The Emergency Medical Product Market is expected to reach USD 25.56 Billion by 2022 from USD 19.01 Million in 2017, at a CAGR of 6.1%. Factors driving the growth of this market include high demand for emergency care, increasing incidence of trauma injuries, and growing investments by government bodies on healthcare infrastructure development.
The EMS Products Market is consolidated in nature due to the presence of a large number of players. The key players in the market are Stryker (US), Medtronic (Ireland), Asahi Kasei (Japan), Cardinal Health (US), Philips (Netherlands), GE Healthcare (US), Smith & Nephew (UK), 3M (US), Smiths Medical (UK), Becton, Dickinson (US), Johnson & Johnson (US), B. Braun (US), and C.R. Bard (US).
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The key strategies followed by most companies in the Emergency Medical Product Market are agreements, expansions, and product launches. These strategies accounted for the largest share of the overall growth strategies mapped from 2015 to 2017. Some of the leading players who adopted these strategies include Becton, Dickinson (US), Medtronic (Ireland), and 3M (US).
Cardinal Health held the largest share of the Emergency Medical Product Market in 2016. Cardinal Health develops and manufactures medical and surgical products and provides customized healthcare solutions to hospitals, ASCs, clinical laboratories, pharmacies, and physician offices. The company offers a broad range of medical products, such as infection control supplies; patient care consumables; wound management products; and anesthesia supplies. The company has mainly focused on acquisition to increase its share in this market. For instance, in March 2015, Cardinal Health acquired Johnson & Johnsons (US) Cordis business.
Medtronic, which held the second-largest share in the Emergency Medical Product Market in 2016, is one of the leading providers of innovative and advanced medical technologies and solutions across the globe. Medtronic is notable for its 2015 acquisition of Covidien (Ireland), which greatly expanded the company’s product offerings. A focus on product development and acquisition, along with its strong geographic presence, has helped maintain its leading position in the market. It has 32 sales organizations and 13 production sites in North America, Europe, and Australia.
Johnson & Johnson held the third-largest share in the Emergency Medical Product Market in 2016. Its subsidiary, Ethicon, offers various solutions for healthcare professionals and patients to provide better treatments and optimize patient outcomes. The company offers a wide range of products for wound closure, wound management, aesthetic medicine, women’s health, urology, and general surgery. The company focuses on expanding its geographical presence to enhance its customer base, especially in emerging countries.
Stryker held the fourth position in the EMS market. It offers a wide range of products, including temperature management products, emergency and transport stretchers, personal protection equipment medical beds, and other emergency equipment. Stryker focuses on acquisition and collaboration to expand its business presence and product portfolio.
GE Healthcare held the fifth position in the EMS market. GE Healthcare has focused on inorganic strategies for growth, as well as product development. The company is engaged in providing medical technologies and professional consulting solutions that help in improving patient care. Apart from this, its wide geographical presence has helped strengthen its customer base.
Related Reports:
Emergency Medical Product Market by Type (Laryngoscope, ET Tube, ECG, Pulse Oximeter, EEG, ICP, TCD, Temperature and Pre-Natal Monitors, Disinfectant, Dressing, Suture, Staple, Wheelchair, Beds), Application (Cardiac, Trauma), End User - Global Forecast to 2022
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