Yahoo Finance Emergency Medical Services Market Worth USD 74,742 Million by 2027 at 6.91% CAGR - Report by Market Research Future (MRFR)
Emergency Medical Services Market Trends and Insights By Product & Services (Product and Services), Application (Cardiac Care, Trauma Injuries, Respiratory Care), End User (Hospitals & Trauma Centers, Ambulatory Surgical Centers) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa), Competitive Market Growth, Size, Share and Forecast to 2027
New York, US, May 16, 2022 (GLOBE NEWSWIRE) -- Emergency Medical Services Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Emergency Medical Services Market Information by Products and Services, Application, End-User, and Region - Forecast till 2027”, the market is expected to reach USD 74,742.22 Million at 6.91% CAGR from 2020 to 2027.
Market Synopsis
Emergency medical service can be described as a system that provides healthcare services required during an emergency. It is an active service offered during any kind of illness among patients. These services aim to offer emergency medical care to patients. These are intricate services with every part of the system playing an important role in the treatment.
Emergency medical services involve acute care of people, with a focus on treating obstetric, surgical, and medical emergencies. Emergency medical services products can be segmented into type, application, end-user, and region. The types of EMS products are personal protection equipment, wound care consumables, patient monitoring systems, infection control supplies, patient handling equipment, and others.
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Market Competitive Landscape:
The important firms in the emergency medical services market include
Bound Tree Medical
McKesson Medical-Surgical
Henry Schein, Inc.
Medline Industries, Inc.
Emergency Medical Products, Inc.
Stryker Corp.
Market USP Covered:
Market Drivers:
Emergency medical services facilitate the management of patients with obstetric, surgical and medical emergencies. The department also deals with the treatment of infections, injuries, strokes, heart attacks, acute pregnancy complications as well as asthma. For example, the United States has hospital along with non-hospital-based emergency departments. The Centers for Medicare and Medicaid Services (CMS) has segregated the emergency departments into two major categories, namely Type A and Type B.
The Type A functions throughout the day, 7 days a week, and 365 days a year while the Type B comprises departments that operate during a certain period of time. The American Association for the Surgery of Trauma says that in the country, trauma is one of the top four causes of death, regardless of the age group. Reports also confirm that in the United States, more than 3 million non-fatal injuries happen annually, resulting in over 150,000 deaths every year.
Furthermore, according to the CDC, in the United States, traumatic brain injury is one of the major causes of death and disability, accounting for close to 40% of all injury deaths. The escalating number of deaths and disability cases owing to trauma can propel the demand for emergency medical services. Additionally, associations like the American Trauma Society provide training and courses to prevent injuries, which could further enhance the demand for EMS services and products in the following years.
Market Restraints:
Significant costs of the modern ambulance vehicles and the rising prices of the advanced special assistive technologies during emergencies are major restraints. This leads to a huge disparity among various regional markets for emergency medical services. Strict government regulations pertaining to EMS manufacturing further exacerbate the situation.
Browse In-depth Market Research Report (174 Pages) on Emergency Medical Services: https://www.marketresearchfuture.com/reports/emergency-medical-services-market-8363
COVID-19 Analysis
To curb the number of infected people, the demand for a variety of medical supplies has surged. Respiratory support devices life-support machines, like atomizers, monitors and oxygen generators are some of the medical devices most extensively deployed in primary clinical treatment.
COVID-19 has resulted in a massive increase in the demand for medical supplies like personal protective equipment such as gloves, protective eyeglasses and masks. With the surge in the number of infection cases worldwide, the requirement for medical supplies continues to rise, both from the healthcare professionals as well as the civil population with respect to precautionary measures. Manufacturers of these supplies are trying to capitalize on this heightened demand, working on ensuring continuous and adequate supply of personal protective equipment. Considering these factors, it is likely that the COVID-19 outbreak will have a tremendous impact on the emergency medical services industry.
Market Segmentation
By Product & Services:
Products and services are the key segments considered in the MRFR report.
With respect to product, the commanding share in the worldwide market belongs to the life support & emergency resuscitation segment. The life support & emergency resuscitation section covers devices like endotracheal tubes, defibrillators, resuscitators, laryngoscopes and ventilators. Life support system types are Advanced Life Support (ALS) as well as Basic Life Support (BLS). ALS is an advanced version of the BLS system and requires extra training and expertise to be used.
By Application:
Trauma injuries, cardiac care, and respiratory care are the top applications of emergency medical services.
The cardiac care segment can anticipate garnering the highest share in the worldwide market for emergency medical services.
By End-User:
Ambulatory surgical centers, hospitals & trauma centers, and others are the major end-users in the emergency medical services industry.
The hospitals & trauma centers segment will be thriving at the highest pace in the next few years, thanks to the surging cases of chronic conditions as well as traumatic injuries. Another factor can be the rise in funds, grants, and investments by the government bodies for the development of the hospital infrastructure.
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Regional Insights
The Americas, with the highest stake in the emergency medical services industry, secures the lead out of all the regions, thanks to the accelerated cases of CVD disease in the region. The regional market will be exhibiting a strong CAGR in the years ahead, on account of the improving healthcare infrastructure as well as the mounting focus of the medical professionals on emergency care. On top of this, robust reimbursement coverage as well as the availability of trained and skilled professionals can further bolster the market share during the forecast period.
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Headed by rapidly developing economies like China, Japan, and India, Asia Pacific can expect to experience the fastest growth between 2020 and 2027. Escalating healthcare spending in these countries has been encouraging major firms to enter the untapped areas. Other favorable factors include the booming population, improving living standards, amplified demand for high-quality medical care, and the surge in the number of government initiatives.
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