In 2022, the global Ambulance Market revenue was US$ 27,074 million. The global market is projected to rise at a revenue of US$ 32,987.04 million by 2031, growing at a CAGR of 2.5% during the forecast period from 2023 to 2031.
The global ambulance market is expanding steadily during the forecast period. Increased accident rates, the arrival of new ambulance service providers with well-equipped ambulances, and attractive reimbursement policies are a few of the major drivers of the global market’s expansion. Businesses in the market are focusing on meeting the increased demand for emergency ambulance services in order to keep their operations expanding. Businesses are diversifying their revenue streams by increasing the accessibility of air ambulance services.
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As the tenth leading cause of death worldwide and the leading cause of injury death, road accidents now account for an unexpectedly significant percentage of the global burden. According to WHO, a road traffic accident claims the lives of almost 1.3 million people worldwide each year. There are an additional 20 to 50 million people who sustain non-fatal injuries, many of whom go on to develop disabilities. Due to the surge in traffic accidents and the number of injuries and trauma requiring rapid medical attention, there is an increasing need for ambulance services.
Government programs to increase access to healthcare services have led to an increase in ambulance services. In several countries, legislation has been passed to improve residents’ access to healthcare services. One strategy to improve access to emergency medical treatment is the construction of new ambulance stations and facilities. For instance, in April 2023, the Alberta government intends to hire more paramedics and add additional ambulances in an effort to reduce EMS response times.
Air Ambulance and 5G Enabled Ambulance: Offering New Prospect for Key Players
The development of technology and its application to the ambulance services industry has been a key market driver. The increasing use of air ambulances and the desire for 5G-capable ambulances are two key developments in the worldwide ambulance market.
Improvements in aviation technology and onboard medical facilities, which enable the delivery of critical care services during flight, are supporting this development. For instance, in April 2023, in more than 550 cities throughout India, on-demand ambulance start-up RED. Health (formerly known as StanPlus) has introduced air ambulance services (RED Air Guardian). Modern medical technology, clinical routes, and a group of skilled critical care experts are all included in every air ambulance.
The promise for 5G to revolutionize emergency healthcare services is driving up demand for 5G-capable ambulances. High-speed data transfer, reduced latency, and enhanced dependability provided by 5G connectivity enable telemedicine, real-time remote diagnostics, and efficient communication between ambulance crews and hospitals. For instance, in September 2023, Zenzo launched a fleet of state-of-the-art 5G-enabled ambulances for hospitals and corporate on-site projects, transforming emergency medical services. These cutting-edge ambulances usher in a new era of real-time data transmission, patient monitoring, and top-notch emergency medical care since they are outfitted with cutting-edge life-saving technology and 5G connectivity.
Major Sales of Ambulance Comes from Hospitals, Generating More Than 50% Revenue
Hospitals account for more than 75% of the revenue generated in the global ambulance market’s end-user segment. Hospitals play a crucial role in providing emergency medical care, whereas ambulances act as a crucial link, which accounts for their dominance. They are not just cars; they are fully functional mobile care units that offer patients immediate medical care while they are traveling.
According to the AHA’s Facts on US Hospitals 2022 report, there were 6093 operating hospitals in the United States in 2022, an increase of 10% from the preceding three years. The market is likely to grow over the forecast period due to more hospitals providing enough air ambulance services and better medical facilities across the country.
North America Generated a Revenue Share of US$ 8,825 Million in the Global Ambulance Market
In 2022, North America accounted for US$ 8,825 million in revenue, dominating the global market. North America has a considerable market share due to the rising number of emergency cases, the high prevalence of chronic diseases, the existence of multiple significant market participants, the growing demand for high-quality healthcare services, and the developed healthcare infrastructure. Particularly in the United States and Canada, emergency response systems are extremely well-organized and effective and heavily rely on ambulances to deliver pre-hospital care and transfer patients to medical facilities.
According to the Centers for Disease Control and Prevention, 18.3 million visits to emergency rooms resulted in hospital admissions. The emergency medical services also include ambulance services. Thus, the rising emergency medical services will drive the global market growth.
According to the National Institute of Health, the number of Americans aged 50 and older will rise by 61.11% from 137.25 million in 2020 to 221.13 million in 2050. By 2050, it is predicted that 99.5% of people aged 50 and older will have at least one chronic illness, totaling 142.66 million people. According to estimates, there is a significant need for ambulance services in the area due to the high frequency of chronic disease.
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Some of the Prominent Players Profiled
- Braun Industries Inc.
- Demers Ambulances
- American Emergency Vehicles (AEV)
- Horton Emergency Vehicles
- Wheeled Coach Industries
- Osage Ambulances
- Excellance, Inc.
- McCoy Miller
- Life Line Emergency Vehicles
- PL Custom Emergency Vehicles
- Road Rescue Emergency Vehicles
- Malley Industries
- Other Prominent Players
The global ambulance market segmentation focuses on Type, End-User, and Region.
- Ambulance Car
- Ambulance Truck
By End User
- Emergency Center
- North America
- The U.S.
- Western Europe
- The UK
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Western Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Rest of South America
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