PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514930
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514930
Ambulance Equipment Market size was valued at USD 5,123.32 million in 2023, expanding at a CAGR of 3.5% from 2024 to 2032.
Ambulance equipment comprises a diverse range of tools and supplies that are vital for delivering medical care and stabilizing patients while they are being transported to healthcare facilities. These items play a critical role in stabilizing patients at the site of an emergency and ensuring their safe transportation to medical facilities. An adequately equipped ambulance is essential for delivering prompt and effective care that regular vehicles are unable to provide. In addition to having the necessary equipment for emergency treatment, a well-equipped ambulance is also equipped with advanced GPS navigation systems that can efficiently guide the ambulance to the hospital via the quickest route, thereby saving valuable time.
Ambulance Equipment Market- Market Dynamics
The market growth is anticipated to be driven by the rising number of road accidents and the increasing trend of medical tourism.
Due to the escalating traffic congestion and the growing number of vehicles worldwide, the frequency of road accidents is increasing. Consequently, there is a greater need for ambulance services equipped with cutting-edge medical equipment to effectively respond to these emergencies. According to the World Health Organization, approximately 1.19 million individuals lose their lives each year due to road traffic crashes. Road traffic injuries are the primary cause of death among children and young adults aged 5-29 years. Medical tourism involves individuals traveling to foreign countries to avail themselves of healthcare services, often seeking treatments that are more affordable or unavailable in their home countries. Moreover, the continuous advancement in ambulance equipment, including portable diagnostic devices, telemedicine capabilities, and integrated monitoring systems, presents opportunities for companies to develop and market more sophisticated and efficient products. However, the market growth may be hindered by stringent regulatory requirements.
Ambulance Equipment Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 3.5% over the forecast period (2024-2032)
Based on Equipment segmentation, Respiratory Equipment was predicted to show maximum market share in the year 2023
Based on Transportation Mode segmentation, Ground Ambulance was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Ambulance Equipment Market is segmented based on Equipment, Transportation Mode, and Region.
The market is segmented into four divisions according to the type of equipment: Transportation Equipment, Burn Care Equipment, Diagnostic and Infection Control Equipment, Blood and Hemorrhage Control Equipment, Respiratory Equipment, Hypothermia Equipment, Cardiac Equipment, and Others. Among these categories, Respiratory Equipment holds the largest share in the market. It is an essential part of ambulance equipment, allowing emergency medical services (EMS) providers to provide prompt and efficient respiratory care to patients in pre-hospital settings. Respiratory equipment plays a vital role in managing respiratory distress, ensuring sufficient oxygenation, and maintaining the openness of the airway.
The market is segmented into three divisions according to the mode of transportation: Air Ambulance, Water Ambulance, and Ground Ambulance. Ground Ambulance holds the largest share in the market. Ground ambulances are equipped with a variety of medical tools and supplies to offer prompt medical assistance to patients in pre-hospital environments. These supplies may consist of airway management devices, oxygen delivery systems, defibrillators, intravenous (IV) supplies, trauma kits, and immobilization devices, among other essentials.
Ambulance Equipment Market- Geographical Insights
The market is geographically spread across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further segmented by countries contributing to business activities. North America leads the market, driven by the increasing demand for high-quality healthcare services and a well-established healthcare infrastructure. Particularly, the United States and Canada witnessed a surge in demand for top-notch healthcare services due to factors like an aging population, rising prevalence of chronic diseases, and heightened awareness about emergency medical care. Healthcare expenditure in the United States has exceeded USD 4.1 trillion, making it the largest healthcare industry globally, with 784,626 establishments. Patient care alone contributes USD1.068 trillion, representing 64% of the total healthcare revenue in the United States. Inpatient care, encompassing skilled nursing rehabilitation and non-surgical dental procedures, accounts for 4.49% and 2.98% of the total healthcare spending, as per U.S. healthcare industry statistics. Europe stands as the second-largest region for market growth, attributed to the increasing investments in Emergency Medical Services.
The market for ambulance equipment is highly competitive, with companies vying for an edge through product quality, innovation, pricing, distribution network, and customer service. Through a focus on innovation and strategic acquisitions, the company has managed to secure a leading position in the market. By prioritizing innovation, quality, and affordability, this company strengthens its competitive advantage. For instance, 3M recently introduced the 3M VHB Extrudable Tape, a new bonding solution that offers increased automation, simplicity, and sustainability across various industries. With a focus on integrated care and digital health technologies, this company is positioned as a key player in the changing landscape of emergency medical care.
In July 2024, Draeger Medical declared a recall of the Oxylog 3000 Plus Emergency and Transport Ventilator due to reports of the device ceasing to function when the battery died, despite being re-connected to AC power.
GLOBAL AMBULANCE EQUIPMENT MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Drager Medical, Inc.
Tree Medical
Ambu A/S
Stryker
Emergency Medical International
BLS Systems, Ltd.
GE Healthcare
First Care Products, Ltd.
Emergency Medical Products, Inc.
Covidine
3M
Allied healthcare products
MCKESSON CORP.
Others