PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498812
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498812
Patient Transport Services Market size was valued at USD 35,125.2 Million in 2023, expanding at a CAGR of 6.00% from 2024 to 2032.
Patient Transport Services Market refers to the structured industry segment comprising services that enable the transportation of patients who need non-emergency medical transportation services to a care locale from another healthcare facility, to their home, and other places. Such services are necessary for providing a safe and comfortable shifting of patients who are physically not in a condition to drive or use public transport due to health reasons. Services are conducted with the help of ambulances, wheelchair transportation vans, stretcher transportation, and various other highly equipped vehicles with special modifications to meet patients' needs with different medical requirements.
Patient Transport Services Market- Market Dynamics
Rise In Road Accidents Drives Patient Transport Services Market
The increase in car crashes is likely to drive the patient transport services industry forward. A road accident is defined as an incident involving at least one vehicle on a public road that results in the injury or death of at least one person. Road accidents necessitate emergency medical evacuation for non-life-threatening injuries or medical issues that necessitate rapid hospital treatment. Individuals who require continuous treatment or rehabilitation as a result of their injuries incurred in the accident must also be transported medically. For instance, in September 2022, according to the National Highway Traffic Safety Administration, a federal government agency part of the Department of Transportation, an estimated 20,175 people died in on-road car accidents in the United States, a 0.5% increase from 2021. Furthermore, 42,915 persons died on American roads in 2019, up 10.5% from 2020.
Patient Transport Services Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.00% over the forecast period (2024-2032)
Based on Transport Vehicle segmentation, in 2023, ground ambulances controlled the ambulance sector in the year 2023
Based on Emergency Services Type segmentation, emergency services was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Patient Transport Services Market is segmented on the basis of Transport Vehicle, Emergency Services Type, Distribution, and Region.
The market is divided into three categories based on Transport Vehicles: Ground Ambulance, Air Ambulance, and Water Ambulance. In 2023, ground ambulances dominated the ambulance sector. A ground ambulance is a vehicle that is adequately maintained, equipped, and authorized to transport patients via road to their destination, such as hospitals with resources.
The market is divided into two categories based on Emergency Services Type: Emergency Services and Non-emergency Services. In 2023, emergency services dominated the ambulance services industry. During the projection period, this segment is expected to grow rapidly. The frequency of cardiovascular illnesses such as cardiac arrest, heart failure, and stroke, and rising cases of the coronavirus pandemic around the world are all contributing to the growth of the emergency services sector.
Patient Transport Services Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America led the Patient Transport Services market in 2023, contributing for more than 45% of total revenue. Several important market players, the demand for high-quality healthcare treatment, the region's advance healthcare infrastructure, and favorable reimbursement policies, and regulatory reforms in the health sector all contribute significantly to the industry's growth. The US healthcare system's emphasis on quality care and value-based facilities has resulted in market growth. Furthermore, the expansion of community paramedicine in North America has contributed to the region's significant market size.
The Asia-Pacific market is predicted to expand the quickest during the next decade. Advanced medical care infrastructure and an increase in road accidents are two significant reasons projected to propel the regional market ahead. Accidents in Asia Pacific often necessitate emergency medical services, increasing demand for the region's emergency medical equipment market. To avoid wasting healthcare resources, government programs to improve infrastructure are spreading worldwide.
The competitive landscape for the patient transport services market revolves around the offering of efficient and reliable services for the transportation of patients. Leading players such as Braile Biomedica, Baxter International, Getinge Ab (Maquet), B. Braun Melsungen AG, and W. L. Gore & Associates, among others in this market consider several factors, including response time, level of care during transportation, geographic coverage, and pricing strategies. Some companies may differentiate themselves through technology integration, specialized services for different patient needs, and partnerships with healthcare facilities, among other factors. This competitive landscape is a vital source of information for the stakeholders because it helps them analyze the strengths and weaknesses of market players, anticipate industry trends, and make well-grounded decisions tending to increase competitiveness in the patient transport services sector.
In August 2022, MTM Inc., a medical and transportation management firm based in the United States, paid an unknown sum to buy Veyo LLC. With this acquisition, MTM is expected to improve service and self-service features while also providing the industry's most extensive NEMT experience. Veyo LLC, established in the United States, provides non-emergency medical transportation.
GLOBAL PATIENT TRANSPORT SERVICES MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Envision Healthcare
London Ambulance Service NHS Trust
Acadian Ambulance Service
BVG India Limited
America Patient Transport Services, Inc
Falck Denmark A/S
Air Medical Group Holdings, Inc.
Air Methods Corporation
Ziqitza Healthcare Limited
Medivic Aviation
Others