Ambulance Services Market is Expected to Expand at a CAGR of ~4% during 2019 – 2027
Ambulance Services Market: Introduction
Transparency Market Research has published a new report on the ambulance services market. According to the report, the global ambulance services market was valued at ~US$ 39 Bn in 2018. The ambulance services market is expected to expand at a CAGR of ~4% during the forecast period of 2019 to 2027.
Ambulances help rescue injured or medically ill patients by transporting them to medical treatment centers. Established and new players are launching new and advanced ambulances and services to provide high level of comfort and medical services to patients. This is expected to drive the ambulance services market.
For example, in 2019, in India, the State Government Health Department of Odisha launched the first ever boat ambulance service at Batighar in Kendrapara district. In Odisha, a large number of riverside villagers still depend on passenger boats, which are not available at night. This boat ambulance service helps them during medical emergencies. The government is planning to launch five more such boats at end of this year.
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In terms of mode of transport, the ground ambulances segment held a major share of the global ambulance services market in 2018. This segment is likely to maintain its dominance during the forecast period. The ground ambulances segment is projected to be the most attractive segment during the forecast period. It is the most widely used method of emergency medical service, and is anticipated to offer lucrative opportunities, especially in developing countries.
Based on equipment, the basic life support (BLS) segment accounted for a major share of the global ambulance services market. This segment is projected to grow at a moderate CAGR during the forecast period. Medical services are provided by emergency medical practitioners and partially-trained personnel in BLS ambulances. BLS ambulance services are usually provided to patients with complex fractures, medical or surgical patients being discharged for home or some sub-acute care facilities, and psychiatric patients.
Increase in the number of surgeries, globally, is likely to fuel the growth of the segment, as BLS ambulance services would be needed to transport patients from hospitals to homes and vice-versa. Patients who have undergone surgery and do not require medical monitoring are advised to avail BLS ambulance services, as personal vehicle transport may create post medical surgery complications (because of their built). This would further drive the demand for BLS ambulance services.
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Global Ambulance Services Market: Prominent Regions
North America held a major share of the global ambulance services market in 2018. This can be attributed to increase in the adoption of advanced treatment approaches, and favorable reimbursement policies due to increase in geriatric and obese populations that are more susceptible to various chronic and acute diseases.
Europe held the second-largest share of the global ambulance services market in 2018. Major markets in Europe include Germany, France, the U.K., Spain, and Italy. According to the European Commission (EC), around 100 million people in Europe suffered from one or more physical disability in 2015, and this number is likely to increase during the forecast period due to rise in the incidence of accidents. This is likely to increase the demand for ambulances for transportation to hospitals. Therefore, the ambulance services market is anticipated to witness strong growth in Europe during the forecast period.
Asia Pacific accounted for a significant share of the global ambulance services market in 2018, and this market is expected to grow at rapid pace during the forecast period. Major markets in Asia Pacific include Australia & New Zealand, India, China, and Japan. Japan is a mature market for ambulance services due to the presence of various government rebates and favorable reimbursement policies for availing ambulance services by patients. The National Health Insurance (NHI) and Employees’ Health Insurance (EIS) Systems of Japan help provide reimbursements for the ambulance services fees entailed. Economic development in various countries such as India and China has led to rise in the disposable income of the population, which, in turn, has increased the affordability for various medical services by the patient population.
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Global Ambulance Services Market: Key Players
Key players are expanding their footprint to strengthen their position in the global ambulance services market. Increase in the patient population and rapidly increasing number of trauma cases offer lucrative opportunities to key players to increase their share in the ambulance services market. Manufacturers engage in strategic acquisitions, collaborations, and distribution to expand their market share in the ambulance services market.
Prominent players operating in the global ambulance services market are Acadian Ambulance Service, Inc., Air Methods Corporation, Dutch Health B.V., Envision Healthcare Corporation, Falck A/S, London Ambulance Service NHS Trust, Air Medical Group Holdings, Inc., Scandinavian AirAmbulance, and Lufttransport AS.
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