June 04, 2020
As per the report titled ‘Emergency Medical Supplies Market Size By Type, By Application, By Distribution Channel, By End-use, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report LLC, global emergency medical supplies market is expected to see tremendous growth during 2020-2026.
Outbreak of COVID-19 pandemic, increasing geriatric population who are at a higher risk of acquiring various diseases, and rising cases of chronic respiratory diseases are key factors driving the growth of global emergency medical supplies market.
The coronavirus spread has accelerated the demand for infection control products which comprise of decontaminants, hand washing products as well as anti-microbial treated, disposable, and fluid-proof supplies designed to stop cross-contamination among staff and patients. Moreover, the pandemic has led to increased demand for therapeutic respiratory devices, such as ventilators, as the COVID-19 infection generally affects the lower respiratory tract, thereby boosting the industry growth.
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Based on the type, therapeutic respiratory devices segment garnered 13% revenue share in 2019 and will continue to a decent growth trend through 2026, due to COVID-19 pandemic, mounting number of chronic respiratory disorders, and increasing elderly populace suffering from respiratory diseases.
Elaborating on the application scope, respiratory care segment accounted for 25% market share in 2019. Growing awareness regarding impact of cardiovascular diseases, obesity, hypertension, and high blood pressure on quality of life will stimulate the adoption of emergency medical supplies for respiratory care.
Speaking of the end-use spectrum, market size from specialty clinics reached a valuation of USD 4.5 billion in 2019 and is expected to gain decent traction in the forthcoming years. Rising cases of skin infection, dental ailments and other chronic diseases is supporting the growth of specialty clinics segment.
From a regional perspective, emergency medical supplies market in Latin America held 5.6% revenue share in 2019, owing to sudden spread of COVID-19 infection throughout the region. Increasing healthcare expenditure and health awareness initiatives by government will foster the regional market growth over the forecast timeline.
Major players operating in global emergency medical supplies market are Medtronic plc, Stryker, Asahi Kasei Corporation, GE Healthcare, Koninklijke Phillips N.V., Smith & Nephew, Smiths Medical, Cardinal Health, Becton & Dickinson Company, B. Braun Melsungen AG, Johnson & Johnson, and Abbott Laboratories among others.