August 03, 2022 08:40 ET | Source: CMI CMI

Seattle, Aug. 03, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global emergency medical equipment market is estimated to be valued at US$ 23,820.4 million in 2022 and is expected to exhibit a CAGR of 6.3% during the forecast period (2022-2030).

Key Trends and Analysis of the Global Emergency Medical Equipment Market:

Major players operating in market are focusing on adopting strategies such as product approvals, which is expected to drive the market growth over the forecast period. For instance, in June 2021,Safeguard Medical, a company developing and manufacturing biological vaccine products, announced that its recombinant novel coronavirus vaccine (Adenovirus Type 5 Vector) (trade name: Convidecia) was approved by the Ministry of Health Malaysia and the Indonesian National Agency of Drug and Food Control as a heterologous booster.

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Global emergency medical equipment market is expected to exhibit a CAGR of 6.3% during the forecast period due to geriatric population and rising prevalence of chronic diseases such as cardiovascular disorders, diabetes, and infectious diseases. For instance, in November 2021, according to the World Health Organization, diabetes was the ninth leading cause of death with an estimation of 1.5 million deaths directly caused by diabetes further leading to cardiovascular disorder in 2019 globally.

North America is expected to hold a dominant position in the global emergency medical equipment market, owing to increasing government support and funding for emergency medical services. For instance, in August 2021, The U.S. Department of Health and Human Services (HHS) provided US$8.5 billion in American Rescue Plan funding to compensate health care providers who serve rural Medicaid, Children’s Health Insurance Plan (CHIP), Medicare patients for lost revenue and increased expenses associated with COVID-19.

On the basis of application, Cancer Care segment is expected to hold a dominant position over the forecast period, owing to increasing number of cardiac disorders worldwide. For instance, a report was out in 2021, by American Cancer Society that estimated 1.9 million new cancer cases and 608,570 cancer deaths in the U.S.

Key players operating in the global emergency medical equipment market include 3M, Abbott, Asahi Kasei Corporation, B. Braun Medical, BD, Cardinal Health, GE Healthcare, Henry Schein, Johnson & Johnson, Philips Healthcare, Smith & Nephew, and Stryker Corporation

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