[Latest] Global Medical Transport Services Market Size/Share Worth USD 113.55 Billion by 2028 at a 4.50% CAGR: Facts & Factors (Analysis, Outlook, Players, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)

NEW YORK, United States, March 15, 2023 (GLOBE NEWSWIRE) — Facts and Factors has published a new research report titled “Medical Transport Services Market Size, Share, Growth Analysis Report 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), and By Region – Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.

“According to the latest research study, the demand of global Medical Transport Services Market size & share was valued at approximately USD 87.20 billion in 2021. The market is expected to grow above a CAGR of 4.50% and is anticipated to reach over USD 113.55 billion by 2028.”

The report analyzes the medical transport services market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the global market.

Medical Transport Services Market Overview:

Medical transport is also known as emergency medical services and paramedic services. Ambulance services provide medical transport for illnesses and injuries. These services are typically offered outside hospitals through transportation and direct care. Specialized vehicles transport these medical services by land, air, and water to the needed locations. The ambulance, emergency air ambulance, emergency surface ambulance, non-emergency surface ambulance, non-emergency air ambulance, and other services are considered part of ambulance services.

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Medical transportation services offer convenient moving of patients, medications, medical equipment, samples, and specimens between locations. The notion of healthcare transportation is still in its infancy, but it has the potential to save both patients and healthcare professionals a significant amount of time. One of the most prevalent types of healthcare transportation services is the ambulance. The extent of ambulance services includes providing emergency medical treatment and planning a prompt patient transfer to the next level of care.

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Report Scope:

Key Insights from Primary Research

• As per the analysis, the medical transport services market share is likely to grow above a CAGR of around 4.50% between 2022 and 2028.
• The Medical Transport Services market size was worth around US$ 87.20 billion in 2021 and is estimated to hit approximately US$ 113.55 billion by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• Due to good payment rules, an increase in traffic accidents, medical tourism, and the number of older people, demand for ambulance services is rising. Road accidents are rising, and these incidents need immediate medical care and ambulance assistance.
• By transport vehicles, the ground ambulance category dominated the market in 2021.
• By emergency services type, the emergency services category dominated the market in 2021.
• North America dominated the global medical transport services market in 2021 on the basis of region.

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Industry Growth Drivers

• An increase in accidents will drive the market demand

The market value of medical transportation services will rise due to rising transportation services and growing public knowledge of the advantages of these services. The development of the global healthcare infrastructure has led to the emergence of healthcare transportation services. Emergency pre-hospital treatment and stabilization of significant diseases and injuries, as well as patient transfer services for in-depth care, are provided by ambulances or ambulance services. Pre-hospital therapy for the injured is provided by ambulance services, which constitute a crucial connection between medical care and disaster management systems.

Restraints

• Increased cost of transportation hampers the market growth

Spending money to provide and enhance healthcare transportation services will be very expensive. Underdeveloped economies are unable to make such investments when local players are unwilling to do so. The rate of market expansion will be significantly affected as a result. Providing high-quality healthcare transportation services is a challenge for the industry. The key players’ small reach is restricting the rate of growth.

Medical Transport Services Market: Segmentation Analysis

The global medical transport services market is segregated based on transport vehicles, emergency services, equipment, and region.

 Based on product, the market is divided into Ground Ambulance, Air Ambulance, and Water Ambulance. Among these, ground ambulance led the market in 2021 and is expected to maintain its dominance during the forecast period.

Based on emergency services type, the market is classified into Emergency Services and Non-emergency Services. Emergency services will dominate the market in 2021. Based on equipment type, the market is segmented into basic life support (BLS) ambulance services and advanced life support (ALS) ambulance services. In 2021, advanced life support (ALS) Ambulance Services will dominate the market.

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Regional Analysis:

• North America dominates the market during the forecast period.

In 2021, North America dominated the market for ambulance services. The need for ambulance services in North America is expanding due to numerous significant market players, rising demand for high-quality healthcare services, a well-established healthcare infrastructure, and favorable healthcare policies and regulatory frameworks in the healthcare sector.

Due to the rise in the number of elderly and obese people, who are more vulnerable to numerous chronic and acute diseases, the region has a high proportion of the global market. This surge in acceptance of modern treatment techniques and favorable reimbursement policies may be attributed to this.

Competitive Players:

The report contains qualitative and quantitative research on the global medical transport services market, as well as detailed insights and development strategies employed by the leading competitors.

Some of the main players in the global medical transport services market include;           

• 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

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Recent Industry Developments:

• In September 2020, The International Critical Air Transfer Team (ICATT) and the Kyathi collaborated to develop India’s first integrated air ambulance service in Karnataka.
• In October 2020, Advatech Healthcare Europe introduced HIPPO Mobility, the first technology-driven, customized, asset-light, and affordable transportation service in the UK for non-emergency patients, the elderly, and people with disabilities.

The global medical transport services market is segmented as follows:

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

By Region

• North America
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Southeast Asia
• The Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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Key questions answered in this report:

• What is the size of the medical transport services market and what is its expected growth rate?
• What are the primary driving factors that push the medical transport services market forward?
• What are the medical transport services Industry’s top companies?
• What are the different categories that the medical transport services Market caters to?
• What will be the fastest-growing segment or region?
• In the value chain, what role do essential players play?
• What is the procedure for getting a free copy of the medical transport services market sample report and company profiles?

Key Offerings:

• Market Size, Trends, & Forecast by Revenue | 2022−2028
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis by Transport Vehicle, Emergency Services Type, Equipment Type, and Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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