Number of pages: 100 | Report Format: PDF | Published date: March 15, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
Report Attribute |
Details |
Market Size Value in 2022 |
US$ 32.0 billion |
Revenue Forecast in 2031 |
US$ 72.42 billion |
CAGR |
9.5% |
Base Year for Estimation |
2022 |
Forecast Period |
2023-2031 |
Historical Year |
2021 |
Segments Covered |
Transport Type, Emergency Services, Type, and Region |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global ambulance services market was valued at US$ 32.0 billion in 2022 and is expected to register a revenue CAGR of 9.5% to reach US$ 72.42 billion by 2031.
Ambulance Services Market Fundamentals
Ambulance services are an essential component of the healthcare system. These services provide emergency medical care to individuals suffering from critical injuries or illnesses. Ambulances are equipped with a range of medical equipment and supplies to provide on-site care and during transportation to medical facilities. Ambulance services are staffed by highly trained medical professionals, such as paramedics or emergency medical technicians (EMTs). These individuals are trained to assess and treat patients quickly and effectively, often working in high-pressure situations where every second counts. They are equipped to handle a variety of medical emergencies, from heart attacks and strokes to traumatic injuries and accidents. Ambulance services can be of multiple types: ground, air, and water. Ground ambulance services include cars, buses, and vans, whereas air ambulance services include helicopters and airplanes. Ambulance services are critical in ensuring that individuals needing emergency medical care receive timely and effective treatment, helping save countless lives each year.
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Ambulance Services Market Dynamics
The increasing incidence of accidents and medical emergencies is the primary driver for the revenue growth of the global ambulance services market. For instance, according to WHO’s June 2022 report, almost 1.3 million individuals die yearly from road traffic crashes. The use of advanced medical equipment, such as defibrillators, ventilators, and advanced life support systems, has become increasingly common in modern ambulances, which has led to improved patient outcomes and increased demand for these services, leading to the revenue growth of the global ambulance services market. Additionally, government organizations worldwide are investing heavily in healthcare infrastructure, including ambulance services, eventually resulting in the revenue growth of the global ambulance services market. Private ambulance service providers have emerged as a significant driver of market revenue growth, offering various services, including emergency, non-emergency, and inter-facility transport, thus helping grow the global ambulance services market.
However, ambulance services can be prohibitively expensive for many individuals, particularly in low- and middle-income countries. This limits access to emergency medical care and can hinder the global ambulance services market revenue growth. Moreover, ambulance personnel often face safety risks, including exposure to infectious diseases and violent patients. This can lead to high-stress levels and burnout among medical personnel, negatively impacting the quality of care. Additionally, inadequate infrastructure and a lack of skilled medical personnel, such as paramedics and EMTs, impede the overall ambulance services market revenue growth.
Ambulance Services Market Ecosystem
The global ambulance services market is analyzed from four perspectives: transport type, emergency services, type, and region.
Ambulance Services Market by Transport Type
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Based on the transport type, the global ambulance services market is segmented into ground ambulance, air ambulance, and water ambulance.
The ground ambulance segment dominated the market with the principal revenue share in 2022, attributed to being the most convenient route of ambulance service. Vans or pickup trucks, cars, all-terrain vehicles, golf carts, and buses are examples of ground ambulances. These services typically involve using ambulances equipped with basic or advanced medical equipment to provide emergency medical care on-site and during transportation to medical facilities. Ground ambulance services are frequently the first line of defense in emergency medical situations, providing speedy response times and basic life support while transporting patients to medical facilities for additional care. These services are essential in providing care to patients who are too sick or injured to transport themselves and require urgent medical attention. These factors contribute to the revenue growth of the ground ambulance segment.
The air ambulance segment is expected to be the fastest-growing segment throughout the forecast period, as it provides quick, high-quality treatment to patients in outlying or difficult-to-reach regions. Air ambulance services are specialized medical transport services that employ airplanes or helicopters to transfer people needing immediate medical assistance. These services are often utilized for patients who cannot travel by standard modes of transportation, like autos or commercial planes, due to illness or injury. Air ambulance services, equipped with cutting-edge medical technology and manned by highly qualified medical personnel, may be utilized for local and international travel. Air ambulance services are utilized in various emergencies, such as natural disasters, medical crises, and transporting critically sick patients between medical institutions. These services are critical in the healthcare business because they provide quick, high-quality care to patients requiring immediate medical attention, contributing to the revenue growth of the air ambulance segment.
Ambulance Services Market by Emergency Services
Based on the emergency services, the global ambulance services market is segmented into emergency services and non-emergency services.
The emergency services segment dominated the market with the largest revenue share in 2022, owing to increasing demand for emergency medical services. Emergency services involve providing immediate medical care to patients who require urgent attention due to illness, injury, or trauma. Emergency services may be provided by ground ambulance, air ambulance, or other specialized modes of transportation. The primary goal of emergency services is to provide timely and effective medical care to stabilize patients and transport them to medical facilities for further treatment. This may involve basic or advanced life support, depending on the severity of the patient's condition. Emergency services personnel are highly trained medical professionals, such as paramedics and EMTs, equipped to provide advanced medical care on-site and during transport.
Ambulance Services Market by Equipment
Based on the equipment, the global ambulance services market is segmented into advanced life support ambulance services (ALS) and basic life support ambulance services (BLS).
The advanced life support ambulance services (ALS) segment accounted for the largest revenue share in 2022. ALS ambulance services involve the usage of ambulances equipped with advanced medical equipment and staffed by highly trained medical professionals, such as paramedics and advanced life support technicians, to provide advanced medical care to extremely sick or wounded individuals. ALS ambulance services are typically used when patients require advanced medical interventions, such as airway management, intravenous therapy, and cardiac monitoring. These services may also involve using specialized equipment, such as ventilators and defibrillators, to provide life-saving care to patients. These factors contribute to the revenue growth of the advanced life support ambulance services segment.
The basic life support ambulance services (BLS) segment accounted for the second-largest revenue share in 2022. BLS ambulance services use ambulances equipped with basic medical equipment and staffed by trained medical professionals, such as EMTs and paramedics, to provide basic medical care to emergency patients. BLS ambulance services are typically used in situations where patients require immediate medical attention but do not require advanced medical interventions. These services may involve basic medical procedures, such as CPR, wound care, oxygen therapy, and transportation to medical facilities for further treatment. Additionally, these services are often used with ALS ambulance services to provide a comprehensive emergency medical response system. These aspects contribute to the revenue growth of the basic life support ambulance services segment.
Ambulance Services Market by Region
Geographically, the global ambulance services market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Asia Pacific is expected to be the fastest-growing segment throughout the forecast period, attributed to the increasing demand for emergency medical services, the rising number of road accidents and natural disasters, and the rising government initiatives in ambulance services. Additionally, companies across the region are continuously involved in partnerships, mergers, and acquisitions to improve and launch ambulance services, which is also helping in the revenue growth of the market. For instance, in June 2022, Care4Parents, India's most reputable Eldercare services platform, announced a collaboration with Dial4242 Ambulance service. As a result of this collaboration, Care4Parents customers can book an ambulance in seconds, accessible 24 hours a day, seven days a week. Care4Parents users must first hit the HELP button on the app, followed by the Ambulance button, to arrange an ambulance. In over 500 cities throughout the country, the ambulance will be ready within 30 minutes. When this button is pressed, a call is placed to the Dial4242 Ambulance service's 1800 number. Customers of Care4Parents will not be charged any membership fees and will only be charged for the ambulance they hire. Customers will access several types of ambulances as part of the service, such as Basic Life Support (COVID and non-COVID), ALS with a paramedic, and ALS with a doctor/EMT (COVID and non-COVID). Patrons of Care4Parents do not have to pay membership or access fees to enjoy these services. They only need to choose why they seek an ambulance and make the appropriate payment.
Ambulance Services Market Competitive Landscape
The prominent players operating in the global ambulance services market are:
Ambulance Services Market Strategic Developments
The global ambulance services market was valued at US$ 32.0 billion in 2022.
The global ambulance services market is expected to reach US$ 72.42 billion by 2031.
The ambulance services market is expected to register a revenue CAGR of 9.5% during the forecast period from 2023 to 2031.
The inadequate infrastructure and lack of skilled medical personnel, such as paramedics and EMTs, restrict the global market revenue growth to its full potential.
Envision Healthcare, BVG India, Air Medical Group Holdings LLC, Falck A/S, and IAS Medical, Ltd are among the prominent players operating in the global ambulance services market.
*Insights on financial performance are subject to the availability of information in the public domain