Advances in technology are reshaping the emergency medical supplies marketplace. Innovations, together with smart tracking devices, telemedicine answers, and greater communication tools, are enhancing the performance and effectiveness of emergency clinical offerings. These technological developments are not the simplest streamlining methods; however, they also contribute to better patient results. Disruptions within the delivery chain all through the early ranges of the pandemic caused a re-evaluation of supply chain techniques in the emergency medical supplies marketplace. The escalating frequency and intensity of natural screw-ups and climate-related emergencies have heightened the demand for emergency medical supplies. Events that include hurricanes, wildfires, and floods necessitate properly prepared emergency reaction structures, using the marketplace for components like first useful resource kits, evacuation gadgets, and trauma care merchandise.
There is an increasing emphasis on education and education inside the emergency medical supplies market. Healthcare experts, first responders, and the overall public are undergoing training applications to enhance their preparedness and response competencies for the duration of emergencies. This trend contributes to greater effective utilization of emergency medical supplies. The private sector and non-governmental organizations (NGOs) play a crucial role in the emergency medical supplies marketplace. Collaborations among those entities and government organizations are becoming greater, not unusual, facilitating the green distribution of scientific supplies and making sure a coordinated reaction occurs throughout emergencies. The regulatory landscape for emergency medical supplies is evolving to deal with the dynamic nature of emergencies. Regulatory corporations are adapting to the speedy creation of the latest technology and products, streamlining approval methods, and establishing clear pointers to ensure the protection and efficacy of emergency medical supplies.
Environmental sustainability is gaining prominence within the emergency medical supplies marketplace. Manufacturers are more and more incorporating eco-friendly materials within the production of disposable items, and there's a growing awareness of creating sustainable packaging solutions. This shift aligns with global efforts to lessen the environmental impact of healthcare-associated waste. With the improvement and distribution of vaccines against numerous infectious diseases, the emergency medical supplies market has noticed new attention on worldwide collaboration for vaccine distribution. Ensuring equitable access to vaccines and organizing green distribution networks are critical aspects of emergency preparedness and reaction.
Emergency Medical Supplies Market Highlights:
Emergency Medical Supplies Market Forecast
Emergency Medical Supplies Market is expected to cross USD 27.30 Billion by 2032 at a CAGR of 6.8%.
Market Synopsis
Emergency medical supplies are an integral part of health care systems. It includes lifesaving equipment and products to aid in the provision of emergency care. The emergency medical supplies market is a very dynamic market that consists of various medical supplies and products from life support and emergency resuscitation equipment to personal protection equipment. Medical supplies are important in the management of critically ill patients suffering from cardiac, respiratory, oncology, and other medical complications.
Market Influencer
The rising prevalence of COVID-19 across the globe is expected to influence the emergency medical supplies market growth during the forecast period. The rising cases of COVID-19 are directly responsible for increasing hospitalization and admissions in emergency wards. According to the report published by the World Health Organization (WHO), as of 11 June, 2020 more than 7 million patients from around 261 countries were suffering from COVID-19. Thus, the rising hospitalization of COVID-19 patients is likely to influence the demand for emergency medical supplies around the world.
Market Drivers
- The rising prevalence of chronic disorders is one of the major factors responsible for the growth of the emergency medical supplies market during the forecast period. According to the National Cancer Institute, it was estimated that 1,735,350 new cases of cancer were diagnosed in the US in 2018. Additionally, according to the American Cancer Society, Inc., it was determined that 1,762,450 new cancer cases were diagnosed in the US in 2019. Such a large patient population is predicted to entitle considerable growth for the global emergency medical supplies market in the near future.
- Increasing government initiatives for the development of the healthcare sector and increasing healthcare spending is also expected to drive the emergency medical supplies market growth. According to the report published by the U.S. Centers for Medicare & Medicaid Services, the US healthcare spending increased by 4.6% in 2018 and reached USD 3.6 trillion which is close to USD 11,172 per person
- The growing occurrence of road accidents and trauma injuries across the globe is also responsible for increasing demand for emergency medical supplies to manage the treatment of critically ill patients admitted in intensive care units. According to the Global Status Report on Road Safety published by World Health Organization (WHO), road accidents are responsible for around 1.35 million deaths per year, and the majority of the countries are taking necessary precautions to decrease the death rate. Strengthening of emergency care is a part of it, around 109 countries have activated telephone number with national coverage to activate the emergency care system.
- Rapid technological advancements in the field of emergency treatment are also impacting the demand for emergency medical supplies positively.
Market Restraints
- The stringent regulatory framework related to product approval is expected to curb emergency medical supplies market growth during the forecast period.
- The high cost of emergency equipment is hindering the demand in economically weak countries.
Emergency Medical Supplies Market Segmentation
By Product Type
- Life Support and Emergency Resuscitation Equipment: The Life Support and Emergency Resuscitation Equipment segment is further segmented into defibrillators, endotracheal tubes, ventilators, resuscitators, and laryngoscopes. Demand for life support equipment is increasing with the rising cases of COVID-19 across the globe.
- Patient Monitoring Systems: The patient monitoring systems are bifurcated into microelectromechanical systems, hemodynamic monitors, cardiac monitors, respiratory monitoring devices, neurological monitors, temperature monitoring devices, and prenatal and neonatal monitors. Hemodynamic Monitors are further classified into multi-parameter monitors, blood pressure monitors, blood glucose monitors, blood gas, and electrolyte analyzers. The cardiac monitors segment is segmented into ECG monitors, cardiac output monitors, and event monitors. Further respiratory monitoring devices are divided into pulse oximeters, anesthesia monitors, spirometers, capnography, and sleep apnea monitors. Neurological Monitors segment is further classified into EEG monitors, intracranial pressure monitors, cerebral oximeters, magnetoencephalography devices, and transcranial Doppler.
- Wound Care Consumables: The wound care consumables are further divided into dressings & bandages, sutures and staples, and others.
- Patient Handling Equipment: The patient handling equipment segment is classified into patient lifting equipment, medical beds, wheelchairs and scooters, and others.
- Infection Control Supplies: The Infection Control Supplies is further sub-segmented into disinfectants and cleansing agents and medical nonwovens.
- Personal Protection Equipment: This segment is further bifurcated into hand and arm protection equipment, head protection equipment, eye and face protection equipment, foot and leg protection equipment, and others.
By Application
- Cardiac Care: The largest segment and is expected to grow at the highest CAGR during the forecast period. The rising prevalence of cardiac disorders is increasing the demand for emergency medical supplies in hospitals. According to the Center for Disease Control and Prevention, over 630,000 Americans die from heart diseases each year, which accounts for one in every four deaths. A considerable share of the global population falling prey to cardiac disorders is driving the growth of this segment.
- Trauma Injuries: The increasing number of hospital admissions and trauma caused by road accidents is also facilitating the demand for emergency medical supplies in the near future.
- Respiratory Care: Emergency medical supplies such as ventilators are very effective and widely used in the management of patients suffering from respiratory disorders. Thus, the rise in the prevalence of respiratory disorders is expected to provide favorable conditions for the growth of the emergency medical supplies market.
- Oncology: The rising prevalence of cancer is a challenge in front of healthcare systems. Emergency medical supplies are used in the treatment of critically ill cancer patients. According, to the National Institutes of Health, it was estimated that 1,735,350 new cases of cancer were diagnosed in the US in 2018. Additionally, the American Cancer Society estimated that 1.8 million new cancer cases will be diagnosed in 2020 in the US.
- Others: Other application areas are neurology, dental care, and ophthalmology among others
By Distribution channel
- Retail pharmacies: The largest segment and expected to grow at the highest CAGR during the forecast period. The increasing number of retail pharmacies with a large distribution network is expected to drive the growth of this segment.
- E-commerce: The fastest-growing segment owing to the increasing adoption of online shops and rising awareness about E-commerce in developing countries.
- Others: This segment includes wholesale distributors, hospital pharmacies, and government organizations.
By End-User
- Hospitals & Trauma Centers: The largest segment and is expected to grow at the highest CAGR during the forecast period. The increasing developments in the healthcare sector and growing government initiatives are expected to drive the growth of this segment.
- Ambulatory Surgical Centers: The increasing number of patients visiting surgical centers is facilitating the demand for emergency medical supplies in ambulatory surgical centers.
- Others: It includes clinics, nursing homes, and specialty centers.
By Region
- Americas: The largest regional market. The increasing government initiatives and rising concerns in terms of health and safety of healthcare professionals are boosting the demand for the same. Moreover, the rising prevalence of COVID-19 infection is majorly contributing to the growth of this region. As per the current data i.e. on March 31st, 2020; the U.S. recorded 180,789 of infected cases. According to the world economic forum, the US now has the highest coronavirus-related death toll in the world, passing Italy. These increasing numbers of corona virus-positive cases are projected to impact the growth of the emergency medical supplies market.
- Europe: The healthcare market in Northern European economies, such as Germany, U.K., and Sweden, is expected to exhibit an increase in healthcare expenditure, rising cardiovascular patients thereby leading to the growth in production as well as consumption of emergency medical supplies. According to Crown copyright, around 3% of the total population of the UK is suffering from coronary heart disease and its hospital admission rate is 488.2 cases per 100,000. This in turn is anticipated to contribute a significant share in the regional market.
- Asia-Pacific: The fastest-growing regional market. Emerging market players in the untapped region, technological advancements, rising focus of government towards healthcare facilities, and large target population are some of the factors influencing the market growth. The growing geriatric population is another key factor driving the market growth in the region. According to the Asian Development Bank, Asia's elderly population is projected to reach nearly 923 million by 2050. India, China, and Japan are the major revenue contributors to the emergency medical supplies market growth.
- Middle East & Africa: The government initiatives and increasing investments in the healthcare sector of UAE and South Africa are expected to drive the growth of the emergency medical supplies market in this region.
Emergency Medical Supplies Market Key Players
- Stryker (US)
- 3M (US)
- Medtronic plc (Ireland)
- Koninklijke Phillips N.V. (Netherlands)
- GE Healthcare (US)
- Smith & Nephew (UK)
- Cardinal Health (US)
- Becton & Dickinson Company (US)
- Braun Melsungen AG (Germany)
- Abbott Laboratories (US)
- Bayer Corporation (Germany)
- Integra LifeSciences Corporation (US)
- Others
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report