Yahoo Finance $30+ Bn Global Ambulance Services Market is Expected to Grow at a CAGR of over 1.1% During 2022-2028 | Vantage Market Research
WASHINGTON, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Ambulance Services Market finds that a sudden rise in the occurrences of dreadful accidents, growing chronic diseases among various people, and an increase in the aged population are the key reason for the expansion of the Ambulance Services Market. In addition, an excellent medical reimbursement facility is also expected to witness the strong growth of the Ambulance Services Market during the forecast period.
The Global Ambulance Services Market revenue is expected to reach a value USD 30.3 Billion in the year 2028.
The Global Market revenue stood at a value USD 28.4 Billion in the year 2021 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 1.1% during the forecast period; states Vantage Market Research, in a report, titled “Ambulance Services Market Size, Share & Trends Analysis Report by Mode of Transportation (Air Ambulance, Ground Ambulance, Water Ambulance), by Services (Emergency Medical Services, Non-Emergency Medical Services), by Payer (Public, Private, Out-Of-Pocket), by End-Use (Hospitals, Nursing Homes, Home Healthcare Settings, Others), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Key Insights & Findings from the Report:
According to our primary respondents’ research, the Ambulance Services market is predicted to grow at a CAGR of roughly 1.1% during the forecast period.
The Ambulance Services market was estimated to be worth roughly USD 28.4 Billion in 2021 and is expected to reach USD 30.3 Billion by 2028; based on primary research.
On the basis of region, Asia Pacific is projected to dominate the worldwide Ambulance Services market.
Market Dynamics:
Driver:
Rising Number of Accidents to Drive the Market Growth
The rise in the adoption fee of business and private cars has ended in a better range of injuries. Accidents regularly create a want for fast clinic visits for clinical remedy and support. Hence, sufferers require ambulance offerings for transportation to-and-from hospitals. According to the National Health Portal, around 5 million people each year die from various injuries globally. The United States is the busiest nation for avenue visitors' injuries. About 10 million avenue injuries take location each year in the U.S. As stated by the Ministry of Road Transport & Highways of India, approximately 6,800 human beings died, and 18,000 were injured under alcohol driving injuries in 2015–2016. Thus, the surge in the range of injuries is predicted to propel the Ambulance Services Market growth during the projected period.
Improved Care Services for Geriatric Population to Fuel the Market Expansion
The healthcare reforms available in various regions like the U.S., China, and Japan have increased the population's life expectancy. According to the WHO, the global elderly population stood around 524 million in 2010 and will reach approximately 2 billion by 2050. Thus, the constant rise in the aging population is likely to propel the demand for Ambulance Services Market, as older people are more prone to acquiring diseases and infections. The elderly population is also prone to physical disabilities such as immobility, which will likely drive the demand for Ambulance Services Market for transportation to hospitals for medical treatment. In addition, Brazil, South Korea, China, and Thailand are expected to have a large senior population in the next few years. The U.S., U.K., and Japan are likely to follow suit. As a result, the ratio of the aged people to the adult population in these countries is projected to be higher soon. Hence, the growth in the geriatric population is estimated to augment the development of the Ambulance Services Market.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms to restrict the effect of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Ambulance Services Market industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
Impact Assessment of COVID-19 Pandemic
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
Key Strategies Undertaken by Companies to Tackle COVID-19
Long Term Dynamics
Short Term Dynamics
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The Report on Ambulance Services Market Highlights:
Assessment of the market
Premium Insights
Competitive Landscape
COVID Impact Analysis
Historic Data, Estimates, and Forecast
Company Profiles
Global and Regional Dynamics
Regional Analysis:
North America Anticipated Potential Market Growth
North America held the largest share of the Ambulance Services Market in 2021. The high proportion of the area may be ascribed to the increase in the adoption of superior remedy techniques and favorable compensation regulations, which is the primary reason for the regional expansion. In addition, the growth in the senior and overweight population is expected to witness strong market expansion in this region.
Asia Pacific is anticipated to be the fastest-growing region in the Ambulance Services Market during the forecast period. Availability of a large affected person population in developing countries such as India and China witness the extensive growth of the Ambulance Services Market in this region.
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on "Ambulance Services Market Size, Share & Trends Analysis Report by Mode of Transportation (Air Ambulance, Ground Ambulance, Water Ambulance), by Services (Emergency Medical Services, Non-Emergency Medical Services), by Payer (Public, Private, Out-Of-Pocket), by End-Use (Hospitals, Nursing Homes, Home Healthcare Settings, Others), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
List of Prominent Players in the Ambulance Services Market:
Babcock Scandinavian Air Ambulance
Acadian Ambulance Service
BVG India Limited
America Ambulance Services
Falck Danmark
Air Methods
Ziqitza Health Care
Harmonie Ambulance
Aeromedevac
SHM Ship care
Recent Developments:
October 2020: Advatech Healthcare Europe, assisting in 24-hour medical transport for corporate organizations, governments, and individual clinics, introduced HIPPO Mobility, the United Kingdom's first technology-driven, asset-light, dedicated, and cost-effective transportation service for disabled, older, and non-emergency patients.
May 2021: Blade's Indian subsidiary, the United States-based helicopter transport service provider, introduced an air Ambulance Services Market amid a rise in demand.
Key questions answered in the report:
Which regional market will show the highest and rapid growth?
Which are the top five players of the Ambulance Services Market?
How will the Ambulance Services Market change in the upcoming six years?
Which application and product will take a lion’s share of the Ambulance Services Market?
What is the Ambulance Services market drivers and restrictions?
What will be the CAGR and size of the Ambulance Services Market throughout the forecast period?
This market titled “Ambulance Services Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
Parameter | Details |
Market Size Provided for Years | 2016-2028 |
Base Year | 2021 |
Historic Years | 2016-2020 |
Forecast Years | 2022-2028 |
Segments Covered | • Mode of Transportation |
Region & Counties Covered | • North America |
Companies Covered | • Babcock Scandinavian Air Ambulance |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, |
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