PORTLAND, Ore., Aug. 15, 2024 /PRNewswire/ -- The global
emergency ambulance market is experiencing growth due to several
factors such as improved road infrastructure, technological
advancement, rise in road accidents, and advancement in healthcare
technology.
Allied Market Research published a report, titled,
"Emergency Ambulance Vehicles Market by
Vehicle Type (Ambulance Van, Ambulance Bus, and Ambulance Car),
Ambulance Emergency Type (Emergency Medical Services (EMS), and
Hospital Based Emergency Ambulance) and End User (Private
Enterprises, Government Services, and Others): Global Opportunity
Analysis and Industry Forecast, 2024-2033". According to the
report, the emergency ambulance vehicles market was valued at
$43.8 billion in 2023, and is
estimated to reach $103.9 billion by
2033, growing at a CAGR of 9.3% from 2024 to 2033.
Prime Determinants of Growth
Population growth, particularly in urban areas, and demographic
shifts such as aging populations contribute to increased demand for
emergency ambulance services. Older adults tend to have higher
rates of medical emergencies and chronic conditions, driving the
need for EMS. Furthermore, the frequency and severity of health
emergencies, including accidents, injuries, acute illnesses, and
natural disasters, directly impact the demand for ambulance
services. As the incidence of these emergencies rises, so does the
need for timely medical response and transportation. Moreover,
innovations in medical equipment, communication systems, and
vehicle design enhance the efficiency, effectiveness, and scope of
emergency ambulance services. Advanced technologies such as
telemedicine capabilities, GPS tracking, and mobile healthcare apps
improve patient care and response times.
Request Sample of the Report on Emergency Ambulance Vehicles
Market Forecast 2033:
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Report coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2024–2033
|
Base
Year
|
2023
|
Market Size in
2023
|
$43.8
billion
|
Market Size in
2033
|
$103.9
billion
|
CAGR
|
9.3 %
|
No. of Pages in
Report
|
488
|
Segments
Covered
|
Transport Vehicle
Outlook, Emergency Service Outlook, Equipment Outlook, and
Region.
|
Drivers
|
Technological
advancements
|
Rise in road
accidents
|
Improvement in road
infrastructure
|
Opportunities
|
Integration of drone
technology in emergency medical service
|
Integrating
telemedicine capabilities into emergency
ambulance
|
Restraint
|
Limited financial
resources allocated to emergency medical
|
Geographical
challenges
|
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Tables, and Figures):
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Segment Highlights
The transport vehicle outlook segment is expected to grow
faster throughout the forecast period.
By transport vehicle outlook, the transport vehicle outlook
segment is anticipated to experience faster growth in the emergency
ambulance market due to emergency aircraft, such as fixed-wing or
helicopter transportation. They can navigate through urban areas,
rural regions, and highways, reaching patients in various
locations. Ground ambulances are typically more cost-effective to
operate and maintain compared to air ambulances. This
cost-effectiveness makes them a more viable option for healthcare
providers and insurance companies. Many regions have a
well-established infrastructure for ground ambulance services,
including ambulance stations, roads, and communication systems.
This infrastructure supports the efficient operation of ground
ambulances and ensures timely responses to emergencies.
The emergency service outlook segment is expected to grow
faster throughout the forecast period.
By emergency service outlook, the emergency service outlook
segment is anticipated to experience faster growth in the emergency
ambulance market owing to emergency services are specifically
designed and equipped to respond rapidly to medical emergencies.
They are often the first point of contact for individuals
experiencing acute health crises, such as heart attacks, strokes,
or traumatic injuries. Their ability to promptly reach and assist
patients in distress is crucial for saving lives and minimizing the
impact of emergencies. Emergency services operate round-the-clock,
seven days a week, ensuring that assistance is available whenever
emergencies occur, regardless of the time of day or night. This
constant availability makes emergency services the go-to option for
individuals in need of immediate medical attention, further
solidifying their market dominance.
The equipment outlook segment is expected to grow faster
throughout the forecast period.
By equipment outlook, the equipment outlook segment is
anticipated to experience faster growth in the emergency ambulance
market due to many hospitals and healthcare systems as they prefer
to collaborate with ALS ambulance providers due to their ability to
deliver advanced pre-hospital care and streamline the transition of
patients from the scene of the emergency to definitive care in the
hospital. These partnerships may lead to exclusive contracts or
preferred provider agreements, further consolidating the market
share of ALS services. In some healthcare systems, reimbursement
rates for ALS services may be higher compared to basic life support
(BLS) services, reflecting the advanced level of care provided by
paramedics. This financial incentive encourages ambulance providers
to invest in ALS capabilities and may contribute to the higher
market share of ALS ambulances.
Asia-Pacific to maintain its
dominance by 2032
By Region Many countries in Asia-Pacific are investing heavily in
healthcare infrastructure development, including the expansion of
ambulance fleets and emergency response capabilities. Improved
access to healthcare services, including emergency medical
transportation, contributes to the growth of the ambulance market
in the region.
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Key Players:
- Acadian Ambulance Service
- Air Methods Corporation
- America Ambulance Service, Inc.
- Babcock International Group PLC
- BVG India limited
- Falck A/S
- Global Medical Response
- London Ambulance Service NHS Trust
- MEDIVIC PHARMACEUTICAL PVT LTD.
- Ziqitza Healthcare Limited
The report provides a detailed analysis of these key players in
the global emergency ambulance market. These players have adopted
different strategies such as new product launches, collaborations,
expansion, joint ventures, agreements, and others to increase their
market share and maintain dominant shares in different regions. The
report is valuable in highlighting business performance, operating
segments, product portfolio, and strategic moves of market players
to showcase the competitive scenario.
Recent Development:
- In August 2023, Huntsville
Hospital merged with HEMSI ambulance service to expand their
services throughout northern Alabama.
- In May 2023, Empress EMS
announced the acquisition of Mobile Life Support Services to
minimize operational disruption and to ensure consistent quality
service for the communities. This joint venture is expected to
boost the revenue of the company.
- In May 2023, the Ministry of
Health of India received two
ambulances for use at the National Infectious Disease Center and
one land cruiser pickup to support oxygen plant operations from the
World Health Organization (WHO) and the government of the Federal
Republic of Germany as part of
their ongoing efforts to improve the quality of healthcare services
in Liberia.
- In May 2021, Reliance Industries
Ltd announced corporate social responsibility by offering free fuel
to emergency service vehicles transporting Covid patients. With a
surge in demand for ambulances tasked with transporting medical
oxygen and patients to and from quarantine facilities, this
initiative aimed to alleviate financial burdens on essential
healthcare services and support the nation's Covid response
efforts.
- In May 2023, Empress EMS acquired
Mobile Life Support Services, signaling a commitment to bolstering
operational efficiency and maintaining service excellence. This
strategic partnership aimed to streamline operations and minimize
disruptions, thereby enhancing the overall quality of emergency
medical services offered to communities served by both
entities.
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