EMERGENCY MEDICAL EQUIPMENT MARKET ANALYSIS

Emergency Medical Equipment Market Size and Trends

The global emergency medical equipment market is estimated to be valued at USD 26.56 Bn in 2024 and is expected to reach USD 41.48 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.6% from 2024 to 2031.

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The rising incidences of road accidents and trauma injuries, growing aging population, and increasing number of chronic diseases are some of the key factors driving the growth of the emergency medical equipment market. The increasing demand for advanced emergency care and improved emergency facilities worldwide are creating the need for more equipped ambulances and emergency centers. With growing medical infrastructure and availability of insurance coverage for emergencies, the demand for quality emergency equipment is expected to rise substantially in the coming years. However, high costs of emergency care equipment and lack of skilled professionals in some developing nations may restraint the market growth to some extent over the years to come.

Increasing Product Launches by Key Market Players

Market players are involved in launching new drugs, and this is expected to drive the growth of the global emergency medical equipment market over the forecast period. For instance, in March, 2021, HealthTrust Europe, a healthcare company, launched the new safe patient moving and handling equipment framework to support and facilitate the appropriate movement of patients in the hospital, residential, or patient home environments. It is designed to equip health and social care providers with the latest tools to enhance the safety of patient handling.

Market Concentration and Competitive Landscape

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Numerous developing nations across Asia Pacific, Latin America, Middle East, and Africa have shown tremendous efforts in revamping their healthcare infrastructure and emergency medical services over the past decade. Factors such as rising healthcare expenditure, growing public-private investments, and implementation of favorable regulations have accelerated infrastructure development activities in these emerging economies. Availability of well-established emergency care centers, trauma centers as well as upgradation of ambulances are prominent healthcare infrastructure developments undertaken. Governments are also promoting community paramedic programs and pre-hospital emergency services which utilize portable emergency medical equipment. Advanced emergency medical equipment play a pivotal supportive role in the provision of effective pre-hospital and in-hospital emergency care. Life-saving devices like defibrillators, ventilators, and diagnostic imaging systems find extensive usage in emergency departments, ambulances, and critical care units. Their widespread incorporation optimizes emergency response, diagnosis, and clinical management of trauma cases and medical emergencies. Integration of innovative technologies in emergency medical devices also matches with the objectives of modernizing healthcare infrastructure. Continuous procurement of modern equipment ensures delivery of specialized emergency care and treatment.

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Increasing number of product recalls by regulatory authorities such as the U.S. Food and Drug Administration are expected to hinder the market growth over the forecast period. For instance, in September 2022, the U.S. Food and Drug Administration recalled a class I BiPAP machine, a type of ventilator, which is manufactured by Koninklijke Philips N.V., a medical device company. The device was recalled because the machines may contain plastic in their motors that release volatile organic compounds which have the risk for users inhaling dangerous volatile organic compounds and the plastic could also cause device failure.

Market Opportunities – Increasing Government Initiatives

Increasing government initiatives is expected to offer lucrative growth opportunities over the forecast period. For instance, in October 2022, the government of India, announced that it had launched the new Helicopter Emergency Medical Services under project ‘Sanjeevani’ and the service will start at AIIMS, Rishikesh, India, that intends to expand medical outreach and access to trauma care services to a wider population across the country using helicopters.

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The product type segment includes diagnostic medical equipment, emergency resuscitation equipment, personal protective equipment, patient handling equipment, and others. The diagnostic medical equipment sub-segment is estimated to hold 35.1% of the market share in 2024 owing to the rising need for advanced diagnostics across the world. Diagnostic medical equipment includes various devices that help physicians accurately diagnose medical conditions in patients. The increasing prevalence of chronic and lifestyle diseases have boosted the demand for reliable diagnostic tools. Advanced diagnostic technologies allow for early detection of diseases, more accurate diagnoses, and improved clinical outcomes. Furthermore, growing investments by both public and private players into state-of-the-art healthcare systems have enabled wider access to diagnostic facilities. This has significantly enhanced the lifetime management of patients through continuous monitoring. Rising healthcare expenditures coupled with greater health awareness among patients have also driven the uptake of diagnostic tests.

Insights, By Application: Critical Importance of Cancer Care Augments its Dominant Position

The application segment includes cardiac care, cancer care, respiratory care, trauma, and others. The cancer care sub-segment is estimated to hold 34.3% of the market share in 2024 due to the critical importance given to this therapeutic area. Cancer is one of the leading causes of mortality worldwide and its incidence has been increasing rapidly. Early detection and effective treatment of cancer are crucial to enhance survival rates. This has prioritized investments into specialty cancer care equipment and facilities. Growing awareness about cancer symptoms and risk factors has also boosted preventive screenings. Technological advancements are further improving the diagnostics, monitoring, and supportive care associated with cancer. All these factors have firmly established cancer care as a clinical priority, thereby raising its market dominance among application segments.

Insights, By End User: Hospitals Remain the Largest End Users due to Superior Infrastructure and Expertise

The end user segment includes hospitals, ambulatory surgical centers, and others. The hospitals sub-segment is estimated to hold 32.9% of the market share in 2024 owing to their well-established infrastructure and pool of specialized staff. Hospitals are equipped to efficiently handle all types of emergency cases using the latest medical devices and technologies. They have critical care units, trauma centers, and specialty departments to effectively manage complex health conditions. Given their scale and resources, hospitals can easily invest in high-end equipment to provide comprehensive care. There is also a sizable patient footfall in hospitals compared to other medical facilities. The availability of multi-specialty experts under one roof enhances clinical outcomes. These advantages of hospitals have made them the preferred access point, especially for serious illnesses, thereby cementing their top position among end users.

Regional Insights

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North America remains the dominant region in the global medical sensors market and is estimated to hold 38.4% of the market share in 2024 due to strong demand from the well-established healthcare infrastructure and presence of major industry players in the region. The presence of large healthcare providers, private emergency medical services, and firefighting departments has supported the demand for various emergency medical equipment such as defibrillators, ECG devices, wheelchairs, stretchers, and ambulance services. Additionally, factors such as increasing government spending on healthcare and rising awareness about emergency medical services have contributed to the North America region continuing its leadership position. However, the region faces challenges of an aging population and rising healthcare costs which are prompting healthcare reforms.

The Asia Pacific region has emerged as the fastest growing market for emergency medical equipment in recent times riding on improving access to healthcare facilities and rising healthcare expenditures. Countries such as China, India, Indonesia, and Vietnam are witnessing rapid economic development which has boosted investments in modernization and expansion of their healthcare infrastructure including setting up emergency response systems and dedicated ambulance services. This has opened lucrative business opportunities for established multinational emergency medical equipment manufacturers as well as local players. Additionally, Asia Pacific nations have also been increasingly importing premium grade medical devices to fulfill the demand of tier-1 hospitals and trauma centers. The cost competitiveness of the region coupled with rapidly growing middle-class population is further attracting global companies to establish manufacturing bases to cater to domestic as well as international markets. While medical regulations and pricing policies still vary across APAC countries, overall demand conditions have remained very conducive.

Market Report Scope

Emergency Medical Equipment Industry News

• In December 2023, the National Board of Examinations in Medical Studies (NBEMS), an autonomous body under the Ministry of Health and Family Welfare, announced the launch of a nationwide awareness programme on cardiopulmonary resuscitation (CPR) training. The announcement by the Health Ministry comes following a recent rise in the number of cases of heart attacks across the country with the latest data from the National Crime Records Bureau (NCRB) stating that deaths due to cardiac arrests saw a 12.5% rise, from 28,413 in 2021 to 32,457 in 2022.
• In October 2023, Stryker, a medical device company, announced that it had introduced Prime Connect, the first smart, connected hospital stretcher designed to support fall prevention protocols from anywhere in a facility, at the Emergency Nursing 2023 event in San Diego, California, U.S. on September 22, 2023.
• In May 2022, Max Ventilator, a medical device company, announced the launch of multifunctional non-invasive (NIV) ventilators which come with inbuilt oxygen therapy and humidifier. It can be used for neonatal care as well as adult care.
• In June 2020, Safeguard Medicals, a leading healthcare organization, announced acquisition of PERSYS MEDICAL, an emergency medical provider. The acquisition expanded Safeguard Medicals’ product offering and global footprint.

*Definition: Emergency medical services, more commonly known as EMS, is a system that responds to emergencies in need of highly skilled pre-hospital clinicians. The World Health Organization (WHO) refers to EMS systems as an integral part of any effective and functional health care system. Emergency medical equipment facilitates patient care during medical emergencies such as accidents and natural calamities, helps prevent loss of life, and minimizes personal injuries. This equipment vary from basic stretchers to complex equipment used in intensive care units and operation theaters.

Market Segmentation

•  Product Type Insights (Revenue, USD Bn, 2019 - 2031)
  • Diagnostic Medical Equipment
  • Emergency Resuscitation Equipment
  • Personal Protective Equipment
  • Patient Handling Equipment
  • Others
•  Application Insights (Revenue, USD Bn, 2019 - 2031)
  • Cardiac Care
  • Cancer Care
  • Respiratory Care
  • Trauma
  • Others
•  End User Insights (Revenue, USD Bn, 2019 - 2031)
  • Hospitals
  • Ambulatory Surgical Centers
  • Others
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • 3M
  • Abbott
  • Asahi Kasei Corporation
  • B. Braun SE
  • Cardinal Health
  • GE Healthcare
  • Henry Schein, Inc.
  • Stryker
  • BD
  • Smith & Nephew
  • Koninklijke Philips N.V.
  • ConvaTec Inc.
  • Terumo Corporation
  • Boston Scientific Corporation
  • Merit Medical Systems
  • Medtronic
  • GE Healthcare
  • Baxter