Ambulance Services Market Size to Cross US$76 Billion Mark by 2030, Says Fairfield Market Research
In a New Report, Fairfield Market Research Provides an Assessment of How the Industry Trends and Developments are Shaping the Future of Ambulance Services Worldwide. Driven by Premium Accessibility, and Advanced Healthcare Infrastructure, North America Retains the Leadership Position in Global Market.
London, Feb. 08, 2024 (GLOBE NEWSWIRE) — The ambulance services market is expected to see a projected increase from US$40.9 Bn in 2022 to US$76.2 Bn by 2030. While this translates to a robust CAGR of 9.3%, indicating a promising trajectory for the industry. A recently published report by Fairfield Market Research says this strong growth is due to the continuous efforts by governments, and healthcare organisations to enhance emergency medical services, coupled with advancements in ambulance technology, and communication systems.
One of the significant trends shaping the ambulance services market, according to the report, is the pacing integration of advanced technologies. The incorporation of GPS systems, telemedicine solutions, and real-time patient monitoring devices has improved communication between ambulances and healthcare facilities, enabling a more efficient and coordinated response to emergencies.
Get Sample Copy of Report at: https://www.fairfieldmarketresearch.com/report/ambulance-services-market/request-sample
|2023 – 2030
|Market Size in 2022
|Estimated Market Size in 2030
The company’s analyst adds, “Environmental consciousness is driving the adoption of eco-friendly ambulances that incorporate sustainable materials, energy-efficient systems, and low-emission engines”.
In recent years, the global ambulance services market has experienced remarkable growth, driven by an increasing demand for prompt and efficient emergency healthcare services. As nations around the world focus on enhancing their healthcare infrastructure, the ambulance services sector has become a crucial component in ensuring timely medical assistance.
“The global ambulance services market has been witnessing substantial growth, fueled by several factors such as the growing prevalence of chronic diseases, rising road accidents, and an ageing population. The increasing awareness about the importance of timely medical intervention and the emphasis on improving emergency response times have further contributed to the expansion of this market,” states the company analyst.
Key Research Insights
- The global market share of ground ambulances reached 70% in 2022
- Emergency medical transport application accounted for approximately 80% of the market size
- Approximately 40% of global market revenue is contributed by North America
Insights into Segmentation Analysis
Ground Ambulances Reign Supreme with a 70% Market Share, While Air Ambulances Soar at 12% Annual Growth
In the dynamic realm of the global ambulance services market, segmentation plays a pivotal role in understanding the diverse landscape. Ground ambulances have emerged as the stalwart, commanding a massive 70% share in 2022. Their dominance is attributed to factors such as accessibility, cost-effectiveness, and adaptability to various terrains, making them the preferred choice for most medical emergencies.
Equipped with essential medical facilities, ground ambulances ensure timely and efficient transportation of patients, solidifying their cornerstone status. On the fast track, air ambulance services have witnessed an impressive annual growth rate of 12%. Becoming the go-to solution for emergency medical evacuations, especially in remote areas, air ambulances cover vast distances swiftly, providing critical care during transit.
Advancements in aviation and medical technology continue to propel the air ambulance segment forward, meeting the escalating demand for rapid and specialised medical interventions, solidifying its position as the fastest-growing category in the ambulance services market.
Emergency Medical Transport Commands an 80% Share
In 2022, emergency medical transport services stand tall as the backbone of the ambulance services market, representing a commanding 80% share. These critical, time-sensitive interventions address urgent medical needs, ensuring swift responses during accidents, emergencies, and crises.
The indispensable role of emergency services in saving lives and providing immediate medical care cements their dominance in the market. Contrastingly, the non-emergency medical transport segment, constituting the remaining 20%, emerges as the fastest-growing category with an 8% annual growth rate.
Traditionally considered secondary, this segment plays a pivotal role in transporting patients with chronic illnesses, the elderly, and individuals requiring specialised medical care without urgency. The steady growth in this sector mirrors the evolving healthcare landscape, emphasizing the need for comprehensive patient care beyond emergencies.
Public-Private Partnerships Remain the Dominant Force
Public-private partnerships (PPPs) have emerged as the dominant force in the 2022 ambulance services market, capturing a significant 45% share. This collaborative model combines the efficiency of private-sector innovation with the outreach of public-sector resources, ensuring widespread coverage, efficient operations, and advanced medical technologies.
PPPs have become the preferred choice for many regions seeking a balance between innovation and accessibility. Private ambulance services are experiencing remarkable growth, advancing at a rate of 10% annually and securing a 30% market share. The private sector’s investment in cutting-edge medical technologies and specialised ambulance units has fueled this rapid growth.
Offering tailored, premium healthcare experiences, private services cater to a niche market seeking swift responses, advanced medical facilities, and personalised care. The consistent advancements in private ambulance services, along with their focus on quality and efficiency, position them as the fastest-growing segment.
For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/ambulance-services-market
Key Report Highlights
- Several countries are investing in upgrading their ambulance fleets to ensure they are well-equipped with state-of-the-art medical equipment, which also includes the adoption of ambulances with advanced life support (ALS) capabilities.
- The market will largely benefit from growing emphasis on training paramedics, and emergency medical technicians (EMTs) to enhance their skills in handling diverse medical situations.
- Ambulance services globally are embracing telemedicine integration, allowing real-time consultations with healthcare professionals during transit.
- A rising trend focuses on specialised ambulance services tailored for elderly and pediatric patients.
Insights into Regional Analysis
North America Leads with 40% Market Share
In the competitive landscape of the global ambulance services market, North America stands as the undisputed leader, contributing approximately 40% of the total market share in 2022. The region’s well-established healthcare infrastructure, particularly in the US, and Canada, ensures swift and efficient ambulance services that cater to both emergency and non-emergency medical transport needs.
The high prevalence of chronic diseases and an ageing population in North America have fueled an increased demand for medical transportation services. With a rising number of elderly citizens requiring regular medical appointments and specialised care, there is a growing need for non-emergency ambulance services, driving the market growth in the region.
Furthermore, the presence of advanced healthcare technologies and a higher disposable income among the population enable individuals to access premium ambulance services, thereby boosting the overall market revenue.
Asia Pacific Emerges as the Most Vital Hub for Providers
Anticipated to witness significant growth in sales during the forecast period, Asia Pacific has become the most vital hub for ambulance services providers. Several factors contribute to this expected growth, including the region’s large population base, robust economic growth in countries like Japan, and South Korea, and an increased demand for emergency medical services.
Moreover, the rising prevalence of chronic diseases and an ageing population in countries like Japan, and South Korea have led to a higher demand for non-emergency medical transport services, contributing to the overall market revenue.
The Asia Pacific region’s significant market share and robust growth trajectory are further bolstered by government initiatives and investments to improve healthcare infrastructure, driving the growth of the ambulance services market.
Key Companies in Global Ambulance Services Market
- SHM Shipcare
- Harmonie Ambulance
- Babcock Scandinavian AirAmbulance
- Acadian Ambulance Service
- America Ambulance Services
- BVG India Limited
- Ziqitza Health Care
- MEDIVAC Aviation
- Lifeguard Ambulance Service
- Falck Danmark
- Air Methods
- Paratech Ambulance Service
- AirMed International
- Envision Healthcare
Browse Global Ambulance Services Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Mode of Transportation Coverage, By Service Type Coverage, By Operating Type Coverage, By Region, Leading Companies: https://www.fairfieldmarketresearch.com/report/ambulance-services-market
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
Fairfield Market Research
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746
LinkedIn | Twitter
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.