Ambulance Services Market Size to Generate a Revenue of $94,204.9 Mn by 2031Download Sample Reports Overview
The Global Ambulance Services Market Size is predicted to be valued at $94,204.9 million by 2031, surging from $40,625 million in 2021, at a noteworthy CAGR of 8.9%.
Impact Analysis of COVID-19 on the Ambulance Services Market
The COVID-19 pandemic has led to severe disruptions that have affected the demand and availability of ambulance services during the pandemic time period. The COVID-19 pandemic positively impacted the ambulance services market. COVID-19 has overloaded healthcare systems worldwide. Therefore, the importance of quick and precise identification, strengthened by proactive methods for formulating suitable care and decision-making, continues to be a top concern. Ambulance services have long struggled to ensure prompt ambulance allocation and subsequent conveyance decisions based on clinical perception. These issues have become more pressing during COVID-19 as ambulance services have struggled to balance supply and demand during times of extreme stress. Due to the COVID-19 public health emergency, the majority of ambulance manufacturers were focused on various tactics to stop the spread of the COVID-19 pandemic.
For instance, Ziqitza Healthcare Ltd. (ZHL), a medical service provider, announced in July 2020 that the firm will expand into corporate wellness services. About 50 corporations from a variety of industries, including manufacturing, IT, insurance, E-commerce, real estate, and others have joined ZHL. The business offers complete solutions, including on-site doctors, telehealth services for workers, ambulances, and more. During the analysis period, these factors may present favorable possibilities for the expansion of the global ambulance services market share.
Global Ambulance Services Market Analysis
Ambulance services aim to either give treatment to people in need of immediate medical attention with the intention of successfully treating the ailment or to make arrangements for the patient's prompt transfer to appropriate care. This is most likely a casualty at a hospital or another location where doctors are available. The phrase emergency medical service was developed to describe a system in which actual medical care was provided in addition to transportation, moving from a straightforward transportation system ambulance service. Since the service in question just provides transportation to the location of care, there are some emerging regions where the term is not used or may be used incorrectly. These are the factors anticipated to boost the ambulance services market size during the analysis timeframe.
The patient and the paramedic may undergo significant trauma and stress during ambulance transport. The patient compartment is intended to be isolated from road surface-induced vibrations by the stock suspension, although complete vibration isolation is not achieved. In addition to the stock suspension of the chassis they acquired, ambulance manufacturers do nothing to reduce the vibrations that are imposed onto patients by variations in the road's surface. Road surface-induced vibrations have an effect on a patient's care on a different level. They make paramedics less able to diagnose and treat patients. In addition, it might affect the body's essential processes, some of which may already be damaged. Road-induced vibrations specifically damage the respiratory system, central nervous system, skeleton, and cardiovascular system. These factors are anticipated to hinder the ambulance services market growth.
GPS-enabled ambulances equipped with cameras and portable ECG devices can send important information to doctors and emergency rooms before the patient arrives at the hospital. According to one estimate, the likelihood of life is reduced by 7–10% for every minute that emergency care is delayed. As a result, another crucial element that digitalization has made possible is the ability to assign ambulances to the patient from the closest site, speeding up, and tracking the entire process. Also, it promotes sharing information with all the users to provide comprehensive emergency medical services.
Global Ambulance Services Market, Segmentation
The global ambulance services market revenue is segmented based on the mode of transportation, service type, emergency ground ambulance, operating type, and region.
Mode of transportation:
The mode of transportation segment is further classified into an air ambulance, ground ambulance, and water ambulance. Among these, the ground ambulance sub-segment accounted for a dominant market share in 2021. A ground ambulance is one that transports patients who are expected to require special treatment, emergency care, or non-emergency medical care either at the patient's location or while they are in the ambulance.
The service type segment is further classified into emergency medical transport and non-emergency medical transport. Among these, the emergency medical transport sub-segment had a dominant market share in 2021. Emergency transport is often utilized to bring a patient to a hospital as soon as possible. Medical transport entails transporting someone who needs or desires medical attention throughout the travel. The circumstance is the primary distinction. Emergency transport passengers must get to a healthcare institution as soon as possible.
Emergency Ground Ambulance:
The emergency ground ambulance segment is further classified into basic life support ambulance and advance life support ambulance. Among these, the basic life support ambulance sub-segment had a dominant market share in 2021. A basic life support ambulance is used when a patient does not have a life-threatening condition. Crews are trained to provide first aid and stop minor bleeding while preparing the patient for transport to a hospital. They are also qualified to evaluate the patient's health and, if required, call for an ambulance with advanced life support.
The operating type segment is further classified into public private partnership, government, private, and others. Among these, the government sub-segment had a dominant market share in 2021. The major role of government-supported ambulance services is to take patients to the hospital for free. This type of ambulance service is completely funded by the government.
The ambulance services market in the Asia-Pacific region is projected to show the fastest growth in 2031. The Asia-Pacific ambulance services market is being driven by a variety of factors, including an increase in traffic accidents, growing population, increased focus on improving healthcare facilities, rising number of hospitals, and significant expenditures in technological advancements, particularly in India, China, and East Asian countries which are driving the demand for ambulances services market in the region.
Key Players in the Global Ambulance Services Market
Some of the leading ambulance services market players are
- Babcock International Group PLC
- Acadian Ambulance Service
- BVG India
- Falck A/S
- Ziqitza HealthCare
- Air Methods
- Harmonie Ambulance
- Envision Healthcare
- Medivic Aviation
- Aeromedevac Air Ambulance
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