Ambulance Services Market Size, Share, Trends, Growth 2030

Ambulance Services Industry Perspective

The global ambulance services market size is set for rapid growth over the forecast period. In terms of revenue, the global ambulance services market accounted for USD 42.4 Billion in 2022 and is expected to reach USD 89.2 Billion by 2030, growing at a CAGR of 9.76% during the forecast period.

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Global Ambulance Services Market: Overview

An ambulance is typically a medically equipped vehicle that takes patients to treatment facilities, such as hospitals. Ambulances are used by emergency medical services to respond to medical emergencies. They are generally equipped with sirens and warning flashlights. They can quickly transport patients, equipment that is needed for administering emergency care, and other definitive care with ease. Demand for ambulance services is on the increase due to favorable rebate policies, growing medical tourism, an increasing number of road accidents, and an increasing geriatric population.

Key Insights

• As per the analysis shared by our research analyst, the global Ambulance Services Market is expected to grow annually at a promising CAGR of around 9.76% during the forecast period 2023-2030.
• In terms of revenue, the global Ambulance Services Market size was valued at around USD 42.4 billion in 2022 and is expected to reach USD 89.2 billion by 2030.
• An ambulance is a specially designed vehicle used to transport sick or injured people to medical facilities, typically in emergency situations. Ambulances are staffed by trained medical professionals, such as paramedics or emergency medical technicians (EMTs), who provide on-site medical care and transportation to hospitals or other medical facilities.
• Based on type, the emergency segment held the largest market share in 2022.
• Based on mode of transport, the ground segment held the dominating market share in 2022.
• Based on region, the North American region held the largest market share in 2022.

Global Ambulance Services Market: Growth Factors

Alarming rate of accidents and road crashes to drive the global market expansion

Road crashes are increasing rapidly and this is boosting the demand for medical care and ambulance services. A research study shows that nearly 1.3 million people die every year in road accidents and approximately 20-50 million get injured. Road accidents are among the top major cause of death across the globe. According to the Association for Safe International Road Travel, in the United States, every year nearly 37,000 people die due to road accidents and nearly 2.35 million people get either disabled or injured. In India, the ratio of road accidents and deaths due to the same have increased by 2.5% and 4.6% respectively from 2014 to 2015.

Moreover, it has also been reported that nearly 400 deaths are encountered per day in India. Thus, traffic accident is one of the major factors driving the demand for medical equipment and emergency services, especially since the need for emergency medical transportation is accelerating rapidly. Moreover, the rise in Covid-19 cases across the globe has also led to a sharp increase in demand for an ambulance. Apart from Covid-19, in general, according to British Heart Foundation, there are nearly 2 lakh hospital visits per year due to heart attacks and approximately 40,000 deaths due to stroke in the United Kingdom. The number has even increased after the sudden outbreak of Covid-19.  These are among the top causes of death worldwide, which highly demands medical care as soon as possible. Thus, the growth in cardiovascular diseases is predicted to bolster the demand for the global Ambulance Services Market.

Global Ambulance Services Market: Restraints

High cost of services and disruption of supply chain during emergency situations might hinder the growth of the market.

Some key restraints of the ambulance industry include the high cost of ambulance services, especially for uninsured or underinsured patients, which can limit demand. Additionally, there is often a shortage of qualified EMS personnel, which can hinder the quality and availability of services. Government regulations and bureaucratic processes can also create barriers to entry for new ambulance service providers. Moreover, the COVID-19 pandemic has disrupted the supply chain for ambulance equipment and delayed the production of new ambulance units. Finally, safety concerns, including the risk of accidents and injuries during transportation, can also be a restraint for the market.

Global Ambulance Services Market: Opportunities

Introduction of smart ambulances and the rising geriatric population create ample opportunities for the market

Some key opportunities for the global Ambulance Services Market include the development of new and innovative technologies that can improve the quality and efficiency of ambulance services, such as telemedicine and smart ambulances. Additionally, there is growing demand for community paramedicine programs, which provide preventive and primary healthcare services in the community. The increasing focus on patient-centered care and value-based healthcare models also presents opportunities for ambulance services to differentiate themselves based on the quality of care and patient outcomes. Finally, the aging population and the rise in chronic diseases create opportunities for ambulance services to provide more specialized and comprehensive care to these populations.

Global Ambulance Services Market: Challenges

Complex insurance and billing systems act as a challenge to the market

The key challenges of the ambulance industry include the need to balance quality of care with cost-effectiveness, which can be difficult to achieve. In addition, the market is highly regulated, which can create barriers to entry and limit innovation. Finally, ambulance services must navigate complex insurance and billing systems, which can create administrative challenges. These factors might act as a challenge to the growth of the market.

Global Ambulance Services Market: Segmentation

The global Ambulance Services Market is segmented into type, mode of transport, equipment, and region.

Based on type, the market is bifurcated into emergency and non-emergency medical transport. The emergency medical transport segment held the largest market share in 2022 and is further predicted to grow rapidly at a notable CAGR during the forecast period. This is mainly because the emergency segment is a critical component of the overall Ambulance Services Market, as emergency medical services (EMS) play a vital role in saving lives and improving patient outcomes. Advances in EMS technology, such as telemedicine and GPS tracking, have enhanced the ability of emergency services to respond quickly and effectively to medical emergencies. These factors drive the growth of the segment.

Based on equipment type, the ambulance industry is segregated into basic life support ambulance service, and advanced life support ambulance.

Based on mode of transport, the market is segmented into ground, water, and air. The ground ambulance segment held the dominating market share in 2022 and is further projected to cite the fastest CAGR during the forecast period. The ground ambulance segment is a mode of transport in the Ambulance Services Market, which includes vehicles that travel on roads and highways to transport sick or injured individuals to medical facilities. Ground ambulances are the most common type of ambulance used in the market, providing a range of services from basic life support to advanced life support. The ground ambulance segment is a critical component of the overall Ambulance Services Market, as it provides timely and efficient transportation of patients to medical facilities, particularly in areas where air transportation is not practical or available. In addition, ground ambulances are equipped with a range of medical equipment and supplies, including oxygen tanks, defibrillators, and medications, and staffed by trained medical professionals, such as paramedics or emergency medical technicians (EMTs). These factors drive the growth of the segment during the forecast period.

Recent Developments

• In 2021, American Medical Response (AMR), one of the largest ambulance service providers in the U.S., announced the acquisition of LifeLine Ambulance, a private ambulance service provider based in Connecticut. The acquisition expands AMR's footprint in the Northeastern U.S. In addition, many ambulance service providers have formed partnerships with hospitals and healthcare organizations to improve patient care and outcomes.
• In August 2021, Falck, a dominant company that provides sustainable healthcare and reliable emergency response services announced that it had signed a five-year contract with the Welsh Ambulance Service, a national ambulance service for Wales, to provide emergency ambulance services in the South East Wales region. The contract is valued at approximately £35 million and will provide emergency medical services to over 1.4 million residents.

Ambulance Services Market : Report Scope

Global Ambulance Services Market: Regional Analysis

North America to hold maximum market share during the forecast period

North America held the majority share of the market in the year 2022, owing to the factors such as growing demand for advanced healthcare facilities & infrastructure, favorable pricing & reimbursement laws, and regulations in the healthcare sector. Asia Pacific is predicted to see the highest growth rate over the projected period. Some of the factors that are likely to drive the growth of the Asia Pacific market are the immense untapped market potential, developments in healthcare facilities, and an increase in the number of road accidents. Furthermore, road traffic accidents require emergency medical services, which is likely to drive the growth of the Asia Pacific sector.

Global Ambulance Services Market: Competitive Players

Some of the key players in the global Ambulance Services Market are:

• Babcock Scandinavian AirAmbulance
• Acadian Ambulance Service
• AMR
• Medline Industries Inc.
• Falck USA
• Lifeguard Ambulance
• Medivic Ambulance
• Medstar Ambulance
• Life Line Ambulance
• Priority Ambulance
• Dutch Health BV
• GVS
• Mobile Health Services
• AmeriCare Medical
• America Ambulance Services
• BVG India Limited
• Falck Denmark
• Air Methods
• Harmonie Ambulance
• Ziqitza Health Care
• Aeromedevac
• SHM Shipcare

Global Ambulance Services Market is segmented as follows:

By Type

• Emergency
• Non-Emergency

By Mode Of Transport

• Ground
• Water
• Air

By Equipment Type

• Basic Life Support Ambulance Service
• Advanced Life Support Ambulance

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa