Market Trends of Ambulance Services Industry
The Air Ambulance Segment is Expected to Register a Significant Share Over The Forecast Period
Air ambulances are ambulance services that are vital for transportation in case of medical emergencies. Air ambulances are armed with medical equipment and medical staff that offer medical care in flight, while non-medically equipped and staffed aircraft assist in transporting patients and organs. These services provide various benefits, such as convenience, flexibility, and safety.
The increasing burden of chronic diseases like cardiac arrests and other emergencies is boosting segment growth. For instance, an article published in BMJ in August 2021 stated that the incidence of out-of-hospital cardiac arrest (OHCA) ranges from 28.3 per 100,000 in Asia to 54.6 per 100,000 population in North America. Since, air ambulance provides the fastest service, the high incidence of cardiac arrests is projected to boost the segment growth.
The rising demand for air ambulances creates the need to formulate policies for the smooth and safe deployment of such services globally. For instance, in September 2021, the Department of Health and Human Services (HHS), the Department of Labor (DOL), and the Department of the Treasury (Treasury), along with the Office of Personnel Management (OPM), released a notice of proposed rulemaking (NPRM), regarding air ambulance services. Such regulations are estimated to boost the segment's growth during the forecast period.
Furthermore, governments worldwide are engaged in launching air ambulance services, thereby boosting the segment's growth. For instance, In December 2021, the Chief Minister of Odisha (India) launched the air ambulance Service (Mukhyamantri Vayu Swasthya Seva) in Bhubaneswar in order to provide health services to residents of rural and underdeveloped areas of the State. Such strategic initiatives adopted by government is estimated to boost the demand for air ambulances, thereby propelling the segment's growth during forecast period.
North America is Expected to Hold a Significant Market Share Over The Forecast Period
North America holds a significant market share owing to the rising emergency cases in the region, the high prevalence of chronic diseases, the presence of several key market players in this region, the growing demand for quality healthcare services, and the well-established healthcare infrastructure.
As per the IDF report, the number of adults (20-79 years) with diabetes was 32.2 million in 2021 and it is predicted to reach 36.3 million by 2045 in the United States. America is predicted to be in 4th position among the top 10 countries or territories with diabetes in 2021 and 2045. As per the same report, the number of adults with diabetes in Mexico was 14.1 million in 2021 and is predicted to reach 21.2 million by 2045. The high prevalence of diabetes in the region is estimated to create a high opportunity for ambulance services chronic diabetes patients many times face Hypoglycaemia which is a serious condition and require emergency ambulance services, thereby boosting the market growth in the region.
Additionally, as per NIH, the emergency care spending in the United States was USD 164 million in 2021, and is estimated to be USD 173 million in 2022 and USD 175 million in 2023. The emergency care services also include ambulances services. Hence, the high spending of the nation on emergency care is estimated to boost the market growth during the forecast period.
Moreover, the strategic initiatives like launches, technological advancements, partnerships by key market players in the region is projected to boost the market growth. For instance,
According to the AHA's facts on US Hospitals, 2022 report, the number of active hospitals in the United States increased to 6093 in 2022, a growth of 10% compared to the past few years. A growing number of hospitals providing proper air ambulance facilities, and improving medical facilities across various regions of the country is projected to boost the market growth during the forecast period.
