Ambulance Services Market Size, Global Market Research and Industry Forecast Report, 2020-2027 (Includes Business Impact of COVID-19)

  • TBI581208
  • November 28, 2020
  • Global
  • 132 pages
  • Lucintel

Industry Insights, Market Size, CAGR, High-Level Analysis: Ambulance Services Market

The global ambulance services market size was valued at USD 24.6 billion in 2019 and is expected to witness a CAGR of 9.3% over the forecast period. The demand for ambulance services is on a rise owing to the favorable reimbursement policies, rising medical tourism, increasing number of road accidents, and growing geriatric population. Road accidents are rapidly increasing and such cases require immediate medical attention and ambulance services. According to the Association for Safe International Road Travel (ASIRT), approximately 1.3 million people die in road crashes every year and additionally 20-50 million get injured or disabled. Road traffic accidents account for the 9th leading cause of deaths worldwide. ASIRT also reported that in U.S., over 37,000 people die in road accidents every year and an additional 2.35 million get injured or disabled. As per the Ministry of Road Transport and Highways Transport Research Wing, Government of India, road accidents have increased by 2.5%, and deaths from road accidents have increased by 4.6% from 2014 to 2015. It also reported that approximately 400 deaths take place every day on Indian roads. In 2015, states that recorded highest number of road accidents were, Tamil Nadu (69,059), Maharashtra (63,805), and Madhya Pradesh (54,947). Cardiovascular diseases (CVDs) such as cardiac arrest, congestive heart failure, stroke, and coronary artery disease, require immediate medical attention and emergency medical facilities. According to the WHO, globally, CVDs are the leading cause of death and in 2015, CVD comprised of 31.00% of the total global deaths. Of these, 6.70 million were caused by stroke and 7.40 million were a result of coronary heart diseases. As per CDC, every year, approximately 735,000 cases of heart attack are reported in U.S. As per British Heart Foundation, there are approximately 200,000 hospital visits every year due to heart attacks, which is, one visit in every three minutes. It also reported that every year approximately 40,000 deaths are expected to take place due to stroke in U.K. CVD is among the leading causes of death in the world and usually requires immediate medical attention, which increases the need for ambulance services. Therefore, rising incidence of cardiovascular diseases is expected to bolster the growth of the market. Presence of a large population pool over 60 years, which typically has a lower immunity level and are prone to neurological diseases, cardiac problems, cancer, and spinal injuries, is also expected to be a high impact-rendering driver for the growth of the ambulance services industry over the forecast period. As per WHO, globally, the number of people aged 65 or older is anticipated to grow from an estimated 524 million in 2010 to nearly 1.5 billion in 2050. Geriatric population are highly susceptible to diseases such as arthritis, heart attacks, stroke, osteoporosis, and obesity. Patients suffering from such diseases may require emergency as well as non-emergency services. Hence, increasing geriatric population is likely to result in the growth of the market.

Transport Vehicle Insights

Based on the mode of transport, the ambulance services market is segmented into ground, air, and water ambulance services. Ground ambulance services accounted for the largest market share in 2019, due to their effectiveness and high usage rates. Ground ambulance includes van or pickup trucks, car/SUV, motorcycle, bicycle, all-terrain vehicles, golf cart, and bus. Air and water ambulance services are a niche segment. However, air ambulance is anticipated to witness lucrative growth during the forecast period due to increase in medical tourism in developing countries such as Thailand, India, and Brazil. Air ambulance services use airplanes, fixed-wing aircrafts, or helicopters for patient transportation from the site of accident to the healthcare facilities. These services are generally used to evacuate and rescue critically ill or injured patient and they are lesser used for patient transfer from hospital or healthcare facilities.

Emergency Services Insights

On the basis of type of emergency services, the market has been segmented into emergency and nonemergency ambulance services. Emergency ambulance services held the dominant share in 2019, and are anticipated to witness the fastest growth rate over the forecast period. The growth of the segment can be attributed to the prevalence of cardiovascular diseases such as cardiac arrest, stroke, and congestive heart failure. Emergency ambulance services are provided to patients with acute injury or illness and to those who are in urgent need of medical attention. The emergency ambulance services are equipped with BLS, ALS, paramedics, and Emergency Medical Technicians (EMT). Every nation has emergency numbers for calling emergency ambulance facilities to the accident scene, such as 911 in U.S., 999 in U.K., and 108 in India. Some of the companies offering such facilities are Acadian Ambulance Service, Inc.; BVG India Ltd.; Falck A/S; Air Medical Group Holdings, Inc.; and Ziqitza Health Care Limited.

Equipment Insights

On the basis of equipment, the market has been segmented into Basic Life Support Ambulance Services (BLS) and Advance Life Support Ambulance Services (ALS). The ALS services segment is expected to witness rapid growth owing to rising awareness about life support services, high incidence of cardiovascular disorders, and increase in technologically advanced equipment and trained personnel. ALS is the extension of BLS, which provides adequate ventilation and open airway, and require medical monitoring, drug therapy, and IV therapy. It also covers cardiac arrest conditions. ALS is the next level of emergency care services and includes a set of life-saving skills and protocols. ALS ambulances are equipped with vascular access equipment, cardiac arrest treatment equipment, nebulizer, glucometer, large bore needle, medications, and pre-loaded needles, over and above the BLS equipment. ALS ambulance is required for patients who need a higher level of care during transport such as a patient on cardiac monitor, potential airway-compromised patient, and obstetrical patients.

Regional Insights of Ambulance Services Market

North America held the largest share of the market in 2019. This growth can be attributed to factors such as presence of several key market players in this region, growing demand for high-quality healthcare facilities, well-established healthcare infrastructure, and favorable reimbursement policies and regulatory reforms in the healthcare sector. The emphasis of the U.S. healthcare system on quality of care and value-based services has led to a favorable market environment for the market. In addition, emergence of community paramedicine in North America has also contributed to the large market size of this region. Asia Pacific is expected to witness the fastest growth rate over the forecast period. Huge untapped market potential, improvements in healthcare facilities, and increase in number of road accidents are some of the factors likely to drive the growth of the market in Asia Pacific. In addition, road traffic injuries require EMS, which is likely to drive the growth of the market in Asia Pacific. Government spending on development of healthcare infrastructure is increasing, which may improve the accessibility and affordability of healthcare in this region.

Market Share Insights of Ambulance Services Market

Key players operating in the market include London Ambulance Service NHS Trust; Acadian Ambulance Service; BVG India Limited; America Ambulance Services, Inc.; Falck A/S; Air Medical Group Holdings Inc.; Air Methods Corporation; and Ziqitza Healthcare Limited. Key players are adopting various strategies such as merger and acquisitions, product launch, partnerships, and geographical expansion, to strengthen their foothold in the market. For instance, in September 2017, BVG India Limited and the Andhra Pradesh government collaborated to provide emergency medical facilities in the state. The company provided 467 ambulances across Andhra Pradesh, which include 389 basic life support and 76 advanced life support ambulances. This joint venture is expected to boost the revenue of the company.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Ambulance Services Market Research Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For the purpose of this study, this market research report has segmented the global ambulance services market report on the basis of transport vehicle, emergency services, equipment, and region:

Transport Vehicle Outlook (Revenue, USD Million, 2019 - 2030)

  • Ground Ambulance Services
  • Air Ambulance Services
  • Water Ambulance Services

Emergency Services Outlook (Revenue, USD Million, 2019 - 2030)

  • Emergency Ambulance Services
  • Non-Emergency Ambulance Services
  • Equipment Outlook (Revenue, USD Million, 2019 - 2030)
  • Advance Life Support Ambulance Services (ALS)
  • Basic Life Support Ambulance Services (BLS)

Table of Contents
Chapter 1 Research Methodology & Scope                  1.1 Market Segmentation & Scope                      1.1.1 Estimates and forecast timeline                  1.2 Research Methodology                      1.2.1 Information procurement                  1.3 Information or Data Analysis                  1.4 Market Formulation & Validation                  1.5 Region Wise Market Calculation                      1.5.1 Region Wise Market: Base Estimates                      1.5.2 Global Market: CAGR Calculation                  1.6 Region Based Segment Share Calculation       
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