ID: MRFR/HC/6891-CR | March 2021 | Region: Global | 174 pages
Global Emergency Medical Services Market is expected to register a 6.91% CAGR during the forecast period.
Emergencies typically occur in cases such as cardiac arrests, road accidents, and others. Trained technicians or paramedics offer first aid to the patient, i.e., pre-hospital care and shift the patient to an appropriate facility. Pre-hospital medical services include acute medical care, transportation of the patients, and ambulatory services. The increasing prevalence of investments by government bodies on healthcare infrastructure is positively influencing the global emergency medical services market. However, the lack of trained professionals to handle the equipment is hampering the market, and product recalls are adversely affecting the market growth.
The growth of the global emergency medical services market is expected to be driven by the rising incidence of trauma and injuries, huge demand for emergency care, and increased investment in hospitals for ambulance services to provide better patient care in an emergency. However, the high price of EMS services and vehicles being manufactured to cater to the demand for the healthcare industry and stringent government regulations about EMS on the manufacturers are restraining the market growth. On the other hand, collaborations of major players with small players and a rise in innovations by emerging and established players in the EMS market are likely to create lucrative opportunities for the market players.
Global Emergency Medical Services Market Growth, 2019–2027
Americas accounted for 41.84% share of the global emergency medical services market in 2019, followed by Europe. Asia-Pacific accounted for the third-largest market share in 2019. Asia-Pacific is expected to be the fastest-growing market for emergency medical services during the review period.
Global Emergency Medical Services Market is segmented based on product & Services, Application, End User, and Region. By product & services, the global market is categorized into product and services. On the basis of application, the global emergency medical services market has been classified into cardiac care, trauma injuries, respiratory care, and others. Based on end user, the global emergency medical services market has been segmented into hospitals & trauma centers, and ambulatory surgical centers, and others.
Global Emergency Medical Services Market Segmentation
The Respiratory Care segment is expected to grow at the highest CAGR during the forecast period
Respiratory emergencies involve many conditions involving the respiratory tract or lungs, ranging from shortness of breath to complete respiratory arrest. The rise in pollution levels has led to increased respiratory infections and aggravation of chronic respiratory diseases, such as chronic obstructive pulmonary disease (COPD) and asthma. Therefore, these factors are anticipated to drive the growth of the emergency medical service market. Other applications of emergency medical services include neonatal care, mortuary services, and more. The segment is projected to register a 7.39% CAGR during the forecast period. The cardiac care segment accounted for the market share in 2019, with a market value of USD 15,912.13 million.
Emergency Medical Services Market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
Global Emergency Medical Services Market Share, By Region, 2019 (%)
The Americas accounted for a market size of USD 16,728.67 Million in 2019 and is expected to exhibit a 6.40% CAGR by the end of the forecast period. The 41.84% market share of the Americas can be attributed to the high prevalence of cardiovascular disease, a high number of accidents, well-developed healthcare and hospital sector and well-established medical emergency service in the region. According to the CDC survey, in 2017, there were about 138.97 million visits to the medical emergency department, of which 14.5% of patients arrived in an ambulance.
Additionally, the growing elderly population is also helping in the growth of the emergency medical services market in the Americas. As per the Administration for Community Living, in the Americas, over the last ten years, the population aged 65 and over grew from 37.2 million in 2006 to 49.2 million in 2016. According to CDC, during 2014–2017, 20% of all emergency department (ED) visits in the US were made by patients aged 60 and above, representing an annual average of approximately 29 million ED visits. Hence, the growing older population is further anticipated to boost the growth of the emergency medical services market. In addition, good reimbursement coverage and availability of skilled professionals in the region are further anticipated to provide growth to the market. Hence, the above-mentioned factors are expected to boost the growth of the emergency medical services market in the Americas during the study period.
The Players Profiled in the report on the Global Emergency Medical Services Market are 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 Questions Addressed by the Report
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.