Global ambulance market was valued at US$ 28.6 billion in 2019 and is expected to reach US$ 33.5 billion by 2028, growing at a CAGR of 8.1% over the forecast period. Ambulances are used by emergency medical services to respond to medical emergencies. They are usually fitted with flashing warning lights and sirens for this purpose. They transport paramedics and other first responders to the scene quickly, hold emergency care administration supplies, and transport patients to hospital or other final care. A configuration based on vans or pick-up trucks is used for most ambulances. Others are in the form of bikes, vehicles, buses, aircraft, and ships. Previously, an ambulance was simply a way of bringing patients to hospitals but modern ambulances are well-equipped with the latest life-saving equipment and technology to ensure that emergency services are quickly delivered to patients.
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Technology is changing the medical sector and investment by government towards medical sector is aiding in providing efficient patient care, delivering quicker diagnosis and eventually increasing survival rates. It is predicted that one in six individuals in the world will be over 65 years old by 2050. It will take more care for this increasing population, putting greater demands on resources and personnel. Due to shortages of health staff health professionals are now looking at technology to empower and help patients. This has boosted the demand for ambulances in developed and developing economies. There is no access to emergency transport or prehospital trauma treatment for the majority of the world's population.
The demand for ambulance services is driven by rise in morbidity rates, and emergency medical incidents. The competitiveness of the businesses in this sector depends on rapid and efficient response and operational output. Large organizations have various advantages over small businesses. Service capabilities, infrastructure, and geographic reach of large organizations aid them to expand their reach and gain significant revenue. The rapidly spreading Covid-19 pandemic across the globe is boosting the demand for ambulance. The rise in Ambulance Market growth is primarily due to a rising demand for emergency transport services for patients affected with COVID-19. Several leading ambulance service providers and suppliers have incorporated new technology and boosted their manufacturing during the crisis to meet the growing demand for emergency care services.
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Ambulance Market players are preparing various business plans to meet the increasing demand for the services, the companies are making strategic alliances and partnerships. Moreover the adoption of technology in ambulance is boosting the growth of the market for instance, Mahindra announced the launch of the BS-6 Supro ambulance in June 2020, which will be fitted with a foldable stretcher cum trolley, a medical kit box, an oxygen cylinder fire extinguisher supply, an announcement system, and internal lighting. The market will boost even after the pandemic this is because various companies are making continuous advances and increasing the development and capability of ambulances to provide COVID-19 patients with enhanced services. There is a growth in investment in the medical sector by the government, the growing investment will boost the adoption of technological products in the medical sector which would open new opportunities and accelerate the growth of the global ambulance industry following the end of the COVID-19 pandemic.
Furthermore, the emergency services industry includes private and public providers providing air or surface transport services along with primary medical care to seriously ill patients. These vehicles are fitted with life-saving equipment operated by healthcare practitioners. Private emergency services have emerged in many countries to provide ambulance services especially in the rural areas which lack the required funds to provide free ambulance services, and also because of the budgetary problems of the state. The rapidly growing prevalence of chronic diseases, the increasing number of road accidents, the increasing emphasis on medical tourism and the ageing population are the main reasons for increase in demand for ambulance market. Manufacturers of ambulances are investing heavily on new technology to minimize costs and increase turnaround times, the air ambulance providers are investing more on technology in order to provide state of the art care to patients during tsunamis, droughts, and cyclones.
The detailed research study provides qualitative and quantitative analysis of ambulance market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- The market for emergency ambulance services held the largest market share over the forecast period. There is a significant increasing in the number of cardiovascular disorders which will fuel the growth of the segment. Emergency services are made available to the people suffering from acute injuries and diseases. Also, these services are provided to those in need of immediate medical assistance.
- The demand for ground ambulance services is more as compared to other modes, due to the reliability and high utilization rates the demand for ground ambulance services is growing. Ground ambulance covers trucks, cars, bikes, all-terrain vehicles and buses. Due to the rise in medical tourism in developed countries the prevalence of air ambulances is also rising will exhibit a significant CAGR over the period.
- Asia Pacific region will exhibit a significant CAGR over the period. Some of the factors that are likely to drive the growth of the Asia Pacific market are the immense developments in healthcare facilities and an increase in the number of road accidents.
- The major players operating in the market include Ambulance USA, America Ambulance, Care Ambulance Service, Emergency Ambulance Service, Inc., Envision Healthcare Holdings; Inc., Falck A/S, Firstmed Ambulance, ICATT, London Ambulance Service NHS Trust, Medivic Cardiac Ambulance Service, Royalty Ambulance, Southern California Ambulance and Other Market Participants.
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Ambulance Market:
- By Transport Vehicle
- Ground Ambulance Services
- Air Ambulance Services
- Water Ambulance Services
- By Emergency Services
- Emergency Ambulance Services
- Non-Emergency Ambulance Services
- By Equipment
- Advance Life Support Ambulance Services (ALS)
- Basic Life Support Ambulance Services (BLS)
- By Geography
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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