TMR’s report on the global ambulance services market studies the past as well as current growth trends and opportunities to gain valuable insights of the same indicators for the said market for the forecast period of 2019 to 2027.
Ambulance Services Market – Scope of the Report
TMR’s report on the global ambulance services market studies the past as well as current growth trends and opportunities to gain valuable insights of the same indicators for the said market for the forecast period of 2019 to 2027. The report provides the overall market revenue of the global ambulance services market for the period of 2017–2027, with 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global ambulance services market during the forecast period.
The report has been prepared after extensive primary and secondary research. Primary research involves bulk of the research efforts, wherein, analysts carry out interviews with industry leaders and opinion makers. Extensive secondary research involves referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global ambulance services market.
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Ambulance Services Market: Introduction
Transparency Market Research has published a new report on the ambulance services market. According to the report, the global ambulance services market was valued at ~US$ 39 Bn in 2018. The ambulance services market is expected to expand at a CAGR of ~4% during the forecast period of 2019 to 2027.
Ambulances help rescue injured or medically ill patients by transporting them to medical treatment centers. Established and new players are launching new and advanced ambulances and services to provide high level of comfort and medical services to patients. This is expected to drive the ambulance services market. For example, in 2019, in India, the State Government Health Department of Odisha launched the first ever boat ambulance service at Batighar in Kendrapara district. In Odisha, a large number of riverside villagers still depend on passenger boats, which are not available at night. This boat ambulance service helps them during medical emergencies. The government is planning to launch five more such boats at end of this year.
In terms of mode of transport, the ground ambulances segment held a major share of the global ambulance services market in 2018. This segment is likely to maintain its dominance during the forecast period. The ground ambulances segment is projected to be the most attractive segment during the forecast period. It is the most widely used method of emergency medical service, and is anticipated to offer lucrative opportunities, especially in developing countries.
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Global Ambulance Services Market: Prominent Regions
North America held a major share of the global ambulance services market in 2018. This can be attributed to increase in the adoption of advanced treatment approaches, and favorable reimbursement policies due to increase in geriatric and obese populations that are more susceptible to various chronic and acute diseases.
Europe held the second-largest share of the global ambulance services market in 2018. Major markets in Europe include Germany, France, the U.K., Spain, and Italy. According to the European Commission (EC), around 100 million people in Europe suffered from one or more physical disability in 2015, and this number is likely to increase during the forecast period due to rise in the incidence of accidents. This is likely to increase the demand for ambulances for transportation to hospitals. Therefore, the ambulance services market is anticipated to witness strong growth in Europe during the forecast period.
Asia Pacific accounted for a significant share of the global ambulance services market in 2018, and this market is expected to grow at rapid pace during the forecast period. Major markets in Asia Pacific include Australia & New Zealand, India, China, and Japan. Japan is a mature market for ambulance services due to the presence of various government rebates and favorable reimbursement policies for availing ambulance services by patients. The National Health Insurance (NHI) and Employees’ Health Insurance (EIS) Systems of Japan help provide reimbursements for the ambulance services fees entailed. Economic development in various countries such as India and China has led to rise in the disposable income of the population, which, in turn, has increased the affordability for various medical services by the patient population.
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Global Ambulance Services Market: Key Players
Key players are expanding their footprint to strengthen their position in the global ambulance services market. Increase in the patient population and rapidly increasing number of trauma cases offer lucrative opportunities to key players to increase their share in the ambulance services market. Manufacturers engage in strategic acquisitions, collaborations, and distribution to expand their market share in the ambulance services market.
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