu A/S, Zoll Medical Corporation, Physio-Control, Vyaire Medical, Bound Tree Medical, Nonin Medical Inc., Schiller AG, Ferno-Washington Inc., Emergency Medical Products Inc., Hartwell Medical Corporation
Table of Contents 1. Executive Summary2. Emergency Medical Services Products Market Report Structure3. Emergency Medical Services Products Market Trends And Strategies4. Emergency Medical Services Products Market – Macro Economic Scenario5. Emergency Medical Services Products Market Size And Growth…..27. Emergency Medical Services Products Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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