(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Feb. 13, 2024 (GLOBE NEWSWIRE) -- The "US Ambulance Services Market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets's offering.
The ambulance service market in the United States is experiencing significant growth, with its value projected to increase from $17.82 billion in 2023 to a CAGR of 10.36% from 2023 to 2029.
In the US, the demand for the Ambulance Service market is rising due to multiple factors, including the rising baby boomers, the aging population, and increased healthcare expenditure. In 2023, the advanced life support segment dominated the Ambulance Service market with a whopping 68.85% occupancy and is expected to grow at a CAGR of 10.64% during the forecast period as there is an increased need for advanced life support ambulances across the US.
The revenue generated from ambulance services in the US is rising steadily. Diabetes, an increasing aging population, obesity, other chronic diseases, and road accidents are key factors that contribute to the rising demand in the US. For instance, in 2018, there were approximately 52 million people aged 65 and above, which is projected to become about 95 million by 2060 in the US. As the elderly are more prone to diseases, it is expected that the need for ambulance services will be even more during the forecast period.
In 2023, ground ambulances by mode of transport are contributing 48.70% of the Ambulance Service and are expected to grow at a CAGR of 9.98% during the forecast period since most people are likely to opt for ground ambulance services as the cost for air ambulances is bit higher. In 2023, the emergency services segment dominated the market with 77.47% and is expected to grow at a CAGR of 10.54%, as most people in the US opting for ambulance services are aged and prone to serious health conditions. In 2023, the metropolitan statistical areas dominated the market by occupying 76.79% of the market share and are expected to grow at a CAGR of 10.48% during the forecast period due to a significant increase in the percentage of the elderly population in this region.
| Report Attribute
| No. of Pages
| Forecast Period
| 2023 - 2029
| Estimated Market Value (USD) in 2023
| $17.82 Billion
| Forecasted Market Value (USD) by 2029
| $32.19 Billion
| Compound Annual Growth Rate
| Regions Covered
| United States
Market Dynamics Competitive Landscape of Ambulance Services Market Key Vendors Other Prominent Vendors
Acadian Ambulance Service Air Medical Group Holdings Rural/Metro Corporation Medstar AirEvac International Ambulnz Air Methods American Air Ambulance Royal Ambulance PHI Air Medical Falck Air Ambulance Worldwide American Medical Response SeniorCare EMS RIT Ambulance Metro West Ambulance Mohawk Ambulance Service McKeesport Ambulance Rescue Service Guardian Flight Apollo MedFlight Life Flight Network
PRODUCT SEGMENTATION & FORECAST
Advanced Life Support Basic Life Support
By Mode Of Transport
Ground Ambulance Air Ambulance Water Ambulance
Emergency Service Non-Emergency Service
Metropolitan Statistical Areas Non-Metropolitan Statistical Areas
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US Ambulance Services Market
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