Emergency medical equipment is an integral part of health care systems. It comprises specialized equipment and products to aid in the provision of emergency care. Severe physical injuries such as trauma and medical emergencies such as cardiac arrest are life threatening and require quick medical attention. Thus, a rise in the incidence of trauma injuries and other medical emergencies creates lucrative opportunities for the emergency medical equipment market. As per the U.S. American Association for the Surgery of Trauma, around 3 million non-fatal injuries occurs each year in the U.S, which lead to over 150,000 deaths. Improving hospital care facilities, rise in demand for emergency medical equipment, and increase in government expenditure are anticipated to drive the global emergency medical equipment market. However, high price of emergency medical equipment and product recall due to improper functioning are expected to hinder the growth of the market during forecast period.
The global emergency medical equipment market can be segmented based on type, application, end-user, and geography. Based on type, the global emergency medical equipment market can be classified into wound care consumables, patient handling equipment, emergency resuscitation equipment, infection control supplies, patient monitoring systems, personal protection equipment, and others. The emergency resuscitation equipment segment is expected to hold a significant share of the market during forecast period, owing to a rise in in the number of emergency visits and increase in demand for emergency resuscitation equipment. In terms of application, the global emergency medical equipment market can be categorized into trauma injuries, cardiac care, respiratory care, and other applications. The cardiac care segment is expected to account for a significant share of the market during forecast period, due to high incidence of cardiac diseases and rise in geriatric population prone to cardiac diseases. Based on end-user, the global emergency medical equipment market can be classified into hospitals, ambulatory surgical centers, specialty clinics, and others. The hospitals segment is anticipated to dominate the market during forecast period due to developments in hospital infrastructure, rise in the number of hospital visits and hospital stays, and increased government spending on health care facilities.
In terms of geography, the global emergency medical equipment market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is anticipated to hold a significant share of the market, followed by Europe. High incidence of trauma injuries, rise in the number of emergency visits, strong presence of key players, technological advancements, and well-established hospital infrastructure are estimated to propel the emergency medical equipment market in North America and Europe. The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period. The market is likely to be driven by India and China, owing to significant emergency visits by patients, rise in geriatric population prone to medical emergencies, increased government funding, and developing hospital infrastructure. The market in Latin America and Middle East & Africa is anticipated to expand at a sluggish pace during the forecast period, owing to high cost of emergency medical equipment and lack of proper health care facilities and skilled manpower.
Leading players operating in the global emergency medical equipment market include GE Healthcare, Stryker, Asahi Kasei, Medtronic, Cardinal Health, Philips, 3M, Smiths Medical, Smith & Nephew, Becton, Dickinson, Johnson & Johnson, and B. Braun.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.