Ambulance Services Market Boosting the Healthcare Industry Worldwide

Ambulance Services Market Outlook 2031

• The global ambulance services market was valued at US$ 46.7 Bn in 2021
• The global market is projected to register a CAGR of 4.5% from 2022 to 2031
• The global ambulance services market is anticipated to reach more than US$ 70 Bn by the end of 2031

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Analyst's Viewpoint on Ambulance Services Market

Surge in number of accidents, entry of new ambulance service providers with highly equipped ambulances, and favorable reimbursement policies are some of the key factors contributing to the growth of the global ambulance services market. The global ambulance services market is also expected to grow at a steady pace during the forecast period, owing to the strengthening healthcare infrastructure in emerging economies. Companies in the global ambulance services market are focusing on meeting the increasing demand for emergency ambulance services to keep their businesses growing. Companies are also diversifying their revenue streams by increasing the availability of air ambulance services.

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Overview of Ambulance Services Market

Ambulances or ambulance services provide emergency pre-hospital treatment and stabilization of serious illnesses & injuries, as well as patient transport service for definitive care. Ambulance services are an important link between medical care and disaster management systems, providing pre-hospital care for the injured. The scope of ambulance services covers treatment for the people in need of emergency care or arrangement of timely transportation of patients to the next point of care.

Global emergency medical services (EMS) are advanced enough to make a significant contribution to the overall functioning of the healthcare system. The World Health Organization considers the EMS system to be an integral part of an effective and functional healthcare system.
Increase in number of accidents, introduction of new ambulances with the latest technology that addresses primary healthcare needs, and favorable reimbursement policies drive the demand for ambulance services.

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Increase in Number of Accidents to Propel Global Ambulance Services Market

Rise in adoption rate of commercial and personal vehicles has resulted in a higher number of accidents. Accidents often create a need for immediate hospital visits for medical treatment and support. Hence, patients require ambulance services for transportation to-and-from hospitals. The U.S. is one of the busiest countries in the world in terms of road traffic accidents. Around 10 million road accidents take place every year in the U.S. Among these, nearly 2 million to 4 million drivers experience permanent injuries every year. According to the Ministry of Road Transport & Highways (MORTH) of India, about 6,800 people died and 18,000 were injured in drunk driving accidents in 2015-2016. Thus, surge in number of accidents is anticipated to propel the ambulance services market from 2022 to 2031.

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Improved Care Services for Geriatric Population to Augment Global Ambulance Services Market

Improving healthcare reforms in various regional markets such as the U.S., Japan, and China has increased the life expectancy of the population. According to the World Health Organization (WHO), the global geriatric population stood at around 524 million in 2010 and is expected to reach around 2 billion by 2050. Thus, constant rise in geriatric population is likely to propel the demand for ambulance services, as the elderly are more prone to acquiring diseases and infections. The geriatric population is also prone to physical disabilities such as immobility, which is likely to drive the demand for ambulance services for transportation to hospitals for medical treatment on a regular basis.

Brazil, China, Thailand, and South Korea are expected to have a large geriatric population in the next few years. Japan, the U.S., and the U.K. are also likely to follow suit. The ratio of geriatric population to adult population in these countries is projected to be higher in the near future. Thus, increase in geriatric population is estimated to augment the ambulance services market.

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