Market Overview
The
Global Emergency Medical Equipment Market is expected to reach a value of
USD 26.7 billion in 2023, and it is further anticipated to reach a market value of
USD 47.2 billion by 2032 at a
CAGR of 6.5%.
Emergency
medical equipment is critical within healthcare systems, including specialized tools to facilitate prompt emergency care. It plays a vital role in addressing life-threatening situations like severe physical injuries & medical emergencies like cardiac arrest. These supplies, like
diagnostic kits, ventilators, dressings, bandages, personal protective equipment, & thermometers, are indispensable for managing urgent scenarios like sudden injuries, respiratory & cardiac disorders, obstetric complications, and infections, among others.
Key Takeaways
- By Application, Respiratory Care leads in 2023 & is anticipated to dominate throughout the forecasted period.
- In addition, Cardiac Care is expected to have significant growth over the forecasted period.
- By Product, Diagnostic Medical Equipment takes the lead & drives the market in 2023.
- Further, By End User, Hospital & Trauma Centers accounts for major revenue share in 2023
- North America has a 36.3% share of revenue in the Global Emergency Medical Equipment Market in 2023
Market Dynamic
The worldwide exposure to natural hazards is on the rise due to the growing population & infrastructure. Further, development in medical devices & hospital infrastructure development contributes to the growth of the Emergency Medical Equipment Market. Also, government funding to fight chronic & infectious diseases, along with a skilled workforce, further supports this growing trend.
However, certain challenges hinder overall market growth like the high cost of emergency equipment, lack of standardized protocols, & occasional product recalls due to malfunctions pose limitations. In addition, a shortage of skilled professionals & the absence of comprehensive Emergency Medical Services (EMS) in low & middle-income countries act as potential restraints, impeding the global Emergency Medical Equipment Market's overall growth during the forecast period.
Driver
Rising Environmental Awareness
Concern over plastic pollution has increased demand for eco-friendly straws. Consumers and businesses are turning toward eco-friendly alternatives due to environmental effects of single-use plastics that harm our ecosystems. Governments worldwide are adopting stringent regulations and bans on plastic straws, compelling food service providers to transition away from plastic in favor of more eco-friendly options such as paper, bamboo or stainless steel straws.
Eco-conscious consumers are willing to pay a premium for products made with environmentally-friendly materials, driving market growth. Furthermore, the global push toward reducing ocean waste and creating circular economies further accelerates adoption of eco-friendly straws as an essential element of sustainable living.
Trend
Innovation of Eco-Friendly Materials
One key trend in the eco-friendly straws market is innovation in sustainable materials. Manufacturers are using biodegradable and renewable resources such as rice, seaweed and cornstarch to craft long-lasting yet attractive straws. Demand for reusable straws constructed of glass, silicone or metal has increased considerably among urban consumers, particularly thanks to advances in coating technologies that make paper straws more durable and resistant to sogginess.
These innovations address concerns over usability while meeting sustainability goals. Customization options like branding and unique designs further boost their appeal for varied consumer preferences.
Restraint
Higher Costs and Limited Availability
Higher Production Costs and Limited Availability Eco-friendly straws have higher production costs compared to plastic alternatives, which poses an undue barrier. Bamboo and stainless steel materials tend to be more costly, which could prevent price-sensitive consumers and small businesses from adopting them. Furthermore, limited availability and supply chain issues impede market expansion in developing regions.
Due to their specific disposal conditions - such as industrial composting - biodegradable options may not be widely adopted by consumers and businesses in markets with reduced environmental awareness or infrastructure for waste management. As such, affordability and convenience may overshadow sustainability for wider adoption.
Opportunity
Growing Hospitality Industry and Green Initiatives
Opportunity in Hospitality Industry and Green Initiatives With an expanding hospitality and food service industries present significant opportunities for eco-friendly straws manufacturers in terms of market growth. Restaurants, cafes, and hotels have increasingly adopted sustainable practices to attract eco-minded customers while complying with environmental regulations. Partnerships with environmental organizations and government-supported green initiatives contribute further to market expansion.
Ecotourism and sustainable events have driven demand for eco-friendly straws. Emerging markets in Asia-Pacific and Latin America present significant untapped potential, as awareness of plastic pollution grows. Companies investing in localized production using innovative materials while also meeting global sustainability goals can capitalize on this demand while meeting sustainability goals simultaneously.
Research Scope and Analysis
By Product
The market based on its products is segmented into emergency resuscitation equipment, diagnostic medical equipment, personal protective equipment, patient handling equipment, and others. Among these, diagnostic medical equipment is expected to have significant growth during the forecast period & currently holds the largest market share in 2023, which is due to the increasing development of blood glucose monitors, ECG devices, & respiratory devices personalized to monitor critical signs in patients suffering with diverse chronic & infectious diseases.
Moreover, with a significant aging population susceptible to frequent health parameter fluctuations, there is a growth in demand for diagnostic medical equipment, which also shows a rising need for advanced
healthcare solutions that cater to the specific monitoring requirements of individuals, thereby driving the overall market demand for diagnostic medical equipment.
By Application
In terms of application, the market is segmented into respiratory care, cardiac care,
oncology, trauma injuries, and others. In 2023, the respiratory care segment commands the largest market share, a trend anticipated to persist throughout the forecast period, which is linked to the growing occurrence of chronic respiratory disorders, like
asthma, lung cancer, pneumonia, & viral infections creating sudden health crises. Further, asthma, a prevalent respiratory ailment affecting a high number of children across the world, contributes significantly to this segment's growth.
Further, the increasing number of individuals suffering from respiratory conditions highlights the major growth potential for the respiratory care segment in the forecasted years. Also, the market's focus on addressing the specific needs of respiratory emergencies aligns with the rising global burden of respiratory disorders, making this segment an essential driver of overall market expansion.
By End User
Based on end-users, the market sub segmented into hospitals & trauma centers, ambulatory
surgical centers, and others. The hospitals & trauma segment emerges as the primary contributor, holding a major share in the emergency medical equipment market, which can be attributed to the important role that hospitals play in emergency care, providing a vast range of medical services & advanced facilities for trauma and critical care.
Further, a significant contribution of hospitals is highlighted by their higher infrastructure, specialized medical personnel, & the ability to handle an array of emergency medical situations, which aligns with the comprehensive & critical nature of emergency medical services provided in these settings, solidifying their central position in driving the demand and utilization of emergency medical equipment.
The Emergency Medical Equipment Market Report is segmented on the basis of the following:
By Product
- Diagnostic Medical Equipment
- Emergency Resuscitation Equipment
- Patient Handling Equipment
- Personal Protective Equipment
- Others
By Application
- Cardiac Care
- Trauma Injuries
- Respiratory Care
- Oncology
- Others
By End User
- Hospitals and Trauma Centers
- Ambulatory Surgical Centers (ASCs)
- Others
Regional Analysis
Within the global emergency medical equipment sector, North America has historically been the leading region and is expected to maintain its dominance during forecasted years, while commanding a majority share of
36.3% in 2023. The US, in particular, experienced a high prevalence of trauma-related injuries & conducts various reconstructive surgeries annually, which contributes highly to the region's need for emergency medical equipment.
Moreover, the North American market's growth is further driven by the strong presence of key industry players, constant technological developments, & a well-established hospital infrastructure, which all together support an environment conducive to the expansion & sustained leadership of North America in the global emergency medical equipment market, highlighting the region's vital role in shaping the industry landscape.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The Global Emergency Medical Equipment Market experiences a competitive landscape characterized by a variety of players competing for market share. Companies aim for technological development, strategic collaborations, & product innovations to gain a competitive edge. Further, the market's dynamism is driven by a constant quest to provide efficient & advanced emergency medical solutions worldwide.
In April 2023, Aster Medcity, in collaboration with Apothecary Medical Services, introduced India's first assisted reality ambulance, supported by advanced 5G satellite technology, launched in Thiruvananthapuram, which functions as a mobile emergency room equipped with advanced Point of Care devices for instant patient screening. Further, features include an exterior-accessible crash cart door for disaster field casualties, connected smart glasses for live specialist support, & Wi-Fi-enabled biomedical devices for live data transmission to control room specialists, allowing continuous monitoring & treatment during transit.
Some of the prominent players in the global Emergency Medical Equipment Market are:
- Stryker
- 3M
- Medtronic
- GE Healthcare
- B. Braun SE
- Johnson & Johnson Pvt Ltd
- Cardinal Health
- Asahi Kasei
- BD
- Smith & Nephew
- Other Key Players
Recent Developments
- In September 2023, the Power Grid Corporation of India signed an MoU deal with AIIMS Raipur, under which, PGCIL will contribute INR 15.5 CR from its Corporate Social Responsibility (CSR) funds to equip AIIMS Raipur with essential medical resources, and will be utilized acquiring a CT Scan Machine, an ambulance, recovery cum patient shifting trolleys, foldable wheelchairs, and e-rickshaws.
- In June 2023, the Greater Chennai Traffic Police unveiled the 'mSiren' Smart Ambulance Traffic Facilitation System to enhance the switching transport of patients to hospitals during the critical 'golden hour.', which involves fitting ambulances with a 'Smart Siren' transmitter device linked to traffic signal systems. Further, activating the main device triggers live signals, informing traffic police & road users about the approaching emergency vehicle, ensuring a smooth & expedited ambulance movement through the city.
- In May 2023, Patient Square Capital, a leading healthcare investment firm, introduced Elevage Medical Technologies, a new venture dedicated to supporting the advancement of promising medical device companies via financial backing & profound strategic guidance. Further, Patient Square committed USD 300 million to Elevage, which aims to provide essential financial & strategic support to innovative medical device technology companies, shaping the future of healthcare with advanced devices for improved patient outcomes and quality of life.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 26.7 Bn |
| Forecast Value (2032) |
USD 47.2 Bn |
| CAGR (2023-2032) |
6.5% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Product (Diagnostic Medical Equipment,
Emergency Resuscitation Equipment, Patient
Handling Equipment, Personal Protective Equipment,
and Others), By Application (Cardiac Care, Trauma
Injuries, Respiratory Care, Oncology, and Others), By
End User (Hospitals & Trauma Centers, Ambulatory
Surgical Centers (ASCs), and Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Stryker, 3M, Medtronic, GE Healthcare, B. Braun SE,
Johnson & Johnson Pvt Ltd, Cardinal Health, Asahi
Kasei, BD, Smith & Nephew, and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Emergency Medical Equipment Market size is estimated to have a value of USD 26.7 billion in
2023 and is expected to reach USD 47.2 billion by the end of 2032.
North America has the largest market share for the Global Emergency Medical Equipment Market with a
share of about 36.3% in 2023.
Some of the major key players in the Global Emergency Medical Equipment Market are Stryker, 3M,
Medtronic, and many others.