Ambulance Equipment Market

Ambulance Equipment Market Size (2023 to 2028)

As per our analysis report, the global ambulance equipment market is forecasted to be worth USD 9.41 billion by 2028 from USD 7.71 billion in 2023. Furthermore, the market is expected to grow at a CAGR of 4.08% from 2023 to 2028.

Ambulances are emergency vehicles equipped with medical equipment to assist a patient in critical conditions. The ambulance is a vehicle bought by healthcare institutions or works with ambulance vehicle providers to bring in injured and critical patients who need help urgently. Many times, there isn't enough time to take a patient to a healthcare center without any immediate assistance or first aid; therefore, balances are often equipped with all kinds of assisting devices such as ECG monitors, defibrillators, spinal boards, infusion syringes, ventilators, nebulizer, sphygmomanometer, and others which help stabilize the patient before reaching the hospitals. Therefore, ambulances are essential vehicles that save lives every day.

COVID-19 Impact on the global ambulance equipment market:

The world experienced numerous effects of the pandemic. COVID-19 destroyed many industries due to lockdowns, quarantines, and limitations on providing services and manufacturing commodities. For instance, the healthcare sector suffered considerably as the demand for healthcare workers increased, and it became more challenging to treat patients with chronic illnesses due to inadequate hospital resources. Due to the outbreak, the pandemic directed all hospital personnel and resources toward COVID-19 patients. 

In conclusion, the sudden growth in the need for ambulances positively impacted the development of the ambulance equipment market.

Among the many lack of resources was the scarcity of ambulance services; as more cases of COVID-19 were being reported, there was a need for ambulances to carry emergency patients to the hospitals. However, the ambulance services had difficulty coordinating between the COVID-19 and non-covid-19 patients. They also struggled with regularly sanitizing each ambulance to prepare it for more patients. As a result, patients were waiting for long periods to access an ambulance. Therefore, the pandemic immensely increased the need for ambulances and ambulance equipment. 

MARKET DRIVERS:

The global ambulance equipment market is majorly driven by the rising aging population who may need assistance and cases of cardiovascular problems.

The number of traffic accidents along with trauma incidents is also pushing the market expansion. Ambulances are now including better equipment for advanced operational services to increase the patient's chances of survival. Such innovative steps to increase ambulance efficiency are expected to propel market growth. The increasing need for ambulances during COVID-19 times helped the market prosper.

The growing adoption of medical tourism worldwide to help spread awareness about the need for and importance of ambulances is boosting the market.

The populations from high-income countries travel to low-income countries to cut medical expenses and have less waiting time, with the people traveling to high-income countries such as the U.S. for better services and facilities coupled with advanced treatments and boosting the market's growth. In addition, these traveling patients require air and ground ambulance services and equipment like hemorrhage and control equipment, thus increasing the demand. 

The growing rate of accidents is anticipated to bolster the growth rate of the ambulance equipment market.

Road accidents are incidents that require immediate and instant assistance and are fatal to people. Even the slightest delay n the arrival of help may lead to people losing their lives. Therefore, road accidents require assistance from ambulances and their equipment. According to ASIRT, over 37,000 people die in traffic accidents in the United States every year, and an additional 2.35 million suffer injuries or disabilities. The ninth biggest cause of death worldwide is road accidents. In addition, the Association for Safe International Road Travel estimates that 20 to 50 million individuals worldwide are either crippled or injured due to traffic accidents, and World Health Organization (WHO) says 1.3 million people pass away on the roads yearly. This prevalence of road accidents further pushes the need for ambulances leading to market growth.

MARKET RESTRAINTS:

The shortage of skilled professionals to provide ambulatory assistance and the high costs associated with emergency services are expected to restrain the market's growth.

REPORT COVERAGE:

This research report on the global ambulance equipment market has been segmented and sub-segmented based on equipment, transportation mode & region.

Ambulance Equipment Market – By Equipment:

• Burn Care Equipment
• Blood and Haemorrhage Control devices
• Transportation Equipment
  • Wheelchair
  • Stretcher
  • Other
• Diagnostic and Infection Control Equipment
• Respiratory and Hypothermia
  • Masks
  • Nebulizers
  • Laryngoscopes
  • Tubes
  • Others
• Cardiac Equipment
  • Defibrillator
  • Pacemaker
  • ECG Monitor
  • Others
• Others

Due to the rise in the geriatric population and sedentary lifestyle habits, cardiovascular diseases are on the rise. These diseases need immediate assistance as they often cause sudden pain and death. Therefore, the cardiac equipment segment is expected to dominate the market due to its need among the population.

Ambulance Equipment Market – By Transportation Mode:

• Ground Ambulance
• Air Ambulance
• Water Ambulance

The air ambulance segment is expected to grow due to the increased demand for air ambulances. Air ambulance provides quality emergency medical care in remote locations and cities and is active 24/7 to relieve patients, thus promoting market growth.

Ambulance Equipment Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

The highest share of the global ambulance equipment market belonged to North America in 2022, and the region is expected to continue dominating the market for ambulance equipment during the forecast period. The North American ambulance equipment market dominance can be attributed to several factors, including the presence of several major market players in this region, the rising demand for high-quality healthcare services, a developed healthcare infrastructure, and favorable reimbursement policies and regulatory reforms in the healthcare industry. In addition, the market for ambulance equipment has benefited from the U.S. healthcare system's focus on the quality of care and value-based services.

Over the forecast period, the Asia Pacific region is anticipated to experience the quickest growth. The Asia Pacific ambulance equipment market is expected to grow because of several factors, including the existence of enormous potential for market participants, improvements in healthcare facilities, and a rise in the number of traffic accidents in countries such as China, India, and South Korea, Japan, etc. For example, according to a report on road safety in the South-East Asia region released by WHO in 2015, some 316,000 people die there yearly from traffic-related injuries, making up 23% of all traffic fatalities worldwide.

Key Market Participants:

Some of the most promising companies in the global Ambulance Equipment Market profiled in this report are 3M, Medtronic, Stryker, GE, BLS Systems, Allied Healthcare Products, Dragerwerk, Ambu A/S, PerSys Medical, and Emergency Medical International.

RECENT MARKET DEVELOPMENTS:

• Advantech Healthcare Europe introduced HIPPO Mobility, the UK's first technology-driven, specialized, asset-light, and cost-effective transportation service for disabled, elderly, and non-emergency patients, in October 2020.
• The International Critical Air Transfer Team (ICATT) and the Kyathi, based in Bangalore, Karnataka, India, launched India's first integrated air ambulance service in September 2020.
• In June 2018, Medtronic PLC partnered with the Mexican Red Cross to improve emergency response in the US-Mexico border region. Such an attempt could broaden the company's geographic reach.