Ambulance Cots Market worth US$ 273 Million by 2029 – Exclusive Report by Fact.MR
Fact.MR published a report on the ambulance cots market that includes the global industry analysis 2014 – 2018 and forecast 2019 – 2029. The ambulance cots market report projects that the ambulance cots market is expected to reach ~ US$ 223 Mn by the end of 2019 in terms of value, and is estimated to reach ~ US$ 273 Mn by the end of 2029.
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Launch of New Ambulance Services and New Opportunities in Developing Countries
There are several air ambulance services and other innovative types of ambulances that are developed in the emergency medical service industry that utilize pneumatic ambulance cots or electric ambulance cots. For instance, in India, motorbike ambulances were launched in Delhi in 2017 and Mumbai in 2018. Similarly, in the U.S., Malley Industries, a supplier of New Brunswick’s ambulances, expanded its fleet into the U.S. market in 2016 with electric and pneumatic ambulance cots. Several private ambulance service providers offer air ambulance services across the world that use electric or pneumatic ambulance cots.
The trend of adopting air ambulances in both developed and developing regions is expected to positively influence the growth of the ambulance cots market during the forecast period. According to WHO, 1 ambulance per 50,000 population is a standard that a country should have or aim to reach, in order to meet the growing demand. However, in Nanjing, China, there are only 50 ambulances for a population of 8 million in 2013. Thus, there is a requirement for more ambulances in the APAC region, which is an opportunity for the ambulance cots market in the region.
Rising Installed Base of Ambulances offer Significant Growth Opportunities
According to the WHO and several scientists, the minimum number of ambulances required is estimated to be one in 50,000 population across the world. Some countries exceed the number of minimum ambulance requirement norms. To meet the rising incidence of emergencies across the globe and to reduce the duration of response, more ambulances are required.
Most countries, such as the U.S., the U.K., and Germany, have ambulances more than the required norms and yet are facing several conditions, such as delay in response, unequal distribution of ambulances in urban and rural areas, and increasing emergencies. This results in an increased demand for ambulance services in these regions that influence the growth of the ambulance cots market. Some countries, such as Singapore and Burma (Myanmar), have ambulances below the required norms. The number of ambulances needed in Burma is around 1149.
However, the country recently launched its first ambulance service in 2015 and has only 230 ambulances in its fleet. Other countries, such as Indonesia, have slightly more ambulances than the required norms, and still faces similar problems as those with insufficient ambulances. Thus rising number of ambulances in both the developed and developing nations drive the growth of the ambulance cots market.
Rising Number of Accidents Increasing the Usage of Ambulances – A Key Influencer
According to the World Bank data, 1.3 million people are killed in road accidents every year. Furthermore, there are about 30 million people that are seriously impacted by injuries caused by road traffic. Number of people injured, along with the number of deaths due to road accidents, are factors that are used to assess the number of road accidents. This excludes suicide involving the use of road motor vehicles. In 2014, it was assessed that 22% of GDP per capita in Thailand was associated with deaths and injuries due to the road traffic.
India and China also estimated that 14% and 15% respectively of the GDP per capita was associated with road accidents. According to a survey in India, in 2016, a total of 480,652 road accidents occurred that resulted in the death of 150,785 and 494,624 people with serious injuries. The rising proportion of vehicles and accidents are leading to the increasing use of emergency services, such as ambulance, which is expected to drive the growth of the ambulance cots market.
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Key Manufacturers of Ambulance Cots
Stryker Corporation and Ferno-Washington Inc. are the prominent players in the ambulance cots market. Other players in the ambulance cots market are Zhangjiagang New Fellow Med Co. Ltd., Jiangsu Rixin Medical Equipment Co. Ltd., Jiangsu Saikang Medical Equipment Co. Ltd., Dragon Industry (ZJG) Co., Ltd., Omega Surgical Industries, and Paramed International FZ Co., among others.
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