Published Date: 2020-06-15
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According to the Graphical Research new growth forecast report titled North America Emergency Medical Supplies Market size is set to exceed USD 22.0 billion by 2026. Significant increase in number of patients with chronic diseases such as cardiovascular diseases, diabetes, leukemia and arthritis among several others will contribute to the rising demand for emergency care services. Chronic conditions persist for long duration and can hinder individual health resulting into sudden health emergencies. According to the Centers for Diseases Control and Prevention, in the U.S., approximately 139 million emergency department visits were reported in 2017. With such high number of inpatient admissions, emergency medical supplies will foresee exponential demand in the upcoming period.
As per the first half of 2020, COVID-19 has affected over 1,240,000 people in the U.S. and Canada. With rise in hospital admissions due to coronavirus infection, supply for infection control equipment has escalated drastically. Hence, increasing adoption of advanced emergency care devices will augment the market growth. However, medical equipment industry is highly regulated by several authorities including the U.S. Food and Drug Administration that may impede the market growth rate during forecast period.
Infection control products segment accounted for more than 22.0% market share in 2019. Number of infectious diseases due influenza virus, Ebola virus, swine flu and coronavirus among others has affected millions of people worldwide. As per the estimated numbers by Center for Disease Control and Prevention, U.S. reported 448,000 million emergency department admissions in hospitals related to infectious and parasitic conditions, thereby stimulating the demand for infection control products in emergency departments in the country.
Cardiac care emergency medical supplies market was valued over USD 3.7 billion in 2019. Among the overall population with cardiac conditions, 52% patients received emergency medical services in 2017. Moreover, the annual cost for cardiovascular diseases in the U.S. accounted for USD 213.8 billion in 2015, according to the study by American College of Cardiology and is estimated to grow over period with increasing CVD conditions. Thus, aforementioned factors will substantially augment the market size in the forthcoming years.
E-commerce distribution channel segment held 27.3% market share during the analysis period owing the upsurge in number of E-commerce platforms. Growing internet penetration rate will further offer opportunities to the segmental growth. Moreover, growth of e-commerce platform has led to high customer satisfaction through ease-of-purchase and availability of wide range of products, thereby positively impacting the segment growth in the coming years.
Hospital segment was valued over 4.0 billion in 2019 and will witness lucrative growth during projected period. Significant segment growth is primarily attributed to increasing emergency department visits at considerable rate. Growing geriatric population has contributed to rising emergency care in hospitals. Furthermore, occurrence of disease outbreaks escalates supply of emergency medical equipment in hospitals. Owing to the availability of advanced healthcare facilities providing efficient treatment to patients with several diseases, hospitals will foresee momentous growth over forecast period.
The market is estimated to witness robust growth during the projected timeframe. U.S. emergency medical supplies industry was valued over 12 billion revenue in 2019. Government initiatives and increasing spending to accelerate the development and manufacturing process of products such as masks, gloves, ventilators and respiratory equipment during COVID-19 will stimulate the market growth in the country.
Major market players in the market are The 3M Company, Koninklijke Phillips N.V., Stryker, Medtronic plc. and Johnson & Johnson among other industry participants. These market players are undertaking strategies such as device advancement and inorganic growth strategies to strengthen market presence and company expansion. For instance, in September 2018, Royal Phillips launched its new portable ventilator platform named Triology Evo. The product will offer consistent monitoring and treatment therapy that will fortify company’s customer base.
North America 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)
Market Size, By Application, 2015 to 2026, (USD Million)
Market Value, By Distribution Channel, 2015 to 2026, (USD Million)
Market Growth, By End-use, 2015 to 2026, (USD Million)
The above information is provided for the following region and countries:
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