Albany, NY, May 28, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Ambulance Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019" in the year 2012, the global Ambulance Services market was valued at USD 17.00 billion and is expected to grow at a CAGR of 8.3% during the forecast period 2013 to 2019 to reach a market value of USD 29.78 billion by 2019.
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Ambulance is utilized for the transport of patients to and from hospitals for their medical treatment. The services that are provided include monitoring via various medical equipment and basic treatments by emergency medical technician (EMT). Ambulance services are extensively utilized at war fronts to rescue injured patients. The global market for Ambulance Services has been estimated to grow at the rate of 8.3% during the forecast period from 2013 to 2019. The growth of ambulance services market is primarily attributed to consistent rise in geriatric population since elderly people are more susceptible to various diseases that generate frequent need for their visit to hospitals for medical checkups and treatment. Favorable reimbursement scenario for availing ambulance services is further expected to augment the growth of this market. Likewise, increasing incidences of accidents across the globe is also anticipated to propel the demand for ambulance services.
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The report on ambulance services describes several modes of transport that are utilized for patient transportation, amongst which ground ambulance services market accounted for the largest share (over 75%) by revenue of the total market. The growth of this market is also expected to exhibit impressive growth rate of 8.3% during the forecast period. Ground ambulance services are the most widely utilized mode of patient transport that results in high revenue generation. Also, majority of the ambulance service providers are engaged in providing ground ambulance services which further enhances the revenue share. Air ambulance services is the second largest segment that utilizes services due to increase in medical tourism in developing nations such as Thailand and India.
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Emergency ambulance services market accounted for the largest share by revenue in 2012 and is estimated to grow at the highest CAGR during the study period. This growth is attributed to improving reimbursement policies for emergency ambulance services coupled with increasing number of emergency medical hospitalizations. Similarly, based on the equipment type market for ALS ambulance services accounted for the largest share in terms of revenue in 2012 and is estimated to grow at the highest CAGR of 8.5% throughout the forecast period from 2013 to 2019. High level medical equipment such as incubators and cardiac monitoring system are installed in ALS ambulance that facilitates better medical assistance while transporting patient. This results in escalated demand for ALS ambulance services in emergency cases and in turn supports the growth of this market.
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Geographically, North America accounted for the largest share in terms of revenue of the total market for ambulance services in 2012. This dominance is majorly witnessed due to the presence of large number of elderly people. Presence of large number of major players of the market in this region which facilitates easy penetration also contributed in recording the largest share of the market. Owing to rise in disposable income coupled with increasing healthcare expenditure, Asia-Pacific region has been estimated to foresee the highest growth during the forecast period. The global ambulance services market is dominated by Envision Healthcare Corporation, Falck A/S, Rural/Metro Corporation, Air Methods Corporation and Acadian Ambulance Service.
The global ambulance services market has been segmented as below:
Ambulance Services Market, by Mode of Transport
- Ground Ambulance Service
- Air Ambulance Service
- Water Ambulance Service
Ambulance Services Market, by Equipment
- Advance Life Support (ALS)
- Basic Life Support (BLS)
Ambulance Services Market, by Emergency Type
Ambulance Services Market, by Geography
- North America
- Rest of the World (RoW)
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research