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Patient Transport Services Market Key Trends And Competitor Assessment 2024-2033
Patient Transport Services Market Demand
According to The Business Research Company's, The patient transport services market size has grown rapidly in recent years. It will grow from $36.37 billion in 2023 to $40.07 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to increased demographic changes, healthcare access challenges, emergency medical services (ems) integration, government healthcare policies, partnerships with healthcare providers.
The patient transport services market size is expected to see rapid growth in the next few years. It will grow to $59.5 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to telehealth and remote monitoring, population health management, customized transport solutions, home-based care, global health events preparedness. Major trends in the forecast period include telemedicine integration, fleet modernization, community-based services, personalized patient care, data-driven logistics.
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Market Drivers and Trends:
The rise in road accidents is expected to propel the growth of the patient transport services market going forward. Road accidents refer to an incident involving at least one vehicle on a public road that results in at least one person being hurt or killed. Road accidents require emergency medical transport for non-life-threatening injuries or medical conditions requiring receiving prompt medical attention at a hospital. Medical transportation is also required for individuals who require ongoing care or rehabilitation due to injuries sustained in the accident. For Instance, in September 2022, according to National Highway Traffic Safety Administration, an agency of the U.S. federal government, part of the Department of Transportation, an estimated 20,175 persons lost their lives in on road car accidents in the first half of 2022 in the US, a 0.5% increase from 2021. Further, 42,915 people died on American roadways in 2019, a 10.5% increase from 2020. Therefore, the rise in road accidents is driving the growth of patient transport services.
Product Innovation is a key trend gaining popularity in the patient transport services market. Major companies operating in patient transport services market are concentrating their efforts on creating innovative products to sustain position in the market. For Instance, in June 2022, Technimount Medical, a Canada-based emergency medical services (EMS), launched the new Technimount's THS product line, the Techni-Track, and Techni-Clamp. The Techni-Track is designed with Descending technology that allows adjusting and interchange accessories that provide easier height adjustment and IV bag installation and removal. The Techni-Clamp allows for the quick installation of pumps and other medical devices.
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Major Key Players of the Market:
Envision Healthcare; Acadian Ambulance Service; Falck A/S; Air Methods Corporation; Berliner Verkehrsbetriebe (BVG); American Ambulance Service Inc.; Air Medical Group; First Ambulance; National Patient Transport pty. Ltd.; Express Medical Transporters; North West Ambulance Service; RNR Patient Transfer Services Inc.; South Central Ambulance Service; Medivic Pharmaceutical Pvt. Ltd.; London Ambulance Service; America Patient Transport Services Inc.; ATS Healthcare Solutions; Xpress Non-Emergency Medical Transportation; PHI Air Medical; Babcock Scandinavian Air Ambulance; Lifeguard Air Ambulance; Air Ambulance Worldwide; REVA Air Ambulance; Jet Rescue Air Ambulance; AeroCare Medical Transport System; AirCARE1 International; AirMed International; Angel MedFlight Worldwide Air Ambulance; Global Air Ambulance; IAS Medical Limited; Medical Air Service; Native Air
Patient Transport Services Market 2024 Key Insights:
• The patient transport services market size will grow to $59.5 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%.
• Rise In Road Accidents Drives Patient Transport Services Market
• Product Innovation Drives Patient Transport Services Market
• North America was the largest region in the patient transport services market in 2023
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