Ambulance Services Market to Witness Huge Growth at 9.8% CAGR During the Forecast Period 2023-2030

Posted on 2023-04-12 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Apr 12, 2023 — /EPR Network/ —

Ambulance Services Industry Overview

The global Ambulance Services Market size is expected to reach USD 82.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.8% from 2022 to 2030. Rising cases of chronic disorders such as cardiovascular disorders, an increase in the global geriatric population, and rising cases of traumatic accidents are expected to be the key driving factors for the market.

The growth of the market is due to favorable reimbursement policies in developed nations. In the U.S., Medicare covers both emergency and non-emergency ambulance services for medically necessary cases, given that the supplier fulfills stipulated requirements. In some cases, Medicare also covers irregular and unscheduled non-emergency trips. Medicare covers around 80.0% of the amount for emergency services while the remaining 20.0% is covered by the insurance policy of the patient.

Moreover, there has been a constant increase in the number of traumatic accidents globally. For instance, as per Association for Safe International Road Travel, around 1.35 million people die due to road accidents, whereas 20-25 million people suffer injuries leading to permanent disability. Thus, with the rising number of road accidents, the demand for air ambulances is expected to increase, thereby impelling the market.

Furthermore, the market witnessed a tremendous spike during the COVID-19 pandemic. For instance, as per Maharashtra Emergency Medical Service (MEMS), during the second wave of COVID-19, there was a 33% spike from 2020 and an 18% increase from the pre-pandemic period. Additionally, with a decline in COVID-19 cases, the demand for ambulance services might affect negatively during the year 2022-2023. However, the market is expected to grow at a significant pace post-2023. This can be attributed to the increasing number of ambulances globally. For instance, as per The Hindu, in May 2021, the Greater Chennai Corporation launched 250 COVID-19 special ambulances for 15 zones of the city.

Ambulance Services Market Segmentation

Grand View Research has segmented the global ambulance services market on the basis of transport vehicle, equipment, emergency services, type and region:

Based on the Transport Vehicle Insights, the market is segmented into Ground Ambulance, Air Ambulance and Water Ambulance.

The ground ambulance segment dominated the market and held the largest revenue share of 48.6% in 2021. Ground ambulance includes van or pickup trucks, car/SUV, motorcycle, bicycle, all-terrain vehicles, golf cart, and bus.
Air ambulance services are faster than ground ambulance and water ambulance services and can quickly reach remote areas where ground and water ambulance services are unable to reach. Thus, the aforementioned factors are anticipated to help the segment grow.

Based on the Emergency Services Insights, the market is segmented into Emergency Services and Non-emergency Services.

The emergency services segment dominated the market and held the largest revenue share of 60.9% in 2021. The segment is anticipated to witness a considerable growth rate over the forecast period.
Nonemergency ambulance services are primarily for the transportation of pediatric and bariatric patients, transportation of patients from one healthcare facility to another, for patients requiring daycare treatments, and transportation of discharged patients from hospital to home. The segment is expected to witness significant growth rate of CAGR 9.19% during the forecast period.

Based on the Equipment Insights, the market is segmented into Advance Life Support (ALS) Ambulance Services and Basic Life Support (BLS) Ambulance Services.

The Advanced Life Support (ALS) ambulance services segment dominated the market and held the largest revenue share of 67.7% in 2021. Increase in a number of people suffering from cardiac arrest is expected to boost the ALS segment over the forecast period.
Basic life support (BLS) is anticipated to witness a CAGR of 8.6% during the forecast period. Rising incidence rate of acute illness such as asthma attacks, bronchitis, burns, heart attacks, and pneumonia is expected to drive the segment growth.

Based on the Type Insights, the market is segmented into Public and Private.

Ambulance Services Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile

Key players are involved in adopting strategies such as merger and acquisitions, partnerships, and launching new products to strengthen their foothold in the market.

Some prominent players in the global Ambulance Services market include

Envision Healthcare
London Ambulance Service NHS Trust
Acadian Ambulance Service
BVG India Limited
America Ambulance Services, Inc.
Falck Denmark A/S
AIR MEDICAL GROUP HOLDINGS, INC. (AMGH)
Air Methods Corporation
Ziqitza Healthcare Limited
MEDIVIC AVIATION

Order a free sample PDF of the Ambulance Services Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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