The Global Ambulance Equipment Market was valued at US$ 4,315.4 million in 2017, and is expected to witness a CAGR of 3.3% over the forecast period (2018 – 2026).
Ambulance equipment is one of the major contributors to the hospital revenue and to the performance of the healthcare system. Ambulatory care equipment provide diagnosis, observation, and intervention services to patient with advanced medical treatments.
Rising number of ambulance services is the major factor augmenting growth of the ambulance equipment market. As ambulances equipped with advanced medical facilities, including devices used in emergencies, provide immediate medical care to the patient until he/she reaches the nearest hospital. Moreover, ambulances have trained medical crew onboard to treat patients in emergency situations en route to the hospital.
Commercialization of ambulatory drones that may require the use of ambulance equipment such as oxygen concentrators to provide essential oxygen supply to the people on the spot to remote locations and also transportation of defibrillator to a patient within 12 sq. km. zone within a minute is expected to spur growth of the market over the forecast period.
Drones are already operating in countries such as the U.S., Haiti, and some parts of Europe. Emerging economies are yet to commercialize the technology. Effective implementation of the technology is expected to propel growth of the ambulance equipment market.
Increasing number of accidents and growing geriatric population are expected to drive growth of the ambulance equipment market
Increasing cases of bone fractures, trauma due to fall, and others, are increasing the demand for medical intervention (orthopedics), thus, augmenting the need for ambulance equipment products. In 2012, according to the National Institute of Health, knee is the most commonly injured joint by adolescent athletes with an estimated 2.5 million sports-related injuries presenting to emergency departments, annually in the U.S. This number is expected to increase significantly over the forecast period.
Moreover, growing geriatric population across various regions worldwide along with high prevalence of heart disease is expected to propel demand for ambulance equipment in the near future. According to the data published in the Journal of the Formosan Medical Association, in November 2016, half of the population living in Asia is the geriatric population and it is growing at faster rate, which may cater the demand of ambulance services in Asia.
Key players operating in the ambulance equipment market include 3M, BLS Systems, Ltd., Medtronic Plc, GE Healthcare, Stryker Corporation, Allied healthcare products, Inc., Dragerwerk AG & Co. KGaA., Ambu A/S, Emergency Medical International, First Care Products, Ltd., and Emergency Medical Products, Inc.
Ambulance Equipment Market- Regional Analysis
Regional segmentation of the global ambulance equipment market by Coherent Market Insights comprises North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to dominant position in the global ambulatory services market, owing to cost-saving offers eliminating hospital stays in the region, shift of aging population to outpatient care. For instance, the partnership of Tenet Healthcare and United Surgical Partners International (USPI) in 2015 resulted in undertaking 20 imaging centers, 265 short-day surgical facilities with 4000 physicians.
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Furthermore, according to the National Center for Health Statistics estimates in 2017, the number of outpatient surgery visits in the U.S. is increased from 20.8 million to 34.7 million visits from the year 2006 to 2016, thereby catering to the growing demand for ambulance services, which requires ambulance equipment.
Asia Pacific is expected to witness fast growth over the forecast period, owing to the increasing healthcare issues with rising incidence of chronic diseases, and government initiation to introduce outpatient strategies. For instance, the launch of various mobile apps by China and Japan are providing medical knowledge and easy booking for outpatient appointments.