Ambulance Services Market: Air Ambulance Segment is Anticipated To Witness The Fastest CAGR Of 10.64%
Ambulance Services Industry Overview
The global ambulance services market size was valued at USD 42.3 billion in 2021, according to a new report by Grand View Research, Inc. The market is projected to witness a compound annual growth rate (CAGR) of 9.8% from 2022 to 2030. The demand for ambulance services has increased due to the rising incidence of traumatic accidents, increase in a number of people suffering from various chronic diseases, and rise in the geriatric population. Additionally, the rise in medical tourism and the availability of reimbursement policies are also expected to boost the demand for ambulance services over the forecast period. The constant surge in traumatic accidents globally is expected to impel the market growth. For instance, according to National Health Portal, each year around 5 million people die due to various injuries globally.
Moreover, as per a similar source, 20 million people in India are hospitalized to due injuries such as road accidents, burns, and falls. The rise in road accidents increases the demand for ambulance services, thereby impelling market growth during the forecast period. Cardiovascular diseases such as congestive heart failure, stroke, cardiac arrest, and coronary artery diseases, require immediate emergency medical services and medical attention. According to the WHO, globally, CVDs are the leading cause of death and in 2015, CVD comprised 31.0% of the total global deaths. As per CDC, every year, approximately 735,000 cases of heart attack are reported in the U.S.
Gather more insights about the market drivers, restrains and growth of the Global Ambulance Services market
As per British Heart Foundation, there are approximately 200,000 hospital visits every year due to heart attacks, which is, one visit every three minutes. It also reported that every year approximately 40,000 deaths are expected to take place due to stroke in the U.K. CVD is among the leading causes of death in the world and usually requires immediate medical attention, which increases the need for ambulance services. Therefore, the rising incidence of cardiovascular diseases is expected to bolster the growth of the market. The presence of a large population pool over 60 years, which typically has a lower immunity level and is prone to neurological diseases, cardiac problems, cancer, and spinal injuries, is also expected to be a high impact rendering driver for the growth of the market over the forecast period.
For instance, according to United Nations, Department of Economic and Social Affairs, by 2050, approximately 1 in every 6 people in the world are expected to be over 65 years of age. Moreover, as per a similar source, there were 703 million people who were above 65 years of age globally. Hence, the increasing geriatric population is likely to result in the growth of the market. Medical tourism is also rising due to developments in healthcare infrastructure and advanced reimbursement policies. For instance, as per The American Journal of Medicine, the number of medical tourist to all countries were expected to be 14-16 million in 2017. Moreover, according to a similar source, the number of U.S. medical tourists & number of medical tourists in the world is expected to increase by around 25% every year.
Furthermore, as to the Consulate General of India, India has emerged as top 6 medical tourism site globally in recent years. Therefore, due to the growth of medical tourism, ambulance services may be required in the travel destination to transport patients to their venue of treatment. This is expected to boost market growth. The COVID-19 pandemic increased the use of ambulance services. For instance, as per Quartz India, Accretion Aviation witnessed a growth of 20% during the COVID-19 pandemic. However, with a decline in the number of COVID-19 patients, the need for ambulance service is anticipated to reduce, thereby the market is expected to foresee a slightly negative impact in the year 2022-2023.
Even though the market declined, it is anticipated to witness a significant growth rate over the coming years. This can be attributed to the increase in a number of ambulances during the COVID-19 period. For instance, according to the Mint, Ziqitza Healthcare was going to provide 200 additional ambulances to the Madhya Pradesh government during the time of COVID-19. Thus, the aforementioned factors are expected to be responsible for the growth of the market.
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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:
Ambulance Services Transport Vehicle Outlook (Revenue, USD Million, 2018 - 2030)
- Ground Ambulance
- Air Ambulance
- Water Ambulance
Ambulance Emergency Services Outlook (Revenue, USD Million, 2018 - 2030)
- Emergency Services
- Non-emergency Services
Ambulance Services Equipment Outlook (Revenue, USD Million, 2018 - 2030)
- Advance Life Support (ALS) Ambulance Services
- Basic Life Support (BLS) Ambulance Services
Ambulance Services Type Outlook (Revenue, USD Million, 2018 - 2030)
- Public
- Private
Ambulance Services Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights
- September 2017: BVG India Limited and the Andhra Pradesh government collaborated to provide emergency medical services in the state.
Key Companies profiled:
Some of the prominent players in the 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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