DUBLIN--(BUSINESS WIRE)--The "Ambulance Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The ambulance services market is expected to register a CAGR of nearly 8.01% during the forecast period, with a revenue of approximately USD 29,773.49 million in 2020 and expected to reach USD 47,081.90 million by 2026.
Companies Mentioned
- Envision Healthcare Corporation
- Scandinavian AirAmbulance
- Acadian Ambulance Service, Inc.
- BVG India Ltd.
- America Ambulance Services, Inc.
- Falck Holding A/S
- Air Methods Corporation
- Ziqitza Health Care Limited
- Medivic Aviation
- Dutch Health B.V.
- Livonta Global Pvt Ltd
Key Market Trends
Air Ambulance is Expected to Grow With a Higher CAGR During the Forecast Period
The COVID-19 wave has had a huge impact on the air ambulance business. The operators need to be more careful to ensure the patients don't contract the virus as the chances of them getting infected are higher with their critical conditions. This increases the time of preparing the aircraft for the transfers and thus, requires to act faster than before. This brings a burden to the staff and the companies and an additional expense.
Air ambulances are the ambulance services that are vital for transportation in case of medical emergencies. Air ambulances are armed with medical equipment and medical staff that offers medical care in flight, while non-medically equipped and staffed aircraft assist in transporting patients and organs. These services offer various benefits, such as convenience, flexibility, and safety. The increasing burden of chronic diseases like cardiac arrests and other emergencies is boosting the segment growth.
In April 2019, Air Methods announced the expansion of its partnership with Anthem Blue Cross and Blue Shield. The company's services may be part of its in-network health coverage benefits in six states in the United States. Under the terms of the partnership, Anthem-affiliated health plan members in California, Georgia, Nevada, Colorado, Virginia, and New York may receive Air Methods' critical care air services at discounted in-network rates.
North America is Expected to Lead the Ambulance Services Market During the Forecast Period
North America has dominated the ambulance services market and the dominance of the market is mainly attributable to the presence of several key market players in this region, growing demand for quality healthcare services, and well-established healthcare infrastructure.
In addition, the presence of favorable reimbursement policies in the developed nations is also expected to drive the overall market. In the United States, Medicare covers both emergency and non-emergency ambulance services, if it is considered medically necessary and the supplier fulfils Medicare ambulance requirements. The budding community of paramedicine in North America also contributes to the large market size in this region.
According to the American Heart Association, in January 2019, stroke was the leading cause of death in the United States. Around 2.7 million people in the country live with atrial fibrillation and around 800,000 people encounter a stroke, annually, due to blockage in the blood vessel, which supplies blood to the brain
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Entrance of New Ambulance Service Providers Globally
4.2.2 Increasing Number of Accidents
4.2.3 Introduction of New Ambulances
4.3 Market Restraints
4.3.1 High Cost of Air Ambulances
4.3.2 Stringent Regulation by the Federal Aviation Administration (FAA)
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Mode of Transport
5.1.1 Air Ambulance
5.1.2 Water Ambulance
5.1.3 Ground Ambulance
5.2 By Equipment
5.2.1 Basic Life Support (BLS) Ambulance Services
5.2.2 Advanced Life Support (ALS) ambulance services
5.3 By Type of Services
5.3.1 Emergency Services
5.3.2 Non-Emergency Services
5.4 Geography
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/wmajjr
