Healthcare Transportation Services Market Increasing Geriatric Population and Rising Incidences of Chronic Diseases

According to Precision Business Insights (PBI), the latest report the global healthcare transportation services market is expected to be worth USD 82,541.4 million in 2022 and projected to grow at a 4.5% CAGR over 2022 to 2028. The healthcare transportation market share is anticipated to grow in the forecasting period due to healthcare transportation services are the main pillar of the overall healthcare system and play a critical role in improving healthcare system efficiency by enabling efficient management of emergencies such as accidents and in assisting patients in having access to convenient transportation to a specific hospital or medical centers quickly and safely. These services are also utilized to transport geriatric and differently abled individuals to hospitals for routine exams or post-surgery visits. Airport shuttles, for example, are employed to take patients from airports to nearby healthcare facilities. Healthcare transportation services are also used to carry medications, cosmetics, medical equipment, and specimens for testing in laboratories.

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The Hospital Segment is Dominating the Healthcare Transportation Services Market:
Based on the end user, the market is segmented into medical centers, private paying customers, hospitals, nursing care facilities, airport shuttles, and others. The hospital segment is anticipated to grow in the forecasting period owing to, according to the United Nations' World Population Aging Database, the geriatric population is expected to grow from 727 million in 2020 to 1.5 billion by 2050. Healthcare professionals and caregivers are using patient transportation solutions due to the aging population's sensitivity to fall-related accidents that can lead to functional disability. Furthermore, the increased incidence of obesity and the bariatric population support the demand for mobility solutions. Beds, support surfaces, and bariatric lifts and chairs improve patient safety and adequate transportation while also providing caregivers with safe handling of their associated patients. Moreover, according to U.S. Census Bureau, there were 40.3M U.S. residents 65 years and older in the 2010 Census and 54.1M in the July 1, 2019, population estimates.

North America Leads Healthcare Transportation Services Market:
North America region hold a significant market share in the global Healthcare Transportation Services market and is anticipated to grow at a prominent growth rate over the forecast years owing to improved medical care infrastructure and a rise in traffic accidents are two significant reasons to propel the region's industry. Traffic accidents in the Asia Pacific frequently necessitate emergency medical services, increasing demand for the region's emergency medical transportation business. Governments are extending infrastructure development programs worldwide to avoid wasting healthcare funds. Moreover, 645,000 road accident fatalities in Asia and the Pacific every year, and nearly 3.5 million: number of deaths caused by accidents in the last five years.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Healthcare Transportation Services market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In March 2017, the American Medical Response and Lyft collaborated to introduce Provide Non-Emergency Medical Transportation Services for Patients. In October 2016, ATS Healthcare developed coast-to-coast temperature management services with mission-critical pharmaceutical shipments in mind.

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Detailed Segmentation
1) By Type
• Medical Products
• Patient Transport
• Incubator Transport
• Mobile Treatment Facilities
• Non-medical Transport

2) By End-Use
• Medical Centers
• Private Paying Customers
• Hospitals
• Nursing Care Facilities
• Airport Shuttle
• Others

3) By Geography
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa (MEA)

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Key player's profiles in the healthcare transportation services market report are Logisticare Solutions LLC, ProHealth Care Inc., Mercy Health Medical Transportation LLC, Molina Healthcare Inc., Express Medical Transporters Inc., Aramark Healthcare Technologies LLC, Crothall Healthcare Inc., MTM Inc., Acadian Ambulance Service Inc., Mobile Care Group Inc.

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