They include medical imaging equipment, patient monitors, cardiology equipments, trauma equipment and other vital equipment used in emergency rooms, ambulances and other settings to prevent loss of life.
The global emergency medical equipment market is estimated to be valued at US$ 29.17 Mn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rise in road accidents has been a key driver accelerating the growth of the Global Emergency Medical Equipment Market Size. According to World Health Organization, over 1.3 million people die each year as a result of road traffic crashes. The demand for emergency patient transport equipment such as defibrillators, ECG monitors, oxygen delivery systems and trauma equipment has increased manifolds owing to increasing number of accidents. Rapid technological advancements have enabled integration of patient monitoring devices and digital platforms which has improved emergency response services. In addition, growing health awareness among public about emergency medical care during medical emergencies is also providing impetus to the market growth.
Segment Analysis
The global emergency medical equipment market is dominated by critical care monitors sub segment. Critical care monitors helps caretakers continuously observe and record multiple physiological parameters including heart rate, blood pressure, temperature, respiration rate and others of patients admitted in intensive care units (ICU) and emergency rooms. The growing number of ICU admissions and emergency visits has boosted the demand for critical care monitors. They enable timely diagnosis and response, which is crucial for medical emergencies. The critical care monitors segment holds more than 30% share of the overall emergency medical equipment market.
Key Takeaways
The global emergency medical equipment market is expected to witness high growth over the forecast period. The global emergency medical equipment market is estimated to be valued at US$ 29.17 Mn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024 to 2031.
North America currently holds the leading share of the market. Increased healthcare spending, rising cases of trauma injuries and presence of major players in the region have propelled the demand for emergency medical equipment in North America. However, Asia Pacific region is anticipated to offer lucrative opportunities and emerge as the fastest growing regional market. Rapidly growing economies, rising medical tourism, expanding healthcare infrastructure and growing need to strengthen emergency medical response are some of the factors pushing the demand for emergency medical equipment in Asia Pacific.
Key players operating in the emergency medical equipment market are 3D Systems Corporation, 3M Company, 3Shape A/S, Align Technology, Inc., Bernhard Förster GmbH, Carestream Dental, LLC, and American Orthodontics Corporation, among others. Growing investments by major players for product development, enhanced R&D activities and focus on emerging markets are expected to boost innovations and drive market growth over the forecast period.
Get More Insights On This Topic: https://www.newsstatix.com/emergency-medical-equipment-market-size-share-analysis-2023-2030/
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