Dublin, March 24, 2023 (GLOBE NEWSWIRE) -- The "India Ambulance Services Market, By Transport Vehicle (Ground v/s Air), By Services (Emergency v/s Non-Emergency), By Service Operators, By Equipment Type, By Company, By Region, Forecast & Opportunities, 2028F" report has been added to ResearchAndMarkets.com's offering.
India Ambulance Services market stood at USD1502.78 million in 2022 and is expected to grow at a significant rate of 5.12% CAGR during the forecast period 2024-2028.
An increase in the number of road accidents thereby requires immediate medical support/services. The Ministry of Road Transport and Highways Transport, Government of India stated that the frequency of road accidents is increasing day by day due to reckless driving, drunk driving, or any other reason. Also, the rise in the number of deaths happened due to road accidents is creating the need for the availability of quick medical treatment.
Supportive government policies to boost the healthcare industry and reimbursement plans for availing healthcare services are two factors fueling the growth of the market. A rise in medical tourism and the development of infrastructure for healthcare facilities is accelerating the ambulance services market demand.
Cardiovascular diseases comprising cardiac arrest, coronary artery disease, heart failure, and stroke usually require immediate medical attention and treatment as it is a leading cause of death and such situations are expected to bolster the growth of the market.
Additionally, the advanced life support services segment is expected to account for a major market share for the forecast period. The increase in the number of road accidents and the prevalence of cardiovascular diseases among consumers is supporting the growth of the market. A rise in awareness about life support services and the presence of trained healthcare professionals to tackle any healthcare problems are the other significant contributing factors to the high demand for ambulance services for the next five years.
Rising Prevalence of Chronic Diseases
The prevalence of the number of chronic diseases like cardiovascular diseases, surgeries, trauma, injuries, etc. requires urgent emergency services for the care and treatment of the patient. In India, non-communicable diseases account for 53% of all deaths and 44 % of disability-adjusted life-years, lost. India is considered a home to more than a sixth of the world's population and has been witnessing a rapid epidemiological transition i.e, a shift towards chronic non-communicable diseases along with socio-economic development.
According to the Department of Biotechnology, Government of India, India has the highest number of people with Diabetes in the world at around 77 million, which is data expected to have a projection of 134 million by 2045, as per the International Diabetes Federation. India experiences premature death as a result of cardiovascular disease, which causes one-fourth of all fatalities. The increasing prevalence of diseases and accidents has significantly increased the number of people requiring immediate treatment and transportation to hospitals, thereby supporting the market growth for ambulances in India.
Increase in the Number of Road Accidents
Generally, the increase in the number of road accidents leads to many injuries and deaths. For instance, according to the Times of India, two-wheelers accounted for the maximum fatal road accidents (69,240 deaths), contributing 44.5% of total road accidental deaths, followed by cars and trucks/lorries in 2021.
Additionally, the rise in the adoption of commercial and personal vehicles has led to an increase in the number of road accidents incidence in the country, resulting in creating the requirement for emergency hospital admissions for urgent medical care and assistance.
Increase Technological Advancement
Rapid advancements in research and development (R&D) activities are propelling the growth of the market. New technology-based programs are developed that provide specific medical services and care in an emergency. Major companies are developing advanced technologies and launching new services to stay competitive in the market.
For instance, in 2021, JCBL developed with reliability and advantages, which is fully equipped with all the facilities that a basic mobile medical unit may need, including a PA system, oxygen cylinders, emergency stretchers, and an operating table, complete with all necessary medical supplies.
Rising Development in Hospital Facilities & Infrastructure
The improving healthcare infrastructure across India will increase the number of hospital establishments across the country, which in turn will increase the demand for ambulance services. Every hospital has either its ambulance or ambulance services in collaboration with any service provider. Additionally, the Indian government is continuously investing in upgrading the existing hospitals' infrastructure and establishing new hospitals in the country.
Rise in Medical Tourism in India
India is one of the potential countries for medical tourism, on account of affordable treatment costs, availability of skilled healthcare professionals, lesser wait times, etc. The increasing medical tourism has further created significant demands for air ambulance services also. According to the Minister of State for Civil Aviation (VK Singh), India has only 49 air ambulances operated by 19 operators. Out of these 49, Delhi has 39 air ambulances, followed by Maharashtra with 5.
However, this number is set to increase in the coming years due to growth in medical tourism, thereby creating new prospects for market growth. The increase in medical tourism has also led to the emergence of various new players in the market offering ambulance services and has also made the existing ones improve their services and cost offerings. This, in turn, is expected to create lucrative opportunities for the growth of the ambulance services market in the coming years, within India.
Report Scope:
India Ambulance Services Market, By Transport Vehicle:
- Ground
- Air
India Ambulance Services Market, By Services:
- Emergency
- Non-Emergency
India Ambulance Services Market, By Service Operators:
- Hospital Based Service
- Private Ambulance Service
- Government Ambulance Service
- Others
India Ambulance Services Market, By Equipment Type:
- Advanced Life Support
- Basic Life Support
India Ambulance Services Market, By Region:
- North
- South
- East
- West
Key Topics Covered:
1. Service Overview
2. Research Methodology
3. Impact of COVID-19 on India Ambulance Services Market
4. Executive Summary
5. Voice of Customer
6. India Ambulance Services Market Outlook
7. India Emergency Ambulance Services Market Outlook
8. India Non-Emergency Ambulance Services Market Outlook
9. Market Dynamics
10. Market Trends & Developments
11. Policy & Regulatory Landscape
12. India Economic Profile
13. Competitive Landscape
14. Strategic Recommendations
15. About the Publisher & Disclaimer
A selection of companies mentioned in this report includes
- Ziqitza Health Care Limited
- Stanplus Technologies Private Limited
- Medulance Healthcare Private Limited
- Air Rescuers Worldwide Private Limited
- Panchmukhi Air & Train Ambulance Services Pvt. Ltd.
- EMSOS Medical Pvt. Ltd.
- AmbiPalm Health Private Limited
- Goodmans Healthcare Services Pvt. Ltd.
- BVG India Limited
- Falcon Emergency
- EMRI Green Health Services
For more information about this report visit https://www.researchandmarkets.com/r/sz8gc3
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