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The global outbreak of COVID-19 has positively affected the global ambulance services market. The growth of the global ambulance services market is significantly driven by increasing road accident injuries, the presence of a huge patient pool suffering from various chronic diseases, and the adoption of technological advancements. Due to the COVID-19 health emergency, the majority of the significant manufacturers are concentrating on multiple strategies to defeat the COVID-19 pandemic. For instance, in June 2020, Mahindra has made an announcement of launching BS-6 Supro ambulance, during the pandemic crisis. The ambulance is designed with all necessary equipment including a medical kit box, foldable stretcher cum trolley, fire extinguisher provision for an oxygen cylinder, coupled with an announcement system and internal lighting. In addition to this, in July 2020, Ziqitza Healthcare Ltd (ZHL), Asia’s significant emergency medical service provider has made an announcement that the company will operate into Corporate Wellness services. The ZHL has signed up around 50 corporates from several sectors such as manufacturing companies, E-commerce, IT, insurance, real estate, and others. The organization is aiming to provide turnkey solutions such as ambulance at Site, telehealth services for employees, doctors on site, and many among others. These elements may offer positive opportunities for the growth of the global ambulance services market, during the analysis period. By adopting such strategies, the ambulance services manufacturers across the world are preparing for the post-pandemic impact.
During the chaotic situation of COVID-19, we are helping our clients in understanding the impact of COVID-19 on global ambulance services. Our report includes:
As per the recently published report of Research Dive, the global ambulance services market is set to register a revenue of $34.8 billion by 2027, at a CAGR of 1.2% during the forecast timeframe. The segmentation of the market has been done on the basis of mode of transportation, services, payers, end-use, and region. The report provides key insights on driving factors, future opportunities, segments, restraints, and key manufacturers in the global ambulance services market.
As per our analyst estimates, significantly increased prevalence of chronic diseases along with rising road accident injuries are some of the key factors fueling the global ambulance services market growth. On the other hand, the high costs of air ambulances is one of the elements anticipated to restrain the growth of the ambulance services market.
Based on a transport vehicle, the global market for ambulance services is categorized into air ambulance services, ground ambulance services, and water ambulance services. The air ambulance services are valued at $4.0 billion and are expected to rise at a 0.7% CAGR by the end of 2027; owing to increasing emphasis on medical tourism in developed as well as developing countries.
Depending on the services the global market is mainly bifurcated into non-emergency medical services and emergency medical services. The market size for emergency medical services valued at $22.6 billion in 2027 and is projected to upsurge at a 0.6% CAGR during the forecast period. The significantly growing prevalence of CVD’s (cardiovascular diseases) such as stroke congestive heart failure, and cardiac arrests.
On the basis of the payer, the global ambulance market is classified into public, private, out of pocket. The public payers held the dominating market share and are estimated to register a revenue of $13.3 billion in 2027 at a CAGR of 1.0% during the forecast period. On the other hand, the private payer will be the fastest-growing segment and is valued at $11.6 billion in 2027, at a growth rate of 1.7%, throughout the analysis timeframe.
Based on end-use, the global ambulance services market is classified into hospitals, nursing homes, home healthcare settings, and others. The hospital segment will have significant market growth and is estimated to register a revenue of $19.4 billion in 2027 at a 1.4% CAGR, during the forecast period. Extensively increased rate of hospital admissions along with a growing emphasis on the improvement of healthcare infrastructure is anticipated to fuel the growth of the segment, during the forecast period.
Based on the geographical region, the global ambulance services market is classified into North America, Europe, Asia Pacific, and LAMEA. The Asia-Pacific Ambulance services market valued at $9.0 billion in 2027 and is expected to surge at a 1.6% CAGR, throughout the forecast timeframe. The rising number of road accidents, the growing emphasis on enhancement healthcare facilities, and heavy investments in technological innovations particularly in India, South Korea, and Australia are some of the driving factors of the Asia-Pacific ambulance services market.
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