Increase in Medical Emergencies and Physical Injuries to Boost the Emergency Medical Equipment Market Growth

 

Emergency medical equipment is an integral part of the healthcare industry. It includes specialized products and equipment to assist in the provision of emergency care. Emergency medical equipment help in monitoring patients in uncontrolled environments in a pre-hospital setting. Several medical emergencies and physical injuries such as trauma are life-threatening and require quick medical attention. Thus, the increasing incidence of medical emergencies and trauma injuries create significant growth opportunities for the market. In the United States, around 3 million non-fatal injuries occur each year, causing more than 150,000 deaths, according to the American Association for the Surgery of Trauma.

The geriatric population is more prone to various medical emergencies such as respiratory diseases, cardiac arrest, and other medical urgency. According to the World Health Organization, the world's population aged 60 years and older is expected to total 2 billion by 2050, up from 900 million in 2015. Today, 125 million people are aged 80 years or older. Moreover, increasing demand for emergency medical equipment and well-established healthcare facilities are also expected to drive the emergency medical equipment market growth. However, improper functioning (leads to product recall) and the high cost of equipment is expected to restrain the market growth.

Based on type, the market can be classified into patient handling equipment, infection control supplies, wound care consumables, emergency resuscitation equipment, patient monitoring systems, personal protection equipment, and others. Moreover, recent improvements in critical patient care and sudden infectious outbreaks, including COVID-19, will contribute to the tremendous demand for emergency medical equipment. As of December 23, the virus has infected more than 78 million people worldwide, and thus, the demand for emergency medical equipment from COVID-19 affected countries has increased, driving the market growth. Various efforts and initiatives are being taken by organizations and industry leaders to meet the unprecedented need.

Technological advancements coupled with infrastructure development, as well as increasing government funding, is also expected to increase the demand for such equipment. In terms of geography, the emergency medical equipment market is divided into six regions, such as North America, Europe, Asia Pacific, South America, the Middle East, and Africa. Key players active in the market are adopting various strategies (such as product launch, mergers and acquisition, etc.) to strengthen their market presence. For example, in April 2020, Stryker launched emergency relief beds to provide efficient care solutions during the pandemic. Moreover, in June 2018, Royal Phillips acquired Remote Diagnostic Technologies to strengthen its market presence in the resuscitation and emergency care industry.