As per our research report, the global ambulance services market size is forecasted to be growing at a CAGR of 10.12% from 2022 to 2027 and value USD 60.27 billion by 2027 from USD 37.22 billion in 2022.
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One of the primary factors driving the favorable outlook of the global ambulance services market is significant growth in the healthcare industry around the world. Furthermore, the business is being propelled forward by increasing traffic accidents, natural disasters, and medical disorders that require immediate medical attention. The demand for ambulance services for both unscheduled and irregular non-emergency and emergencies increases as the senior population increases. Furthermore, as coronavirus disease (COVID-19) continues to spread worldwide, the demand for ambulance services in hospitals has increased significantly.
Another key growth-inducing factor is the introduction of multi-specialty ambulances equipped with modern tools and equipment to give timely and high-quality care to patients. Many healthcare facilities are also using air ambulances to transfer patients with contagious diseases and critical situations, providing greater convenience, flexibility, and safety. Other factors such as the implementation of favorable government policies to promote public health and significant improvements in healthcare infrastructure are expected to propel the global ambulance services market forward.
A key impediment to the global ambulance services market is the lack of structured ambulance services and skilled employees in present land ambulance services equipped with all advanced medical supplies and equipment and certified pilots for air ambulance services. In addition, the Federal Aviation Administration (FAA) sets strict rules and regulations to ensure that air ambulances transfer patients safely. Once every five years, the FAA proposes regulation revisions to increase the safety of air ambulances. As a result, regulatory changes pose a significant threat to market growth.
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KEY MARKET INSIGHTS:
- The ground ambulance segment dominated the worldwide ambulance services market based on the transport type, with the largest market share in 2021. This can be attributable to ground ambulances’ effectiveness and high utilization rates in developed and developing countries.
- Based on the type of the services, With the largest market share in 2021, the emergency services category dominated the global ambulance services market. Emergency services are predicted to have the most significant CAGR throughout the projection period due to cardiovascular illnesses such as congestive heart failure, cardiac stroke, and arrest.
- Based on the equipment type, With the largest market share in 2021, the advanced life support (ALS) sector dominated the global ambulance services market. The rise of the market can be linked to the increase in technologically advanced equipment and qualified employees and increased awareness of life support services, and the increasing prevalence of cardiovascular disorders.
- Geographically, North America dominated the market with a market value of USD 2.33 billion in 2021. The presence of advanced medical facilities, a significant number of helicopter fleets in the United States, and the highest number of helicopter operators in North America all contribute to the expansion. Furthermore, the region’s market benefits from the presence of big firms.
- From 2022-to 2027, the Asia Pacific is expected to grow rapidly. The industry is expected to rise due to improvements in rising economies like China and India and increased government spending on healthcare. The expanding aviation industry in the Asia Pacific is also to blame for the development. In addition, the number of helicopter operators is increasing, as is the demand for helicopters. Furthermore, the region’s market growth is aided by an increase in the number of helicopter operators and rising demand for helicopters for various medical applications.
- From 2022 through 2027, Europe will experience tremendous growth. Due to a surge in modern technology-based aircraft and leasing facilities. The market in the region is growing due to increased investments by key players in developing and adopting sophisticated technologies that will improve the operations of air ambulance services.
- From 2022 to 2027, the remainder of the world will have moderate growth. However, the market is expected to rise over the projected period due to the entrance of new medical facilities, the region’s better financial situation, a growing population, and increased economic growth.
- Globally established players are Envision Healthcare Corporation, Falck Holding A/S, Acadian Ambulance Service, Inc., Ziqitza Health Care Limited, Air Methods Corporation, London Ambulance Service NHS Trust, America Ambulance Services, Inc., Medivic Aviation, BVG India Ltd., Air Medical Group Holdings, Inc.
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RECENT MARKET DEVELOPMENTS:
- Blade, a US-based helicopter transport services provider, introduced air ambulance services in India in May 2021 in response to increased demand.
- Babcock Norway signed a contract with the European Union in April 2021 to offer jet air ambulance services to the European Union’s rescue scheme. Babcock will provide a rapid jet air ambulance service across the European Union and aircraft maintenance and personnel training.
- Air Methods Corporation inked a contract with HealthPartners, a consumer-governed, non-profit healthcare organization, in November 2020. This arrangement will include air means to provide vital air medical services at subsidized pricing to HealthPartners plan members in Wisconsin, Minnesota, Lowa, Illinois, South Dakota, and North Dakota.
- HIPPO Mobility, the United Kingdom’s first technology-driven, specialized, asset-light, and cost-effective transportation service for disabled, aged, and non-emergency patients, debuted in October 2020 by Advatech Healthcare Europe.
SEGMENTS COVERED UNDER THIS REPORT:
By Services:
- Emergency Services
- Non-emergency Services
By Transport:
- Ground Ambulance Services
- Air Ambulance Services
- Water Ambulance Services
By Equipment:
- Basic Life Support (BLS) Ambulance Services
- Advanced Life Support (ALS) Ambulance Services
By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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