The global ambulance services market size is expected to reach USD 66.59 billion by 2028 according to a new study by Polaris Market Research. The report “Ambulance Services Market Share, Size, Trends, Industry Analysis Report, By Transport Vehicle (Ground Ambulance, Air Ambulance, Water Ambulance); By Equipment (Advanced Life Support Ambulance Services, Basic Life Support Ambulance Services); By Emergency Services; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Global rise in the geriatric population, which has low immunity levels and more prone to neurological disorders, cardiac ailments, spinal injuries, and bone degeneration diseases is projected to be a high impacting driver for market growth.
According to the estimates of the WHO, there would be around 1.5 billion old age people, by 2050. Old age people are highly susceptible to many diseases such as heart attacks, stroke, obesity, arthritis, and osteoporosis. People suffering from these diseases require emergency services, hence, an increase in the geriatric population is likely to complement the market growth.
Moreover, medical tourism is also supporting the market, owing to advancement in healthcare infrastructure and favorable reimbursement policies. For instance, according to the report “Export Health Services,” India had 58,300 individuals from abroad who received medical treatment.
Medical tourism agency based in China, CTRIP, reported that medical tourism in the country reported market growth of over 500 %, accounting for around 500,000 outbound medical tourists, in 2016. Medical tourism is considered a viable option for developed countries if the cost of treatment is comparatively higher in-home countries.
As per the “Patients Beyond Border” guidebook, the average spending on healthcare in most arrived nations is around 20-30 percent in Brazil, 45 – 65% in Costa Rica, 25 – 40% in Singapore, 30 – 45% in South Korea, 65-90 percent in India, 50 – 75% in Thailand, 65 – 80% in Malaysia, and 50 – 65% in Turkey. Hence, a surge in medical tourism, ambulance services are bound to rise over the market study period.
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Asia Pacific is projected to witness a lucrative growth rate over the study period. This growth is due to the presence of a huge untapped market, rise in road traffic accidents, and significant improvements in healthcare facilities. Moreover, road traffic injuries require EMS, coupled with strong government spending and improving accessibility in healthcare.
Market participants operating in the industry include Envision Healthcare, Acadian Ambulance Service, BVG India Limited, Ziqitza Healthcare Limited, London Ambulance Service NHS Trust, America Ambulance Services, Inc., AIR MEDICAL GROUP HOLDINGS, Falck Denmark A/S, Air Methods Corporation, and MEDIVIC AVIATION.
Polaris Market Research has segmented the ambulance services market report on the basis of transport vehicle, emergency services, equipment and region:
Ambulance Services, Transport Vehicle Outlook (Revenue – USD Million, 2016 – 2028)
- Ground Ambulance
- Air Ambulance
- Water Ambulance
Ambulance Services, Emergency Services Outlook (Revenue – USD Million, 2016 – 2028)
- Emergency Services
- Non-emergency Services
Ambulance Services, Equipment Outlook (Revenue – USD Million, 2016 – 2028)
- Advanced Life Support (ALS) Ambulance Services
- Basic Life Support (BLS) Ambulance Services
Ambulance Services, by Regional Outlook (Revenue – USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa