Ambulance Services Market Outlook 2021-2026 | Acadian Ambulance Service, BVG India Limited

The global ambulance services market is estimated to foresee momentous growth through the forthcoming time period owing to an upsurge in road accidents. Additionally, the growing prevalence of chronic diseases and increasing medical tourism trend is further slated to augment the overall market size through 2026.

Additionally, the introduction of new ambulance models and launch of new technologies that focus on the enhancement of ambulatory care is likely to proliferate the ambulance services industry share through the forecast timespan. Citing an instance, in May 2019, a leading developer and marketer of advanced safety systems, IMMI, reportedly introduced its unique 4 point restraint, known as Per4Max, that is specifically designed for ambulances. This new technology enables medical technicians to treat patients more efficiently without restricting their mobility. The restraint ensures safety of the medical technician in case of an accident.

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In terms of transportation, the market is characterized by the air ambulance, water ambulance, and ground ambulance. Among these, in 2019, the ground ambulance segment covered a tremendous industry value of over $16 billion. The segment is anticipated to undergo a highly remunerative growth trend owing to the higher demand for ground ambulances across the globe. Ground ambulance services are considered more accessible, cost-effective, and better available than other services like air and water, which is stimulating their growth in the market.

With reference to end-use, the market is bifurcated into hospitals, nursing homes, home healthcare settings, and others. The hospitals end-use segment is projected to expand at a CAGR of about 0.5% through the analysis period. This projected segment growth is ascribed to the fact that a significant number of ambulances are needed in hospitals to ensure that they are capable of facilitating optimal emergency services without any compromises. Additionally, the increasing number of surgeries being performed across the hospitals would also compliment segment growth.

With respect to services, the market is categorized into emergency medical services and non-emergency medical services. Of these, in 2019, the non-emergency medical services held a crucial industry share of 37% with estimations anticipating it to undergo considerable growth over the forthcoming years. These services offer medically needed pre-scheduled inter-facility services. Non-emergency services comprise moving patients who cannot travel with normal vehicles due to some disability to other hospitals. Likewise, moving patients from laboratory facilities to designated or allotted facilities, and shifting patients from a hospital to a care facility are also some of the services offered by the non-emergency services.

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Key companies in the ambulance services industry are adopting several strategies to capitalize on the growing industry scope. Investment rounds, acquisitions, and partnerships are a few of the techniques used by these companies to expand their footprint. Citing an instance, in February 2019, Acadian Ambulance Service completed the acquisition of Memphis based EMHC (Emergency Mobile Health Care). The company has further enhances its ambulatory care through this acquisition.

The competitive landscape of the ambulance services market is inclusive of players such as Harmonie Ambulance, Ziqitza Health Care, Air Methods, Falck Danmark, America Ambulance Services, BVG India Limited, Acadian Ambulance Service among others.

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