July 19, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Ambulance Services Market.
It was estimated prior to this unanticipated outbreak that the Ambulance Services Market is likely to witness an impressive CAGR of 7.5% during 2022-2027. The prime factor that is contributing to the demand for ambulance services is mainly the increasing number of road accidents in the developing regions.
Market Scope & Segmentation
Ambulance Services are emergency services that provide urgent pre-hospital treatment and stabilization for serious illness and injuries and transport to definitive care.
Ambulance Services are of different types, such as air ambulance, ground ambulance, and water ambulance, that are used in various modes of applications, such as hospitals, nursing homes, home healthcare settings, and others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Segment Analysis
Based on the mode of transportation type, the market is segmented as air ambulance, ground ambulance, water ambulance. The ground ambulance segment held the largest share of the market in 2020 and is expected to remain dominant during the forecast period. Ground ambulance service is considered more cost-effective, accessible, and available than air and water ambulance services, that are better suited to extreme emergencies, which is driving the growth of this segment.
Based on the services type, the market is segmented as emergency medical services and non-emergency medical services. The non-emergency medical services segment held the largest share of the market in 2020 and is expected to lead the market during the forecast period. Non-emergency services provide medically necessary and pre-scheduled inter-facility services, which are the major drivers bolstering the growth of the segment during the forecast period.
Based on the payer type, the ambulance services market is segmented as public, private, and out-of-pocket. The private segment dominates the market. Further, private payers offer numerous types of plans to meet the basic standards specifically set by the government, which is propelling the growth during the forecast period.
Based on the end-use industry type, the ambulance services market is segmented as hospitals, nursing homes, home healthcare settings, and others. The nursing homes industry segment dominates the market. Further, increasing number of nursing coupled with the growing adoption of ambulance services is underpinning the growth of the segment over the forecast period.
In terms of regions, North America is estimated to be the largest as well as the fastest-growing market for ambulance services during the forecast period, with the USA, Canada, and Mexico being the major countries offering lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as hospitals, nursing homes, home healthcare settings, and others, which is generating huge demand for ambulance services and the presence of a large number of ambulance service providers in the North American region. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
Key players operating in the global Ambulance Services market are-
- Acadian Ambulance Service
- America Ambulance Services
- Air Methods
- Aeromedevac
- Babcock Scandinavian AirAmbulance
- BVG India Limited
- Falck Danmark
- Harmonie Ambulance
- SHM Shipcare
- Ziqitza Health Care.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Ambulance Services analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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