Ambulance Services Market by Type and Geography - Forecast and Analysis 2020-2024

  • Published: Nov 2020
  • Pages: 120
  • SKU: IRTNTR45741
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The ambulance services market size has the potential to grow by USD 7.77 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by type (emergency and non-emergency) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Acadian Ambulance Service Inc., Air Methods Corp., America Ambulance Services Inc., Babcock International Group PLC, BVG India Limited, Falck AS, Global Medical Response Inc., Netcare ltd., PHI Inc., and Priority Ambulance LLC.

Market Overview

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Market Competitive Analysis

The ambulance services market is fragmented and has the presence of local and regional players. Vendors are focusing on expanding their service offerings by providing both ground and air ambulance services. Key vendors are primarily focusing on the implementation of lightweight fleet, advanced medical technologies onboard, and robust systems. Acadian Ambulance Service Inc., Air Methods Corp., and America Ambulance Services Inc. are some of the major market participants. Although the increasing number of road accidents will offer immense growth opportunities, the high cost and operational constraints of air ambulances will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this ambulance services market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this ambulance services market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

 

  • Acadian Ambulance Service Inc.
  • Air Methods Corp.
  • America Ambulance Services Inc.
  • Babcock International Group PLC
  • BVG India Limited
  • Falck AS
  • Global Medical Response Inc.
  • Netcare ltd.
  • PHI Inc.
  • Priority Ambulance LLC

 

Ambulance Services Market: Segmentation by Geography

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North America was the largest ambulance services market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Increasing road accidents, the rising demand for air ambulance services, the growing geriatric population, and the availability of favorable reimbursement policies will significantly drive ambulance services market growth in this region over the forecast period.

37% of the market’s growth will originate from North America during the forecast period. The US is a key market for ambulance services in North America. However, market growth in this region will be slower than the growth of the market in other regions.

Ambulance Services Market: Segmentation by Type

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The emergency service segment provides services for accident cases, strokes, cardiac arrest, and other cases that require urgent medical assistance. Vendors usually provide services such as advanced life support or paramedic care, and basic life support. One of the significant growth factors for the segment is the increasing prevalence of cardiovascular disorders (CVDs) owing to a rise in pollution and the adoption of sedentary lifestyles. 

Market growth in the emergency segment will be faster than the growth of the market in the non-emergency segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the ambulance services market size.

Ambulance Services Market: Key Drivers and Trends

The increasing number of road accidents will be one of the significant factors contributing to the ambulance services market growth. With the rising number of vehicles on the roads and roads being the primary mode of transportation, road accident injuries and fatalities have also increased. The increasing number of road accidents can be largely attributed to human errors such as speeding, drunken driving, and not following traffic and driving rules. Quick ambulance services in road accident-related cases are essential, as a delay in the treatment of the injured person can result in fatality or patients may lose their limbs due to serious injuries. Hence, with an increasing number of road accidents, the demand for ambulance services will also grow. The ambulance services market size is expected to grow at a CAGR of over 5% during the forecast period.

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Ambulance Services Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive ambulance services market growth during the next five years
  • Precise estimation of the ambulance services market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the ambulance services industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of ambulance services market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The ambulance services market growth will increase by $7.77 billion during 2019-2024.
The ambulance services market is expected to grow at a CAGR of 5.11% during 2019-2024.
Technavio has segmented the ambulance services market by type (Emergency and Non-emergency) and geographic (North America, Europe, APAC, South America, and MEA).
Acadian Ambulance Service Inc., Air Methods Corp., America Ambulance Services Inc., Babcock International Group PLC, BVG India Limited, Falck AS, Global Medical Response Inc., Netcare ltd., PHI Inc., Priority Ambulance LLC are a few of the key vendors in the ambulance services market.
North America will register the highest growth rate of 36.81% among the other regions. Therefore, the ambulance services market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the ambulance services market growth are:
  • Increasing number of road accidents
The ambulance services market vendors should focus on grabbing business opportunities from the emergency segment as it accounted for the largest market share in the base year.
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