ID: MRFR/HC/6891-CR | March 2021 | Region: Global | 174 pages
The Emergency Medical Services Market is one that functions allied with the hospital and healthcare sector. The Emergency Medical Services Market size is expected to register a 6.91% CAGR during the forecast period. From that year till 2021, the Emergency Medical Services Market has seen considerable growth and development. As the name suggests, the emergency medical services or EMS include the services that come into play during an emergency health situation. For example, it is most needed during an accident. It is also needed during situations where patients need acute care.
Emergency medical services are most necessary because they have the power to save a life. This is also why the Emergency Medical Services Industry is a crucial market of the health care sector. The growth and development of the Emergency Medical Services Market show the signs of the overall growth of the healthcare sector. For example, emergency medical services assist during childbirth and pregnancy complications. Similarly, they help during heart attack victims and other mishaps like burn victims.
The importance and necessity of the Emergency Medical Services are gauged by how fast and effectively they can act on emergency health situations. For this, the Emergency Medical Services sector needs ultramodern assistive technology and other equipment. The following Emergency Medical Services Industry Research report studies the different trends and growth projections of the Emergency Medical Services Industry. It talks about the different drivers of growth in the market. It also touches upon the various challenges and restraints that the Emergency Medical Services Market faces currently. On the other hand, the Industry Analysis also takes into consideration the different regional markets and individuals segments of the market. This is a comprehensive Emergency Medical Services Industry Report that takes many aspects of the market into the discussion.
COVID 19 impact
The COVID 19 pandemic was a challenge for all sectors of life, including business. The pandemic was especially challenging for the global healthcare sector as different segments of the sector struggled to face a new disease successfully. The Industry also got affected by the pandemic. As the pandemic was exposing the weak links of all the segments, the Emergency Medical Services Industry also faced its shortcomings. In the pandemic, the number of patient calls for help increased for the Emergency Medical Services Market. Simultaneously, the call for emergency help also increased from the rural area in the pandemic period. This was because rural areas also suffered highly during this period. Although the total percentage of actual COVID 19 cases was low, when applied to the global population, the actual number us pretty high.
In such situations, hospitals and Emergency Medical Services suffered setbacks both in the initial period as well as in subsequent waves. This is because of both manpower and equipment shortages. Although there has been considerable investment in the sector to eliminate the weak links, the sheer volume of the emergency caseload in the past one and half years has dominated the Emergency Medical Services Market.
Global Emergency Medical Services Market Growth, 2019–2027
There are many major factors that influence the Emergency Medical Services Market Growth patterns in the forecast period. For example, the exposure of weak links in the sector has led to a positive trend of more government investments. The healthcare infrastructure around the world is in for a revamp to avoid any further occurrence of a pandemic of this scale. Therefore, the Emergency Medical Services Industry also gets a huge chunk of organizational investment in the sector. Experts say that this will drive Industry Growth in the forecast period. For example, global healthcare spending rises from 2.6 percent in 2019 to 4 percent in 2020-24 period. This will only support the strengthening of the EMS sector.
As morbid as it sounds, the increased rate of trauma and injuries in commoners and the need for emergency services is an opportunity for the Emergency Medical Services Industry. The emphasis of hospitals to provide ambulance and other emergency care services to their patients at a faster speed and efficiency is an opportunity for the Emergency Medical Services Market. The spread of hospital infrastructure to rural areas in the post-pandemic is a trend that supports the expansion of the Emergency Medical Services Industry Size too.
There are many market restraints under which the Emergency Medical Services Market operates today. For example, the high price of modern ambulance vehicles and an increased price on special assistive technologies in emergency situations is a restraint. This creates disparity among different regional markets of the Emergency Medical Services Industry. On the other hand, stringent regulations of governments on the EMS manufacturing segment also do not help the cause.
There are some market challenges that exist in the Emergency Medical Services Market today. These challenges will foster Emergency Medical Services Industry Size growth once they are resolved. For example, the lack of trained operators and professionals in the Emergency Medical Services Industry is a challenge that resolves if there is proper training of emergency care providers at all levels. Similarly, the number of product recalls due to defects in it is also a reason behind the restrained growth of the EMS sector. When the manufacturing segment strengthens with much research and development, combined with trained manpower, the number of product recalls will decrease.
Cumulative growth analysis
Overall, the Emergency Medical Services Industry suffered a setback during the multiple pandemic waves. However, with new leases of investment in strengthening health infrastructure, the Emergency Medical Services Market also stands at an advantage for the next few years. The total CAGR for the Emergency Medical Services Market Forecast period will be almost 6.91%. This is a healthy growth projection of the market in the discussion. On the other hand, the different regional markets of the sector will support the growth of the Emergency Medical Services Industry too.
Global Emergency Medical Services Market Share, By Region, 2019 (%)
There are many segments of the Emergency Medical Services Market that contribute to the growth of the Emergency Medical Services Industry Value. These different segments are based on different criteria. The major segments of the EMS sector are based on products and services, applications, and end-users. The regional analysis for the Emergency Medical Services Industry is discussed in the next section. Based on the products and services, the Emergency Medical Services Industry divides into products and services. According to the applications, the major segments are cardiac care, trauma injuries, and respiratory care. On the other hand, the market segments into hospitals and trauma centers and ambulatory Surgical centers by end-users.
The Emergency Medical Services Market disperses over different regional markets by market share. The most important regional markets are the Americas, Asia Pacific, Europe, and Middle East & Africa. The Americas have the biggest stake in the global Emergency Medical Services Industry. The Americas have a 41 percent Emergency Medical Services Industry share. This is because of the jumped-up incidence rate of CVD diseases in the region. The region will show a CAGR of 6.4 percent in the Emergency Medical Services Market Forecast period. This closely follows the global rate of growth for the market. On the contrary, the Middle East and African region have the smallest Emergency Medical Services Industry share due to less focus on healthcare infrastructure.
The competitive landscape of the Emergency Medical Services Market is as follows-
These are the key players of the Emergency Medical Services Industry.
There are many developments in the EMS sector that support many Emergency Medical Services Market trends. There are a number of acquisitions and mergers that occurred in the last few years. Along with this, there is constant research and development of EMS products and services that support the Emergency Medical Services Industry trends. The major stakeholders of the Emergency Medical Services Market are taking up marketing and collaborations with hospitals to take a mutually beneficial approach to growth.
The Emergency Medical Services Market Outlook or overview is as follows:
This research outlook stresses the Emergency Medical Services Market Outlook up to 2028 and discusses the growth projections of the period. It discusses the major drivers of the market at length. It also provides a deeper understanding of the challenges and restraints active in the market today. On the other hand, it covers segment and regional analysis. It also covers the competitive landscape with key players and recent developments of the industry. A reader of this report can develop an understanding of the present and future of the Emergency Medical Services Industry.
|Market Size||USD 39,982.47 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product & Services, Application, End User, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Johnson & Johnson Services, Inc. (US), Stryker (US), Smiths Medical (US), Becton, Dickinson, and Company (US), Smith & Nephew (UK), Cardinal Health (Ireland), Koninklijke Philips NV (Netherlands), 3M Company (US), Braun, R. Bard (US), Medtronic plc (Ireland), Asahi Kasei (Japan), and GE Healthcare (US)|
|Key Market Opportunities||Collaborations of major players with small players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global emergency medical services market is projected to reach a valuation of USD 32.95 BN by 2025.
The global emergency medical services market is projected to grow at approximately 6.9% CAGR during forecast period (2019-2025).
Increasing investments by government in healthcare infrastructure.
North America holds the largest share in the global emergency medical services market followed by Europe and Asia Pacific, respectively.
Smiths Medical (UK), B. Braun (US), Philips (Netherlands), Asahi Kasei (Japan), Stryker (US), Medtronic (Ireland), Smith & Nephew (UK), GE Healthcare (US), Cardinal Health (US), 3M (US), Becton, Dickinson (US), C. R. Bard (US), and Johnson & Johnson (US), are some of the major players operating in the emergency medical services market.
This table of content is tentative and subject to change as the research progresses.
Please Note: Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.