ALBANY, New York, Feb. 24, 2020 /PRNewswire/ -- A myriad of drivers propel the growth of global Ambulance Services Market states a recent report by Transparency Market Research. However, the most prominent driver as per the report is growth in the number of road accidents that are caused due to factors such as a reckless driving, carelessness, and driving under influence. Looking at the growth in these accidents, the report states that the global ambulance services market shall witness steady 4% CAGR during the tenure of 2019 to 2027. At this rate, the market shall reach a valuation ~US$ 56 Bn by the end of 2027.
"Improving healthcare infrastructure and race to provide better experience to the patients, are the major drivers of the global ambulance services market. These developments lead to the implementation of new equipment and tools in the ambulance which might come handy while saving patient's life. These developments shall propel the growth of global ambulance services market during the forecast period of 2019 to 2027." –Transparency Market Research.
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Key Findings in the Global Ambulance Services Market Study
To provide an in-depth analysis of the global ambulance services market to the readers, the report categorizes the market into various categories. These categories are further divided into various segments which further provides a better understanding of the dynamics of the global ambulance services market during the tenure of 2019 to 2027. Some of the key segments from the ambulance services study are mentioned below:
- The ground ambulance segments under mode of transport category is expected to hold the largest share in the global ambulance services market. The segment is expected to account for US$ 42.5 Bn by the end of 2027. This dominance of the segment is the result of growing demand for road ambulance as the number of road accidents have increased substantially in past few years.
- Due to hectic work-life and non-consciousness towards the health, the risk of cardiac arrest and cardiac failure has increased exponentially in recent times. It is because of this growth in cardiac-related emergencies, the emergency services under service category shall dominate the global ambulance services market during the tenure of 2019 to 2027.
Explore the actionable insights from the report on global ambulance services market available under the title: Ambulance Services Market (Mode of Transport: Ground Ambulances, Air Ambulances, Water Ambulances; Equipment: Basic Life Support (BLS), Advanced Life Support (ALS); Service: Emergency, Non-emergency) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027 at https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=2347
Major Drivers Driving the Growth of Global Ambulance Services Market
The report's focus on the drivers that propels the growth of global ambulance services market helps the readers to analyze the momentum of the market. With these insights the readers can understand the pace of the market and can also make better decision on how and where to invest for an optimal future in global ambulance services market. Some of the key drivers of global ambulance services market are:
- Improving emergency medical services sector is the major reason behind the growth of global ambulance services market. The first few minutes for the patients suffering from an accident or cardiac arrest are extremely critical. It is in these initial moments, the life and the death of the patient depends. With more ambulances, the hospitals and trauma centers can save more lives than before. This growing demand for better ambulances to save patient's life is the major factor that is propelling the growth of global ambulance services market.
- Providing patient centric emergency medical care has become prime focus for the hospitals across the globe. To achieve this goal, the ambulance service providers are updating their ambulances with new and innovative lifesaving tools. With the incorporation of these tools and technologies, the emergency services can reach swiftly and effectively to the patient. This is also a crucial factor that is projected to fuel the growth of global ambulance services market during the tenure of 2019 to 2027.
Key Challenges Mentioned in the Global Ambulance Services Market Study
Apart from the drivers and trends that are boosting the growth of global ambulance services market, the report by Transparency Market Research also focuses on the challenges and roadblocks that might impede the growth of global ambulance services market. With the insights from the report, the businesses can derive effective strategies that can help them overcome the challenges and further help them avail a sustainable future in the global ambulance services market.
- The major challenge that hampers the growth of the market is the frequent change of regulations by organizations such as the Federal Aviation Administration or FAA. These constant changes restrict the manufacturer to have a standard vehicle as an ambulance.
- Since FAA is associated with aerial ambulances, it regulates the presence of more medical and technical professionals and equipment on-board aerial ambulance. However, this makes the ambulance heavy and less effective. This factor might impede the growth of global ambulances services market considerably between 2019 and 2027.
Though there are several challenges that are impeding the growth of the market, the manufacturers are constantly brainstorming and deriving strategies that might help them overcome these challenges. Once in effect, these strategies can help the global ambulance to maintain its growth momentum during the tenure of 2019 to 2027.
Analyze ambulance services market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
Global Ambulance Services Market: Regional Analysis
North America is projected to continue its dominance over the regional front of global ambulance services market. The dominance of the region is attributed to growing demand for ground and aerial ambulances due to growing number of accidents in the U.S. Moreover, the race to provide effective emergency treatment to the patient is also a major factor that is fueling the dominance of North America is global ambulance services market.
Asia Pacific on the other hand is anticipated to emerge as the fastest growing region in the global ambulance services market. This pacing development is the result of developing healthcare industry China and India. Moreover, emergence of various favorable reimbursement policies, the region shall attract new businesses in ambulance services market during 2019 to 2027.
The global ambulance services market is highly competitive and moderately fragmented. This is because, the dynamics of the market are dominated by presence of few prominent players. However, this presence is making the entry of new players into the global ambulance services market.
To surpass this challenge, the new players are merging and partnering with various businesses of global ambulance services market. These strategies shall help the players to accommodate essential resources that can help them gain sustainability in the global ambulance services market between 2019 and 2027.
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The global ambulance services market is segmented on the basis of:
Ambulance Services Market by Mode of Transport
- Ground Ambulances
- Air Ambulances
- Water Ambulances
Ambulance Services Market by Equipment
- Basic Life Support (BLS)
- Advanced Life Support (ALS)
Ambulance Services Market by Service
Ambulance Services Market by Region
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific (APAC)
- Australia & New Zealand
- Rest of APAC
- Middle East & Africa (MEA)
- GCC Countries
- North Africa
- South Africa
- Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:
Emergency Medical Services Products Market - With the technological evolution, most of the healthcare experts have been considering to emergency medical services as increasingly coordinated, fast, and mobile response branch of the healthcare system, as opposed to a different emergency reaction. As per the majority of the patients accepting EMS, it is seeing a fast incorporation into the general medical framework, showing that "mobile-based healthcare" is a superior term portraying the profession when contrasted with "emergency medical services".
Medical Sensors Market - Medical sensors are used to make medical devices more effective and simpler in operation. Recent technological advancements in medical sensors enhance the use of smart sensors for various diseases and conditions. Some of these include smart watch for heart rate and sleep apnea, diabetic care devices, orthopedic care devices, and surgery-specific sensory devices. The global medical sensors market was valued at US$ 11,943.1 Mn in 2017.
Health & Wellness Services Market - Increase in indirect health care costs associated with lack of productivity of employees, absenteeism, loss of work days, and other factors have led employers in various organization across the world to indulge in health & wellness service offerings at their workplace. This helps them reduce healthcare costs and increase productivity and efficiency of employees.
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