Global Ambulance Services Market is projected to surpass USD 71.3 billion by 2031

ThinkWise Intelligence has added a new report on the Global Ambulance Services Market, in their healthcare industry vertical that provides a comprehensive review of this industry concerning the driving forces and market trends influencing the market size. Comprising the current and future trends defining the dynamics of this market, this report also incorporates the regional landscape of the ambulance services market in tandem with its competitive terrain.

The global ambulance services market size is expected to be worth more than USD 71.3 billion by 2031, with a CAGR of more than 10.2 percent from 2022 to 2031. The ambulance services market is expected to grow at a rapid pace in the future years, owing to an increase in the number of road accidents, an increase in the prevalence of chronic diseases, and the growing medical tourism trend.

The primary function of all ambulance services is to provide emergency pre-hospital medical care. These services also provide a disciplined and organised system that allows skilled health care providers to respond in a timely manner during an emergency. Some densely populated areas in various cities are inaccessible to ambulance services due to a lack of suitable space for an emergency vehicle.

The market is expanding as a result of advantageous reimbursement policies in industrialised countries. In the United States, Medicare pays both non-emergency and emergency ambulance services for medically required instances if the supplier meets certain criteria. In rare cases, Medicare will pay for irregular and unplanned non-emergency trips. Medicare covers 80.0 percent of the permitted amount for emergency medical treatment, with the patient's supplemental insurance coverage covering the remaining 20.0%. Patients in New Jersey, Pennsylvania, and South Carolina must obtain prior authorization from Medicare Administrative Contractor for repeated, non-emergency trips (MAC). Ambulates, on the other hand, are not covered by Medicare (wheelchair-accessible vans that provide non-emergency transportation services).

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The ambulance services market is divided into three segments based on transportation: water ambulance, land ambulance, and air ambulance. In 2021, the ground ambulance segment was worth more than $17.3 billion. Ground ambulance service is thought to be more affordable and accessible than water ambulance services and air ambulance services.

The ambulance services market is divided into two categories based on services segment: non-emergency medical services and emergency medical services. Non-emergency medical services had a market share of more than 35% in 2021 and will continue to increase significantly in the future years. Non-emergency services are pre-scheduled inter-facility services that are medically required. Non-emergency services include transporting patients from laboratory services to appropriate facilities, transporting patients with travel difficulties to hospitals in regular vehicles, and transferring patients from one hospital to another.

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The North America ambulance services market is likely to dominate the forecast period. Europe and Asia-Pacific will follow this region. One of the primary causes for the growth of this regional market in the Asia-Pacific area is the rise in road-side injuries.

The competitive landscape in this market is populated by a significant number of domestic and international firms. Some of the key players are AirAmbulance, Acadian Ambulance Service, Air Methods Corporation and Ziqitza Health Care. Technology implementation and partnerships with public and private organisations are two important initiatives that will define this market over the forecast period.

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ThinkWise Intelligence, an Indian Market Intelligence company, delivers services wholly based on its data model, compelled by the 360-degree research approach. We ensure comprehensive and accurate analysis while maintaining the integrity and authenticity of our services. We provide detailed and dependable findings by combining data triangulation with paid data resources, primary research, and rigid work culture. ThinkWise Intelligence analyses decades of trade data, government publications, white papers, and pertinent news releases to provide clients with the services they need on time. Its specialty is analyzing niche markets, identifying key drivers, and finding potential roadblocks. In addition, it has a seamless collaboration with a significant industry aficionado, which gives its research a competitive advantage.

This release was published on openPR.