(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Feb. 13, 2024 (GLOBE NEWSWIRE) -- The "Global Ambulance Services Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets's offering.
The global ambulance services market size was estimated to be USD 42.81 billion in 2023 and is expected to reach at USD 114.09 billion by 2034 with a CAGR of 9.32% during the forecast period 2024-2034.
The surge in medical tourism, the availability of reimbursement policies, the substantial population often with lower immunity levels & susceptibility to neurological diseases, cardiac problems, cancer, & spinal injuries, underscores the demand for healthcare services, increasing geriatric population, growing advancements in healthcare infrastructure, a higher number of ambulances, a rise in traumatic accidents, surge in prevalence of cardiovascular diseases collectively contribute to an increased need for ambulance services, and increasing launch of advance life support (ALS) ambulance services by market players are some of the key factors boosting the market growth.
Increasing launch of advance life support (ALS) ambulance services by market players is predicted to boost the market growth during the forecast period. Ambulances, medically equipped vehicles, are employed to transport individuals to healthcare facilities such as hospitals. Generally, patients receive care outside the hospital during transit.
Ambulances are utilized by Emergency Medical Services (EMS) to promptly respond and offer vital transportation during medical emergencies, thereby fuelling the market growth. For instance, in August 2023, Zenzo, a healthcare company, has launched its inaugural 5G ambulance service in Mumbai, leveraging the high-speed capabilities of 5G technology to enhance patient care. Critical patients aboard this ambulance will benefit from advanced diagnosis and treatment options made possible by the innovative 5G ambulance service.
By equipment, advance life support (ALS) ambulance services was the highest revenue-grossing segment in the global ambulance services market in 2023 owing to the increase in individuals experiencing cardiac arrest, a growing need for continuous cardiac monitoring, especially for those with additional health conditions, and rising mergers & acquisitions within market players. For instance, in May 2023, Empress EMS has declared the acquisition of Mobile Life Support Services, a move aimed at reducing operational disruptions and maintaining a consistent standard of service for the communities served.
This collaborative venture is anticipated to enhance the company's revenue. Additionally, basic life support (BLS) ambulance services is predicted to grow at fastest CAGR during the forecast period owing to the increasing occurrences of acute conditions such as asthma attacks, bronchitis, burns, heart attacks, & pneumonia, rise in hospital admissions among adults. This is particularly evident in the treatment of pneumonia and influenza, as well as the growing instances of burn injuries.
By mode of transport, ground ambulance was the highest revenue-grossing segment in the global ambulance services market in 2023 owing to the increasing prevalence of cardiovascular disorders, a growing elderly population, and surge in collaborations within market players. Additionally, air ambulance is predicted to grow at fastest CAGR during the forecast period owing to the rising incidence of different accidents is anticipated to boost the utilization of air ambulances, and rising demand for ambulance services.
By type of services, emergency services was the highest revenue-grossing segment in the global ambulance services market in 2023 owing to the growing occurrence of cardiovascular diseases, including conditions such as cardiac arrest, stroke, & congestive heart failure, underscores the need for emergency ambulance services.
These services are extended to individuals facing acute injuries or illnesses, as well as those requiring immediate medical attention due to the escalating instances of emergency healthcare situations and various traumatic accidents. For instance, in August 2023, Huntsville Hospital has undertaken a merger with HEMSI ambulance service with the aim of expanding its services across northern Alabama.
Additionally, non-emergency ambulance services is predicted to grow at fastest CAGR during the forecast period. Non-emergency ambulance services primarily focus on transporting pediatric and bariatric patients, transferring individuals between healthcare facilities, facilitating transportation for patients undergoing daycare treatments, and conveying discharged patients from hospitals to their homes. The demand for these services is driven by the increasing elderly population and the growing number of discharged patients.
North America region is anticipated for the highest revenue share during the forecast period owing to the presence of multiple prominent players in the industry, an escalating demand for top-tier healthcare services, a robustly established healthcare infrastructure, favorable reimbursement policies, regulatory reforms within the healthcare sector, and growing collaborations within leading market players. For instance, in May 2022, MUrgency Group entered into definitive share purchase agreements with a set of investors in Ziqitza Health Care Limited, the leading private sector company in the emergency medical response and transportation (Life Support Ambulance Service) sector in India.
Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing implementation of reimbursement regulations is making ambulance services more accessible to the general patient population, rising number of elderly individuals, and surge in partnerships within market players. For instance, in June 2022, Care4Parents, India's eldercare services platform partnered with Dial4242 Ambulance service. As part of this collaboration, Care4Parents users will have the ability to swiftly book an ambulance in a matter of seconds. This service is available 24X7.
| Report Attribute
| No. of Pages
| Forecast Period
| 2023 - 2034
| Estimated Market Value (USD) in 2023
| $42.81 Billion
| Forecasted Market Value (USD) by 2034
| $114.09 Billion
| Compound Annual Growth Rate
| Regions Covered
America Ambulance Service Inc. Medivic Aviation Acadian Ambulance Service Air Methods Corporation Falck A/S Medivic Ambulance Global Medical Response Ziqitza Healthcare Limited BVG London Ambulance Service NHS Trust Babcock International Group PLC
Segmentation: Ambulance Services Market Report 2023 - 2034
Ambulance Services Market Analysis & Forecast by Equipment 2023 - 2034 (Revenue USD Bn)
Basic Life Support (BLS) Ambulance Services Advance Life Support (ALS) Ambulance Services
Ambulance Services Market Analysis & Forecast by Mode of Transport 2023 - 2034 (Revenue USD Bn)
Air Ambulance Water Ambulance Ground Ambulance
Ambulance Services Market Analysis & Forecast by Type of Services 2023 - 2034 (Revenue USD Bn)
Non-emergency Services Emergency Services
Ambulance Services Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
North America U.S. Canada Europe Germany France UK Spain Italy Rest of Europe Asia Pacific China Japan India Australia South Korea Rest of APAC Latin America Brazil Mexico Argentina Rest of LATAM Middle East & Africa South Africa GCC Rest of MEA
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Global Ambulance Services Market
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