Revenue from the global emergency room equipment market is slated to expand at a compound annual growth rate (CAGR) of 6% from 2017 to 2026, according to a new report by MarketResearch.biz. Major factors driving market growth are the increasing demand for advanced equipment in emergency care settings, as well as rising government investments in healthcare infrastructure improvements.
Technological advancements in emergency room equipment, such as the development of portable and wireless CT scanners, are also expected to drive growth of the global emergency room equipment market over the forecast period. Impeding growth, however, are refurbished devices on loan/lease, MarketResearch.biz officials say. After all, refurbished equipment offered on loan or lease reduces the initial investment and addresses budget restraints related to setting up emergency services in healthcare facilities.
Conversely, the high power consumption of emergency room equipment, as well as the requirement of regular maintenance, raises the total costs associated with such equipment. Also, the development of equipment with advanced technologies is expected to create significant opportunities for players in the global emergency room equipment market.
Moreover, the global emergency room report has been segmented by product type—such as patient monitoring, medical imaging, cardiac equipment, vascular equipment, and trauma equipment—and region.
By product type, the cardiac equipment segment is estimated to register a CAGR of more than 6.3%, thereby accounting for the highest revenue share among the product type segments. Further, by application, the sudden illness segment is estimated to account for highest revenue share among the application segments, registering a CAGR of more than 6% over the forecast period.
From a regional perspective, the North American market accounted for the highest revenue share in the global emergency room equipment market in 2016, and is expected to record the highest CAGR of more than 6.9% between 2017 and 2026.