Ambulance Services Market Worth USD 94.2 Billion by 2031, Predicted by Allied Market Research

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Rise in the number of individuals suffering from different chronic conditions, increase in geriatric population, and surge in the number of traumatic accidents drive the global ambulance services market. Based on region, North America held the largest share in 2021, contributing to nearly two-fifths of the global ambulance service market share.

Portland, OR, Feb. 20, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global ambulance services market garnered $40.6 billion in 2021, and is estimated to generate $94.2 billion by 2031, manifesting a CAGR of 8.9% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market. 

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Report coverage and details:

Report coverage Details
Forecast Period 2022-2031
Base Year 2021
Market Size in 2021 $40.6 Billion
Market Size in 2031 $94.2 Billion
CAGR 8.9%
No. of Pages in Report 280
Segments covered Mode of transportation, Service type, Operating type, and Region
Drivers Rise in the number of individuals suffering from different chronic conditions
Increase in geriatric population
Surge in the number of traumatic accidents
Opportunities Growth of the medical tourism and the availability of reimbursement policies
As the number of operations increases across the world, BLS ambulance services may be required to transfer patients from hospitals to homes and vice versa.
Restraints Need for specialized equipment and skilled medical personnel to execute the essential procedures
High cost of employment of an air ambulance

Impact of COVID-19 on Ambulance Services Market:

  • The COVID-19 outbreak had a positive impact on the ambulance services market. The market expanded as a result of the rising demand for ambulance services to provide emergency care to COVID-19 patients during the pandemic.
  • The majority of major manufacturers have concentrated on numerous strategies to combat the COVID-19 pandemic due to severe health emergency. For example, during the pandemic crisis in June 2020, Mahindra announced the debut of the BS-6 Supro ambulance. Such initiatives by the key market players boosted the market growth.

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The research provides detailed segmentation of the global ambulance services market based on, mode of transportation, service type, operating type, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report. 

Based on mode of transportation, the ground ambulance segment held the highest share in 2021, accounting for around three-fifths of the global ambulance services market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the air ambulance segment is expected to register the highest CAGR of 9.5% from 2022 to 2031. The report also discusses the water ambulance segment.

Based on service type, the emergency medical transport segment accounted for the highest share in 2021, holding more than half of the global ambulance services market, and is expected to continue its leadership status during the forecast period. Also, the same segment is estimated to grow at the highest CAGR of 9.1% during the forecast period. The report also analyzes the non-emergency segment.

Based on operating type, the government segment held the highest share in 2021, accounting for more than two-fifths of the global ambulance services market, and is expected to rule the roost during forecast period. On the other hand, the private segment is estimated to grow at the highest CAGR of 9.2% from 2022 to 2031. The report also analyzes the public private partnership and others segment.

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Based on region, North America held the largest share in 2021, contributing to nearly two-fifths of the global ambulance services market share, and is expected to maintain its lead in terms of revenue during the forecast period. However, the Asia-Pacific region is expected to manifest the fastest CAGR of 9.5% during the forecast period.

Leading market players of the global ambulance services market analyzed in the research include Acadian Ambulance Service, Ziqitza Health Care, aeromedevac air ambulance, Envision Healthcare, BVG India, Falck A/S, air methods, harmonie ambulance, MEDIVIC Aviation, Babcock.

The report provides a detailed analysis of these key players of the global ambulance services market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.  

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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