Global Hospital Emergency Services Market, By Service Type (Ambulance Services, Remote Access Services, Others), Application (Cardiac Care, Trauma Injuries, Respiratory Care), End User (Hospitals and Trauma Centers, Ambulatory Surgical Centers) – Industry Trends and Forecast to 2029
Market Analysis and Size
In recent years, hospital emergency services have become a significant need across health systems due to the rise in accidents. Approximately 1.3 million people are estimated to die in road crashes every year according to the Association for Safe International Road Travel (ASIRT).
- The hospital emergency services include the services that play a crucial role during an emergency health situation. Data Bridge Market Research analyses that the hospital emergency services market is expected to grow at a CAGR of 4.9% during the forecast period of 2022 to 2029.
Market Definition
The hospital emergency services are considered one of the most necessary services as they have the power to save a life. Hospital emergency services, also known as ambulatory services, refer to the systems that provide medical care in emergency. The major focus of these services is injusry and emergency illnesses, including cardiac arrest and stroke.
Hospital Emergency Services Market Dynamics
Drivers
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Road Traffic Accidents
The increase in the number of road traffic accidents across the globe acts as one of the major factors driving the growth of hospital emergency services market. Road traffic accidents are known to be the 9th leading cause of death worldwide.
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Prevalence of Cardiovascular Diseases (CVDs)
The rise in the cardiovascular diseases (CVDs), including congestive heart failure, coronary artery disease, cardiac arrest, and stroke, among others accelerate the market growth.
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Geriatric Population
The presence of a large population pool over 60 years will assist in the expansion of the hospital emergency services market as they have a lower immunity level. The geriatric population is prone to cardiac problems, spinal injuries, neurological diseases and cancer.
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Medical Tourism
Medical tourism is growing because of the developments in healthcare infrastructure and advanced reimbursement policies.
Additionally, advancements in healthcare infrastructure, high demand for expanded care delivery and surge in healthcare expenditure positively affect the hospital emergency services market.
Opportunities
Furthermore, advancements in software technology extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, technological advancements in communication infrastructure will further expand the hospital emergency services market’s growth rate in the future.
Restraints/Challenges
On the other hand, high installation and maintenance costs for SMEs and increased concerns regarding violation of privacy are expected to obstruct market growth. Also, hardware infrastructure prone to a single point of failure is projected to challenge the hospital emergency services market in the forecast period of 2022-2029.
This hospital emergency services market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the hospital emergency services market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Covid-19 Impact on Hospital Emergency Services Market
The COVID-19 had an impact on the hospital emergency services. An increase in the number of patient calls for help was witnessed during the pandemic. The calls for help also increased from the rural area in the pandemic period as rural areas also suffered highly during this period. Thus, hospital emergency services suffered setbacks in the initial and subsequent waves.
Recent Development
- Technimount EMS launched Xtension ProTM Assistant – LP, a unique and innovative mounting system in February’2022. This mounting system is beneficial for managing multiple medical devices on cots enhancing air critical care transport operations.
- Demers Ambulances USA Inc., introduced a new ambulance model from the CCL 150 product line of Crestline brand ambulances in June’2020. The ambulance aims to offer a sigh of relief for U.S.-based EMS organizations as these are safe and durable ambulances at an affordable price.
Global Hospital Emergency Services Market Scope and Market Size
The hospital emergency services market is segmented on the basis of service type, application and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Service Type
- Ambulance Services
- Remote Access Services
- Other
On the basis of service type, the hospital emergency services market is segmented into ambulance services, remote access services and other.
Application
- Cardiac Care
- Trauma Injuries
- Respiratory Care
On the basis of application, the hospital emergency services market is segmented into cardiac care, trauma injuries, and respiratory care.
End User
- Hospitals and Trauma Centers
- Ambulatory Surgical Centers
On the basis of application, the hospital emergency services market is segmented into hospitals and trauma centers and ambulatory surgical centers.
Hospital Emergency Services Market Regional Analysis/Insights
The hospital emergency services market is analysed and market size insights and trends are provided by country, service type, application and end user as referenced above.
The countries covered in the hospital emergency services market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the hospital emergency services market because of the growing demand for high-quality healthcare services and well-established healthcare infrastructure within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the improvements in healthcare facilities, and an increase in the number of road accidents in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The hospital emergency services market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for hospital emergency services market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the hospital emergency services market. The data is available for historic period 2010-2020.
Competitive Landscape and Hospital Emergency Services Market Share Analysis
The hospital emergency services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to hospital emergency services market.
Some of the major players operating in the hospital emergency services market are Medtronic, General Electric, Medline Industries, Inc., Boston Scientific Corporation, Terumo Corporation, Johnson & Johnson Private Limited, 3M, Koninklijke Philips N.V., Smith+Nephew, BD., Diagmed Healthcare, ConvaTec Inc., Baxter, B. Braun Melsungen AG, Merit Medical Systems., Danaher, DEVEX., Micro-Star INT'L CO., LTD, ARGON MEDICAL, Stryker and Merit Medical Systems among others.
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