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| Emergency Medical Equipment Market Growth |
The global Emergency Medical Equipment Market is estimated to be valued at US$ 25.32 Bn in 2023 and is expected to
exhibit a CAGR of 6.3% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
Emergency medical equipment refers to a wide range of medical devices and
consumables used for emergency healthcare. This includes emergency patient
monitors, trauma and splinting equipment, defibrillators, electrocardiographs,
and resuscitation equipment. Emergency medical equipment offers a range of
benefits such as timely screening, diagnosis, and monitoring of patients in
emergencies and trauma cases. They help stabilize critical patients and prevent
fatalities. Owing to the growing prevalence of chronic diseases and
life-threatening medical conditions, emergency medical equipment plays a vital
role in emergency healthcare systems across the world.
Market key trends:
One of the key trends in the Emergency
Medical Equipment Market Growth is the growing adoption of automated
external defibrillators (AEDs). AEDs play a critical role in improving survival
rates from sudden cardiac arrest. With technological advancements, new
generation AEDs are equipped with advanced features such as automated voice prompts,
ECG analysis, and shock delivery. They are also designed to be user-friendly
and can be effectively used by laymen and first responders during medical
emergencies. However, high costs associated with emergency medical equipment
and lack of proper emergency medical infrastructure in low-income countries may
challenge market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: Low capital requirements and availability of
substitutes pose a moderate threat of new entrants in the emergency medical
equipment market.
Bargaining power of buyers: Large buyers such as hospitals and emergency
medical services have significant bargaining power due to the fragmented nature
of suppliers in this market.
Bargaining power of suppliers: A few major players dominate the supply of major
emergency medical equipment. This gives them significant bargaining power over
buyers.
Threat of new substitutes: Technological advancements bring in new substitute
products, increasing the threat of substitution. However, regulations limit
swift adoption of substitutes in emergency care.
Competitive rivalry: The emergency medical equipment market witnesses high
competition due to the presence of numerous global and regional players.
Key Takeaways
The global emergency medical equipment market is expected to witness high
growth, exhibiting a CAGR of 6.3% over
the forecast period, due to increasing prevalence of chronic and infectious
diseases. The market size for 2023 is estimated to be US$ 25.32 Bn.
Regionally, North America dominated the emergency medical equipment market in
2023 with a share of over 35%, due to supportive regulatory landscape and
presence of prominent manufacturers in the region. However, Asia Pacific is
expected to exhibit the fastest CAGR during the forecast period, owing to
rising healthcare expenditure and increasing demand for high-quality emergency
care in densely populated countries like India and China.
Key players operating in the emergency medical equipment market are 3M, Abbott,
Asahi Kasei Corporation, B. Braun Medical, BD, Cardinal Health, GE Healthcare,
Henry Schein, Johnson & Johnson, Philips Healthcare, Smith & Nephew,
and Stryker Corporation. These players are focusing on new product development
and acquisitions to strengthen their market position.
Read More: https://www.trendingwebwire.com/the-growth-of-emergency-medical-equipment-market/