Patient Transport Services Market is estimated to be valued at US$ 117.1 Billion by 2032
The global Patient Transport Services market is valued at US$ 34.1 Bn in 2021 and is expected to reach US$ 117.1 Bn by 2032, expanding at a CAGR of 12% between 2022 and 2032. According to Future Market Insights, a market research and competitive intelligence provider, global Patient Transport Services market has increased at a CAGR of roughly 11% over the last half-decade.
Ambulance demand is rising resulting from beneficial reimbursement rules, a important increase in medical tourism, a rise in road accidents, and a rising senior populace. Road accidents are becoming more common, prompting emergency medical care and ambulance assistance. According to the Association for Safe International Road Travel (ASIRT), 1.3 million people die in car accidents each year, with another 20-50 million injured or incapacitated.
|Patient Transport Services Market CAGR (2022 – 2032)||12%|
|Patient Transport Services Market Size (2022)||US$ 37.9 Bn|
|Patient Transport Services Market Size (2032)||US$ 117.1 Bn|
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In addition, the rising number of deaths as a result of traffic accidents necessitates prompt medical attention. Government policies that support the healthcare business, as well as reimbursement programmes for healthcare services, are propelling the market forward. The need for Patient Transport Services is increasing as a result of the rise in medical tourism and the construction of infrastructure for healthcare facilities. Cardiovascular illnesses, which include cardiac arrest, coronary artery disease, heart failure, and stroke, frequently necessitate rapid medical attention and treatment because they are a primary cause of death and are predicted to drive market growth.
Medical tourism is also on the rise as a result of improved healthcare facilities and reimbursement rules. According to the Directorate-General of Commercial Intelligence and Statistics of India’s report “Export Health Services: 2015-2016,” India had approximately 58,300 medical tourists with visas for medical travel in 2015-2016. In addition, according to a data published by Ctrip, a renowned Chinese travel operator, medical tourism in China grew by 500% in 2016, with 500,000 outbound medical travels.
Other key contributing causes for the rising demand for Patient Transport Services in the next five years include increased awareness of life support services and the availability of qualified healthcare specialists to address healthcare issues.
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Key Players :
- Envision Healthcare
- London Ambulance Service NHS Trust
- Acadian Ambulance Service
- BVG India Limited
- America Patient Transport Services, Inc
- Falck Denmark A/S
- Air Medical Group Holdings, Inc.
- Air Methods Corporation
- Ziqitza Healthcare Limited
- Medivic Aviation
Key Takeaways from Market Study
- Patient Transport Services Market was valued at US$ 34.1 Bn in 2021. According to Future Market Insights, Patient Transport Services Market revenue would increase 3X between 2022 and 2032, reaching roughly US$ 117.1 Bn in 2032.
- In terms of Transport Vehicle Type, the Ground Ambulance accounts for the highest projected CAGR of over 13.1%.
- In terms of the Emergency Services of Patient Transport Services Market, Emergency Services accounts for the highest CAGR of 11.3% during the historic period (2017-21).
To strengthen their position in the market, key firms are engaging into collaborations to achieve operational excellence.
- In September 2017, for example, BVG India Limited and the government of Andhra Pradesh cooperated to provide emergency medical services in the state. In Andhra Pradesh, the business offered 467 ambulances, including 389 basic life support and 76 advanced life support ambulances. This joint venture is projected to increase the company’s revenue.
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Envision Healthcare, London Ambulance Service NHS Trust, Acadian Ambulance Service, BVG India Limited, America Patient Transport Services, Inc. are some of the major companies in the Patient Transport Services industry. To enhance their geographical footprint, the top players are using novel product launch tactics. Some of the growth tactics highlighted include mergers and acquisitions, strategic cooperation, and partnership partnerships.
Future Market Insight’s Domain Knowledge in Healthcare Division
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Healthcare domain team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analysed the Healthcare industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
Market Segments Covered in Patient Transport Services Market Analysis
By Transport Vehicle:
- Ground Ambulance
- Air Ambulance
- Water Ambulance
By Emergency Services Type:
- Emergency Services
- Non-emergency Services
By Equipment Type:
- Advanced Life Support (ALS) Patient Transport Services
- Basic Life Support (BLS) Patient Transport Services
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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