ALBANY, N.Y. -- The global ambulance services market is set to grow at a CAGR of 8.3% between 2013 and 2019. The market will be valued at $29.784 million in 2019 if it stays on the projected growth rate.
All statistics have been cited from a research report by Transparency Market Research titled “Ambulance Services Market (By Mode of Transport - Ground Ambulance Services, Air Ambulance Services and Water Ambulance Services, By Emergency Type - Emergency Ambulance Services and Non-Emergency Ambulance Services and By Equipment Type - Advance Life Support (ALS) Ambulance Services and Basic Life Support (BLS) Ambulance Services) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019.”
A daily newspaper in the U.S. reported that nearly 17.3 million emergency patient transportations happened in the year 2012, on the global scale. The research report features the growing need of emergency transport as the prime growth driver for the global ambulance services market.
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Other key drivers elaborated by the report are situations that promote favorable reimbursements, establishment of new service providers on the global level, and increasing facilities for home healthcare.
The key restraining factor listed against the ambulance services market is a strict regulation for air ambulances, set by the Federal Aviation Administration (FAA). It may hamper the overall growth of the services.
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The report provides a segmented analysis of the ambulance services market, primarily according to the three modes of transport of ground, air, and water ambulance services. The second category that the report utilizes for analysis is whether a call is an emergency call or a non-emergency call. Based on those classifications, the report further describes sub-divisions in the market into Advanced Life support (ALS) and Basic Life Support (BLS) ambulance services.
Ease of manufacturing and improvement of material quality allows the air ambulance services market to display the highest CAGR of all the categories. Other factors cited by the report include an increase in medical tourism to the countries of Thailand, Brazil, and India, along with a substantial influx of new companies in the services.
The report also stated that the emergency ambulance services market held the largest revenue share in 2012, and is supposed to grow at the highest CAGR from 2013 to 2019. The ALS ambulances are also predicted to grow at a high CAGR, according to the report. It states that an increasing number of emergency callers are providing the impetus required for this market sector to grow.
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The report also creates a geographical categorization of the ambulance services market, into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest market revenue share in 2012.
Key players that are elaborated on by the report include Rural/Metro Corporation, Envision Healthcare Corporation, Air Methods Corporation, Dutch Health BV, Acadian Ambulance Service, Inc., and Falck A/S.
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