Introduction
Ambulance services also are known as emergency medical services or paramedic services. Ambulance services are the ones that help to treat illness and injuries requiring urgent responses. Ambulance services refer to pre-hospital treatment provided for serious injuries and illness and transport to an emergency care unit. The ambulance service market will expand with a robust push from the public and private payers.
The demand for ambulance services is on a rise owing to the favorable reimbursement policies, rising medical tourism, an increasing number of road accidents, and a growing geriatric population. Road accidents are rapidly increasing and such cases require immediate medical attention and ambulance services.
The COVID-19 pandemic has positively impacted ambulance services market. This is mainly due to growing demand for ambulance services to provide emergency care services to COVID-19 patients.
Table of Contents
Market Overview
The global ambulance services market is expected to grow to $53.90 billion by 2025
Growth momentum is expected to accelerate during the forecast period with a 10.24% CAGR.
The rising incidence of cardiovascular diseases, increasing geriatric population are expected to bolster the growth of the market.
North America dominated the global ambulance services market due to the presence of several key market players in this region, growing demand for high-quality healthcare services, well-established healthcare infrastructure.
Key Trends
The rising geriatric population coupled with an increasing prevalence of chronic diseases such as diabetes and cancer and complex medical needs are expected to propel the growth.
The growing number of road accidents and an increasing number of alcohol and mental health-driven issues expect a boost to the market in the coming years.
Key Market Players
Some of the key players in the market are Envision Healthcare, London Ambulance Service NHS Trust, Acadian Ambulance Service, America Ambulance Services, BVG India Limited, Falck Denmark
The market players are continuously striving to introduce new improvements to the existing services focused on the anticipated consumer demands and market trends. Presently, market players provide services and promotional strategies through online portals. They promote their services directly via their websites, third-party portals, and promotional organizations.
Growth Drivers and Challenges
Favorable reimbursement policies across the globe.
Growing medical tourism in the developing regions is driving the market growth.
Increasing number of road accidents in the developing regions.
Shortage of ambulances and proper medical staff during the forecast period.
Stringent government regulations is challenging the market growth.