New York, USA, Oct. 13, 2020 (GLOBE NEWSWIRE) -- The communal transmission of COVID-19 has created a significant impact on the global ambulance services market. The growth of the global market is mainly attributed to rising cases of road accidents and increasing adoption of product development. Multiple leading organizations are opting for several strategies to fight against the pandemic. For example, in June 2020, Mahindra launched BS-6 Supro ambulance amid the pandemic chaos. The ambulance is manufactured with essential equipment such as fire extinguisher provision, an oxygen cylinder, foldable stretcher cum trolley, medical kit box, and announcement system. These factors may provide future opportunities for the global ambulance services market, during the projected timeframe. By implementation of such plans, the ambulance services companies worldwide are preparing for the post-pandemic impact.
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Our report includes:
- Technological Impact
- Social Impact
- Investment Opportunity Analysis
- Pre- & Post-COVID Market Scenario
- Infrastructure Analysis
- Supply Side & Demand Side Impact
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As per the recent publication of Research Dive, the global market for ambulance services is set to generate a revenue of $34.8 million by 2027, at a 1.2% growth rate, throughout the analysis period. The segmentation of the market has been done depending on services, mode of transportation, payers, end-use, and region. The report provides detailed information on driving factors, lucrative opportunities, vital segments, restraints, and leading companies in the global market.
Factors Affecting the Market Growth
As per our analyst estimates, rapid growth in the prevalence of chronic diseases coupled with an increasing number of road traffic accidents is driving the global ambulance services market, during the forecast period. However, the higher costs of air ambulances obstructing the global ambulance services market growth.
Air Ambulance Services Market will be the Most Lucrative
On the basis of a mode of transportation, the global ambulance services market is classified into air ambulance services, water ambulance services, and ground ambulance services. The air ambulance services are accounted for $3.3 million in 2019 and are projected to increase at a CAGR of 0.7% by the end of 2027. The growing adoption of fixed-wing aircraft, airplanes, helicopters in healthcare facilities may create remarkable opportunities for air ambulance services.
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Emergency Medical Services Shall Have Exponential Growth
On the basis of services the global ambulance services market is majorly divided into emergency medical services and non-emergency medical services. The emergency medical services will register a revenue of $22.6 million in 2027 and is expected to grow at a growth rate of 0.6%, over the projected period; due to the massively growing prevalence of cardiovascular diseases like stroke, cardiac arrests, and heart failure.
Private Payer Segment To be the Most Lucrative
Based on payer, the global ambulance market is analyzed across public, private, out of pocket. The public payers held the significant share and are expected to generate a revenue of $13.3 billion in 2027 at a growth raate of 1.0%, throughout the anlysis period. Contrary to this, the private payer will be the rapidly-growing segment and is valued at $11.6 billion in 2027, at a 1.7% CAGR, during the forecast period.
Hospital Segment to Have Massive Opportunities in the Global Market
Depending on end-use, the global ambulance services market is categorized into hospitals, nursing homes,home healthcare settings, and others. The hospital segment shall have lucrative growth and is expected to generate a revenue of $19.4 billion in 2027 at a 1.4% CAGR, throughout the analysis period. Significantly rising rate of hospital admissions coupled with increasing emphasis on the enhancement of healthcare facilities is expected to propel the segment growth, throughout the review period.
Geographical Analysis and Major Market Players
Based on the geographical region, the global ambulance services market is classified into North America, Europe, Asia Pacific, and LAMEA. The Asia-Pacific region for the ambulance services market valued at $9.0 million in 2027 and is anticipated to surge at a 1.6% CAGR, during the projected period; owing to a growing number of road accidents and rising emphasis on the improvement of healthcare infrastructure in the region.
Top 10 significant ambulance service organization includes -
- Envision Healthcare
- Acadian Ambulance Service
- ZIQITZA HEALTHCARE LIMITED
- Babcock Scandinavian AirAmbulance
- Air Methods
- America Ambulance
- DUTCH HEALTH B.V.
- BVG India Limited
- London Ambulance Service NHS Trust
- Falck A/S.
The report summarizes various aspects of all these prominent players including financial performance, recent strategic moves & developments, product portfolio, and SWOT analysis. Quick Download Top Companies Development Strategies Summary Report
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