The global ambulance services market size is expected to reach USD 50.0 billion by 2027, expanding at a CAGR of 9.3%, according to a new report by Radiant Insights, Inc. Favorable reimbursement policies and rising medical tourisms are anticipated to fuel the demand for ambulance services over the forecast period.
The market is anticipated to grow due to favorable reimbursement policies in developed nations. In U.S., Medicare covers both non-emergency and emergency facilities for medically necessary cases, if the supplier fulfills stipulated requirements. In some circumstances, Medicare also covers unscheduled and irregular nonemergency trips. Medicare covers 80% of the approved amount for ambulance facility and the remaining 20% is covered by supplemental insurance policy of the patient. In New Jersey, Pennsylvania, and South Carolina, for repetitive, nonemergency trips, patients need prior authorization from Medicare Administrative Contractor (MAC). However, Medicare does not pay for ambulettes (wheelchair-accessible vans that provide nonemergency transportation).
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In Victoria, Australia, patients can avail emergency medical assistance by securing a membership with Ambulance Victoria, which offers medical facilities at subsidized prices. Ambulance Tasmania provides free emergency medical assistance to Tasmanian residents. Residents of Queensland (Australia) are covered with the cost of emergency services across Australia, by the QLD state government. Similarly, in U.K., public healthcare system provides free emergency and non-emergency medical facilities. In addition, patients receive NHS funding for their treatment. In Germany, public health insurance (Gesetzliche Krankenversicherung) is compulsory for every citizen and this insurance also covers non-emergency and emergency medical facilities. Private health insurance (Private Krankenversicherung) is usually opted by those who have high yearly income.Ease of payment through reimbursement policies encourages patients to opt for emergency medical assistance more frequently, which is likely to bolster growth of the ambulance services industry.
Further key findings from the study suggest:
• The ground ambulance services segment held the largest market share in 2019 owing to the rising incidence of road accidents across the globe
• Emergency services segment is anticipated to witness the fastest growth over the forecast period owing to the increasing prevalence of cardiovascular diseases such as cardiac arrest, stroke, and congestive heart failure
• The ALS segment is expected to witness rapid growth owing to rising awareness about life support facilities and increase in technologically advanced equipment and trained personnel
• The key players in the ambulance services market include London Ambulance Service NHS Trust; Acadian Ambulance Service; BVG India Limited; Falck A/S; Air Medical Group Holdings Inc.; Air Methods Corporation; and Ziqitza Healthcare Limited.
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Table of Contents
Chapter 1 Research Methodology & Scope
1.1 Market Segmentation & Scope
1.1.1 Estimates and forecast timeline
1.2 Research Methodology
1.2.1 Information procurement
1.3 Information or Data Analysis
1.4 Market Formulation & Validation
1.5 Region Wise Market Calculation
1.5.1 Region Wise Market: Base Estimates
1.5.2 Global Market: CAGR Calculation
1.6 Region Based Segment Share Calculation
1.7 List of Secondary Sources
1.8 List of Primary Sources
1.9 Report Objectives
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Outlook
2.4 Market Snapshot
Chapter 3 Ambulance Services Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Regulatory Framework
3.3.1 List of regulatory bodies
3.4 Ambulance Services Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 Favorable reimbursement policies
3.4.1.2 Entrance of new ambulance service providers globally
3.4.1.3 Rising medical tourism
3.4.1.4 Increasing number of road accidents
3.4.1.5 Rising CVD
3.4.1.6 Increasing geratric population
3.4.2 Market restraint analysis
3.4.2.1 High cost of air ambulances
3.4.2.2 Stringent regulations by the Federal Aviation Administration (FAA)
Continued…
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