#Emergency Medical Transportation Market Forcast

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Impact of COVID-19 on Emergency Medical Transportation in Healthcare Industry

COVID-19 Impact on Emergency Medical Transportation in Healthcare Industry

The global outbreak of SARS-CoV-2 virus has led to a major public health problem due to the emergence of COVID-19 pandemic. The impact of pandemic on healthcare services has been straining and governments as well as players in healthcare industry are monitoring demand types and volumes to anticipate future resource needs. The pandemic has led to a rise in demand for emergency transportation for medical services, however, in numerous cases the demand has been affected due to public apprehension for fear of infection regarding involvement with the health system.

The demand for emergency transportation is especially driven by customized transport vehicles offering emergency care services to COVID-19 patients such as inclusion of emergency transport ventilators. Several notable emergency transport manufacturers and providers have integrated advanced technologies and equipment in order to cope with the mounting emergency services demand. As a response to COVID-19, numerous players in the market are getting involved in strategic agreements and collaborations with companies in all parts of the value chain.

For instance,

·         BS6-compliant Supro developed by Mahindra is equipped with beacon light, 75 percent frosted windows, and AIS 125- certified retro-reflective decals. Similarly, many companies are involved in introducing enhanced products along with simultaneously boosting production to capture larger market share.

COVID-19 pandemic has significantly driven the market for emergency medical transport across the world. The persistence of the COVID-19 for a prolonged period has driven the demand for emergency medical transportation.

Throughout the pandemic, the use of ambulances has risen. The demand for EMS (emergency medical service) such as medical transport for "time-sensitive diseases" such as heart conditions, strokes, and acute abdominal diseases among others has also increased. Increasing number of COVID-19 patients across globe has boosted the demand for emergency medical transportation and is anticipated to drive the market growth during the forecast period.

Increasing patient suffering from chronic diseases is a key factor driving the demand for emergency medical transportation services in the globe market, throughout the analysis period. Additionally, the growth in road accidents is also creating a need for ambulance or emergency services.

IMPACT ON DEMAND

The sudden rise of the COVID-19 pandemic enforced an optimistic impact on the global emergency medical transportation market growth in 2020. Rising demand for emergency medical transport for offering emergency care services for COVID-19 patients during the pandemic is driving the growth of the market.  During COVID-19 pandemic, key ambulance service providers and equipment & vehicle manufacturers have incorporated various advanced technologies as well as boosted the production to deal with the increasing demand for emergency medical transportation and equipment.

The unprecedented outbreak of COVID-19 has positively affected the demand for emergency medical transportation. In order to prevent the outbreak, NGOs, charity institutions, semi-governmental & governmental bodies are all focusing on deployment of emergency transportation. There are numerous startups that emerged to cope up with the high demand for emergency transportation.

For instance,

·         A startup called eSahai based in Hyderabad experienced heightened operations amid the pandemic outbreak with requests via mobile apps and call centers. The emerging services are especially in high demand for worst affected countries that lack necessary healthcare related resources.

The emergency services had an asset utilization issue where occupancy rate was very low. Most hospital emergency transportations are often stretched thin while private transports are under-utilized due to their lack of standards. The private transport owners’ lack of medical know-how has affected the quality of transport provided. The precaution and quality are especially relevant in cases of COVID-19 patients where the risk of infection is very high due to the contagious nature of the virus. The lower quality of the transportations has led to an increased and enhanced supply from budding startups and service businesses.

For instance,

·         StanPlus, an emergency transportation service served 10 times demand in 2021, where over 70% of the requests were COVID-19.

In response to the surge in demand for this equipment, vendors are raising funds and developing platforms and tools that meet the needs for COVID-19 surveillance and treatment. For instance,

·         The American Ambulance Association recently begged the Department of Health and Human Services for USD 2.6 billion in emergency funding. 

Emergency medical transportation such as ambulance providers are hostile to meet rising demand even though the cost has increased due to personal protective equipment, staff shortages, as well as decreased reimbursement.

IMPACT ON SUPPLY CHAIN

The government imposed total lockdown which led to supply chain disruptions. Consequently, the supply chain came to standstill due to the closure of borders. Even though the demand for ambulance and equipment use in emergency ambulance was high, the availability was affected due to disruptions in the supply chain, trade, and travel restrictions. Supply of raw material was also affected, due to which the production was restricted. Bottlenecks in the supply were foreseen due to limited production. Still, some companies managed to overcome the challenges and saw high growth.

The supply chain and logistic disruption of equipment use in emergency medical transportation and disruption in ambulance manufacturing has hampered the market for initial phase of pandemic however this equipment are considered under essential medical devices, due to which it’s supply is regularized during the pandemic situation.

Government has also taken initiatives to regularize the supply of equipment uses in ambulance and emergency medical vehicles. So there is limited effect of COVID-19 on supply chain on the emergency medical transportation market.

IMPACT ON PRICE

EMS transportation is incentivized by major insurances across globe. However, the cost of emergency medical transportation has increased during the pandemic due to requirement of additional personal protective equipment, staff shortages, increasing cleaning and sanitization cost, and decreased reimbursement.

Emergency medical transportation (EMS) and acute medical service that insurance companies include in plans are affected due to the pandemic. For senior population the acute medical service offered by EMS transportation is available for hospitalization. These factors have increased the cost of ambulatory services. COVID-19 has impacted the emergency medical services due to surge in prices for emergency medical services.

STRATEGIC DECISIONS BY SERVICE PROVIDER AND PRODUCT MANUFACTURER

As the reality of COVID-19 dawned upon the world, the service provider, manufacturers and production units of companies involved in emergency medical transportation formed strategies to deal with the limitation that occurred due to coronavirus and keep their business running.

For instance,

All providers had developed special procedures and safety instructions in preparation for COVID-19. Ground ambulance transport was the preferred mode of emergency medical transport in primary missions, whereas air ambulance transport was preferred for interfaculty emergency medical transport. 

Several manufacturers are following similar strategic patterns and procedures to gain an edge on decisions taken regarding production as well as sales.

Several manufacturers of emergency medical transportation market also coming forward to help each other in terms of finance as well as other market parameters to not only save the market scenario but to save themselves from the brutal grasp of the pandemic.

CONCLUSION

Pandemic has taken a toll on every aspect of life, including the global economy. With the significant downfalls in many sectors, a collaborative effort of government, industry players, and consumers can win the fight against COVID-19.

It still continues to inflict the world with appalling economic and social dilemmas, capable enough to leave severe backlash on the economy for the next several years. The first wave had already inflicted severe blows to the population as well as the economy. The currently experiencing second wave is expected to be more disastrous not only to the masses but also to food and beverages markets.

COVID-19 has impacted each sector with no exception. The emergency medical transportation market has been affected the same. With rising number of COVID-19 patients led to increased demand for emergency medical transportation. Global emergency medical transportation market is experiencing a boost due to the ongoing COVID-19 Pandemic due to the above given factors. Global emergency medical transportation market is experiencing a boost due to the ongoing COVID-19 pandemic.

Moreover, key companies and government bodies are exclusively concentrating on how they can make the effective and best contribution to control the spread of the virus and save lives. Key companies are dealing with the suddenly increasing demand for emergency medical transportation services by implementing various strategies to overcome current problem and to fulfil the rising demand for emergency medical transportation.

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Industrial Internet of Things (IIoT) Market,Industry Analysis , Trends & Forcaste 2017- 2025

This report aims to provide a comprehensive strategic analysis of the global industrial Internet of Things (IIoT) market along with revenue and growth forecasts for the period from 2017 to 2025. With fast changing technology use in industries and rising adoption of this technology in various applications, the IIoT market is expected to experience high growth in the coming years. Some of the factors supporting the growth of the market worldwide include the emergence of big data analytics, increased technological investments in developing regions such as Asia Pacific, high demand from the healthcare sector and advent of industry specific IoT platforms in developed regions such as North America and Europe. The impact of these and other macro-micro economic factors has been analyzed while developing the market growth models.

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This report on the global industrial Internet of things market provides a detailed analysis of industrial connected machines and devices used for different applications by end-users depending upon their needs. The report offers an in-depth analysis of the market drivers, restraints, and growth opportunities. Using these factors, the study identifies various trends prominent in the industry which are expected to influence the market growth during the forecast period from 2017 to 2025. It includes a comprehensive coverage of the underlying economic and technological factors influencing the IIoT market growth. It provides the competitive landscape of key players in the industrial Internet of Things market in order to highlight the competition scenario. The report also provides a detailed competitive analysis of the key players in the market and identifies various business strategies adopted by them. The study explains the penetration within each market segment across various geographies, and how these segments have accelerated the growth of the market as a whole.

Global Industrial Internet of Things Market: Market Segmentation

The global industrial Internet of Things market is analyzed by segmenting it on the basis of component, end-user and geography. Based on component, the market is classified into hardware, software and services. The hardware includes various sensors required for sensing data from connected devices, advanced robotic systems and connectivity devices. The software segment caters to IoT platforms provided by software providers which can be deployed in industries, embedded software required for the connected machines and analytics software for analyzing the fetched data. Based on end-user, the market is categorized into aviation, oil & gas, transportation, power generation & utility, manufacturing and healthcare (medical devices) and others (mining, agriculture etc.). Geographically, the global market for industrial Internet of things has been segmented into five regions: North America, Europe, Asia Pacific, Middle East & Africa and South America. The market size and forecast for each region has been provided for the period from 2015 to 2025 along with the CAGR (%) for the forecast period from 2017 to 2025. The study also includes market estimates for major countries/regions such as the U.S., Canada, the U.K., Germany, France, Japan, and India. The analysis by component, end-user and regions helps in evaluating the present scenario and growth prospects of the IIoT market over the forecast period from 2017 to 2025. Thus, the report provides in-depth cross-segment analysis of the market and classifies it into various industries, thereby providing valuable insights at the macro as well as micro levels.

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Global Industrial Internet of Things Market: Competitive Landscape

The report concludes company profiles of major players in the industrial internet of things market on the basis of various attributes, such as company overview, financial overview, business strategies, SWOT analysis and segment presence. Some of the major players in the global IIoT market with the significant developments are IBM Corporation, Intel Corporation, Schneider Electric SE, General Electric Company, Emerson Electric, ABB Ltd., Accenture PLC, Tech Mahindra Ltd., Softweb Solutions Inc. and Sasken Technologies Ltd., among others.

The global Industrial Internet of Things Market is segmented as follows:

Industrial internet of Things (IIoT) Market Analysis, by Component

Hardware

Software

Service

Sensors

Robotic Systems

Connectivity Devices

IoT Platforms

Embedded Software

Analytics

Industrial Internet of Things (IIoT) Market Analysis, by End-user

Aviation

Oil & Gas

Transportation

Power Generation & Utility

Manufacturing

Healthcare (Medical Devices)

Others (Mining, Agriculture etc.)

Industrial Internet of Things (IIoT) Market Analysis, by Region

North America

Europe

Asia-Pacific

Middle-East & Africa

South America

The U.S.

Canada

Rest of North America

Germany

France

The U.K.

Rest of Europe

Japan

China

India

Australia

Rest of Asia Pacific

A.E.

Saudi Arabia

South Africa

Rest of MEA

Brazil

Rest of South America

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