Medical Transport Service Market Size, Share, Value and Forecast 2032

Medical Transport Service Market Insights

According to Zion Market Research, the global Medical Transport Service Market was worth USD 46.96 Billion in 2023. The market is forecast to reach USD 111.46 Billion by 2032, growing at a compound annual growth rate (CAGR) of 10.08% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Medical Transport Service Market industry over the next decade.

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Medical Transport Service Market: Overview

The major factor driving the expansion of the Medical Transport Services market is that the rising healthcare complications requiring medical attention. Globally the amount of emergency hospital administration is on the increase. At an equivalent time, ambulances and therefore the vehicles that are used for the transportation of the patients and other medical goods needs regular servicing and quality check by the transport regulatory bodies of the respective regions.

Such a process involving routine checkups of the vehicles requires time hence to continue the services there should be additional vehicles or other substitute vehicles. Also, the upkeep cost incurred on vehicles and therefore the air ambulance is relatively high. Hence these factors are likely to limit the expansion of the market over the forecast period. Moreover advancing healthcare transport facilities is probably going to spice up the marketplace for Medical transport services over the forecast period.

However, in response to the COVID-19 disaster, market players devised several business strategies, such as strategic agreements, technological advances, and partnerships to survive in their business. For example, in June 2020, Mahindra announced the launch of a BS-6 Supro ambulance equipped with a foldable cum trolley, medical supplies, air-conditioning system, advertising system, and indoor lighting. In addition, the growing popularity of air ambulance services, as well as a large number of private insurance patients are also expected to improve this market in the coming years.

Medical Transport Service Market: Growth Factors

The demand for ambulance services is on an increase due to the favorable reimbursement policies, an increasing number of road accidents, rising medical tourism, and a growing geriatric population. Road accidents are rapidly increasing and such cases require immediate medical attention and ambulance services. Also, there has been an unceasing rise in life expectancy and more attention to quality. Consumers are progressively becoming more aware of their health and have started paying more attention to their quality lifestyles, hygiene and healthy diets, which has rushed the demand for Medical Transport Service across the globe. 

Medical Transport Service Market: Segment Analysis Preview

Hospitals account for the very best market share of the worldwide medical transport services market by end-user segment. The worldwide market share of hospitals in 2017 was 45% and is probably going to succeed in the USD 43.2 billion by end of 2022. As most of the patients requiring emergency medical services are taken to hospitals due to better and advanced healthcare facilities as compared to clinics and ambulatory surgical centers, Hospitals contribute the utmost market share.

The Medical Transport Services market includes the transport services of patients as well as medical products. Global Medical Transport Services market belongs to the parent market “Transport services market”. The medical transport services include patient transport, Incubator transport, mobile treatment facilities, and medical products transport. within recent years, medical transport service has achieved a growing appreciation and is a crucial part of any medical health care program.

Medical product transport involves the transportation of the medical products from the manufacturer to the user. The segment is dominating and is estimated to grow at a healthy CAGR from 2023 till 2032. Patient transport is another lucrative segment that is growing at a better CAGR of 4% over the forecast period. The major growth factor for the growth of patient transport services is the rising number of patients requiring emergency as well as non-emergency transportation across the globe. 

Medical Transport Service Market: Report Scope

Medical Transport Service Market: Regional Analysis Preview

North America was the dominating area for the Medical Transport Service Market in 2020 in terms of income creation. North America was chased by Europe on the back of the availability of enhanced infrastructure and technology. North America adds up to almost 40% of the entire market share for the global Medical Transport Service Market. In addition to this, the Medical Transport Service Market has a huge chance in up-and-coming areas such as Latin America and the Asia Pacific owing to the government & public awareness, government initiatives, increasing aging population, and healthcare infrastructure.

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Medical Transport Service Market: Players & Competitive Landscape

The list of the players that are compiled in the report

• ARAMARK Healthcare
• ATS Healthcare Solution
• Crothall Healthcare

The global Medical Transport Service market is segmented as follows:  

By Type

• Medical Products Transport
  • Pharmaceutical Products
  • OTC Products
• Incubator Transport
• Mobile Treatment Facilities 
• Patient Transport
  • Ambulance 
  • Helicopter  

By End User

• Hospitals 
• Private Paying Customers 
• Nursing Care Facilities 
• Medical Centers

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