Ambulance Services Market size worth around USD 50 Bn by 2026

Ambulance Services Market size is predicted to cross USD 50 billion by 2026; according to a new research report by Global Market Insights, Inc.
 

Improving healthcare infrastructure and race to provide better services to the patients are some of the major factors driving ambulance services market growth. Ambulance services respond to emergency medical situations effectively and quickly, by providing care and saving lives. Ambulance services provide the expertise, equipment, and experience in the emergency assessment, intervention, and transport of patients in a variety of controlled, uncontrolled, and disaster environments.

 

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Various organizations are taking initiatives to create awareness and to make ambulance services available in developing countries. For instance, Ambulancezorg Nederland is one of the national organizations for ambulance care in The Netherlands. It offers support to the Regional Ambulance Services (RAVs) in the country. The above-mentioned factors prove beneficial for the overall industry progression.
 

Ambulance Services Market

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Growing number of road accidents will act as a foremost growth driver

The surging number of road accidents has been driving the sales of the ambulance services market. The rapidly growing road accidents require immediate medical attention and ambulance services to further avoid severe health problems. As per the World Health Organization (WHO) estimations, over 1 million individuals die globally in road collisions every year. Road traffic crashes are one of the leading causes of deaths in the U.S. for individuals aged between 1 to 54 years. Therefore, patients require emergency medical services for better and effective care.
 

Moreover, different schemes are being introduced by the government and non-government organizations to deliver faster transportation through the air or ground ambulance services. However, the shortage of ambulances and proper medical staff may hinder the industry expansion during the analysis period.
 

Rapid technological development will provide opportunities for improved ambulance services

The air ambulance services market will witness around 2% CAGR over 2020 to 2026. Air ambulance services are used for transporting patients either from the accident scene to a hospital, or between hospitals so that the patient may receive more sophisticated and accurate medical care. Air ambulances are either fixed-winged aircraft or helicopters that are equipped to transport seriously injured persons requiring specialized treatment. These services are majorly covered by Medicare for emergent cases only. Air ambulance services are widely expanded into underserved rural areas worldwide to effectively as well as quickly manage patient health that eventually propelled the ambulance services market growth.
 

Moreover, due to the current outbreak of COVID-19, the number of air ambulance services has surged in developing and developed countries. These ambulances are equipped with specialized medical equipment that allows injured or ill patients to be transported comfortably and quickly over remote areas or long distances. Additionally, it has trained medical professionals, monitoring functions and medical equipment along with patient-specific flight medicine that effectively contributes towards market growth.
   

Browse key industry insights spread across 220 pages with 216 market data tables & 17 figures & charts from the report, “Ambulance Services Market Size By Mode of  Transportation (Air Ambulance, Ground Ambulance, Water Ambulance), By Service (Emergency Medical Services, Non-Emergency Medical Services), By Payer (Public, Private, Out-of-Pocket), By End-use (Hospitals, Nursing Homes, Home Healthcare Settings), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/ambulance-services-market
 

Differentiating characteristics including quick response time will offer lucrative growth opportunities

The emergency medical services segment held around 60% market share in 2019. Emergency medical services are the most common type of ambulance services that provide care to patients with an acute injury or illness. Emergency ambulance services provide advanced life support care as well as basic life support care to patients requiring immediate medical care. Moreover, emergency services provide out-of-hospital treatment and transport to definitive care that augments market progression. Additionally, advanced quality of service, as well as quick response time when compared to non-emergency service further, drives the segmental growth.
 

Presently, the COVID-19 outbreak has increased the demand for ambulance services. Due to this, the strategies of emergency ambulance services to manage the COVID-19 outbreak are constantly changing and increasing the service demand.                              
                           

Hospitals segment will dominate the market due to growing number of treatments related to road accident injuries and illnesses

The ambulance services market from hospital segment was valued over USD 9 billion in 2019. Hospitals require the maximum number of ambulances due to growing number of surgeries performed at the hospital settings. Moreover, various companies including Acadian and America Ambulance Services provide a large number of ambulance services including water and air for effectively managing patient care. Additionally, these ambulances have well-equipped medical instruments and medications to immediately treat patients. Thus, the demand for advanced ambulance services will rise to avoid transportation delays, thereby driving the market growth.
 

Public services segment is expected to show a lucrative growth trajectory

The public segment will witness more than 0.2% CAGR over the analysis timeframe. Several government payers pay for the maximum portion of ambulance calls that foster the segmental growth. Medicare and Medicaid hold for the maximum share when compared to private payers as the ambulance calls are directly paid by the government. Hence, above mentioned aspects boost the market growth.
 

Developing healthcare infrastructure in the Asia Pacific region will accelerate the market expansion

Asia Pacific ambulance services market will expand at 1.6% CAGR during the forecast period. The increasing number of road accidents specifically in India and China is expected to favor regional growth. As per the WHO, in 2018, India reported 467,044 number of road accidents with an increase of 0.5% as compared to previous year 2017. Hence, the rising number of road accident cases in this country, enhances the demand for ambulance service. Moreover, rising government spending on developing better healthcare infrastructure may improve the affordability as well as accessibility of healthcare in the region.
 

Adoption of organic and in-organic strategies by market players will drive the business growth

Few of the prominent players operating in ambulance services market share are Babcock Scandinavian AirAmbulance, Acadian Ambulance Service, BVG India Limited, America Ambulance Services, Falck Danmark, Air Methods, Ziqitza Health Care, Harmonie Ambulance, Aeromedevac and SHM Shipcare, among others. The business players are involved in numerous strategic agreements such as acquisitions and collaboration to gain significant revenue shares in ambulance services business.
 

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