Increasing expenditure and investments in medical services, as well as an increase in the number of trauma injuries, are the major reasons driving the growth of the emergency medical service (EMS) goods market. According to market research and competitive intelligence provider Fact.MR, a CAGR of 6.6% was recorded for the emergency medical service products market from 2015-2021.
Rising healthcare expenditures and the number of hospitals contribute to the market’s overall expansion. However, product replacement owing to faulty operation and increased market penetration impede market growth. Growing technological advancements are projected to create attractive industry prospects. On the other side, a lack of skilled personnel may be a hindrance to the market’s growth.
The market for emergency medical services (EMS) products is predicted to expand from 2022 to 2032. According to Fact.MR, the market would increase at a CAGR of 6.3% over the forecast period. Growth prospects became especially accentuated during the worst of the COVID-19 pandemic crisis, when healthcare providers were scrambling to provide medical care to severely infected patients.
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Key Challenges Prevalent in the Global Emergency Medical Service Products Market
Irregular Functioning may Impede Growth Prospects
Although the increase in healthcare expenditure and the number of hospitals will drive the expansion of the emergency medical service (EMS) products market in the coming years.
However, issues such as high prices connected with emergency products and product replacement owing to erratic functioning are projected to stymie market growth throughout the projection period. In the approaching years, the market’s expansion will be hampered to some extent by a lack of trained specialists.
What is the Growth Outlook for Emergency Medical Service Products in the U.S?
According to Fact.MR, North America is likely to lead the EMS product market over the projected period, documenting a 6.1% CAGR. Some of the reasons boosting the regional market include improvements in healthcare infrastructure and a greater emphasis on emergency treatment by healthcare providers. Furthermore, high reimbursement coverage and the availability of experienced personnel are expected to drive product demand throughout the projection period.
On 29th July, 2020 In the United States, Royal Philips announced the availability of remote monitoring and defibrillator system (Tempus ALS) for pre-hospital situations. The solution is a full end-to-end system that combines novel hardware and powerful software to broaden first responders’ pre-hospital area of treatment. The professional defibrillator (Tempus LS-Manual) is the final component of the total system to get 510(k) approval from the United States Food and Drug Administration (FDA) and is now available for purchase in the United States market. The remote monitoring and defibrillator system (Tempus ALS) is a one-of-a-kind modular platform that includes a remote portable vital signs patient monitor (Tempus Pro) and a remote professional defibrillator (Tempus LS-Manual).
While the monitor and defibrillator may be used independently, they can also communicate wirelessly to share data and upload vitals, waveforms, and pictures to Philips’ web-based software platform (IntelliSpace Corsium). The software platform enables rapid clinical and transport decision support, as well as seamless electronic patient care recording (ePCR) integration outside the hospital in emergency settings, by providing robust, real-time transfer of clinical data and events, interactive ECG measurement, two-way communication, and more. All these factors are likely to boost the market.
Which EMS Application has the Biggest Demand in the Market?
Increasing Incidences of Cardiovascular Problems to be Top Growth Driver in the Coming Years
According to Fact.MR, in terms of market share, emergency medical service products are expected to have the most use in cardiac care and trauma injuries, owing to the increasing incidence of cardiovascular problems and the worldwide elderly population. Oncology will also be a significant application of emergency medical service products.
Governments all around the world have been expanding their investments, cash, and grants for the development of hospital infrastructure and amenities. Furthermore, the rising incidence of trauma injuries and chronic diseases has resulted in an increase in hospital admissions globally. As per Fact.MR, cardiac care and trauma injuries will jointly contribute 50% revenue.
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Competitive Landscape
The global market for EMS products is extremely fragmented and is defined by product clinical outcomes and new product introductions. As a result, leading EMS product manufacturers are pursuing tactics like as clinical trials, research and development, acquisitions, partnerships, and joint ventures to expand their market reach.
Recent Developments
- Globally, personal protection equipment (PPE) is utilized by all levels of EMS staff in 2020 to reduce the danger of catching an undesired infection. PPE worn in the field can range from gloves to body isolation garments for the most vulnerable patients. EMS personnel’s use of personal protective equipment (PPE)has changed throughout time. Gloves were not often used decades ago, but they are now used in practically every EMS call.
- Demers Ambulances USA Inc. announced a new ambulance vehiclefrom the Crestline brand’s CCL 150 product line in 2020. The CCL 150 ambulance line seeks to bring a sigh of relief for EMS companies in the United States looking for safe and durable ambulances at a reasonable price.
Key Segments Covered in the Emergency Medical Service Products Industry Report
Emergency Medical Service Products by Product Type :
- ECG Monitors
- Pulse Oximeter
- EEG Monitors
- Temperature Monitors
- Intracranial Pressure Monitors
- Transcranial Dopplers
- Disinfectant and Cleaning Agents
- Other Product Types
Emergency Medical Service Products by End User :
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Other End Users
Emergency Medical Service Products by Application :
- Cardiac Care
- Trauma Injuries
- Respiratory Care
- Oncology
- Other Applications
Emergency Medical Service Products by Region :
- North America Emergency Medical Service Products Market
- Latin America Emergency Medical Service Products Market
- Europe Emergency Medical Service Products Market
- Japan Emergency Medical Service Products Market
- APEJ Emergency Medical Service Products Market
- Middle East & Africa Emergency Medical Service Products Market
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