Ambulance Services Market Size To Touch USD 95.1 Bn By 2032

Published Date : 23 Jan 2023

The global ambulance services market size was exhibited at USD 33.58 billion in 2022 and it is expected to touch over USD 95.1 billion by 2030, growing at a CAGR of 13.9% between 2022 and 2030.

An ambulance is a vehicle used to take ill or injured people to the hospital. It is used by the patient, which requires medical transportation. Nowadays, the ambulance is infused with advanced technology to support patients during emergencies. Both public and private emergency ambulance services are available worldwide for the patient to save them during critical conditions. Patients with physical disabilities need ambulance services to go to the hospitals for treatment or examination. 

An ambulance service is a perfect solution when someone needs medical help late at night. The out-of-hospital medical care is provided to the patient in the ambulance during transportation. Ambulances are used to provide emergency medical services. There are various types of ambulances, vans, four-wheel drives, motorbikes, buses, airplanes, and helicopters. Air ambulances and helicopter ambulances are used in remote areas. 

Ambulances include spine boards, oxygen and oxygen masks, cervical (neck) collars, stretchers, defibrillators, splints, bandages, and a range of drugs and intravenous fluids. Ambulances have a trained crew. A paramedic is a professional who provides emergency medical care to individuals who need it. An ambulance service is needed when a person is experiencing a suspected heart attack, has chest pain or chest tightness, has weakness, numbness, or paralysis of the face, arm, or leg, has breathing difficulties, unconsciousness, falls from a great height, severe burn, sudden and severe abdominal pain, road accident, etc. It is a vital part of the emergency medicine department.  

Growth Factors

The global market is majorly driven by the increasing incidence of traumatic accidents and the rising number of people suffering from various chronic diseases. The growing geriatric population and the rise in medical tourism significantly contribute to market growth. The availability of reimbursement policies and a surge in traumatic accidents worldwide boost the demand for ambulance services over the forecast period. Many people are hospitalized due to injuries such as road accidents, burns, and falls. 

The escalating road accidents and the surging prevalence of cardiovascular diseases, such as congestive heart failure, stroke, cardiac arrest, and coronary artery diseases, raise the demand for ambulance services. The rising incidence of cardiovascular diseases bolsters the growth of the market. The presence of a large population pool who are prone to neurological diseases, cardiac problems, cancer, and spinal injuries, drives the market growth. The developments in healthcare infrastructure and favorable reimbursement policies create a positive outlook for the market. Expanding medical tourism propels the market growth. The COVID-19 pandemic increased the demand for ambulance services. 

The aforementioned factors are expected to drive market growth. The rising frequency of traffic accidents and the high demand for emergency health services favors market growth. The emergence of air ambulance services and the introduction of multi-specialty ambulances bolster market growth. The implementation of favorable government policies to encourage public health and the improvements in healthcare infrastructure boost the overall market growth.  

Ambulance Services Market Report Scope

Report Coverage Details
Market Size in 2022 USD 33.58 Billion
Market Size by 2030 USD 95.1 Billion
Growth Rate from 2022 to 2030 CAGR of 13.9%
Base Year 2022
Forecast Period 2022 to 2030
Segments Covered By Transport Vehicle, By Services, By  Equipment
Regions Covered  North America, Europe, Asia-Pacific, Latin America and Middle East & Africa

Report Highlights: 

Based on the transport vehicle, the ground ambulance segment dominated the market. The ground ambulance is used to transport patients via road to hospitals with resources. The air ambulance segment is expected to witness a promising CAGR due to the increasing demand for air ambulance to rescue critically ill or injured patients. 

Based on the services, emergency services dominated the market due to the increasing prevalence of cardiovascular disorders such as cardiac arrest, heart failure, and stroke. The non-emergency services are expected to witness a promising CAGR. These services are those which are already planned. 

Based on the equipment, advanced life support (ALS) dominated the market due to the rising awareness of life support services. The increasing incidence of cardiovascular illnesses and the launch of technologically advanced equipment drives the segment's growth. Basic life support (BLS) is expected to witness a promising CAGR. It has the best medical equipment, such as pulse oximetry, blood pressure monitoring equipment, oxygen delivery services, an automatic external defibrillator, and nurses.  

Regional Snapshots 

Based on the region, North America dominated the market. It accounted for the largest revenue share due to the presence of numerous market players and expanding demand for high-quality healthcare services. The healthcare industry's well-established healthcare infrastructure, favorable reimbursement policies, and favorable regulatory frameworks catalyze market growth. 

On the other hand, Asia Pacific is expected to witness the fastest-growing CAGR in the coming years due to improved healthcare facilities and an increase in the incidence of road accidents.  

Market Dynamics: 

Driver: Surge in the number of accidents 

The increasing number of road traffic accidents significantly contributes to market growth. In line with this, the entry of new ambulance service providers positively influences market growth. The highly equipped ambulances catalyze market growth. The favorable reimbursement policies and the strengthening healthcare infrastructure propel the market growth. 

The increasing demand for emergency ambulance services and the widespread availability of air ambulance services create a positive outlook for the market. The introduction of new ambulances with the latest technology strengthens the market growth. The rapid adoption of commercial and personal vehicles favors market growth. 

The increasing need for immediate hospital visits and the surge in the number of accidents bolster the market growth. The improving healthcare reforms, the rising geriatric population, the growing number of patients with physical disabilities such as immobility, and high healthcare expenditure positively influence market growth. The launch of new and advanced ambulances and services fosters growth.  

Opportunity: Growing medical tourism in the developing regions 

The growing medical tourism in developing countries offers lucrative opportunities for market growth. The favorable reimbursement policies across the globe catalyze market growth. The rising number of road accidents in developing regions propels the market growth. The increasing incidence of chronic diseases and the growing geriatric population bolster market growth. 

The increasing demand for ground and air ambulance services boosts the overall market growth. The growing adoption of ambulance services and the surging healthcare spending in developing countries accelerate the market growth. The growing demand for high-quality healthcare facilities and advanced healthcare infrastructure positively influences market growth. The market players are adopting various organic as well as inorganic growth strategies to maintain their market position. 

Restraint: Stringent government regulations 

The stringent government regulations restrict the ambulance services market growth. Furthermore, the lower medical reimbursement rates hamper the market growth. The stringent regulations for ambulance license and the high cost of ambulance services impedes the market growth. 

Challenge: Shortage of ambulances and proper medical staff 

The shortage of ambulances and proper medical staff, especially in developing and underdeveloped countries, challenges market growth. The lack of healthcare infrastructure also limits the market growth.  

Key Developments: 

  • In October 2020, Advatech Healthcare launched HIPPO Mobility. It is the U.K.’s first technology-driven, specialized, cost-effective transportation service for disabled, elderly, and non-emergency patients. 
  • In September 2019, Gama Aviation Scotland introduced Helicopter Air Ambulance Services to increase the total air ambulance base in the U.K. and Europe. 
  • In August 2019, AirLife, North Carolina, opened a new base at the Lumberton Rescue Squad in Lumberton, N.C. 

Major Key Players:

  • Acadian Ambulance Service
  • America Ambulance Services Inc.
  • Air Medical Group Holdings Inc.
  • Air Methods Corporation
  • BVG India Ltd.
  • Envision Healthcare
  • Falck Denmark A/S
  • MEDIVIC Aviation
  • London Ambulance Services NHS Trust
  • Ziqitza Healthcare Ltd. 

Market Segmentation

By Transport Vehicle

  • Ground Ambulance
  • Air Ambulance
  • Water Ambulance

By Services

  • Emergency Services
  • Non-emergency Services

By Equipment

  • Advance Life Support Ambulance Services (ALS)
  • Basic Life Support Ambulance Services (BLS)

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