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Healthcare Transportation Service Global Market is Booming Worldwide Growth Prospects, Incredible Demand and Business Strategies By 2033

04-19-2024 12:32 PM CET | Logistics & Transport

Press release from: The Business research company

Healthcare Transportation Service Global Market

Healthcare Transportation Service Global Market

The healthcare transportation service market size has grown strongly in recent years. It will grow from $97.21 billion in 2023 to $103.25 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to economic factors and insurance coverage, emphasis on patient experience and comfort, shift towards value-based care models, rise in chronic diseases, urbanization and population density..

The healthcare transportation service market size is expected to see strong growth in the next few years. It will grow to $132.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to demand for specialized vehicles, expansion of telehealth services, personalized patient-centric services, rise in chronic conditions, focus on environmental sustainability.. Major trends in the forecast period include adaptation to demographic changes, integration of value-based care, diversification of service offerings, community health initiatives, environmental sustainability initiatives..

Market Overview -
Healthcare transportation services are specialized transportation services designed to assist individuals in accessing necessary medical care when they cannot use conventional transportation. These services offer patients various benefits, such as cheap emergency transportation, access to crucial medical equipment, accessibility and convenience, and a high safety level. The services are designed to provide greater safety for patients, especially those who are elderly or disabled.

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Rising Accident Rates Fueling Growth In The Healthcare Transportation Service Market
The increase in accidents is expected to propel the growth of the healthcare transportation service market going forward. An accident is an unexpected and unintentional event or occurrence that causes harm, damage, injury, or loss of life. Healthcare transportation plays a critical role in accidents by providing timely and specialized transportation services to meet the medical needs of accident victims. For instance, in August 2022, according to the National Highway Traffic Safety Administration, a US-based federal agency for transportation safety, in the first quarter of 2022, there were approximately 9,560 fatalities resulting from motor vehicle crashes in the United States, a 7% increase compared to the projected 8,935 deaths in the first quarter of 2021. Moreover, the fatality rate for the first quarter of 2022 increased to 1.27 fatalities per 100 million vehicle miles traveled, up from the projected rate of 1.25 fatalities per 100 million vehicle miles in the first quarter of 2021. Therefore, the increase in accidents will drive the growth of the healthcare transportation service market.

Competitive Landscape -
Major companies operating in the healthcare transportation service market report are Centene Corporation, Molina Healthcare Inc., DHL International GmbH, ARAMARK Holdings Corp., Lyft Healthcare Inc., ModivCare Solutions LLC, Piedmont Healthcare Inc., Air Methods Corporation, FirstGroup plc, Blue Star Ltd., Air Medical Group Holdings Inc., Crothall Healthcare Inc., Medical Transportation Management Inc., ProHealth Care Inc., Superior Air-Ground Ambulance Service Inc., ProTransport-1, ATS Healthcare Ltd., Patriot Transportation Holding Inc., Medspeed LLC , SCR Medical Transportation Inc., Acadian Ambulance Service Inc., Ziqitza Healthcare Limited, Medi-Trans Inc., Watts Healthcare Corporation, Midwest Medical Transport Company Llc, Veyo LLC, Ride RoundTrip Inc., Goodfaith Medical Transportation Company Inc., Hope Medical Transport and Training LLC., WellMed Medical Management Inc.

Innovative Ai-Powered Technology Revolutionizes Healthcare Transportation Services
Major companies operating in the healthcare transportation service market are developing innovative AI-powered applications such as DocGo On-Demand to increase their profitability in the market. AI-powered technology is applied to healthcare transportation services to enhance efficiency, safety, and patient experience. For instance, in November 2022, DocGo Inc., a US-based home healthcare service company, launched an application called DocGo On-Demand using AI-powered technology. DocGo On-Demand is a mobile health service that provides on-demand medical care to patients in their homes or other locations. The application is accessible to registered users of the Ambulnz by DocGo Web Requestor platform, allowing users to book urgent care house calls, making high-quality healthcare conveniently accessible.

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Key Segments -
The healthcare transportation service market covered in this report is segmented -
1) By Type: Medical Product, Patient Transport, Incubator Transport, Mobile Treatment Facilities, Non-Medical Transport
2) By Mode Of Transportation: Air Transport, Water Transport, Ground Transport
3) By End User: Hospitals, Private Paying Customers, Nursing Care Facilities, Medical Centers

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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