U.S. Healthcare Transportation Services Market Size, Share, and Market Challenges 2028

U.S. Healthcare Transportation Services Market Size And Forecast

The U.S. Healthcare Transportation Services Market size was worth around USD 15,295.6 Million in 2021 and is estimated to grow to about USD 24,137.6 Million by 2028, with a compound annual growth rate (CAGR) of approximately 7.9 percent over the forecast period. The report analyzes the U.S. Healthcare Transportation Services Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the U.S. Healthcare Transportation Services Market.

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U.S. Healthcare Transportation Services Market Overview

Transportation is inextricably linked to the economic and social factor that favors mobility of people. The healthcare research team has opined that 20% of health can be attributed to medical care, while access to transportation, educational attainment, housing status, and healthy food accounted for 40%. Transportation barriers can be interrelated with social determinants of health, such as social isolation, poverty, racial discrimination, and access to education. It might result in increased health expenditures, overall poorer health outcomes, and delayed or missed healthcare appointments. The development of appropriate and affordable transportation options, bike lanes, walkable communities, and other healthy transit options can help improve health conditions.

Transportation Services in the healthcare industry help to assure the safe and timely transfer of patients, medications, medical equipment, and test specimens from one site to another. As a result, the healthcare sector's efficiency improves. Healthcare transportation is a new concept that can save both patients and healthcare practitioners a significant amount of time. The growing need for speedy mobility and an improving healthcare system are the primary drivers driving the market's growth.

The rising cases of SARS-CoV-2 infection, increasing pharmaceutical R&D activities, and novel medication pipelines are among the key drivers driving global pharma & healthcare company growth in recent years. Growing adoption of telehealth and telemedicine services, increased government funding for vaccine development, and the rising need for improved point-of-care diagnostics and home healthcare devices have all helped the industry's growth. Due to the expanding rates of infectious diseases, the global focus on healthcare is projected to serve additional growth prospects in the next years.

Covid-19 Impact

The pandemic has thrown the Healthcare Transportation Services business on its head, causing an unprecedented increase in demand and a severe supply shortfall. The current global economic landscape as well as the significant status of the healthcare business has been severely affected. A significant increase in demand for healthcare services globally, rising cases of SARS-CoV-2 infection, increased pharmaceutical R&D activity on the new outbreak, and new drug pipelines are among the primary reasons driving the global pharma & healthcare business growth in the pandemic years. Growing acceptance of telehealth and telemedicine services, an increase in government programs for COVID-19 vaccine development, and rising demand for improved point-of-care diagnostics and home healthcare devices have all contributed to the industry's expansion.

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U.S. Healthcare Transportation Services Market: Drivers

Improving healthcare systems and expanding healthcare facilities are some of the factors driving this segment's market growth. Additionally, healthcare providers are providing healthcare transportation services to patients who require non-emergency healthcare transportation to obtain various healthcare services, which is driving the growth of the U.S. Healthcare Transportation market. Growing demand for speedy transportation of samples and specimens for testing, as well as a greater emphasis on lowering logistical costs, are some of the factors driving market expansion. Furthermore, increased ride-sharing for healthcare transportation is helping to drive the expansion of the U.S. Healthcare Transportation Market.

The transportation system is considered an integral part of the entire healthcare market. Based on the instructions established by main healthcare bodies, the transport service providers have to comply with regulations like having sufficient field and clinical experience to deal with different types of health conditions. The rising geriatric population prone to cardiovascular diseases is one of the major driving forces of the U.S. healthcare transportation services market. Medical transportation has catered to a large number of patients in the past few years due to the aforementioned reason. Moreover, accelerating medical tourism, favorable reimbursement policies, and advancement in technology are some other factors fuelling the demand for healthcare transportation services in the U.S. However, the dearth of skilled healthcare professionals and expensive emergency care services can hamper the growth of the U.S. healthcare transportation services market.

U.S. Healthcare Transportation Services Market: Restraint

The lack of investment and high maintenance costs of transportation vehicles are impeding the growth of this sector. Additionally, a lack of investment from domestic companies is limiting its market expansion during the predicted period. A significant amount of money must be spent in order to provide and improve healthcare transportation services. When even local players are afraid to invest in this area, underdeveloped economies are unable to do so. As a result, the rate of market expansion will be slowed. Furthermore, offering high-quality healthcare transportation services is a commercial problem. The limited reach of key players has a negative impact on the rate of growth.

U.S. Healthcare Transportation Services Market: Segmentation

The U.S. Healthcare Transportation Services Market is segregated based on type, and end-use.

By Type, the market is classified into Medical Transportation, Incubator Transport, Mobile Treatment Facilities, Patient Transport, and Non-Medical Transportation. The medical transportation market is expected to be the fastest-growing segment, during the forecast period. Medical transportation services are required for those who are in a critical or life-threatening scenario. Medical transportation services are essential for adverse Medicaid recipients, such as the elderly, disabled, and financially disadvantaged persons who are unable to get healthcare transportation services, which contributes to the growth of this industry.

By End-Use, the market is classified into Hospitals, Medical Centers, Nursing Care Facilities, and Airport Shuttle. In the forecast period, hospitals were the major end-user, accounting for almost the largest share of worldwide healthcare transportation services revenue, and are expected to rise over the projection period. This area is expected to maintain its dominance in the coming years, owing to an increase in the number of hospitals, particularly in developed countries, as well as a greater need for cost reductions and increased reach.

Global U.S. Healthcare Transportation Services Market Report Scope:

Global U.S. Healthcare Transportation Services Market: Regional Landscape

The market for healthcare transportation services is dominated by North America. This is owing to an increasing population in need of medical assistance, as well as the availability of high-quality healthcare provisions. The existence of cutting-edge technology also helps to provide the best healthcare transportation services to the residents of this region. The top players in the US healthcare transportation services market are expected to keep their competitive advantage in the industry by increasing their product offerings and investing in mergers and acquisitions.

Due to the increase in government spending on healthcare facilities, Asia Pacific is predicted to be the fastest expanding market. This is a critical component fueling the region's demand for innovative healthcare transportation services. The growing government spending on healthcare transportation services, particularly in underdeveloped countries. This is an important factor in driving the region's desire for innovative healthcare transportation services.

Global U.S. Healthcare Transportation Services Market: Competitive Landscape

Some of the main competitors dominating the U.S. Healthcare Transportation Services Market include -

• Logisticare Solutions LLC
• ProHealth Care Inc.
• Mercy Health Medical Transportation LLC
• Molina Healthcare, Inc.
• Express Medical Transporters, Inc.
• Aramark Healthcare Technologies LLC
• Crothall Healthcare Inc.
• MTM, Inc.
• Acadian Ambulance Service Inc.
• and Mobile Care Group Inc.

U.S. Healthcare Transportation Services Market is segmented as follows:

By Type

• Medical Transportation
• Incubator Transport
• Mobile Treatment Facilities
• Patient Transport
• Non-Medical Transportation

By End-Use

• Hospitals
• Medical Centers
• Nursing Care Facilities
• Airport Shuttle

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