Major factors driving growth of the global emergency room equipment market are increasing demand for advanced equipment in emergency care settings, increasing incidents of trauma injuries, and rising investments by government organizations in healthcare infrastructure improvement.
Technological advancements in emergency room equipment such as development of new and innovative imaging equipment, and development of portable and wireless CT scanner machines are some factors expected to drive growth of the global emergency room equipment market significantly over the forecast period.
Market Research.biz predict the global emergency room equipment market will witness a growth of CAGR 6 percent over the next 10 years. Availability of refurbished equipment on loan/lease are some key factors hampering growth of the global emergency room equipment market currently.
Refurbished equipment available in markets are relatively cheaper. Refurbished equipment offered on loan or lease reduces initial investment and addresses budget restraints related to setting up emergency services in healthcare facilities.
Technological advancements resulting into increase in cost of emergency room equipment. In addition, high power consumption of equipment and requirement of regular maintenance raises total costs associated with such equipment.
Development of equipment with advanced technologies is expected to create significant opportunities for players in the global emergency room equipment market. Persistence Market Research explains that ambulance and emergency equipment refers to the medical equipment that facilitates patient care during medical exigencies, such as accidents and surgeries, helps prevent loss of life, and minimizes personal injuries.
Technological advancement, increasing incidence of accidents, and growing aging population are some of the main boosters driving the ambulance and emergency equipment market.
North America, followed by Europe, has the largest market for ambulance and emergency equipment owing to technological advancement, increasing prevalence of chronic disorders, rise in healthcare expenditure, and developed healthcare infrastructure in this region.
Asia is expected to exhibit a high growth rate in the ambulance and emergency equipment market in the next few years given the developing healthcare infrastructure, rise in prevalence of accidents, increasing disposable income, growing incidence of various diseases, increasing elderly population, and rise in awareness about emergency equipment available in the market in the region.
Growing need for emergency medical services, rise in aging population, increasing prevalence of chronic diseases, government initiatives, changing lifestyle, growing number of emergency medical hospitalization cases, and technological advancement are expected to drive the global market for ambulance and emergency equipment.
In addition, increasing incidence of natural calamities, changing lifestyle, favorable reimbursement scenario, increasing incidence of accidents, and wide range of application area for ambulance and emergency equipment are expected to propel this equipment.
However, high cost related to emergency care services and lack of skilled professionals are two major factors restraining the growth for global ambulance and emergency equipment market. Growing demographics and economies in the developing countries, such as India and China, is expected to fuel the expansion of the ambulance and emergency equipment market in Asia.
In addition, innovations along with technological advancement, rise in demand for emergency medical services, rising incidence of accidents, increasing research and development activities, incessantly growing aging population, and discovery of more applications of ambulatory and emergency equipment are expected to offer new opportunities for the said market.
Market trends include frequent mergers and acquisitions, rise in the number of collaborations and partnerships, and new product launches. Major companies operating in the global ambulance and emergency equipment market are 3M, CO., BLS Systems, Ltd., Covidine, GE Healthcare, MCKESSON CORP., Stryker, and Allied healthcare products.