Emergency Medical Services Market is expected to reach US$ 37.2 Billion by 2032
The global emergency medical services market is expected to grow at a 6.2% CAGR, with a market valuation of US$ 37.2 billion by 2032. According to Future Market Insights, the ground transportation sector will account for 86.2% of the total market share in 2021, and this trend is expected to continue throughout the assessment period.
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Demand for emergency medical services is increasing as the number of cardiac arrests and accidents is rising across various countries. Software solutions that give technological breakthroughs in emergency medical services provide additional benefits such as forecasting future health hazards, improved communication during an emergency crisis, and real-time guidance during emergency scenarios.
Growth in the emergency medical services market is influenced by various factors which include rising number of cases associated with infections, high risk of morbidity among the geriatric population, increasing investments and funding for medical services, growing volume of trauma cases, high healthcare expenditure, as well as a rise in the number of hospitals establishments worldwide.
Several other factors that influence the market for emergency medical services positively include the accessibility of emergency medical services through a well-developed transportation infrastructure, improved communication channels, robust software solutions, and growing activities related to procedural aid during emergency situations.
Additionally, the utilization of air ambulances, which are medical transport services that are essential in the event of a medical emergency, have promoted the growth of the emergency medical services industry.
“Rising adoption of air ambulances, along with growing demand for drone-based emergency medical services will augment the growth in the market,” says an FMI analyst.
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- Advance life support services accounted for about 56.6% of the global market share in 2021, owing to the rise in demand due to the advent of the COVID-19 pandemic.
- As providers, hospital-based EMS held a dominant share of 27.4% in 2021. Hospital-based EMS provide pre-hospital care for patients during cases of emergency and trauma.
- Ground transport services are a dominant segment in terms of the fleet within the global market, carrying a market share of around 86.2% in 2021.
- North America is observed to be the leading region with an approximate value share of 35.6% in 2021.
Market expansion will be hampered by increasing vendor competition. Because there are so many brands and regional and local vendors, there are a lot of rivalries. Furthermore, suppliers in the emergency medical services industry are expanding their offerings to include mobile healthcare, medical educators, primary care extenders, and patient advocates. During the focused period, increased competition is expected to have a negative impact on the worldwide emergency medical service market growth. The emergency medical services industry is fragmented, and providers are competing by using both organic and inorganic growth techniques.
The North American region is the largest emergency medical equipment market due to the presence of well-established healthcare infrastructure, high healthcare expenditure, and the adoption of advanced medical technologies.
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Key Market Segments Covered in Emergency Medical Services Industry Research
- Basic Life Support
- Advance Life Support
- Mortuary Services
- Patient Transfer Services
- Fire-Department-Based EMS
- Government EMS
- Hospital-Based EMS
- Private Ambulance Service
- Other EMS Agencies
- Ground Transport
- Air Transport
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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