Wild footage has captured the moment a man with a bleeding arm ran for his life, as a gunman remains on the run in Melbourne’s east.

Emergency services were called to the intersection of Station and High Streets in Bayswater about 4pm on Saturday, where they found the man suffering from a suspected gunshot wound.

Police believe two men had been arguing in a nearby supermarket car park before the suspected shooting.

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The victim was rushed to hospital with injuries.

A black BMW with no number plates was seen fleeing the scene.

Police believe two men had been arguing in a nearby supermarket car park before the suspected shooting.Police believe two men had been arguing in a nearby supermarket car park before the suspected shooting. Credit: 7NEWS

A crime scene has been established.

No arrests have been made and investigations are continuing.

Anyone with any information has been urged to come forward.

Emergency services found a man with a suspected gunshot wound about 4pm on Saturday.Emergency services found a man with a suspected gunshot wound about 4pm on Saturday. Credit: 7NEWS

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