The ambulance market is set for a rapid growth over the forecast period. In terms of revenue, the global ambulance market accounted for USD 24,980.3 Million in 2019 and is expected to reach USD 51,103.1 Million by 2026, growing at a CAGR of 9.62%.
The ambulance market is set for a rapid growth over the forecast period. In terms of revenue, the global ambulance market accounted for USD 24,980.3 Million in 2019 and is expected to reach USD 51,103.1 Million by 2026, growing at a CAGR of 9.62%.
Global Ambulance Market: Overview
An ambulance is typically a medically equipped vehicle that take patients to treatment facilities, such as hospitals. Ambulances are used by emergency medical services to respond to medical emergencies. They are generally equipped with sirens and warning flash lights. They can quickly transport patients, equipment’s that are needed for administering emergency care and other definitive care with ease. Demand for ambulance services is on the increase due to favorable rebate policies, growing medical tourism, an increasing number of road accidents and an increasing geriatric population
Global Ambulance Market: Growth Factors
Road crashes are increasing rapidly and this is boosting the demand for medical care and ambulance services. A research study shows that nearly 1.3 million people die every year in road accidents and approximately 20-50 million get injured. Road accidents are among the top major cause of deaths across the globe. According to the Association for Safe International Road Travel, in the United States, every year nearly 37,000 people die due to road accidents and nearly 2.35 million people get either disabled or injured. In India the ratio of road accidents and deaths due to the same have increased by 2.5% and 4.6% respectively from 2014 to 2015. Moreover, it has been also reported that nearly 400 deaths are encountered per day in India. Thus, a traffic accident is one of the major factors driving the demand for medical equipment’s and emergency services, especially the need for emergency medical transportation is accelerating rapidly. Moreover, the rise in Covid-19 cases across the globe has also led a sharp increase in demand for ambulance. Apart from Covid-19, in general, according to British Heart Foundation, there are nearly 2 lakhs hospital visits per year due to heart attacks and approximately 40,000 deaths due to stroke in United Kingdom. The number has even increased after the sudden outbreak of Covid-19. These causes of deaths are among the top causes of death worldwide which highly demands medical care as soon as possible. Thus, the growth in cardiovascular diseases is predicted to bolster the demand for ambulance market.
Global Ambulance Market: Segmentation
The global Ambulance market can be segmented into type, mode of transport, equipment and region. By type, the market is segmented into emergency and non-emergency ambulance. Emergency ambulance held the largest share in the year 2019 and is also expected to grow at a fastest rate over the forecast period due to the growth in diseases such as stroke, congestive heart failure and cardiac arrest. The mode of transport segment covers ground, air and water ambulance service. Among these, ground type is estimated for the largest market share due to the high usage rates and effectiveness of ground ambulance services. Ground ambulance includes trucks, car/SUV, all-terrain vehicles, motorcycle, bicycle, bus and golf cart. Water and air ambulance transport are niche segments, but air ambulances are estimated to experience a lucrative growth in the near future due to the rising medical tourism in developing economies such as India, Brazil and others. Air ambulance transport includes airplanes, helicopters or fixed-wing aircraft that travels from the site of accident to the healthcare facilities. The equipment segment includes Basic Life Support Ambulance Service and Advanced Life Support Ambulance. The Advanced Life Support Ambulance is predicted to witness a rapid growth in the future, owing to increasing awareness regarding support services, technologically advanced equipment, and increasing rate of cardiovascular diseases. This covers a set of life saving protocols and skills that covers various advanced equipment’s for patients who might need extra care during transport such as potential airway-compromised patient, patient on cardiac monitor and obstetrical patients.
Global Ambulance Market: Regional Analysis
Based on regions, the global Ambulance market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America held the majority share of the market in the year 2019, owing to the factors such as growing demand for advanced healthcare facilities and infrastructure, favorable pricing & reimbursement laws and regulations in the healthcare sector. Asia Pacific is predicted to see the highest growth rate over the projected period. Some of the factors that are likely to drive the growth of the Asia Pacific market are the immense untapped market potential, developments in healthcare facilities and an increase in the number of road accidents. Furthermore, road traffic accidents require emergency medical services, which is likely to drive the growth of the Asia Pacific sector.
Global Ambulance Market: Competitive Players
Some of key players in Ambulance market are Babcock Scandinavian AirAmbulance, Acadian Ambulance Service, America Ambulance Services, BVG India Limited, Falck Danmark, Air Methods, Harmonie Ambulance, Ziqitza Health Care, Aeromedevac, and SHM Shipcare among others
Global Ambulance Market: Regional Segment Analysis
Road crashes are increasing rapidly and this is boosting the demand for medical care and ambulance services. According to British Heart Foundation, there are nearly 2 lakhs hospital visits per year due to heart attacks and approximately 40,000 deaths due to stroke in United Kingdom. The number has even increased after the sudden outbreak of Covid-19. These causes of deaths are among the top causes of death worldwide which highly demands medical care as soon as possible. Thus, the growth in cardiovascular diseases is predicted to bolster the demand for ambulance market.
According to Zion Market Research, the Ambulance market is expected to generate revenue of around USD 24,980.3 Million in 2019 and is expected to reach USD 51,103.1 Million by 2026, growing at a CAGR of 9.62%.
North America held the majority share of the market in the year 2019, owing to the factors such as growing demand for advanced healthcare facilities and infrastructure, favorable pricing & reimbursement laws and regulations in the healthcare sector.
Some of key players in Ambulance market are Babcock Scandinavian AirAmbulance, Acadian Ambulance Service, America Ambulance Services, BVG India Limited, Falck Danmark, Air Methods, Harmonie Ambulance, Ziqitza Health Care, Aeromedevac, and SHM Shipcare among others
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