According to the research report published by Market Data Forecast, the global ambulance equipment market size was valued at 7.41 billion in 2022, and it is anticipated to reach USD 9.05 billion by 2027 with a registering CAGR of 4.08% during the forecast period.
A recently identified coronavirus is the source of the infectious disease known as coronavirus disease (COVID-19). Most COVID-19 patients will have mild to moderate symptoms and recover without needing special care, but there is a greater demand for ambulance services. The overloaded service is known for having poor maintenance and excruciatingly long wait times. Due to the need to differentiate between Covid and non-Covid patients, the need to sanitize the vehicle after transporting Covid positives, a lack of protective gear, and, among other things, harassment by law enforcement officers on interstate roadways, small operators are prevented from traveling. The lack of ambulances makes it difficult for critically ill individuals who need regulation. Government initiatives to support the healthcare sector and reimbursement programs for healthcare services are driving the market’s expansion. As a result, the market is in great demand; however, due to a production deficit, the market is facing a slowdown.
Future growth in traffic accidents will increase demand for ambulance equipment. Around 20 to 50 million people are either disabled or maimed because of traffic accidents each year, according to the Association for Safe International Road Travel. Road accident victims require immediate rescue and rehabilitation. In addition, patients’ trauma management is aided by proper ambulance management at the right time. As a result, the need for ambulance equipment will increase in the years to come as there are more accidents around the world. The AirStrip ONE mobile platform from GE Healthcare gives physicians access to a complete picture of a patient’s health at the time of care, wherever they are, by integrating patient information from several data sources into a single user interface. Such technologies might be used in ambulances to aid in patient rescue during medical emergencies, which would spur market expansion.
The defibrillator and cardiopulmonary resuscitation-assist devices from Physio-Control International, Inc. are anticipated to supplement Stryker’s emergency medical service offerings, which already include ambulance cots and cot equipment, stair chairs, and evacuation equipment for healthcare facilities. The market for ambulance equipment is thus anticipated to increase favorably in the near future.
However, the production of equipment required in ambulances and other types of rapid medical transport systems is incredibly expensive, which restrains the global market for ambulance equipment. This is mostly because such equipment is necessary for saving lives and carries the associated costs. In addition, the inability to supply such products in impoverished areas where urgent medical needs might arise also poses a major barrier to the market’s growth.
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KEY TAKEAWAYS OF THE REPORT:
Based on the equipment, due to the rising number of burn cases around the world, the market segment for burn care equipment is predicted to develop at the quickest rate during the forecast period. For instance, the World Health Organization (WHO) reported in 2018 that each year in India, around 1,000,000 people suffer from moderate to severe burns. Additionally, it stated that burns are the second most frequent injury in rural Nepal and account for about 5.0 percent of cases of disability. In cases of burn injuries, the victims need to receive rapid medical care.
Based on the transportation mode, the air ambulance segment is anticipated to increase fastest over the forecast period. Air ambulance services use airplanes, fixed-wing aircraft, or helicopters when transporting patients from an accident to medical facilities. These services are primarily utilized to evacuate and save seriously ill or injured people; patient transfers from hospitals or healthcare facilities are less frequently performed. The majority of the equipment utilized in air ambulance services is for burn care, diagnostics, and infection control. Air ambulance services can quickly reach isolated locations where ground and water ambulance services cannot reach since they are faster than both of those types of services. The main drawback of air ambulance services is their high operating costs.
Geographically, throughout the forecast period, North America will dominate the global market for ambulance equipment. This is a result of the ambulance services’ cost-saving options. The market will experience significant development due to the rising demand for emergency care prior to hospitalization. Additionally, the market for ambulance equipment will be driven by an increase in the number of emergencies and companies providing ambulance services. Suppose an ambulance service is deemed medically necessary and the provider complies with Medicare’s ambulance requirements. In that case, Medicare will pay for emergency and non-emergency ambulance services in the United States. The growing paramedicine community in North America also contributes to the sizeable market in this area. The American Heart Association reports that stroke was the number one cause of mortality in the US in January 2019. Atrial fibrillation affects over 2.7 million people nationwide, and a blockage in the blood vessel that carries blood to the brain causes 800,000 strokes each year.
3M, Dragerwerk AG & Co. KGaA, Ambu A/S, Emergency Medical International, BLS Systems, Ltd., Medtronic Plc, GE Healthcare, Stryker Corporation, Allied Healthcare Products, Inc., First Care Products, Ltd., and Emergency Medical Products, Inc. are major market participants in the ambulance equipment market.
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