Emergency Medical Equipment Market to Surpass USD 29.5 Billion by 2026

The global emergency medical equipment Market was valued at USD 17.8 billion in 2017, and is projected to exhibit a CAGR of 6.1 percent from 2018 – 2026. Government plays a crucial role in the provision of emergency medical services. Therefore, increasing number of government Emergency Medical Service (EMS) programs are considered to be the major factor driving growth of the global emergency medical equipment market. For instance, programs such as Emergency Medical Services for Children, the Office of EMS, and the Division of Injury Response coordinate their efforts for emergency services through regular communications, collaboration, and planning on numerous projects. Moreover, increased government funding for the management of natural disaster is expected to increase demand for advanced emergency medical services eventually driving the emergency medical equipment market revenue. For instance, in 2017, the US Congress approved a two-year budget that included USUSD  130 billion for disaster management.

Federal Emergency Management Agency (FEMA) is the primary federal agency for funding assistance after a disaster in the US. Manufacturers in emergency medical equipment market are focused on strategic merger and acquisition in order to strengthen their leadership position in the market. For instance, in June 2018, Royal Philips announced the acquisition of Remote Diagnostic Technologies (RDT), a UK-based leading innovator of advanced solutions for the pre-hospital market providing monitoring, cardiac therapy and data management. Industry players are also collaborating with government organization to deliver best emergency care services. For instance, in 2017, Tactical Medical Solutions and the American Red Cross entered into a brand licensing partnership for the SOF Tactical Tourniquet Wide to deliver a superior tourniquet on the market. – Coherent Market Insights