The global ambulance services market size is expected to reach USD 67.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.6% from 2021 to 2028. Rising medical tourism and an increasing number of road accidents and CVD cases are the key driving factors for the market.
The growth of the market is due to favorable reimbursement policies in developed nations. In the U.S., Medicare covers both non-emergency and emergency ambulance services for medically necessary cases, if the supplier fulfills stipulated requirements. In some circumstances, Medicare also covers unscheduled and irregular non-emergency trips. Medicare covers 80.0% of the approved amount for emergency medical services and the remaining 20.0% is covered by the supplemental insurance policy of the patient. In New Jersey, Pennsylvania, and South Carolina, for repetitive, non-emergency trips, patients need prior authorization from Medicare Administrative Contractor (MAC). However, Medicare does not pay for ambulates (wheelchair-accessible vans that provide non-emergency transportation services).
In Victoria, Australia, patients can avail of emergency medical services by securing membership with Ambulance Victoria, which offers emergency medical services at subsidized prices. Ambulance Tasmania provides free emergency medical services to residents of Tasmania. Residents of Queensland (Australia) are covered with the cost of emergency services across Australia, by the QLD state government. Similarly, in the U.K., the public healthcare system provides free emergency and non-emergency medical services. In addition, patients receive NHS funding for their treatment. In Germany, public health insurance (Gesetzliche Krankenversicherung) is compulsory for every citizen and this insurance also covers non-emergency and emergency medical services. Private health insurance (Private Krankenversicherung) is usually opted by those who have high yearly income. Ease of payment through reimbursement policies encourages patients to opt for emergency medical services more frequently, which is likely to bolster the growth of the market.
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Ambulance Services Market Report Highlights
In terms of revenue, the ground ambulance segment held the largest share in 2020. The rising number of road accidents and increasing COVID-19 cases across the globe are major factors propelling segment growth
The emergency services segment held the largest market share in 2020 and is expected to grow fast over the forecast period due to the increasing number of CVDs
The Advanced Life Support (ALS) ambulance services segment held the largest market share in 2020. The growth of the segment is majorly driven by the increasing medical tourism across the globe
In Asia Pacific, the market is expected to witness the fastest growth rate over the forecast period owing to the rising number of COVID-19 cases in the region
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Ambulance Services Market Segmentation
Grand View Research has segmented the global ambulance services market on the basis of transport vehicle, equipment, emergency services, and region:
Ambulance Services Transport Vehicle Outlook (Volume, Units; Revenue, USD Million, 2016 – 2028)
Ambulance Emergency Services Outlook (Volume, Units; Revenue, USD Million, 2016 – 2028)
Ambulance Services Equipment Outlook (Volume, Units; Revenue, USD Million, 2016 – 2028)
Advanced Life Support (ALS) Ambulance Services
Basic Life Support (BLS) Ambulance Services
Ambulance Services Regional Outlook (Volume, Units; Revenue, USD Million, 2016 – 2028)
Middle East & Africa
List of Key Players of Ambulance Services Market
London Ambulance Service NHS Trust
Acadian Ambulance Service
BVG India Limited
America Ambulance Services, Inc.
Falck Denmark A/S
Air Medical Group Holdings, Inc. (AMGH)
Air Methods Corporation
Ziqitza Healthcare Limited
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About Grand View Research
Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.
Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.
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