Ambulance Services Market Expected to Surge Substantially by 2031 Due to a Rise in Accident Rates across the Globe

The global ambulance services market is expected to grow by 2031 primarily due to a rise in accident rates. Ground ambulance sub-segment is expected to flourish hugely. The market in the North America region is predicted to grow massively.

As per the report published by Research Dive, the global ambulance services market is expected to register a revenue of $94,204.9 million by 2031 at a CAGR of 8.9% during the forecast period 2022-2031.

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Dynamics of the Global Ambulance Services Market

The consistent rise in severe accidents over the world is expected to become the primary growth driver of the ambulance services market in the forecast period. Additionally, the increasing prevalence of cardiovascular illnesses is anticipated to push the market forward. However, the lack of ambulance services in developing countries might become a restraint in the growth of the market. A rise in the need for air ambulance services is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, as medical tourism grows, ambulance services may be necessary in the tourist destination to transport patients to their treatment location, which is expected to propel the ambulance services market forward in the coming period.

COVID-19 Impact on the Global Ambulance Services Market

The COVID-19 pandemic positively impacted the expansion of the ambulance service market. The COVID-19 outbreak is driving up the demand for ambulance services to provide emergency treatment for COVID-19 patients. The need for ambulances has also greatly increased due to the COVID-19 cases reported worldwide. Moreover, the global provider of end-to-end emergency response services reported an increase in new platform subscribers during the COVID-19 outbreak.

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Segments of the Market

The report has divided the ambulance services market into mode of transportation, service type, emergency ground ambulance, operating type, and region.

Based on mode of transportation, the ground ambulance sub-segment held the highest market share in 2021. Ground ambulances are the most often used medical transport services since they are required for both patients who need continuous monitoring but do not need immediate assistance and individuals who are disabled and need support moving around. This factor is expected to help the growth of the sub-segment.

Based on service type, the emergency medical transport sub-segment dominated in terms of market share in 2021. Emergency medical transport sub-segment is predicted to hold the most significant market share because emergency medical transport is being greatly used by patients with emergency medical conditions.

Based on emergency ground ambulance, the basic life support ambulance sub-segment held the largest share in the ambulance services market in 2021. This massive growth is because basic life support ambulances greatly aid in patients' stabilization and maintain their comfort level until more advanced medical attention is available.

Based on operating type, the government sub-segment accounted for the dominant market share in 2021. Government ambulances receive funding from the provincial, regional, or federal governments and operate independently of local fire and police departments. This factor is expected to help the growth of the sub-segment in the coming years.

Based on region, the North America ambulance services market is predicted to have the highest market share by 2031. The presence of numerous significant market participants, the growing demand for high-quality healthcare services, attractive reimbursement policies, and regulatory improvements in the healthcare sector are all factors promoting the market growth in this region.

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Key Players of the Market

The major players of the ambulance services market include Acadian Ambulance Service, Babcock International Group PLC, Falck A/S, BVG India, Air Methods, Ziqitza HealthCare, Envision Healthcare, Medivic Aviation, Harmonie Ambulance, and Aeromedevac Air Ambulance. These players are working on developing strategies such as product development, mergers and acquisitions, partnerships, and collaborations to sustain market growth.

For instance, in October 2022, Medulance, a leading comprehensive emergency response service provider with cutting-edge technology that offers a wide range of medical services, launched a 5G ambulance in collaboration with Reliance Jio.

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