With the emergence and long-term Impact of COVID-19, the Global Ambulance Services Market to reach USD 83.6 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Ambulance Services Market is poised to raised USD 83.6 billion by 2030. Ambulance services refer to the emergency medical services (EMS) that provide transportation and medical assistance to individuals who need urgent medical care. The main purpose of ambulance services is to provide rapid medical response to individuals who are experiencing a medical emergency, such as a heart attack, stroke, or severe injury.
The demand for ambulance services has grown as a result of a growth in the number of serious accidents, persons with various chronic ailments, and the elderly. Over the course of the projected period, it is also anticipated that the growth in medical tourism and the availability of reimbursement schemes will increase demand for ambulance services. A significant portion of the population over the age of 60, who often have a reduced immunity level and are more susceptible to neurological disorders, cardiac issues, cancer, and spinal injuries, is also anticipated to have a strong impact on the market’s growth over the projected period.
For instance, the Department of Economic and Social Affairs of the United Nations projects that by 2050, about 1 in 6 of the world’s population would be over 65. Additionally, according to a comparable estimate, there were 703 million persons over 65 in the world. Therefore, the market for ambulance services is projected to expand as the senior population grows.
For instance, Accretion Aviation had a 20% increase during the COVID-19 outbreak, according to Quartz India. However, it is anticipated that as the number of COVID-19 patients declines, so will the demand for ambulance services. As a result, the market is anticipated to experience a little fall in 2022–2023. Even though the market for ambulance services has shrunk, significant growth is expected over the next few years. This can be attributable to an increase in ambulances over the course of COVID-19. For instance, the Mint reported that Ziqitza Healthcare would give the Madhya Pradesh (India) government 200 extra ambulances during the COVID-19 period.
Thus, aforementioned factors are expected to be responsible for the growth of ambulance services market. However, the regulatory hurdles regarding Ambulance Services stifles market growth throughout the forecast period of 2023-2030.
The regional analysis of the global Ambulance Services Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World (ROW). North America dominated the market for ambulance services and generated the biggest revenue share. The existence of multiple major market participants in this area, the rising demand for high-quality healthcare services, the region’s well-established healthcare infrastructure, and favourable reimbursement policies and regulatory reforms in the healthcare industry are all contributing factors to the expansion.
Nevertheless, the Asia Pacific region is anticipated to see the fastest CAGR of 12.42% throughout the course of the projection period. The increase in the elderly population in nations like China, India, and Japan is responsible for the growth rate. For instance, according to the Statistics Bureau of Japan, 36.19 million people in Japan were 65 years of age or older in 2020, making up around 28.8% of the country’s overall population. Similar to China, the WHO predicts that by 2040, there will be 28% of seniors in the country. Because seniors are more likely to suffer from various illnesses, the Asia Pacific area is forecast to experience the quickest growth rate.
The Global Ambulance Services Market is highly competitive owing to the presence of several key manufacturers such as Babcock International Group PLC, London Ambulance Service NHS Trust, Acadian Ambulance Service, BVG, America Ambulance Service, Inc., Falck A/S, Global Medical Response, Air Methods Corporation, ZIQITZA HEALTHCARE LIMITED, Medivic Ambulance.
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Global Ambulance Services Market Size study & Forecast, by Transport Vehicle (Ground Ambulance, Air Ambulance, Water Ambulance) by Emergency Services (Emergency Services, Non-emergency Services) by Equipment (Advance Life Support (ALS) Ambulance Services, Basic Life Support (BLS) Ambulance Services) and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Ambulance Services Market is anticipated to grow with a healthy growth rate of more than 9.9% over the forecast period 2023-2030
- In the Application segment, Ground Ambulance emerged as the leading market segment in 2022.
- North America dominated the market for ambulance services and generated the biggest revenue share. The existence of multiple major market participants in this area, the rising demand for high-quality healthcare services, the region’s well-established healthcare infrastructure, and favourable reimbursement policies and regulatory reforms in the healthcare industry are all contributing factors to the expansion.
- Asia-Pacific is expected at a high CAGR followed by North America during 2023-2030
Bizwit Research & Consulting has considered the following segments for the study:
By Transport Vehicle:
- Ground Ambulance
- Air Ambulance
- Water Ambulance
By Emergency Services:
- Emergency Services
- Non-emergency Services
- Advance Life Support (ALS) Ambulance Services
- Basic Life Support (BLS) Ambulance Services
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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