High Prevalence of Chronic Diseases and Emergence of Covid-19 to Augment Growth of Ambulance Equipment Market

 

Ambulance Equipment Market

Ambulance equipment are essential for the survival of patients. The most common ambulance service equipment include the resuscitation apparatus, the backboard, the stretcher and the lightweight oxygen concentrator. All of these items are crucial to saving the life of a patient, but the most critical among these is the life-saving airway pressure system, or the AED. This system is used to pump air into the lungs of the victim. All of these pieces of equipment are also commonly used by other emergency medical services and can be found on other medical vehicles such as the ambulance, combat vehicles, and hazardous vehicle response vehicles.

Market Dynamics

High prevalence of chronic diseases is expected to propel growth of the ambulance equipment market. For instance, according to the study, “Global and regional diabetes prevalence estimates for 2019 and projections for 2030 and 2045: Results from the International Diabetes Federation Diabetes Atlas, 9th edition”, published in the journal Diabetes Research and Clinical Practice, in September 2019, 463 million people are expected to suffer from diabetes in 2019 worldwide and the number is expected to reach 578 million by 2030 and 700 million by 2045. Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.        

Emergence of Covid-19 is expected to offer lucrative growth opportunities for players in the ambulance equipment market. For instance, globally, as of 4:45pm CET, 7 February 2021, there have been 105,394,301 confirmed cases of COVID-19, including 2,302,302 deaths, as reported to the World Health Organization. Moreover, increasing number of accidents is also expected to aid in growth of the market. For instance, according to National Crime Records Bureau, India, the rate of deaths per thousand vehicles in 2019 increased to 0.61 in 2019. 437,396 road accidents caused 154,732 deaths and injuries to 439,262 persons during 2019.

Competitive Analysis

Major players operating in the ambulance equipment market include, 3M, BLS Systems, Ltd., Medtronic Plc, GE Healthcare, Stryker Corporation, Allied Healthcare Products, Inc., Dragerwerk AG & Co. KGaA., Ambu A/S, Emergency Medical International, First Care Products, Ltd., and Emergency Medical Products, Inc.

Major players operating in the ambulance equipment market are focused on launching new products to expand their product portfolio. For instance, in January 2021, Dragerwerk AG & Co. KGaA launched its new vital signs monitor Vista 120 SC.

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