Pune, Maharashtra, October 22 2020 (Wiredrelease) Graphical Research –:An elevating patient pool in the economies of North America, driven by a large geriatric population may fuel the growth of North America emergency medical supplies market over the time period of 2020-2026. The growing prevalence of diseases has irrefutably called in for the need for medical supplies. Not to mention, the recent COVID-19 pandemic explosion has also brought about a decent surge in the product demand, which will enable the market to cross USD 22 billion by the end of 2026.
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Speaking of COVID-19, reports suggest that by the first half of 2020, the pandemic had affected over more than 1 million people in the United States and Canada, wherein the hospital admissions dramatically rose, thus enunciating the need for supply for infection control equipment and other emergency medical supplies. Enumerated below are some of the chief trends, like the ones mentioned above, that are expected to propel the market growth in the years to follow:
Rising demand for infection control products
Considering the product segmentation across North America emergency medical supplies industry, it is observed that the demand for infection control products has been massively rising on the grounds of prevalence of infection diseases such as swine flu, coronavirus, Ebola, and others. In this regard, the segment had acquired an overall business share of more than 22 per cent in 2018 and is projected to progress at an appreciable pace in the upcoming years.
Not to forget, increasing hospital admissions has also been favoring the sales of infection control products across the region. As per the estimates put forth by CDC, the United States observed nearly 448,000 million emergency department admissions in hospitals due to elevating infectious and parasitic conditions.
Expanding reach of cardiac care emergency medical supplies
Cardiac arrest has been considered to be one of the leading causes of deaths across various economies of North America. In this context, the need for cardiac care emergency medical supplies is anticipated to rise prolifically over the forthcoming years. As per numerous reports, 52 per cent patients, amongst the overall population with prevailing cardiac conditions, received emergency medical services in 2017, a count which is expected to grow in the upcoming years owing to the presence of highly advanced medical supplies and equipment.
Reliable estimates claim that the cardiac care segment registered a valuation of USD 3.7 billion in 2019.
Huge product sales across retail stores
Retail stores have always stood as a one stop destination for all medical needs. It was reported that the segment held a revenue share of more than 25 per cent in 2019 and is likely to grow at similar pace by the end of 2026, subject to the umpteen benefits the delivery platform has been offering. Factors like easy availability of medical supplies and high convenience at nearby locations would add on to the expanding emergency medical supplies sales across the retail stores.
Overwhelming product demand from trauma centers
North America emergency medical supplies market, in terms of end-use spectrum, is potentially fragmented into hospitals, AMCs, trauma centers, specialty clinics, and others. Of these, trauma centers segment is estimated to observe a staggering growth over the upcoming years attributing to the fact that these workplaces are driven by the presence of skilled workforce and equipped with highly advanced medical facilities.
Also, increasing healthcare expenditure by various state and central governments would further accentuate the product demand across the segment, which according to reports seized an overall market share of 24.2 per cent in 2019.
Strategic investments by industry majors across the U.S
Regionally, the United States is poised to emerge as an investment hotbed for North America emergency medical supplies market. The growth may be credited to the mounting number of initiatives being undertaken by government officials or industry players to accelerate the development and production process of products like gloves, masks, ventilators, etc.
Citing an example for strategic measures being taken by industry majors across the realm, Stryker in April 2019, announced acquiring Wright Medical Group. As per news reports, the pact was aimed at empowering the former company’s trauma and extremities business also bolstering the U.S emergency medical supplies market. Estimates claim that the emergency medical supplies industry across the United States registered a remuneration of USD 12 billion in 2019.
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