The global Ambulance Services Market size is expected to reach USD 82.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.8% from 2022 to 2030. Rising cases of chronic disorders such as cardiovascular disorders, an increase in the global geriatric population, and rising cases of traumatic accidents are expected to be the key driving factors for the market.
The growth of the market is due to favorable
reimbursement policies in developed nations. In the U.S., Medicare covers both
emergency and non-emergency ambulance services for medically necessary cases,
given that the supplier fulfills stipulated requirements. In some cases,
Medicare also covers irregular and unscheduled non-emergency trips. Medicare
covers around 80.0% of the amount for emergency services while the remaining
20.0% is covered by the insurance policy of the patient.
Moreover, there has been a constant increase in the
number of traumatic accidents globally. For instance, as per Association for
Safe International Road Travel, around 1.35 million people die due to road
accidents, whereas 20-25 million people suffer injuries leading to permanent
disability. Thus, with the rising number of road accidents, the demand for air
ambulances is expected to increase, thereby impelling the market.
Furthermore, the market witnessed a tremendous spike
during the COVID-19 pandemic. For instance, as per Maharashtra Emergency
Medical Service (MEMS), during the second wave of COVID-19, there was a 33%
spike from 2020 and an 18% increase from the pre-pandemic period. Additionally,
with a decline in COVID-19 cases, the demand for ambulance services might affect
negatively during the year 2022-2023. However, the market is expected to grow
at a significant pace post-2023. This can be attributed to the increasing
number of ambulances globally. For instance, as per The Hindu, in May 2021, the
Greater Chennai Corporation launched 250 COVID-19 special ambulances for 15
zones of the city.
Related Press Release@ Ambulance Services Market Report
Ambulance Services Market Report
Highlights
- On the basis of transport vehicles, the ground ambulance segment
dominated the market and accounted for a revenue share of 48.7% in 2021.
This can be attributed to rising accident cases globally
- Based on emergency services, the emergency services segment is
projected to witness the fastest CAGR of 10.1% during the forecast
duration
- On the basis of equipment, the advanced life support ambulance
segment is expected to dominate the market in 2021 and is also projected
to witness the fastest growth over the forecast period
- North America is expected to dominate the market in 2021, whereas,
Asia Pacific is anticipated to witness a CAGR of 12.4% over the forecast
period, owing to the rise in chronic disorders and geriatric population in
this region
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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