Medical Transport Services Market By Type (Medical Products, Incubator Transport, Mobile Treatment Facilities, and Patient Transport); By End User (Hospitals, Private Paying Customers, Nursing Care Facilities, and Medical Centers): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2022

Global Medical Transport Services Market is expected to reach USD 42.0 Billion by 2024 & is expecting to exhibit a CAGR of more than 6.8% between 2017 and 2022.

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01-Feb-2018 | Number of pages: 106 | Report Code: ZMR-2567 | Report Format : | Status : Published

Abstract

Report Brief
•    The report covers forecast and analysis for the Medical Transport Services market on a global and regional level
•    The report includes the positive and the negative factors that are influencing the growth of the market
•    Detailed information about the market opportunities are discussed
•    The key target audience for the market has been determined in the report
•    The revenue generated by the prominent industry players has been analyzed in the report
•    The market numbers have been calculated using top-down and the bottom-up approaches 
•    The Medical Transport Services market has been analyzed using Porter’s Five Forces Analysis
•    The market is segmented on the basis of product and application, which in turn bifurcated on regional level as well
•    All the segments have been evaluated based on the present and the future trends
•    The report deals with the in-depth quantitative and qualitative analyses of the Medical Transport Services market
•    The report includes the detailed company profiles of the prominent market players

Market Summary

Overview

Medical Transport Services market includes the transport services of patients as well as medical products. Global Medical Transport Services market belongs to the parent market “Transport services market”.  The medical transport services include patient transport, Incubator transport, mobile treatment facilities and medical products transport. In the recent years, medical transport service has achieved growing appreciation and is an important part of any medical health care program.

Value

The global Medical Transport Services market was valued at around USD 65.0 billion in the year 2016 and it is expected to reach approximately USD 95.0 billion by 2022. The global Medical Transport Services market is expected to grow at a CAGR of over 6.7% between 2017 and 2022.

Drivers and Restraints

The major factor driving the growth of Medical Transport Services market is the rising healthcare complications requiring medical attention. Globally the number of emergency hospital administration is on the rise. Alone in the United States, more than 131 million patients required some kind of medical emergency service in the year 2011. In the year 2014, more than 141 million patients required the same kind of medical emergency service. Out of the complete visiting patient pool, more than 13% of the patient used ambulance facility. Moreover advancing healthcare transport facilities is likely to boost the market for Medical transport services over the forecast period.

At the same time, ambulances and the vehicles that are used for the transportation of the patients and other medical goods needs regular servicing and quality check by the transport regulatory bodies of the respective regions. Such process involving routine checkups of the transportation vehicles require time hence in order to continue the services there should be additional vehicles or other substitute vehicles. Also, the maintenance cost incurred on vehicles and the air ambulance is comparatively high. Hence these factors are likely to restrict the growth of the market over the forecast period.

Medical Transport Services Market

 

Market Segmentation

Medical product transport involves transportation of the medical products from the manufacturer to the end user. It is the dominating the product type segment and is estimated to grow at a CAGR of 6.6% from 2017 till 2022. Followed by the medical product transport, patient transport is another lucrative segment which is growing at a higher CAGR of 6.9% over the forecast period. The major growth factor for the growth of patient transport services is the rising number of patients requiring emergency as well as nonemergency transportation across the globe. Ambulance type sub-segment of Patient transport is likely to register a CAGR of 6.9% owing to the fact that in comparison to air ambulance is more expensive than the vehicle ambulance.

Hospitals account for the highest market share of the global medical transport services market by end-user segment. The global market share of hospitals in 2016 was 44.4% and is likely to reach the USD 43.2 billion by end of 2022. As most of the patients requiring emergency medical services are taken to hospitals owing to better and advanced healthcare facilities in comparison to clinics and ambulatory surgical centers, Hospitals contribute the maximum market share.

Owing to the advanced healthcare facilities and regularized road traffic condition, North America contributes the highest market share of the global medical transport service market and likely to grow at a CAGR of 6.6% from 2017 till 2022.

Industry Players

The report includes detailed profiles of the prominent market players that are trending in the market. The list of the players that are compiled in the report ARAMARK Healthcare, ATS Healthcare Solution, Crothall Healthcare among others.
The prominent market players maintain the competitive edge in the global market by making investments in the mergers and acquisitions and by increasing their product portfolio. In March 2017, American Medical Response and Lyft Announce Partnership to Provide Non-Emergency Medical Transportation Services for Patients. In October 2016, ATS Healthcare has developed coast to coast temperature management services with mission-critical pharmaceutical shipments in mind.


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