Ambulance Equipment Market Size, Share, Global Market Research and Industry Forecast Report 2025 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Ambulance Equipment Market


The global ambulance equipment market size was valued at USD 4.03 billion in 2018 and is expected to grow at a CAGR of 3.8% over the forecast period. The demand for market is on a rise owing to the prevalence of cardiovascular diseases across the globe, increasing number of road accidents, rising geriatric population, and increasing medical tourism.

The ambulance equipment are majorly used during medical emergencies and it is one of the essential requirements in the ambulance service. Road accidents are rapidly increasing and such cases require immediate medical attention & ambulance services. According to a report published by the Association for Safe International Road Travel (ASIRT) in 2018, approximately 1.3 million people die in road crashes every year and additionally 20-50 million people get injured or disabled. Road traffic accidents account for the 9th leading cause of deaths worldwide.

ASIRT also reported that in the U.S., over 37,000 people die in road accidents every year and an additional 2.35 million get injured or disabled. As per the report published in 2017 by the Ministry of Road Transport & Highways Transport Research Wing, Government of India, road accidents have increased by 2.5%, and deaths from road accidents have increased by 4.6% from 2014 to 2015. As per a report published by the Ministry of Road Transport and Highways in 2015, the highest number of road accidents were recorded in Tamil Nadu (69,059), Maharashtra (63,805), and Madhya Pradesh (54,947). Road accidents victims need immediate medical attention and necessary ambulance equipment and services to transport the casualties to hospitals. Thus, rising incidence of road accident is likely to drive demand for ambulance equipment, thereby propelling the market growth.

Medical tourism is also rising due to the developments in healthcare infrastructure and advanced reimbursement policies. For instance, as per the report Export Health Services published by the Directorate-General of Commercial Intelligence and Statistics of India in 2017, India had 58,300 medical tourists on medical visas in 2015 to 2016. Moreover, according to the report published by the Ctrip in 2017, medical tourism in China had witnessed growth of 500.0% with a total of 500,000 outbound medical travels in 2016.

Medical tourism is usually opted by people in developed nations, if cost of treatment is comparatively higher in their home countries. According to the Patients Beyond Border guidebook in 2019, taking the U.S. healthcare cost as a benchmark, average saving on healthcare in the most-traveled destinations are 20-30% in Brazil, 45-65% in Costa Rica, 65-90% in India, 65-80% in Malaysia, 40-65% in Mexico, 25-40% in Singapore, 30-45% in South Korea, 40-55% in Taiwan, 50-75% in Thailand, and 50-65% in Turkey. It also reported that, in 2018, the top medical tourism destinations are India, Costa Rica, Turkey, Israel, Singapore, Malaysia, Taiwan, Mexico, South Korea, Thailand, and the U.S.

Major factors prompting adoption of medical tourism are less expenditure & more savings, lesser waiting period, better quality, world-class facilities, access to latest technology, longer hospital stay, ease of international travel combined with low airfares, and travel opportunities. This may surge the demand for air and ground ambulance services. The airway management equipment,blood & hemorrhage control equipment, and diagnostic & infection control equipment are some of the essential requirements in the ambulance services. These equipment provides immediate medical attention to the patients and allows safe transfer of patients to the treatment venue. Thus rise in medical tourism is expected to boost the demand for ambulance equipment, thereby propelling the ambulance equipment market growth over the forecast period.

Equipment Insights

On the basis of equipment, the market is categorized into transportation equipment, burn care equipment, diagnostic & infection control equipment, blood & hemorrhage control equipment, and others. The others segment of the market held the largest share in 2018. The others segment include defibrillators, bandages, obstetrical kit, glucometer, injury prevention equipment, and immobilization devices. The rising cases of accidents and cardiac arrest across the globe are the major driving factors for the segment growth. In such cases, immediate medical attention such as CPR and defibrillation is one of the essential requirements. For instance, as per the report published by the American Heart Association in 2018, if CPR & defibrillation is not provided to the patient suffering from sudden cardiac arrest, the survival rate falls from 7.0% to 10.0% for every minute of delay. Therefore, such factors are expected to boost the segment growth over the forecast period.

The burn care equipment segment of the market is anticipated to witness fastest growth rate over the forecast period owing to the rising cases of burns across the globe. For instance, as per the World Health Organization (WHO) in 2018, in India around 1,000,000 people are severely and moderately burnt every year. It also reported that burns are the second most common injury in rural Nepal and around 5.0% of disability cases comes from the burn injury. In burn injury cases, immediate medical attention is needed to be provided to the victims.

Transportation Mode Insights

The ground ambulance segment of the market held the largest share in 2018. Ground ambulance includes van or pickup trucks, car/SUV, motorcycle, bicycle, all-terrain vehicles, golf cart, and bus. In the U.S., there are four types of ambulances-Type I, Type II, Type III, and Type IV. Type I includes vehicles with heavy truck chassis, which are used for rescue services and Advanced Life Support (ALS). Type II are vans or pickup trucks that are used to transfer patients for Basic Life Support (BLS). Type III are vehicles based on van-based chassis that function similarly to Type I ambulances. Type IV are for ad hoc patient transfer using small utility vehicles. The transportation equipment, burn care equipment, and blood & hemorrhage control equipment are some of the essential equipment required in ground ambulance services to deal with the emergency cases. The increasing cases of road accidents and rising incidence of cardiovascular diseases across the globe is anticipated to propel the demand for ground ambulance which in turn, the demand for ambulance equipment is anticipated to rise over the forecast period.

The air ambulance segment is expected to witness fastest growth rate over the forecast period.Air ambulance services use airplanes, fixed-wing aircrafts, or helicopters for patient transportation from the site of accident to the healthcare facilities. These services are generally used to evacuate and rescue critically ill or injured patient and they are lesser used for patient transfer from hospital or healthcare facilities. The burn care equipment and diagnostic and infection control equipment are majorly used in air ambulance services. Air ambulance services are faster than ground ambulance and water ambulance services and can quickly reach remote areas where ground and water ambulance services are unable to reach. The major pitfall associated with air ambulance services is its high operational cost.

Regional Insights of Ambulance Equipment Market

North America held the largest share of market in 2018. The largest share held by North America ambulance equipment market can be attributed to factors such as presence of several key market players in this region, growing demand for high-quality healthcare services, well-established healthcare infrastructure, and favorable reimbursement policies & regulatory reforms in the healthcare sector. The emphasis of the U.S. healthcare system on quality of care and value-based services has led to a positive impact on the ambulance equipment market.
Asia Pacific is expected to witness the fastest growth over the forecast period. Presence of huge opportunities for market players, improvements in healthcare facilities, and increase in number of road accidents are some of the factors likely to drive the growth of Asia Pacific ambulance equipment market. As per the report on the Road Safety in the South-East Asia region in 2015, published by WHO, every year, approximately 316,000 people die due to road traffic injuries in WHO™s South-East Asia Region, accounting for 23.0% of global road traffic deaths.

Market Share Insights of Ambulance Equipment Market

Prominent market players in the market includes Emergency Medical Products, Inc., Emergency Medical International, Persys Medical, Ambu A/S, Drägerwerk AG & CO. KGaA, and Medtronic PLC.Key players are involved in adopting strategies such as merger & acquisitions, collaborations, and partnerships to strengthen their position in the ambulance equipment market.

For instance, in June 2018, Medtronic PLC collaborated with the Red Cross of Mexico with an aim to provide better response to the emergency calls in the border region between the U.S. and Mexico. Such initiative may increase the geographical reach of the company. In May 2018, Persys Medical acquired MAS Med Global to expand its hemorrhage control product portfolio. This may increase the customer base of the company.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Ambulance Equipment Market Research Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the latest trends and opportunities in each of the sub-segments from 2015 to 2026. For the purpose of this study, this market research report has segmented ambulance equipment market on the basis of equipment, transportation mode and region:

Equipment Outlook (Revenue, USD Million; 2019 - 2030)

  
Transportation Equipment
  
Burn Care Equipment
  
Diagnostic and Infection Control Equipment
  
Blood and Hemorrhage Control Equipment
  
Others

Transportation Mode Outlook (Revenue, USD Million; 2019 - 2030)

  
Ground Ambulance
  
Air Ambulance
  
Water Ambulance