The global ambulance services market size is expected to reach USD 50.0 billion by 2027, expanding at a CAGR of 9.3%, according to a new report by Grand View Research, Inc. Favorable reimbursement policies and rising medical tourisms are anticipated to fuel the demand for ambulance services over the forecast period.
The market is anticipated to grow due to favorable reimbursement policies in developed nations. In U.S., Medicare covers both non-emergency and emergency facilities for medically necessary cases, if the supplier fulfills stipulated requirements. In some circumstances, Medicare also covers unscheduled and irregular nonemergency trips. Medicare covers 80% of the approved amount for ambulance facility and the remaining 20% is covered by supplemental insurance policy of the patient. In New Jersey, Pennsylvania, and South Carolina, for repetitive, nonemergency trips, patients need prior authorization from Medicare Administrative Contractor (MAC). However, Medicare does not pay for ambulettes (wheelchair-accessible vans that provide nonemergency transportation).
In Victoria, Australia, patients can avail emergency medical assistance by securing a membership with Ambulance Victoria, which offers medical facilities at subsidized prices. Ambulance Tasmania provides free emergency medical assistance to Tasmanian residents. Residents of Queensland (Australia) are covered with the cost of emergency services across Australia, by the QLD state government. Similarly, in U.K., public healthcare system provides free emergency and non-emergency medical facilities. In addition, patients receive NHS funding for their treatment. In Germany, public health insurance (Gesetzliche Krankenversicherung) is compulsory for every citizen and this insurance also covers non-emergency and emergency medical facilities. Private health insurance (Private Krankenversicherung) is usually opted by those who have high yearly income.Ease of payment through reimbursement policies encourages patients to opt for emergency medical assistance more frequently, which is likely to bolster growth of the ambulance services industry.
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Further key findings from the study suggest:
- The ground ambulance services segment held the largest market share in 2019 owing to the rising incidence of road accidents across the globe
- Emergency services segment is anticipated to witness the fastest growth over the forecast period owing to the increasing prevalence of cardiovascular diseases such as cardiac arrest, stroke, and congestive heart failure
- The ALS segment is expected to witness rapid growth owing to rising awareness about life support facilities and increase in technologically advanced equipment and trained personnel
- The key players in the ambulance services market include London Ambulance Service NHS Trust; Acadian Ambulance Service; BVG India Limited; Falck A/S; Air Medical Group Holdings Inc.; Air Methods Corporation; and Ziqitza Healthcare Limited.
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Grand View Research has segmented the global ambulance services market on the basis of transport vehicle, emergency services, equipment, and region:
Ambulance Services Transport Vehicle Outlook (Revenue, USD Million, 2016 – 2027)
- Ground Ambulance
- Air Ambulance
- Water Ambulance
Ambulance Emergency Services Outlook (Revenue, USD Million, 2016 – 2027)
Ambulance Services Equipment Outlook (Revenue, USD Million, 2016 – 2027)
Ambulance Services Regional Outlook (Revenue, USD Million, 2016 – 2027)
- North America
- Asia Pacific
- New Zealand
- Latin America
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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