The global Ambulance Services Market size is expected to reach USD 82.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.8% from 2022 to 2030. Rising cases of chronic disorders such as cardiovascular disorders, an increase in the global geriatric population, and rising cases of traumatic accidents are expected to be 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 emergency and non-emergency ambulance services for medically necessary cases, given that the supplier fulfills stipulated requirements. In some cases, Medicare also covers irregular and unscheduled non-emergency trips. Medicare covers around 80.0% of the amount for emergency services while the remaining 20.0% is covered by the insurance policy of the patient.

Moreover, there has been a constant increase in the number of traumatic accidents globally. For instance, as per Association for Safe International Road Travel, around 1.35 million people die due to road accidents, whereas 20-25 million people suffer injuries leading to permanent disability. Thus, with the rising number of road accidents, the demand for air ambulances is expected to increase, thereby impelling the market.

Furthermore, the market witnessed a tremendous spike during the COVID-19 pandemic. For instance, as per Maharashtra Emergency Medical Service (MEMS), during the second wave of COVID-19, there was a 33% spike from 2020 and an 18% increase from the pre-pandemic period. Additionally, with a decline in COVID-19 cases, the demand for ambulance services might affect negatively during the year 2022-2023. However, the market is expected to grow at a significant pace post-2023. This can be attributed to the increasing number of ambulances globally. For instance, as per The Hindu, in May 2021, the Greater Chennai Corporation launched 250 COVID-19 special ambulances for 15 zones of the city.

Related Press Release@ Ambulance Services Market Report

Ambulance Services Market Report Highlights

• On the basis of transport vehicles, the ground ambulance segment dominated the market and accounted for a revenue share of 48.7% in 2021. This can be attributed to rising accident cases globally
• Based on emergency services, the emergency services segment is projected to witness the fastest CAGR of 10.1% during the forecast duration
• On the basis of equipment, the advanced life support ambulance segment is expected to dominate the market in 2021 and is also projected to witness the fastest growth over the forecast period
• North America is expected to dominate the market in 2021, whereas, Asia Pacific is anticipated to witness a CAGR of 12.4% over the forecast period, owing to the rise in chronic disorders and geriatric population in this region