The ambulance service market is witnessing significant growth due to the increasing demand for emergency medical services and the growing focus on efficient healthcare infrastructure.
Westford, USA, Dec. 09, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the global ambulance services market will reach a value of USD 91.04 Billion by 2031, with a CAGR of 9.9% during the forecast period (2024-2031). The ambulance services market is progressing considerably owing to factors like improvements in healthcare technology, rising demand for emergency medical services, and increasing awareness of the significance of timely medical assistance. The market is also fueled by the growing healthcare expenditures and growing geriatric population that demand emergency medical care services. Improvements like GPS tracking, telemedicine, and improved ambulance medical equipment are further driving the market growth.
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Browse in-depth TOC on the “Ambulance Services Market”
Pages – 219
Tables – 63
Figures – 75
Ambulance Services Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 42.78 Billion |
| Estimated Value by 2031 | USD 91.04 Billion |
| Growth Rate | Poised to grow at a CAGR of 9.9% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa |
| Report Highlights | Growing number of patent filings by major market players |
| Key Market Opportunities | Expanding Ambulance Services in the Remote Areas |
| Key Market Drivers | Advancements in Medical Technology and Integration of Telemedicine |
Ambulance Service Market Segmental Analysis
Global Ambulance Services Market is segmented on the transport vehicle, emergency services, equipment and region.
By transport vehicle, the market is segmented into Ground Ambulance, Air Ambulance, and Water Ambulance.
By emergency services, the market is segmented into Emergency Services and Non-Emergency Services.
By equipment, the market is segmented into Advanced Life Support (ALS) Ambulance Services and Basic Life Support (BLS) Ambulance Services.
By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Increased Accessibility and Cost-Efficiency to Drive Ground Ambulance Services Segment
By type, the ground ambulance services segment registered for a major market share in 2023 owing to wide availability and cost-efficiency. Ground ambulance services are highly accessible than the other forms and are widely used in the rural and urban areas. This increases their popularity and makes them the primary medium of transport. The segmental growth is also impacted by the cost-effectiveness offered since they are budget-friendlier than air ambulance services, thus increasing their preference for the maximum healthcare systems.
On the other hand, the air ambulance services segment is expected to grow as a fastest-growing segment owing to speedy transport service and improved medical technology. air ambulances majorly decrease travelling time, which makes them vital and essential for time-sensitive emergencies. Air ambulances often possess high-tech medical technologies that enable advanced medical care during transportation, thus driving its demand.
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Quick Responsiveness and Public Awareness to Drive Emergency Services Segment
By application, the emergency services segment is expected to gain substantial growth due to critical needs and increased public awareness. Emergency services offer support for life-threatening situations, which fuels the demand for speedy transport and quick response. Also, increased awareness for the significance of timely medical care in emergency settings is propelling the segment’ growth.
Conversely, the mobile health clinics segment is expected to grow steadily owing to expanded access to medical care and emphasis on preventive care. Mobile clinics offer improved medical care and services in the remote and the underserved areas, which increased their access to vulnerable populace. Also, they emphasize routine check-ups and preventive care that resolve issues prior to emergency interference, thus impacting segmental growth.
Presence of Superior Healthcare Infrastructure and Increased Awareness to Fuel Market in North America
Region-wise, North America led the market in 2023 and is projected to dominate in the forthcoming years as well owing to the presence of well-developed healthcare infrastructure and increased healthcare expenditure. North America brags about its technologically advanced healthcare systems and facilities. This ensures effective and reliable ambulance services. The market in the region is also fueled by significant investments in healthcare, comprising ambulance services that improve accessibility and quality.
Asia-Pacific is projected to gain highest growth over the forecast period backed by speedy growth of population and bettering emergency response. Growing population density in most urban areas is notably driving the need for emergency healthcare services. Most nations are improving their emergency response capabilities. This results in offering more reliable ambulatory services to individuals.
Ambulance Services Market Insight
Drivers:
- Growing Demand for Emergency Services
- Growing Elderly Population that Demand Emergency Services
- Growing Healthcare Expenditure
Restraints:
- High Maintenance and Operational Costs
- Lack of Trained Personnel
- Inconsistent Funding by Governments
Prominent Players in Ambulance Services Market
- Babcock International Group PLC (UK)
- London Ambulance Service NHS Trust (UK)
- Acadian Ambulance Service, Inc. (US)
- BVG India Limited (India)
- American Ambulance Service, Inc. (US)
- Falck A/S (Denmark)
- Global Medical Response (US)
- Air Methods Corporation (US)
- Ziqitza Healthcare Limited (India)
- MEDIVIC Pharmaceutical PVT LTD (India)
- Dutch Health B.V. (Netherlands)
- Envision Healthcare Corporation (US)
- Scandinavian AirAmbulance (Sweden)
- Livonta Global Pvt. Ltd. (India)
- Medivic Aviation (India)
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Key Questions Answered in Global Ambulance Services Market Report
- What is the growth rate and size of the ambulance services market, according to SkyQuest Technology?
- What are the main trends and advancements reshaping the Ambulance Services Market?
- What are the key opportunities observed in the ambulance services market?
This report provides the following insights:
Analysis of key drivers (growing integration of mobile health solutions, rising government initiatives, growing public awareness), restraints (logistical challenges in rural areas, heavy competition from alternate transport, growing misuse for non-emergency situations), opportunities (growth of air ambulance services, focus on preventive care, integration with advanced tracking systems), and challenges (funding constraints, high operational costs, ineffective resource allocation) influencing the growth of ambulance services market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the ambulance services market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the ambulance services market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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