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Vehicles catering to emergency medical services (EMS) are finding widespread adoption across the global healthcare sector. Innovations and technological advancements are redefining the paradigms of EMS vehicles deployment for critical care functions. A new trend governing the global EMS market is the introduction of bike ambulances – basically two-wheeler EMS vehicles that ply on roads with congested traffic. Especially in countries like India, the increased vehicle population on roads warrants the use of two-wheeled EMS vehicles to address emergency medical issues with speed and efficiency.
Another trend in the global market for EMS vehicles pertains to the launch of driverless automobiles. The global automotive industry has witnessed the introduction of autonomous vehicles and this concept has proliferated the EMS vehicles market as well. The increasing demand for EMS vehicles across various regional healthcare markets – in both developed as well as emerging economies – has created the need to deploy autonomous EMS vehicles in the healthcare industry across the globe. By going driverless, EMS vehicles can free up the paramedical staff to focus on administering critical care without loss of time, thereby increasing the chances of survival of victims and patients. The use of drones to transport medical equipment is also seen as a revolution in the global EMS vehicles market, thereby boosting the growth in adoption and subsequently revenue share of EMS vehicles in the global market.
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Rising Investments in Global Emergency Medical Services to Boost Revenue Growth of the EMS Vehicles Market
Across the world, healthcare and medical regulatory bodies are beefing up investments in structured emergency medical services to provide prompt medical aid to patients. With patient convenience and speedy and timely services being the paramount objective behind emergency medical services, healthcare organizations are deploying the necessary services and tools to cater to the needs of patients more efficiently. One of the critical components of emergency medical services are EMS vehicles, which are finding increasing use across hospitals and medical facilities worldwide. Institutions like the World Bank are extending the necessary financial support for emergency medical services across certain regions. This growing leverage on emergency medical services to facilitate critical care is driving revenue growth of the global EMS vehicles market.
Pricing Analysis of EMS Vehicles Reveals the Influence of Cost, Customization, and Compliance over Vehicle Pricing
While EMS vehicles are being manufactured in large numbers to cater to the rising demands from the global healthcare industry, the pricing structure of EMS vehicles is driven by several key factors. Cost is paramount here – prices of various components and raw materials used in the automotive sector are increasing by the day. Producer price indices for core raw materials such as plastic, aluminum, rolled steel, and resins have skyrocketed in the last 10 years, and this is anticipated to have a cascading effect on the pricing structure of EMS vehicles.
Then again, the deployment of advanced technology in the automotive sector potentially impacts the pricing structure of automobiles and vehicles such as EMS vehicles. State-of-the-art medical equipment installed in EMS vehicles boosts up costs and with healthcare institutions focusing on customization of their EMS vehicles, the price per EMS vehicle is likely to remain Northward in the coming years.
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Regulatory compliance is yet another price driver. Manufacturers of EMS vehicles are mandated to cater to the norms and standards prescribed by national traffic authorities as well as the international acts governing motor vehicle safety. These stringent regulations force manufacturers to keep the pricing structure of EMS vehicles at a high market level.
Growing Instances of Strokes and Ever-increasing Road Accidents to Drive EMS Vehicles Revenue Growth Across Key Regional Pockets
Over the years, the instances of strokes and cardiovascular emergencies have increased in developed economies such as North America and Japan. This presents potential growth opportunities to manufacturers of EMS vehicles in these regions. The deployment of EMS vehicles and subsequent provision of prompt medical aid has successfully reduced the instances of strokes and other emergency medical issues. This has not only augmented the growth trajectory of the EMS vehicles market in North America, but has also boosted manufacturer initiatives in facilitating innovations in the technology underpinning the production of EMS vehicles.
The growing number of road accidents across the world is another factor driving the increased plying of EMS vehicles on roads. Governments across developing regions such as Asia Pacific are enhancing the local emergency medical services scenario and this has led to an increasing demand for EMS vehicles across several countries in the APAC region. Also, a rapidly expanding geriatric population across the globe is leading to rising incidence of cardiovascular diseases and other age-related disorders. EMS vehicles find increasing adoption to address the medical needs of the elderly population – one of the key demographic indicators of growth in revenue of the global market for EMS vehicles.
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