(PharmaNewsWire.Com, September 19, 2018 ) The Global Emergency Medical Equipment Market, by Product Type (Diagnostic Medical Equipment, Emergency Resuscitation Equipment, Personal Protective Equipment, Patient Handling Equipment, Other Equipment), by Application (Cardiac Care, Cancer Care, Respiratory Care, Trauma, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 17.8 billion in 2017, and is projected to exhibit a CAGR of 6.1% over the forecast period (2018 - 2026), as highlighted in a new report published by Coherent Market Insights.
Government plays a crucial role in the provision of emergency medical services. Therefore, increasing number of government Emergency Medical Service (EMS) programs are considered to be the major factor driving growth of the global emergency medical equipment market. For instance, programs such as Emergency Medical Services for Children, the Office of EMS, and the Division of Injury Response coordinate their efforts for emergency services through regular communications, collaboration, and planning on numerous projects.
Moreover, increased government funding for the management of natural disaster is expected to increase demand for advanced emergency medical services eventually driving the emergency medical equipment market revenue. For instance, in 2017, the U.S. Congress approved a two-year budget that included US$ 130 billion for disaster management. Federal Emergency Management Agency (FEMA) is the primary federal agency for funding assistance after a disaster in the U.S.
Browse 25 Market Data Tables and 27 Figures spread through 165 Pages and in-depth TOC on "Emergency Medical Equipment Market, by Product Type (Diagnostic Medical Equipment, Emergency Resuscitation Equipment, Personal Protective Equipment, Patient Handling Equipment, Other Equipment), by Application (Cardiac Care, Cancer Care, Respiratory Care, Trauma, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026"
Manufacturers in emergency medical equipment market are focused on strategic merger and acquisition in order to strengthen their leadership position in the market. For instance, in June 2018, Royal Philips announced the acquisition of Remote Diagnostic Technologies (RDT), a UK-based leading innovator of advanced solutions for the pre-hospital market providing monitoring, cardiac therapy and data management.
Industry players are also collaborating with government organization to deliver best emergency care services. For instance, in 2017, Tactical Medical Solutions and the American Red Cross entered into a brand licensing partnership for the SOF Tactical Tourniquet Wide to deliver a superior tourniquet on the market.
Key Takeaways of the Emergency Medical Equipment Market:
The global emergency medical equipment market is expected to expand at a CAGR of 6.1% during the forecast period (2018 – 2026), owing to increasing demand for medical emergency and rising government funding for emergency medical services. Among product type, emergency resuscitation equipment segment is expected to hold the major revenue share in 2017, owing to high usage of respiratory devices in emergency care. Among application, the cardiac care segment is expected to grow at highest rate, owing to increasing number of cardiac disorders worldwide. For instance, according to American Heart Association 2015 report, around 84 million people in this U.S. suffer from some form of cardiovascular disease, causing about 2,200 deaths a day. Major players operating in the global 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
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