Ambulance Services Market to Reach Valuation of USD 30.3 Billion by 2028 – An Increase in Number of Accidents Drives the Market

Vantage Market Research

Aug 01, 2022

In terms of revenue, the Global Ambulance Services Market is expected to reach USD 30.3 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 1.1% from 2022 to 2028.

The Ambulance Services plays a unique part by providing clinical intervention at the scene for patients extremely in poor health and transporting people to the hospital in an emergency. In addition, they are considered an essential aspect of the emergency medicine sector. As a result, the Ambulance Services come with necessary facilities such as monitors, defibrillators, ventilators, continuous oxygen supply, etc., which is the primary factor in the market expansion of Ambulance Services.

Key Highlights from Report:

  • The ground ambulance segment held the most considerable sales proportion in 2021. Ground ambulance consists of van or pickup trucks, cars/SUVs, motorcycles, bicycles, all-terrain vehicles, golf carts, and buses. The rising cardiovascular issues globally are expected to propel the segmental growth of the Ambulance Services Market.

  • The air ambulance segment is anticipated to register the potential growth of the Ambulance Services Market during the forecast period. The increase in various accidents is expected to increase the use of air ambulances, thus driving the growth of this segment.

  • Asia Pacific is expected to grow at the fastest CAGR during the forecast period. The Asia Pacific turned into the fastest-developing marketplace in 2021. The increase in population in developing countries such as India and China accounted for extensive growth of the Ambulance Services Market in this region.

Market Dynamics:

The rise in the adoption fee of business & private cars has ended in a better range of injuries. However, accidents regularly create a want for fast clinic visits for clinical remedy and support. Hence, sufferers require ambulance offerings for transportation to and from hospitals. The United States region is one of the busiest nations across the globe regarding avenue visitors’ injuries. Around 10 million avenue injuries take place each year in the U.S. Among these, almost 2-4 million drivers suffer from accidents each year. Furthermore, as stated by the Ministry of Road Transport & Highways (MORTH) of India, approximately 6,800 human beings died, and 18,000 were injured under drinking and driving injuries in 2015–2016. Hence the surge in the range of injuries is predicted to propel the ambulance offerings marketplace from 2022 to 2031.

North America held the most significant shares in 2021, owing to the high proportion of the area ascribed to the increase in adoption of superior remedy techniques and favorable compensation regulations because of the growth in the senior and overweight population.

Asia Pacific predicted to be the fastest-developing marketplace during the forecast period. The high presence of the elderly population in developing nations, including India and China, fuels the extensive growth of the Ambulance Services Market in this region.