Ambulance services help in the transportation of ill patients or medically injured patients to hospitals and back from there as per requirement for the timely health check-up and treatment of patients by healthcare professionals. Ambulance services are important for the mobility of patients during emergencies. Effective ambulance services results in the timely medical treatment for patients suffering from any chronic disease or accidents victims. The rising number of emergency incidences is one of the primary factor that is likely to boost the growth of the market.
The global market for ambulance services is projected to expand at an 8.30% CAGR between 2013 and 2019. From a valuation of US$17 bn in 2012, the market is expected to rise to US$29.78 bn by 2019.
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How is the market expected to perform over the next years and owing to which factors?
The global ambulance services market is expected to perform outstandingly over the coming years and the number of service and service providers are also likely to increase extensively. This growth can be attributed to the mounting geriatric population across the globe and a considerable rise in the prevalence of chronic diseases such as diabetes and cancer. Factors such as rising importance of home healthcare, entrance of new companies in ambulance service providers, and promising reimbursement scenario.
For instance, recently the Kolhapur Municipal Corporation has introduced free pre and post-delivery ambulance across the district to women who are pregnant. This will help in spreading awareness regarding the availability of these services.
What factors are likely to restrain the growth of the market?
The global ambulance services market has been segmented into water ambulance, ground ambulance, and air ambulance services. The demand for air ambulance is increasing across developed nations for the transfer of organs and emergency cases. However, the global market is likely to be negatively impacted by the lack of air ambulance services as they are used for donation of critical organs such as heart for patients and the transplantation of organs to other cities. Implementation of strict rules by the Federal Aviation Administration is also another factor hindering the growth of the market.
Which region is likely to provide profitable growth opportunities?
In 2012, North America and Europe collectively held a share of 80% in the global ambulance services market. The markets in these regions have been growing owing to the prevalence of numerous players and advanced services. Over the forthcoming years, Asia Pacific is likely to exhibit strong growth and owing to the growing aged population in Chin and Japan. The UAE is also expected to emerge as a lucrative market for providers of ambulance services as the region introduced a fleet of 24 Mercedes ambulances.