Ambulance Services Market

Market Synopsis:

The Global Ambulance Services Market was valued USD 28.25 Billion in the year 2022 and is anticipated to reach a value of USD 30.35 Billion by the year 2030. The Global Market is forecasted to grow to exhibit a Compound Annual Growth Rate (CAGR) of 0.90% over the forecast period.

Ambulance Services are emergency medical services that transport people needing immediate medical attention due to an accident, disease, or disaster. They are used for both non-emergency and emergency conditions. They are combined various technological advancements like Basic Life Support (BSL) and Advanced life support (ALS). Multiple factors are responsible for the growth of the Ambulance Services market. First, the increased shift of the healthcare sector around the globe is a significant factor for market growth.

With an increase in the geriatric population, the disease prevalence is also increasing, so the demand for Ambulance Services is growing for both emergency and non-emergency situations. The rising number of road accidents, natural disasters, and medical conditions requiring immediate medical attention are increasing the growth of the Ambulance Services market over the forecast period. The increased number of accidents and other life-threatening conditions such as heart attacks, major strokes, trauma, and other medical illness, provides an opportunity for increased demand for Ambulance Services, this eventually leads to the growth of Ambulance Services market.

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As the COVID-19 cases continue to grow across the globe, there has been a significant rise in the demand for Ambulance Services. Favorable government policies to promote public health and various improvements in the healthcare sectors are anticipated to drive the market toward growth. The increasing popularity of air Ambulance Services and a large number of private insurance holders are also expected to grow the market in the coming years.

Market Segmentation:

The Ambulance Services market is segmented on the basis of Mode of Transportation, Services, Payer, and End-use. The market is segmented into Air ambulance, Ground ambulance, and Water ambulance based on the mode of transportation. The market is segmented into emergency and Non-emergency medical services based on services. The market is segmented into Public, Private, and Out-of-pocket based on the payer. The market is segmented into Hospitals, Nursing homes, Home healthcare settings, and others based on the end-use.

Based on Mode of Transportation:

Based on mode of transportation, the market is segmented as Air ambulance, Ground ambulance, and Water ambulance. The ground ambulance segment dominated the market. Vans and pickups, cars/SUVs, motorcycles, bicycles, ATVs, golf carts, and buses are examples of ambulances on the ground. Increasing cases of cardiovascular disease in the region are expected to promote segment growth. In addition, the increase in the elderly population in the area is expected to drive the segment's growth further. Due to the increasing number of accidents worldwide, the demand for ambulances on the ground is increasing. The ground ambulance segment is growing due to the growing need for emergency medical services and the Covid-19 scenario. Increasing government and corporate funding are also driving the expansion of ground Ambulance Services.

Based on Services:

On the basis of services, the market is segmented into Emergency medical services and Non-emergency medical services. The emergency medical services segment holds the largest market share in Ambulance Services. Cardiovascular disorders such as cardiac arrest, stroke, congestive heart failure, and increased incidence of COVID-19 worldwide can be attributable to the rise of the emergency medical services segment. Patients with severe injuries or illnesses, as well as those in immediate need of medical assistance, are served by emergency ambulances. People in emergency healthcare circumstances and victims of various traumatic incidents are likely to drive the segment growth during the projection period. The emergency medical services segment is expected to develop due to a massive expansion in the geriatric population and an increased number of discharged patients.

Asia Pacific is Projected to Grow at the Highest CAGR During the Forecast Period

Asia Pacific is accounted to grow at the highest CAGR during the forecast period. This growth includes several regional market players, increasing demand for quality healthcare services, established healthcare infrastructure, and favorable reimbursement policies and regulatory reforms in the healthcare sector. Growth rates may also be due to the growing elderly population in countries such as China, India, and Japan. The Asia-Pacific region is expected to show the fastest growth rates, as the aging population is susceptible to various diseases. In addition, preferred government policies to drive public health along with drastic improvements in health infrastructure are expected to drive the market towards growth.

Competitive Landscape:

The key players in the Global Ambulance Services Market include- Babcock Scandinavian AirAmbulance, Acadian Ambulance Service, BVG India Limited, America Ambulance Services, Falck Danmark, Air Methods, Ziqitza Health Care, Harmonie Ambulance, Aeromedevac, SHM Shipcare, and others.

Segmentation of the Global Ambulance Services Market: