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Global Ambulance Services Market

Dublin, Sept. 13, 2023 (GLOBE NEWSWIRE) -- The "Ambulance Services Market Size, Share & Trends Analysis Report By Transport Vehicle (Ground Ambulance, Air Ambulance, Water Ambulance), By Emergency Services, By Equipment, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The trajectory of the global ambulance services market is set to ascend to a projected USD 82.4 billion by 2030, propelled by an anticipated compound annual growth rate (CAGR) of 9.8% from 2022 to 2030. This journey is orchestrated by several key factors including the surge in chronic disorders, the rise of the global geriatric population, and an escalation in traumatic accidents, all weaving a compelling growth narrative for the ambulance services market.

This expansion is not without its drivers. The market's growth finds a staunch ally in favorable reimbursement policies across developed nations. In the United States, for instance, Medicare blankets both emergency and non-emergency ambulance services for medically necessary cases, granted suppliers fulfill stipulated requisites. Furthermore, the market is bolstered by a steady increase in the frequency of traumatic accidents globally. For instance, according to the Association for Safe International Road Travel, about 1.35 million lives are claimed by road accidents annually, with 20-25 million individuals incurring injuries leading to permanent disabilities. The upshot of this scenario is an anticipated surge in demand for air ambulance services, thereby injecting momentum into the ambulance services market.

The COVID-19 pandemic spotlighted the ambulance services market. During the pandemic's second wave, the Maharashtra Emergency Medical Service (MEMS) reported a 33% increase from 2020 and an 18% increase from the pre-pandemic era. However, as COVID-19 cases wane, the demand for ambulance services could temporarily wane in 2022-2023. Nevertheless, the market is forecasted to regain momentum post-2023, largely due to the amplification of ambulance fleets globally. For example, The Hindu reported that in May 2021, the Greater Chennai Corporation unveiled 250 COVID-19-specialized ambulances for the city's various zones.

Report Highlights

• The ground ambulance segment commanded the market based on transport vehicles, dominating with a substantial revenue share of 64.6% in 2022. This is attributed to the rising global incidence of accidents.

• In terms of emergency services, the emergency services segment reigned supreme with the largest revenue share of 60.6% in 2022.

• Equipment-wise, the Advance Life Support (ALS) ambulance services segment took the lead, capturing the largest revenue share of 64.2% in 2022.

• North America held the reins of the ambulance services market, reigning with the largest revenue share of 48.1% in 2022. The robust growth can be credited to factors like the presence of key market players, a burgeoning demand for high-quality healthcare services, robust healthcare infrastructure, and favorable reimbursement policies and regulatory reforms in the healthcare sector.