Ambulance Services Market

SKU: DMHOS1001 | Last Updated On: Oct 06 2022 | Available Formats

>Ambulance Services Market Expected to reach a high CAGR of 4.1% By 2029:

Ambulance Services Market Report is segmented By Transport Vehicle Segment (Ground, Air, Water), By Emergency Services (Emergency, Non-Emergency), By Equipment (Advance Life Support (ALS), Basic Life Support (BLS) ), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029.

Ambulance Services Market is expected to grow at a CAGR of 4.1% during the forecasting period (2022-2029). An ambulance is a medically equipped vehicle that can transports patients to treatment centers such as hospitals or in some cases provide out-of-hospital medical care. Ambulance services help transport medically injured or ill patients to and from hospitals to ensure timely health checkups and treatment by healthcare professionals. Ambulances are generally in the form of a van. However, it also takes the form of motorcycles, cars, buses, aircraft, and boats. 

Ambulance Services Market Dynamics

The global ambulance services market growth is driven by an increasing number of road accidents, favorable reimbursement policies, and the geriatric population which is causing the rise in the incidence of chronic diseases and cardiovascular diseases.  

The increasing number of accidents will drive the market growth    

Road accidents are found to be the leading cause of death from injuries and are also the tenth leading cause of death worldwide as they now form a surprisingly significant fragment of the burden on the sick world. An estimated 1.2 million people are killed in road accidents every year, and an estimated 50 million are injured, receiving 30 to 70% of bone marrow transplants in developing countries. With increasing risks, there are also effective emergency services that lead to the timely intervention of accident victims or patients suffering from chronic illness. These timely services play an important role in healthcare. In addition, the growing number of road accidents that require urgent medical attention is increasing the market share for ambulance services.

The market players have devised a number of business strategies, such as strategic agreements, technological advances, and partnerships, to survive in the market. For example, in June 2020, Mahindra announced the launch of a BS-6 Supro ambulance equipped with a foldable trolley, medical supplies, air-conditioning system, advertising system, and indoor lighting. In addition, the growing popularity of air ambulance services and a large number of private insurance patients are also expected to improve this market in the forecast period.

The high cost of air ambulances will hamper the growth of the market  

However, the high cost of air ambulances and stringent regulations by the Federal Aviation Administration (FAA) may hinder the market growth.

COVID-19 Impact Analysis

The COVID-19 outbreak had a positive impact on the ambulance services market. The growing demand for ambulance services to provide emergency care services to COVID-19 patients during the epidemic is driving the expansion of the market. The market is expected to continue its growth even if the crisis has stabilized. The COVID-19 wave has had a huge impact on the air ambulance business. The operators need to be more careful to ensure that patients do not contract the virus as the chances of them getting infected are higher with their critical conditions. This increases the time of preparing the aircraft for the transfers, and thus, requires faster action than before. This brings a burden and additional expense to the staff and the companies. 

Ambulance Services Market Segment Analysis

The air ambulance segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)        

Air ambulances are ambulance services that are vital for transportation in case of medical emergencies. Air ambulances are armed with medical equipment and medical staff that offer medical care in flight, while non-medically equipped and staffed aircraft assist in transporting patients and organs. These services offer various benefits, such as convenience, flexibility, and safety. The increasing burden of chronic diseases like cardiac arrests and other emergencies is boosting the segment growth. The launch of new services is a key factor in the growth of the market. For instance, in September 2020, Karnataka, India, launched the country's first integrated air ambulance service jointly launched by the International Critical Air Transfer Team (ICATT) and the Kyathi in the city.

In April 2019, Air Methods announced the expansion of its partnership with Anthem Blue Cross and Blue Shield. The company’s services may be part of its in-network health coverage benefits in six states in the United States. Under the terms of the partnership, Anthem-affiliated health plan members in California, Georgia, Nevada, Colorado, Virginia, and New York may receive Air Methods’ critical care air services at discounted in-network rates.

Ambulance Services Market

Metrics

Details

Market CAGR

4.1%

Segments Covered

By Transport Vehicle Segment, By Emergency Services, By Equipment, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

Ambulance Services Market Geographical Analysis

North America region holds the largest market share of the global ambulance services market

North America has dominated the ambulance services market, and the dominance of the market is mainly attributable to the presence of several key market players in this region, growing demand for quality healthcare services, and well-established healthcare infrastructure. In addition, the presence of favorable reimbursement policies in developed nations is also expected to drive the overall market. In the United States, Medicare covers both emergency and non-emergency ambulance services if it is considered medically necessary and the supplier fulfills Medicare ambulance requirements. The budding community of Paramedicine in North America also contributes to the large market size in this region.  According to the American Heart Association, in January 2019, stroke was the leading cause of death in the United States. Around 2.7 million people in the country live with atrial fibrillation, and around 800,000 people encounter a stroke annually due to blockage in the blood vessel, which supplies blood to the brain.

Prominent air ambulance service providers are present in the United States, such as Air Methods, Acadian Companies, Air Medical Group Holdings, and PHI Air Medical. Hence, the air ambulance services segment is growing at a significant rate due to the increasing per capita healthcare expenditure and rise in the number of advanced hospitals and ER visits. Thus these factors are driving the growth of the market in the region.

Ambulance Services Market Competitive Landscape

The ambulance services market is a moderately competitive presence of local as well as global companies.  Some of the key players which are contributing to the growth of the market include Envision Healthcare Corporation, Scandinavian AirAmbulance, Acadian Ambulance Service Inc., BVG India Ltd, America Ambulance Services Inc., Falck Holding AS, Air Methods Corporation, Ziqitza Health Care Limited, Medivic Aviation, Dutch Health BV among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the ambulance services market globally. For instance, in May 2021, United States-based helicopter transport services provider Blade's Indian subsidiary launched air ambulance services amid an increase in demand.

Falck Holding AS

Overview:

Falck A/S provides ambulance and firefighting services. The Company offers roadside assistance, fleet management, home assistance, emergency medical, patient transport, fire protection, absence management, medical checks, and emergency preparation services. Falck serves customers worldwide.

Product Portfolio:

Ambulance Service:  Leading international ambulance operator, the company operate more than 3,000 ambulance and patient transportation vehicles worldwide.

Frequently Asked Questions

What is the Projected CAGR value of the Ambulance Services Market?

Ambulance Services Market is expected to grow at a CAGR of 4.1% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Ambulance Services Market during 2022-2029

Which is the fastest growing region in the Ambulance Services Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period 

Trending Topics

Pharmacy Automation Systems Market

HDL Cholesterol Kits Market

Preoperative Surgical Planning Software Market

Did not find what you were looking for?Every 7 out of 10 customers request tailored reports. Get yours today!
We collate your requirements.
Our global research team is put into action.
We deliver, and make sure your endeavour is a success!

Buy This Report

20% Discount Applied*



Note*: For "Bundle/Bulk" Subscription of Reports,
please contact: [email protected]

Get your free sample proposal with a single click!

linkedinpinterest