Ambulance Equipment Market Size, Share, Trends & Growth Forecast To 2027
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Ambulances are medically-equipped emergency vehicles that may help a patient in dire circumstances. The ambulance is a vehicle that hospitals purchase for the purpose of transporting very ill and injured patients who require immediate assistance. To help stabilize patients before they arrive at hospitals, ambulances are frequently fitted with assisting equipment, such as ECG monitors, defibrillators, spinal boards, infusion syringes, ventilators, nebulizers, and sphygmomanometers, etc. In many cases, there isn't enough time to transport a patient to a healthcare facility without immediate assistance or first aid. Ambulances, therefore, play a vital role in saving lives daily.
HOW DOES COVID-19 IMPACT THE AMBULANCE EQUIPMENT MARKET?
The pandemic has a wide range of repercussions on the planet. Due to lockdowns, quarantines, and restrictions on the provision of services and the production of goods, Covid 19 decimated several industries. For instance, the healthcare industry suffered greatly as a result of the rise in the demand for healthcare professionals and the difficulty in treating patients with chronic diseases as a result of insufficient hospital resources. In addition, the pandemic diverted all hospital staff and resources to covid patients as a result of the epidemic.
The absence of ambulance services was one of the numerous resource shortages. As reports of COVID cases increased, ambulances were required to transport emergency patients to the hospitals. However, the ambulance services had problems coordinating between the covid and non-covid patients. They also had trouble frequently cleaning each ambulance so that it could accommodate additional people. As a result, patients had to wait a long time to obtain an ambulance. The need for ambulances and ambulance equipment was thus greatly enhanced by the epidemic.
Therefore, the pandemic had a reasonably positive impact on the demand for ambulance equipment.
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MARKET DYNAMICS:
The market is growing as a result of a rise in the number of elderly people who could need assistance and cardiovascular disease cases. The inhabitants of high-income nations go to low-income nations to reduce medical costs and wait times. In contrast, low-income nations' populations travel to high-income countries like the U.S. for better services and facilities along with cutting-edge treatments and to support the market's expansion.
Road accidents are emergencies that result in emergency assistance needs and human fatalities. People's lives might be lost with a delay in the help's arrival. Ambulances and their equipment are thus needed for traffic accidents. The industry is also growing as a result of trauma incidents and road accidents. The global medical tourism industry's growth is also assisting the market by increasing awareness of the need for and importance of ambulances.
Over 37,000 people die in road accidents in the U.S. each year, and 2.35 million more have injuries or impairments, according to ASIRT. Road accidents are the ninth leading cause of mortality globally. Additionally, according to the Association for Safe International Road Travel, 1.3 million people globally die on the roads each year, and 20 to 50 million suffer permanent disabilities due to traffic accidents. The frequency of traffic accidents increases the demand for ambulances, which is anticipated to boost the growth rate of the ambulance equipment market.
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ANALYSIS OF VARIOUS SEGMENTS INVOLVED IN THIS MARKET:
Based on the equipment, the equipment segment which is related to cardiovascular illnesses is anticipated to lead the ambulance equipment market during the forecast period. Cardiovascular illnesses are on the rise as a result of an aging population and sedentary living patterns. Since these illnesses frequently result in unexpected suffering and death, immediate help is required. As a result of the population's requirement for cardiac equipment, the category is predicted to dominate the market.
Based on the transportation mode, because there is more need for air ambulances, the air ambulance market is anticipated to expand. To relieve patients and remain operational around the clock, air ambulances offer top-notch emergency medical care in urban and rural areas, which helps the market to develop.
Geographically, North America held the largest share of the global ambulance equipment market in 2021. Due to several factors, including the presence of several significant market players, the rising demand for high-quality healthcare services, a developed healthcare infrastructure, favorable reimbursement policies, and regulatory reforms in the healthcare industry, the North American ambulance equipment market currently commands the largest share. In addition, the U.S. healthcare system's emphasis on value-based services and care quality has also benefitted the market for ambulance equipment.
A number of factors, including the availability of a sizable potential for market participants, advancements in healthcare facilities, and an increase in the frequency of traffic accidents, are likely to contribute to the growth of the Asia Pacific ambulance equipment market. According to a 2015 WHO assessment on road safety in South-East Asia, 23% of all traffic deaths worldwide—or around 316,000 people per year—occur due to injuries sustained in accidents.
KEY MARKET PLAYERS:
• 3M
• Medtronic
• Stryker
• GE
• BLS Systems
• Allied Healthcare Products
• Dragerwerk
• Ambu A/S
• PerSys Medical
• Emergency Medical International
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