Global Ambulance Services Market Report 2021: Market is Expected to Reach $67.7 Billion by 2028 - Market Growth is Due to Favorable Reimbursement Policies in Developed Nations
DUBLIN, April 19, 2021 /PRNewswire/ -- The "Ambulance Services Market Size, Share & Trends Analysis Report by Transport Vehicle (Ground, Water, Air), by Emergency Services (Emergency, Non-emergency), by Equipment, by Region, and Segment Forecasts, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
The global ambulance services market size is expected to reach USD 67.7 billion by 2028 and expected to expand at a CAGR of 9.6% from 2021 to 2028.
Rising medical tourism and an increasing number of road accidents and CVD cases are the key driving factors for the market.
The growth of the market is due to favorable reimbursement policies in developed nations. In the U.S., Medicare covers both non-emergency and emergency ambulance services for medically necessary cases, if the supplier fulfills stipulated requirements. In some circumstances, Medicare also covers unscheduled and irregular non-emergency trips.
Medicare covers 80.0% of the approved amount for emergency medical services and the remaining 20.0% is covered by the supplemental insurance policy of the patient. In New Jersey, Pennsylvania, and South Carolina, for repetitive, non-emergency trips, patients need prior authorization from Medicare Administrative Contractor (MAC). However, Medicare does not pay for ambulates (wheelchair-accessible vans that provide non-emergency transportation services).
In Victoria, Australia, patients can avail of emergency medical services by securing membership with Ambulance Victoria, which offers emergency medical services at subsidized prices. Ambulance Tasmania provides free emergency medical services to residents of Tasmania. Residents of Queensland (Australia) are covered with the cost of emergency services across Australia, by the QLD state government. Similarly, in the U.K., the public healthcare system provides free emergency and non-emergency medical services.
In addition, patients receive NHS funding for their treatment. In Germany, public health insurance (Gesetzliche Krankenversicherung) is compulsory for every citizen and this insurance also covers non-emergency and emergency medical services. Private health insurance (Private Krankenversicherung) is usually opted by those who have high yearly income. Ease of payment through reimbursement policies encourages patients to opt for emergency medical services more frequently, which is likely to bolster the growth of the market.
Ambulance Services Market Report Highlights
- In terms of revenue, the ground ambulance segment held the largest share in 2020. The rising number of road accidents and increasing COVID-19 cases across the globe are major factors propelling segment growth.
- The emergency services segment held the largest market share in 2020 and is expected to grow fast over the forecast period due to the increasing number of CVDs.
- The Advanced Life Support (ALS) ambulance services segment held the largest market share in 2020. The growth of the segment is majorly driven by the increasing medical tourism across the globe.
- In Asia Pacific, the market is expected to witness the fastest growth rate over the forecast period owing to the rising number of COVID-19 cases in the region.
Key Topics Covered:
Chapter 1 Research Methodology
Chapter 2 Executive Summary
Chapter 3 Industry Outlook
3.1 Market Segmentation
3.2 Market Variable Analysis
3.2.1 Market driver analysis
3.2.1.1 Favorable reimbursement policies
3.2.1.2 Entrance of new ambulance service providers globally
3.2.1.3 Rising medical tourism
3.2.1.4 Increasing number of road accidents
3.2.1.5 Rising CVD
3.2.1.6 Increasing geratric population
3.2.2 Market restraint analysis
3.2.2.1 High cost of air ambulances
3.2.2.2 Stringent regulations by the Federal Aviation Administration (FAA)
3.3 Penetration & Growth Prospect Mapping
3.4 Business Environment Analysis tools
3.4.1 SWOT Analysis, by PEST
3.4.2 Porter's five forces analysis
Chapter 4 Transport Vehicle Segment Analysis
4.1 Ambulance Services Market: Transport Vehicle Movement Analysis
4.2 Ground Ambulance
4.3 Air Ambulance
4.4 Water Ambulance
Chapter 5 Emergency Services Segment Analysis
5.1 Ambulance Services Market: Emergency Services Movement Analysis
5.2 Emergency Services
5.3 Non-emergency Services
Chapter 6 Equipment Segment Analysis
6.1 Ambulance Services Market: Equipment Movement Analysis
6.2 Advanced Life Support (ALS) Ambulance Services
6.3 Basic Life Support (BLS) Ambulance Services
Chapter 7 Regional Outlook
7.1 Ambulance Services Market Share by Region, 2020 & 2028
Chapter 8 Company Profiles
8.1 Company overview
8.2 Financial performance
8.3 Product benchmarking
8.4 Strategic initiatives
8.5 SWOT analysis
- Envision Healthcare
- London Ambulance Service Nhs Trust
- Acadian Ambulance Service
- Bvg India Limited
- America Ambulance Services, Inc.
- Falck Denmark A/S
- Air Medical Group Holdings, Inc. (Amgh)
- Air Methods Corporation
- Ziqitza Healthcare Limited
- Medivic Aviation
For more information about this report visit https://www.researchandmarkets.com/r/n1j05y
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