Ambulance Services Market: Current Analysis and Forecast (2021-2027)

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Emphasis on Mode of transportation (Air Ambulance, Ground Ambulance, Water Ambulance); Services (Emergency Medical Services and Non-Emergency Medical Services); Equipment (Basic Life Support (BLS) and Advanced Life Support (ALS)); Payer (Public, Private, Out-Of-Pocket); End-user (Hospitals, Nursing homes, Home healthcare settings, Others) and Region/Country

Detailed Analysis of COVID-19 Impact on the Ambulance Services Market

Pages:

332

Table:

78

Figure:

152

Report ID:

UMHE21917

Geography:

Clear
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Ambulance Services Market
Ambulance Services Market

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The global ambulance services market is experiencing significant growth due to the increasing geriatric population coupled with rising traumatic accidents and chronic diseases, stepping growth on the support of extensive use of ambulance services for identifying and managing medical equipment and medical staff that offer medical care in flight, while non-medically equipped and staffed aircraft that are growing at an alarming rate. For instance, In April 2019, Air Methods announced the expansion of its partnership with Anthem Blue Cross and Blue Shield. The company’s services may be part of its in-network health coverage benefits in six states in the United States. Under the terms of the partnership, Anthem-affiliated health plan members in California, Georgia, Nevada, Colorado, Virginia, and New York may receive Air Methods’ critical care air services at discounted in-network rates. Air ambulances are ambulance services that are vital for transportation in case of medical emergencies. Air ambulances are armed to assist in transporting patients and organs. These services offer various benefits, such as convenience, flexibility, and safety. Therefore, the market for ambulance services is expected to witness a significant CAGR of 8% during the forecast period.

The global ambulance services market is expected to register a CAGR of around 8% from 2021 to 2027. This is mainly due to the increased medical tourism, frequency of road accidents, and diseases such as cardiovascular diseases, heart attack, and chronic diseases coupled with the growth of the geriatric population and the stringent government regulations coupled with the growing focus of major stakeholders in the healthcare industry to adopt to make products and services more sustainable and eco-friendlier. Major healthcare companies are investing heavily in their services due to the rising prevalence of traumatic road accidents are becoming more common, demanding quick medical attention and ambulance assistance. According to the Association for Safe International Road Travel (ASIRT), Approximately 1.35 million people die in road crashes each year; on average 3,700 people lose their lives every day on the roads. Moreover, as per National Health Portal, 20 million people in India are hospitalized to due injuries such as road accidents, burns, and falls. Furthermore, various factors such as the rise in medical transportation and the availability of reimbursement policies, and health innovation will drive the awareness of using ambulance services. Therefore, the market for ambulance services is also expected to boost the demand for ambulance services over the forecast period.

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Acadian Ambulance Service, Inc., Air Methods Corporation, AirMed International LLC, American Medical Response, Babcock Scandinavian AirAmbulance, BVG India Ltd., European Air Ambulance, Express Air Medical Transport, LLC, Falck Danmark A/S, and Global Medical Response are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Mode of transportation, ground ambulance category accounted for the majority share in the market in 2020”

Based on mode of transportation, the market is segmented into an air ambulance, ground ambulance, and water ambulance. The ground ambulance segment dominated the market and is expected to maintain its dominance throughout the forecast period as they provide many modes of transport such as pickup trucks, cars, motorcycles, bicycles, all-terrain vehicles, golf carts, and bus. This is mainly due to the rising geriatric population coupled with unhealthy lifestyles and rising cases of cardiovascular disorders across the globe.

“Amongst Equipment, advanced life support (ALS) is expected to witness highest CAGR during the forecast period”

Based on equipment, the market is segmented into basic life support (BLS) and advanced life support (ALS). Advanced life support (ALS) dominated the market and is expected to maintain its dominance throughout the forecast period. This is mainly due to the growth in technologically advanced equipment and qualified workers, as well as growing awareness of life support services and the high frequency of cardiovascular illnesses and road accidents are expected to boost the ALS segment over the forecast period.

“Amongst End user, the hospital is expected to witness the highest CAGR during the forecast period”

Based on end-users, the market is fragmented into hospitals, nursing homes, home healthcare settings, and others. In 2020, the hospital’s segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. This is mainly due to the rising rate of hospital admissions coupled with increasing emphasis on the enhancement of healthcare facilities is expected to propel the segment growth of the ambulance services market. As per British Heart Foundation, there are approximately 200,000 hospital visits every year due to heart attacks, which is, one visit every three minutes. It also reported that every year approximately 40,000 deaths are expected to take place due to stroke in the U.K.

“North America to witness significant growth during the forecast period”

North America grabbed a significant market share of the global ambulance services market in 2020, and it is expected to grow with considerable CAGR during the forecast period. The increasing acceptance of ambulance services along with the execution of emergency medical services, and non-emergency medical services are desirable solutions by healthcare suppliers, for giving better patient care at lesser operating costs are the important factors, stirring the market in North America. For instance, in February 2019, the U.S. Department of Health and Human Services (HHS), Center for Medicare and Medicaid Innovation (Innovation Center), announced a new payment model for emergency ambulance services that aims to allow Medicare Fee-For-Service (FFS) beneficiaries to obtain the most appropriate level of care at the right time and place with the potential for lower out-of-pocket costs. Additionally, these reimbursement regulations make ambulance services accessible to the patient population, hence propelling the market’s growth.

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Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
  • The report presents a quick review of overall industry performance at one glance.
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
  • The study comprehensively covers the market across different segments.
  • Deep dive regional level analysis of the industry.

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1.1.Market Definitions
1.2.Limitation 
1.3.Stakeholders
1.4.Currency used in Report
2.1.Research Process of the Ambulance Services Market
2.2.Research Methodology of the Ambulance Services Market
2.3.Forecasting Method 
2.4.Respondent Profile 
2.5.Main Objective of the Ambulance Services Market Study
3MARKET SYNOPSIS

 

4EXECUTIVE SUMMARY
5GLOBAL AMBULANCE SERVICES MARKET COVID-19 IMPACT
6GLOBAL AMBULANCE SERVICES MARKET REVENUE (USD BN), 2019-2027F
7.1.Air ambulance
7.2.Ground ambulance
7.3.Water ambulance 
8.1.Emergency medical services
8.2.Non-emergency medical services
9.1.Basic Life Support (BLS)
9.2.Advanced Life Support (ALS)
10.1.Public
10.2.Private
10.3.Out-of-pocket 
11.1.Hospitals 
11.2.Nursing homes
11.3.Home healthcare settings
11.4.Others 
12.1.North America
 12.1.1.U.S.
 12.1.2.Canada
 12.1.3.Rest of North America 
12.2.Europe 
 12.2.1.Germany
 12.2.2.UK
 12.2.3.France
 12.2.4.Italy
 12.2.5.Spain
 12.2.6.Rest of Europe
12.3.Asia-Pacific
 12.3.1.China
 12.3.2.Japan
 12.3.3.India
 12.3.4.Australia
 12.3.5.Rest of Asia-Pacific
12.4.Rest of World
13.1.Market Drivers
13.2.Market Challenges
13.3.Impact Analysis
14AMBULANCE SERVICES MARKET OPPORTUNITIES
15AMBULANCE SERVICES MARKET TRENDS
16POLICY & REGULATORY FRAMEWORK
17.1.Demand Side Analysis
17.2.Supply Side Analysis
18VALUE CHAIN ANALYSIS
19.1.Competitive Landscape
 19.1.1.Porter’s Five Forces Analysis 
20.1.Acadian Ambulance Service, Inc.
20.2.Air Methods Corporation
20.3.AirMed International LLC
20.4.American Medical Response
20.5.Babcock Scandinavian AirAmbulance
20.6.BVG India Ltd.
20.7.European Air Ambulance
20.8.Express Air Medical Transport, LLC
20.9.Falck Danmark A/S
20.10.Global Medical Response
21DISCLAIMER

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global ambulance services market were the three major steps undertaken to create and analyze the adoption of ambulance services in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global ambulance services market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the ambulance services market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the ambulance services market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as a mode of transportation, services, equipment, payer, end-user, and region. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the ambulance services market. Further, we conducted factor analysis using dependent and independent variables such as mode of transportation, services, equipment, payer, end-user, and region of ambulance services. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the ambulance services market sector across the globe.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global ambulance services market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of revenue (USD) and the adoption rate of ambulance services market across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the global ambulance services market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market


Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Ambulance Services Market
Ambulance Services Market

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Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global ambulance services market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the mode of transportation, services, equipment, payer, end-user, and region in the global ambulance services market.

The main objective of the Global Ambulance services Market Study

The current & future market trends of the global ambulance services market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of the ambulance services market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of the mode of transportation, services, equipment, payer, end-user, and region.
  • Define and analysis of the regulatory framework for the ambulance services market industry.
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
  • Analyze the current and forecast market size of the ambulance services market for the major region.
  • Major countries of regions studied in the report include North America, Europe, Asia Pacific, and Rest of the world.
  • Company profiles of the Ambulance services market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry

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