According to a new study published by Transparency Market Research, the global ambulance services market will display a healthy 8.30% CAGR from 2013 to 2019. The market, which stood at a valuation of US$17 bn in 2012, is expected to reach US$29.8 bn by 2019. The title of this report is “Ambulance Services Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019” and it is available for sale on the company’s website.
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The report states that the global ambulance services market is driven by factors such as the increasing rate of accidents, growing pool of geriatrics, increasing prevalence of lifestyle diseases such as diabetes, and improvement in medical claim policies for ambulatory services. The report also provides the reasons why incorporation of new ambulance services and increasing preference for home healthcare will positively influence the growth of the global market for ambulance services.
Ambulance services predominantly involve transporting patients suffering from a medical emergency from their location to the nearest healthcare facility. Ambulance services are equipped with primary healthcare services, oxygen masks, life support systems, etc., which may be needed for patients while being transported to a hospital. In developed countries, ambulance services can be accessed by dialing a national emergency number from any landline phone, cell phone, or pay phone free of cost.
The report segments the global market for ambulance services on the basis of mode of transport, emergency type, equipment, and geography. By mode of transport, ground ambulance services, water ambulance services, and air ambulance services are the segments of this market. Of all the segments, it is the air ambulance segment that will display the fastest growth between 2013 and 2019; this is mainly due to the rising medical tourism to destinations such as India, Brazil, and Thailand. The growth of this segment is also supported by the high investments made by companies to expand their air ambulance fleets due to its high revenue returns.
By type, emergency ambulances will display a much higher growth rate than non-emergency ambulances; this is due to the growing demand for ambulance services with a quick response time and easy availability. Based on equipment, advanced life support ambulance services dominate this market owing to a rising number of critical emergencies.
North America and Europe are the leading regional markets for ambulance services and jointly held more than 80.0% of the global market in 2012. However, as per the report’s findings, Asia Pacific will emerge as the fastest-growing regional market for ambulance services due to the surging industrialization and infrastructural support in place for these services.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.