Market Trends of Emergency Medical Services Products Industry
Ventilators Segment is Expected to Show Significant Growth Over the Forecast Period
- Ventilators play a vital role in emergency medical departments by providing life-saving life support to patients in critical conditions. The major factors driving the segment growth include the increase in critical respiratory conditions such as acute respiratory distress syndrome (ARDS), chronic obstructive pulmonary disease (COPD), pneumonia, surging government initiatives and investments, and a rising number of product launches by prominent players. For instance, as per the data released by the Government of the UK in April 2021, approximately 1,152,272 people were suffering from COPD in England in 2021. Hence, the rising number of people suffering from COPD is projected to accelerate the demand for ventilators during the forecast period.
- Furthermore, the rising government funding to improve healthcare infrastructure worldwide contributes to market growth. For instance, in March 2022, the Australian government invested USD 132 billion in 2022-2023 and is expected to invest about USD 140 billion in 2025-26, with a total commitment of USD 537 billion over the next four years, including USD 7.3 billion increase in Medicare funding, USD 9.8 billion increase in Hospital funding and USD 10.1 billion increase in Aged Care funding as compared to 2021-2022 budget. Such initiatives are anticipated to fuel the production of advanced EMS products, propelling the market growth.
- Moreover, prominent players' rising number of product developments is also increasing the market growth. For instance, in January 2023, Getinge AB launched its new Servo-c mechanical ventilator that offers lung-protective therapeutic tools for pediatric and adult patients.
- Therefore, due to the high prevalence of COPD, rising government funding, and surging number of product developments, the segment is expected to grow significantly during the forecast period.
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North America is Expected to Hold the Significant Share of the Market Over the Forecast Period
- North America is expected to hold a significant market share over the forecast period due to the increasing number of emergency department (ED) visits, high healthcare expenditure, and the presence of various prominent players in the region.
- The rising number of ED visits in the region due to various emergency situations is projected to drive the demand for EMS products during the forecast period. For instance, as per the data published by the Canadian Institute for Health Information in February 2023, the total number of reported ED visits rose to around 14.0 million in Canada during 2021-2022, compared to 11.7 million in the previous year.
- Furthermore, the surge in the number of fatal injuries in the region also led to an increase in ED visits, thereby driving the market growth. For instance, according to the data released by the United States Bureau of Labor Statistics in December 2022, fatal work injuries in the United States reached 5,190 in 2021 compared to 4,764 in the previous year. Thus, such statistics indicate the increasing number of ED visits in the country, which is burgeoning the regional market growth.
- Furthermore, the presence of prominent players in the region and their active participation in launching advanced EMS products is also increasing the market growth. For instance, in May 2022, Invacare Corporation launched the Birdie Evo XPLUS lift in the United States.
- Therefore, the North American EMS market is expected to grow significantly due to the spur in the number of ED visits, increase in the incidence of fatal work injuries, and rising number of product launches.
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