Emergency medical equipment market to reach $60b by 2033

Its expansion is attributed to the upsurge of chronic conditions globally.

The global emergency medical equipment market is projected to reach approximately $60b by 2033 at a compound annual growth rate of 6.5%, according to a Straits Research Private Limited - Garner Insights report.

The sector’s expansion is attributed to the upsurge of chronic conditions such as cardiovascular illnesses, cancer, and diabetes.

In addition, the rising incidence of accidents, natural catastrophes, and health emergencies is driving market growth.

“The market for these goods is driven by the imperative requirement for prompt and effective medical intervention to preserve lives and minimise morbidity,” the report said.