Emergency medical services, sometimes called ambulances or paramedics, treat severe diseases and injuries with immediate pre-hospital stabilization and transport to suitable care facilities. Cardiac arrests, vehicle accidents, and other occurrences frequently require emergency services. In addition, examples of emergency medical services include acute medical care, patient transportation, and ambulatory services.
Numerous technologies are utilized in EMS to provide immediate audible alerts to ambulance drivers if their driving becomes risky. For instance, the Jersey City Medical Center uses LUCAS technology. The LUCAS Chest Compression System offers consistent, efficient, and uninterrupted chest compressions. This permits rescuers to concentrate on other life-saving activities. It will also allow rescuers to sit in the ambulance's rear during the journey to the hospital, ensuring the crew's safety. Similarly, Fleet Eyes is a real-time web-based technology that permits tracking the whereabouts of EMS vehicles. The system displays the vehicle's location, speed, travel direction, and status. Such EMS technologies utilized for patients drive the expansion of the EMS market.
Emerging markets are predicted to provide future growth possibilities for global players operating in the EMS market due to technology advancements in EMS, the expanding senior population requiring emergency services, and government initiatives to conduct EMS-focused research studies. Competitors in the EMS sector provide excellent quality and well-regulated patient services. In addition, several industry leaders are employing mergers and acquisitions tactics to grow their product portfolios by launching new items and partnering with more minor market participants. For instance, in July 2020, Sarnova bought and simultaneously merged Digitech and the R1 RCM Inc. ("R1") EMS business (formerly ADPI/Intermedix) in cooperation with Pamlico Capital to establish itself as the premier provider of revenue cycle management (RCM) solutions for EMS professionals.
Americas is the most significant shareholder in the global emergency medical services market and is anticipated to grow at a CAGR of 6.60% during the forecast period. The most significant market share in the Americas is attributable to the prevalence of cardiovascular illness, the increase in accidents, the region's well-developed healthcare and hospital sector, and its well-established medical emergency service. According to the CDC report, there were approximately 138.97 million visits to the emergency room in 2017, of which 14.5% were made by ambulance. Additionally, the increasing senior population contributes to the growth of the emergency medical care industry in the Americas. High reimbursement coverage and the presence of qualified specialists in the region are also projected to contribute to market expansion. As a result, it is anticipated that the drivers, as mentioned earlier, will stimulate market growth for emergency medical services in the Americas over the forecast period.
Europe is estimated to grow at a CAGR of 6.92% over the forecast period. Due to many accidents and a well-developed healthcare industry, Europe is expected to grow significantly over the forecast period. The increasing elderly population in the region is predicted to contribute to the expansion of the market. In addition, according to the United Kingdom's National Health Service (NHS), around 25 million individuals attended emergency departments in 2019–20, a 1% increase from 2018–19 and a 17% increase from 2010–11. This increase in emergency visits is predicted to stimulate market expansion further. Due to linguistic and cultural barriers, the EMS system is not standardized throughout the region. The WHO has been concentrating on building the "European Inter-Ministerial Panel on Emergency Health Care," which can meet regularly and collaborate on exchanging and evaluating data on the structure, function, and efficacy of EMS systems in all countries. This is expected to create more growth prospects for the market.
The key players in the global emergency medical services market are GE Healthcare, Johnson & Johnson Services Inc., Koninklijke Philips NV, Asahi Kasei, Stryker, Medtronic plc, Becton, Dickinson and Company, Cardinal Health, Smiths Medical, Smith & Nephew, 3M Company, R. Bard, and Braun.