Emergency Ambulance Vehicles Market to Reach $103.9 Billion, Globally, by 2033 at 9.3% CAGR: Allied Market Research

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Aug 15, 2024, 01:00 ET

PORTLAND, Ore., Aug. 15, 2024 /PRNewswire/ -- The global emergency ambulance market is experiencing growth due to several factors such as improved road infrastructure, technological advancement, rise in road accidents, and advancement in healthcare technology.

Allied Market Research published a report, titled, "Emergency Ambulance Vehicles Market by Vehicle Type (Ambulance Van, Ambulance Bus, and Ambulance Car), Ambulance Emergency Type (Emergency Medical Services (EMS), and Hospital Based Emergency Ambulance) and End User (Private Enterprises, Government Services, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the emergency ambulance vehicles market was valued at $43.8 billion in 2023, and is estimated to reach $103.9 billion by 2033, growing at a CAGR of 9.3% from 2024 to 2033.

Prime Determinants of Growth

Population growth, particularly in urban areas, and demographic shifts such as aging populations contribute to increased demand for emergency ambulance services. Older adults tend to have higher rates of medical emergencies and chronic conditions, driving the need for EMS. Furthermore, the frequency and severity of health emergencies, including accidents, injuries, acute illnesses, and natural disasters, directly impact the demand for ambulance services. As the incidence of these emergencies rises, so does the need for timely medical response and transportation. Moreover, innovations in medical equipment, communication systems, and vehicle design enhance the efficiency, effectiveness, and scope of emergency ambulance services. Advanced technologies such as telemedicine capabilities, GPS tracking, and mobile healthcare apps improve patient care and response times.

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Report coverage & details:

Report Coverage	Details
Forecast Period	2024–2033
Base Year	2023
Market Size in 2023	$43.8 billion
Market Size in 2033	$103.9 billion
CAGR	9.3 %
No. of Pages in Report	488
Segments Covered	Transport Vehicle Outlook, Emergency Service Outlook, Equipment Outlook, and Region.
Drivers	Technological advancements
	Rise in road accidents
	Improvement in road infrastructure
Opportunities	Integration of drone technology in emergency medical service
Opportunities	Integrating telemedicine capabilities into emergency ambulance
Restraint	Limited financial resources allocated to emergency medical
Restraint	Geographical challenges

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Segment Highlights

The transport vehicle outlook segment is expected to grow faster throughout the forecast period.

By transport vehicle outlook, the transport vehicle outlook segment is anticipated to experience faster growth in the emergency ambulance market due to emergency aircraft, such as fixed-wing or helicopter transportation. They can navigate through urban areas, rural regions, and highways, reaching patients in various locations. Ground ambulances are typically more cost-effective to operate and maintain compared to air ambulances. This cost-effectiveness makes them a more viable option for healthcare providers and insurance companies. Many regions have a well-established infrastructure for ground ambulance services, including ambulance stations, roads, and communication systems. This infrastructure supports the efficient operation of ground ambulances and ensures timely responses to emergencies.

The emergency service outlook segment is expected to grow faster throughout the forecast period.

By emergency service outlook, the emergency service outlook segment is anticipated to experience faster growth in the emergency ambulance market owing to emergency services are specifically designed and equipped to respond rapidly to medical emergencies. They are often the first point of contact for individuals experiencing acute health crises, such as heart attacks, strokes, or traumatic injuries. Their ability to promptly reach and assist patients in distress is crucial for saving lives and minimizing the impact of emergencies. Emergency services operate round-the-clock, seven days a week, ensuring that assistance is available whenever emergencies occur, regardless of the time of day or night. This constant availability makes emergency services the go-to option for individuals in need of immediate medical attention, further solidifying their market dominance.

The equipment outlook segment is expected to grow faster throughout the forecast period.

By equipment outlook, the equipment outlook segment is anticipated to experience faster growth in the emergency ambulance market due to many hospitals and healthcare systems as they prefer to collaborate with ALS ambulance providers due to their ability to deliver advanced pre-hospital care and streamline the transition of patients from the scene of the emergency to definitive care in the hospital. These partnerships may lead to exclusive contracts or preferred provider agreements, further consolidating the market share of ALS services. In some healthcare systems, reimbursement rates for ALS services may be higher compared to basic life support (BLS) services, reflecting the advanced level of care provided by paramedics. This financial incentive encourages ambulance providers to invest in ALS capabilities and may contribute to the higher market share of ALS ambulances.

Asia-Pacific to maintain its dominance by 2032

By Region Many countries in Asia-Pacific are investing heavily in healthcare infrastructure development, including the expansion of ambulance fleets and emergency response capabilities. Improved access to healthcare services, including emergency medical transportation, contributes to the growth of the ambulance market in the region.

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Key Players:

Acadian Ambulance Service
Air Methods Corporation
America Ambulance Service, Inc.
Babcock International Group PLC
BVG India limited
Falck A/S
Global Medical Response
London Ambulance Service NHS Trust
MEDIVIC PHARMACEUTICAL PVT LTD.
Ziqitza Healthcare Limited

The report provides a detailed analysis of these key players in the global emergency ambulance market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Recent Development:

In August 2023, Huntsville Hospital merged with HEMSI ambulance service to expand their services throughout northern Alabama.
In May 2023, Empress EMS announced the acquisition of Mobile Life Support Services to minimize operational disruption and to ensure consistent quality service for the communities. This joint venture is expected to boost the revenue of the company.
In May 2023, the Ministry of Health of India received two ambulances for use at the National Infectious Disease Center and one land cruiser pickup to support oxygen plant operations from the World Health Organization (WHO) and the government of the Federal Republic of Germany as part of their ongoing efforts to improve the quality of healthcare services in Liberia.
In May 2021, Reliance Industries Ltd announced corporate social responsibility by offering free fuel to emergency service vehicles transporting Covid patients. With a surge in demand for ambulances tasked with transporting medical oxygen and patients to and from quarantine facilities, this initiative aimed to alleviate financial burdens on essential healthcare services and support the nation's Covid response efforts.
In May 2023, Empress EMS acquired Mobile Life Support Services, signaling a commitment to bolstering operational efficiency and maintaining service excellence. This strategic partnership aimed to streamline operations and minimize disruptions, thereby enhancing the overall quality of emergency medical services offered to communities served by both entities.

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