According to the recent Growth Plus Reports analysis, the Global Ambulance Services Market was valued at US$ 32.0 billion in 2022 and is expected to register a revenue CAGR of 9.5% to reach US$ 72.42 billion by 2031 during the forecast period from 2023 to 2031. The research describes the most successful strategies, market trends, key drivers and opportunities, the competitive landscape, market size, statistic figures, revenue forecasts, and key investment areas.
Key Takeaways:
- The increasing incidence of accidents and medical emergencies is driving the market revenue growth.
- Government organizations investing heavily in healthcare infrastructure contribute to market revenue growth.
- The multiple types of ambulances, such as air, water, and ground, are helping emergency patients reach hospitals.
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Ambulance Services Market Scope
| Report Attribute | Details |
| Market size value in 2022 | US$ 32.0 billion |
| Revenue forecast in 2031 | US$ 72.42 billion |
| Growth Rate | CAGR of 9.5% from 2023 to 2031 |
| Base year for estimation | 2022 |
| Forecast Period | 2023-2031 |
| Historical Year | 2021 |
| Segments covered | Transport Type, Emergency Services, Type, and Region |
| Regional scope | North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
Market Drivers:
Modern ambulances increasingly incorporate cutting-edge medical technology like defibrillators, ventilators, and sophisticated life support systems, which has improved patient outcomes and raised the demand for these services, fueling the expansion of the global ambulance services market revenue. Cardiovascular conditions such as strokes, heart failure, cardiac arrest, and coronary artery disorders necessitate prompt emergency medical care, increasing the demand for ambulatory service markets. However, the market revenue is restrained by the high cost and the safety hazards, such as exposure to contagious diseases.
Market Segmentation:
Growth plus reports have analyzed the global ambulance services market from perspectives such as transport type, emergency services, equipment type, and region.
Transport Type Segmentation:
Based on the transport type, the global ambulance services market is segmented into ground, air, and water ambulances.
The ground ambulance segment dominates the global market with the largest revenue share attributed to it being the most convenient route for the transportation of patients. This revenue share is due to using ambulances equipped with basic or advanced medical equipment to provide emergency medical care on-site and during transport to medical facilities.
The air ambulance is expected to be the fastest-growing segment during the forecast period due to reaching patients in difficult-to-reach regions in an emergency scenario, such as natural disasters and medical crises, and transporting critically sick patients between medical institutions.
Emergency Services Segmentation:
Based on the emergency services, the global ambulance services market is segmented into emergency services and non-emergency services.
The emergency services segment dominates the global market with the largest revenue share, owing to increasing demand for emergency medical services. This large revenue share is attributed to the immediate medical care provided by highly trained medical professionals for patients suffering from critical disease, injury, or trauma.
Equipment Segmentation:
Based on the equipment, the global ambulance services market is segmented into advanced life support ambulance services (ALS) and basic life support ambulance services (BLS).
The advanced life support ambulance services (ALS) segment accounts for the largest revenue share due to the increasing use of ambulances equipped with advanced medical equipment and staffed by highly trained medical professionals.
Regional Growth Dynamics:
Based on regions, the global ambulance services market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Asia Pacific is expected to be the fastest-growing segment during the forecast period. This large revenue share is attributed to the increasing demand for emergency medical services and rising road accidents and natural disasters.
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Competitive Landscape:
The prominent players operating in the global ambulance services market are:
- AEROMEDEVAC
- Medivic Pharmaceutical PVT. LTD.
- Babcock International Group PLC
- Acadian Ambulance Service
- Envision Healthcare
- BVG India
- Air Medical Group Holdings LLC
- Falck A/S
- IAS Medical, Ltd.
To increase the product portfolio in the global ambulance services market, prominent players have embraced the latest technology launches, government initiatives, and agreements as their key developmental strategies. These initiatives have enabled the expansion of future economic business prospects and increased demand for ambulance services.
Recent Developments:
- In March 2023, a long-term agreement was signed between Leonardo Helicopters and PHI Group (PHI) to provide maintenance for the operator’s AW139 fleet. PHI’s AW139 helicopters will be covered under the new Special Component Plan (SCP) under the OEM’s Powered-By-The-Hour (PBH) contract.
- In February 2023, to meet its requirements for emergency response, SkyAngels Air Ambulance, a British company that offers emergency medical transport services, announced its partnership with PAL-V, the world’s first flying car.
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VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- ‘Business Profile’ of Key Players
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