The global Medical Transport Service Market accounted for USD 86 Billion in 2020 and is expected to reach USD 126 Billion by 2028, growing at a CAGR of 4.8% from 2021 to 2028.
Market Overview
The global Medical Transport Service Market accounted for USD 86 Billion in 2020 and is expected to reach USD 126 Billion by 2028, growing at a CAGR of 4.8% from 2021 to 2028.
The major factor driving the expansion of the Medical Transport Services market is that the rising healthcare complications requiring medical attention. Globally the amount of emergency hospital administration is on the increase. At an equivalent time, ambulances and therefore 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 a process involving routine checkups of the vehicles requires time hence to continue the services there should be additional vehicles or other substitute vehicles. Also, the upkeep cost incurred on vehicles and therefore the air ambulance is relatively high. Hence these factors are likely to limit the expansion of the market over the forecast period. Moreover advancing healthcare transport facilities is probably going to spice up the marketplace for Medical transport services over the forecast period.
COVID-19 Impact Analysis:
Worldwide, there's a growing concern about the negative effects of infectious COVID-19. The COVID-19 pandemic has triggered diseases and deaths, created immense confusion for the world, and modified the solid waste management profile. This has resulted in increased demand for medical transport services across the world. The pandemic has changed the behavioral and consumption patterns of people, resulting in a sudden change in the generation amount, composition, and disposal rate of municipal solid waste, depending on location. However, in response to the COVID-19 disaster, market players devised several business strategies, such as strategic agreements, technological advances, and partnerships to survive in their business. For example, in June 2020, Mahindra announced the launch of a BS-6 Supro ambulance equipped with a foldable cum trolley, medical supplies, air-conditioning system, advertising system, and indoor lighting. In addition, the growing popularity of air ambulance services, as well as a large number of private insurance patients are also expected to improve this market in the coming years.
Growth Factors
The demand for ambulance services is on an increase due to the favorable reimbursement policies, an increasing number of road accidents, rising medical tourism, and a growing geriatric population. Road accidents are rapidly increasing and such cases require immediate medical attention and ambulance services. Also, there has been an unceasing rise in life expectancy and more attention to quality. Consumers are progressively becoming more aware of their health and have started paying more attention to their quality lifestyles, hygiene and healthy diets, which has rushed the demand for Medical Transport Service across the globe.
Report Scope:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
End User Segment Analysis Preview
Hospitals account for the very best market share of the worldwide medical transport services market by end-user segment. The worldwide market share of hospitals in 2017 was 45% and is probably going to succeed in the USD 43.2 billion by end of 2022. As most of the patients requiring emergency medical services are taken to hospitals due to better and advanced healthcare facilities as compared to clinics and ambulatory surgical centers, Hospitals contribute the utmost market share.
Type Segment Analysis Preview
The 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. within recent years, medical transport service has achieved a growing appreciation and is a crucial part of any medical health care program.
Medical product transport involves the transportation of the medical products from the manufacturer to the user. The segment is dominating and is estimated to grow at a healthy CAGR from 2021 till 2028. Patient transport is another lucrative segment that is growing at a better CAGR of 4% 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 non-emergency transportation across the globe.
Regional Analysis Preview
North America was the dominating area for the Medical Transport Service Market in 2020 in terms of income creation. North America was chased by Europe on the back of the availability of enhanced infrastructure and technology. North America adds up to almost 40% of the entire market share for the global Medical Transport Service Market. In addition to this, the Medical Transport Service Market has a huge chance in up-and-coming areas such as Latin America and the Asia Pacific owing to the government & public awareness, government initiatives, increasing aging population, and healthcare infrastructure.
Key Market Players & Competitive Landscape
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.
The global Medical Transport Service market is segmented as follows:
By Type
By End User
By Region
List of Figures
FIG NO. 1. Market Attractiveness Analysis, By Type
FIG NO. 2. Market Attractiveness Analysis, By End User
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Medical Transport Service Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Type, 2020 & 2028
FIG NO. 7. Global Medical Transport Service Market for Medical Products Transport, Revenue (USD Billion) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Medical Transport Service Market for Medical Products Transport, By Country, 2020 & 2028
FIG NO. 9. Global Medical Transport Service Market for Incubator Transport, Revenue (USD Billion) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Medical Transport Service Market for Incubator Transport, By Country, 2020 & 2028
FIG NO. 11. Global Medical Transport Service Market for Mobile Treatment Facilities , Revenue (USD Billion) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Medical Transport Service Market for Mobile Treatment Facilities , By Country, 2020 & 2028
FIG NO. 13. Global Medical Transport Service Market for Patient Transport (Ambulance & Helicopter), Revenue (USD Billion) 2016 – 2028
FIG NO. 14. Comparative Revenue Analysis of Medical Transport Service Market for Patient Transport (Ambulance & Helicopter), By Country, 2020 & 2028
FIG NO. 15. Market Revenue Share, By End-User, 2020 & 2028
FIG NO. 16. Global Medical Transport Service Market for Hospitals, Revenue (USD Billion) 2016 – 2028
FIG NO. 17. Comparative Revenue Analysis of Medical Transport Service Market for Hospitals, By Country, 2020 & 2028
FIG NO. 18. Global Medical Transport Service Market for Private Paying Customers , Revenue (USD Billion) 2016 – 2028
FIG NO. 19. Comparative Revenue Analysis of Medical Transport Service Market for Private Paying Customers , By Country, 2020 & 2028
FIG NO. 20. Global Medical Transport Service Market for Nursing Care Facilities , Revenue (USD Billion) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of Medical Transport Service Market for Nursing Care Facilities Country, 2020 & 2028
FIG NO. 22. Global Medical Transport Service Market for Medical Centers, Revenue (USD Billion) 2016 – 2028
FIG NO. 23. Comparative Revenue Analysis of Medical Transport Service Market for Medical Centers, By Country, 2020 & 2028
FIG NO. 24. Global Medical Transport Service Market Revenue Share, By Region, 2020 & 2028
FIG NO. 25. North America Medical Transport Service Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 26. Porter’s Five Forces Analysis for Global Medical Transport Service Market
FIG NO. 27. PEST Analysis for Global Medical Transport Service Market
FIG NO. 28. Pricing Analysis for Global Medical Transport Service Market
FIG NO. 29. Value Chain Analysis for Global Medical Transport Service Market
FIG NO. 30. Company Share Analysis, 2019
FIG NO. 31. Radar Determinant Chart, 2019
FIG NO. 32. Company Strategic Developments – Heat Map Analysis
FIG NO. 33. Business Segment Revenue Share, 2020 (%)
FIG NO. 34. Geographical Segment Revenue Share, 2020 (%)
FIG NO. 35. Market Channels
FIG NO. 36. Marketing Channel Development Trend
FIG NO. 37. Growth in World Gross Product, 2008-2018
FIG NO. 38. Research Methodology – Detailed View
FIG NO. 39. Research Methodology
List of Tables
TABLE NO. 1. Global Medical Transport Service Market : Snapshot
TABLE NO. 2. Quarterly Medical Transport Service Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Medical Transport Service Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
TABLE NO. 6. Global Medical Transport Service Market for Medical Products Transport, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Medical Transport Service Market for Incubator Transport, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Medical Transport Service Market for Mobile Treatment Facilities , by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global Medical Transport Service Market for Patient Transport (Ambulance & Helicopter), by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global Medical Transport Service Market for Hospitals, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 11. Global Medical Transport Service Market for Private Paying Customers , by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12. Global Medical Transport Service Market for Nursing Care Facilities, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 13. Global Medical Transport Service Market for Medical Centers, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 14 Global Medical Transport Service Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 15. North America Medical Transport Service Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 16. North America Medical Transport Service Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 17. North America Medical Transport Service Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 18. U.S. Medical Transport Service Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 19. U.S. Medical Transport Service Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 20. Canada Medical Transport Service Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 21. Canada Medical Transport Service Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 22. Mexico Medical Transport Service Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 23. Mexico Medical Transport Service Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 24. Drivers for the Medical Transport Service Market : Impact Analysis
TABLE NO. 25. Restraints for the Medical Transport Service Market : Impact Analysis
TABLE NO. 26. Major Buyers
TABLE NO. 27. Distributors/Traders List
TABLE NO. 28. Global Medical Transport Service Market , Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 29: Global Medical Transport Service Market , Company Y-o-Y Growth, 2017 – 2019 (USD Billion)
This report is based on in-depth qualitative and quantitative analyses of the global Medical Transport Services market. Zion Market Research has collected and analyzed key data belong to the global Medical Transport Services market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Medical Transport Services across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Medical Transport Services industry. Primary research makes up the major source of data collection and validation.
Primary Research
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary Research
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Medical Transport Services market.
Models
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Request the coronavirus impact analysis across industries and markets
The global Medical Transport Service Market was valued at USD 86 billion in 2020.
The global Medical Transport Service Market is expected to reach USD 126 billion by 2028, growing at a CAGR of 4.8% between 2021 to 2028.
The ambulance services market will show a sharp rise due to the new ambulance service providers globally, the increasing number of accidents and the introduction of the latest ambulances, and the huge increase in hospitals due to the epidemic.
North America in 2020 ruled the Medical Transport Service Market and was believed to be the highest income-generating area all over the globe.
The major market players in the Medical Transport Services Market are ARAMARK Healthcare, ATS Healthcare Solution, Crothall Healthcare among others.
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