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APAC Emergency Medical Supplies Market to Cover USD 12.5 Bn by 2026
Published Date: 2020-06-22
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According to the Graphical Research new growth forecast report titled Asia Pacific Emergency Medical Supplies Market value is set to exceed USD 12.5 billion by 2026. Governments of several countries are increasing funding for emergency care due to the rising prevalence of COVID-19 across the region. For instance, the Government of India has sanctioned about USD 1.9 billion for COVID-19 Emergency Response and Health System Preparedness Package. This will ramp up the number of ventilators, corona testing facilities and other emergency medical equipment, thereby positively influencing the supply these equipment.
Rising number of accidents and trauma injuries will drive the demand for emergency care in the region. About one in 10 deaths in Asia is due to injury, holding over 50% of injury-related deaths globally. Trauma injuries require immediate medical attention or may lead to long-term disabilities. Thus, with increasing accidents and increase in elderly pool susceptible to falls, the demand for emergency care products will expand in the future.
Diagnostics and monitoring equipment segment accounted for more than 17.0% revenue share in 2019. High prevalence of morbidities associated with chronic diseases such as high blood pressure, heart disease, cancer and diabetes among elderly population will primarily accelerate the need for early disease diagnosis. Furthermore, technological developments in monitoring equipment such as miniaturization and real-time monitoring will stimulate the segmental growth.
Cardiac care market was valued over USD 1.5 billion in 2019. As per the Australian Institute of Health and Welfare, over one million hospital admissions were due to cardiovascular disorders (CVDs) in 2016/17. CVDs hold significant cost burden in the country and thus timely treatment and management is necessary. Thus, in order to prevent death owing to sudden cardiac issues, the adoption of emergency cardiac care equipment will surge in the coming years. Also, the recent coronavirus infection has affected numerous patients suffering from various existing CVDs, that will in turn create demand for emergency cardiac equipment.
Retail stores distribution channel segment constituted more than 25% market share in 2019. Owing to the availability of medical products in retail stores during emergency situations, they save time and benefit with easy purchase. In addition, wide accessibility to retail stores in developing countries will boost segmental growth in coming years.
Trauma centers segment is projected to progress at around -15.5% CAGR by 2026. Significant rise in number of trauma injuries create demand for emergency medical supplies in trauma centers. Several healthcare facilities in Asian countries have developed standard protocol to streamline patient care in emergency situations. Thus, with increasing number of trauma centers and patients, the adoption of emergency supplies will expand in forthcoming years.
The market is estimated to witness robust growth during the projected period. China emergency medical supplies industry was valued over USD 1.7 billion in 2019. Availability of advanced and sophisticated healthcare facilities will contribute to escalating demand for emergency medical supplies. High demand for emergency care due to the coronavirus infection will further influence the business growth in the country over forecast period.
Major market players in the market are Abbott Laboratories, Medtronic Plc., Stryker, GE Healthcare and B. Braun Melsungen AG among others. These market players are undertaking strategies such as technological advancements and inorganic growth strategies to strengthen market presence and company expansion. For instance, in April 2020, Stryker announced new product launch by broadening their emergency care portfolio. The launch of Emergency Relief Beds offering effective and efficient solutions during COVID-19 pandemic at low cost will strengthen its business position in the market.
Asia Pacific Emergency Medical Supplies Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments:
Market Share, By Type, 2015 to 2026, (USD Million)
- Infection Control Products
- Hand and Arm Protection Equipment
- Eye and Face Protection Equipment
- Head Protection Equipment
- Diagnostics and Monitoring Equipment
- ECG Monitors
- Blood Pressure Monitors
- Blood Glucose Monitors
- Blood Gas and Electrolyte Analyzers
- Pulse Oximetry
- Therapeutic Respiratory Equipment
- Cardiac Equipment
- Defibrillation Supplies
- Wound Care Supplies
- Dressings and Bandages
- Sutures and Staples
- Patient Handling Equipment
- Patient Lifting Equipment
- Medical Beds
- Wheelchairs and Scooters
Market Size, By Application, 2015 to 2026, (USD Million)
- Cardiac Care
- Respiratory Care
Market Value, By Distribution Channel, 2015 to 2026, (USD Million)
- Retail stores
Market Growth, By End-use, 2015 to 2026, (USD Million)
- Trauma Centers
- Ambulatory Surgical Centers
- Specialty Clinic
The above information is provided for the following region and countries:
- Asia Pacific
- South Korea