by Ambulance Services Market: Companies Investing to Increase Fleet of Motor Ambulances
Heavy traffic, increasing urban population, and the rising demand for pre-hospital emergency services has catalyzed the need for motor ambulances. This is well justified, since ground ambulances are anticipated to enjoy the highest revenue amongst all modes of transport in the ambulance services market during the forecast period, with an estimated value projection of US$ 42.5 billion by the end of 2027.
Get the sample copy of report@ https://qyresearchmedical.com/sample/111763
Motor ambulances are found to effectively reduce response time and deliver proactive care in cases of urgent missions. Thus, healthcare companies in the ambulance services market are focusing on increasing their number of motor ambulances in various healthcare institutions. In order to answer more number of emergency phone calls, healthcare providers in the ambulance services space are employing seasoned staff that receive enough buffer to rest and recover. This has been achieved by decreasing the number of ambulance missions.
Companies in the ambulance services market are investing to develop equipment embedded with GPS technology to help ambulance technicians achieve efficient time registration.
Lack of Standardized Healthcare Infrastructure Triggers Demand for Efficient EMS
The Asia Pacific region is projected for exponential growth in the global ambulance services market, with a leap in revenue of ~US$ 9 billion in 2018 to a value of ~US$ 13.5 billion by the end of 2027. Due to the potential of high incremental opportunities in the Asia Pacific region, companies in the ambulance services market are increasing the availability of emergency medical services (EMS) in the healthcare institutions of rapidly-developing economies such as India. They are working closely with health commissions in Europe to understand the framework of emergency systems.
Growing incidence of cardiac-related emergencies, accident fatalities, and pregnancy deaths in India have triggered the demand for efficient ambulance services in the region. Due to the lack of standardized ambulances that offer pre-hospital care, healthcare companies have taken the onus of strengthening the healthcare infrastructure of India.
WSNs Gain Popularity as Energy-efficient Solution for Successful Medical Diagnosis
The Internet of Things (IoT)revolution is transforming the ambulance services market. IoT is found to be helpful in delivering quality and accurate information to achieve successful medical diagnosis in case of emergencies.
More and more individuals are seeking the delivery of patient-centric medical care. Hence, companies in the ambulance services ecosystem are using various techniques of IoT to deliver EMS. As such, the technique of wireless sensor network (WSN) is gaining traction in medical applications. WSNs are being increasingly used by healthcare industries in the ambulance services space to measure a patient’s vital parameters through medical sensors attached to the body.
Get a glimpse of the in-depth analysis through our Report Brochure
Companies in the ambulance services market are increasing their production capabilities to manufacture end-point devices such as audio and video devices that aid in processes of advanced patient monitoring. Multi-tier WSNs are gaining increasing popularity due to their cost-effectiveness, owing to low-energy consumption.
Ambulance Services Market: Tele-EMS Helps Reduce Costs and Improve Productivity
Emergency medical cases can lead to panic and trauma in many individuals. Complex post-hospital formalities and procedures only add to more stress for these individuals. These challenges have led to the demand for tele-EMS. Healthcare companies in the ambulance services market are offering tele-EMS in healthcare institutions to improve productivity and reduce overall costs.
China, the U.S., and India take the lead in the total number of ambulances that respond to stroke calls. However, the number of stroke cases is much higher than the calls that are actually answered by ambulances. To reduce the severity of this problem, healthcare providers in the ambulance services landscape are increasing the availability of tele-EMS.
Companies in the ambulance services market are helping healthcare institutions introduce reimbursement incentives. With the help of tele-EMS, healthcare providers can educate patients about the various financial incentives available, and offer them a wide range of transport options in case of emergencies. Efforts are being made to implement new reforms in the delivery system to provide patient-centric and cost-efficient care, so that patients need not suffer due to increasing costs of pre-hospital care.
Analysts’ Viewpoint
Life-threatening emergency situations have necessitated the need for improvements in the advanced life support equipment of ambulances. Healthcare industries in the ambulance services market are adopting the technology of electronic health records (EHR) to interpret, store, and transfer patient data to support out-of-hospital care.
However, limitations of EHR lead to difficulty in obtaining matching data sets for careful analysis. Hence, healthcare companies should engage with entities of the local health economy to adapt EHR with the constantly changing healthcare environment. They should invest in IoT for EMS to increase the availability of patient-centric information through crowdsensing platforms. With the growing penetration of smartphones in the market, healthcare industries can receive valuable information acquired from the sensors attached to smartphones.
Ambulance Services Market: Overview
The ambulance services market for the historical period of 2017–2018 and forecast period of 2019–2027, increase in the number of accidents, rise in incidence of chronic diseases such as diabetes and cancer, and rise in the geriatric population are anticipated to drive the global ambulance services market.
According to the report, the global ambulance services market was valued at ~US$ 39 Bn in 2018. The ambulance services market is projected to expand at a CAGR of ~4% from 2019 to 2027.
Increase in Number of Accidents to Propel Ambulance Services Market
Rise in the adoption rate of commercial and personal vehicles by people for different purposes results in higher number of accidents. Accidents create the need for immediate hospital visits for medical treatment and support. Hence, patients frequently require ambulance services for transportation to-and-from hospitals. For example, the U.S. is one the top countries in the world in terms of road traffic accidents. Approximately 10 million road accidents take place every year in the U.S. Amongst them, nearly 2 to 4 million drivers experience permanent injuries every year.
Additionally, the consumption of alcohol while driving increases the risk of accidents. Thus, increase in number of accidents would boost the ambulance services market. According to the Ministry of Road Transport & Highways (MORTH), in 2015–2016, roughly 6,800 people died and 18,000 were injured in drunk driving accidents. Hence, increase in the number of accidents is expected to drive the ambulance services market from 2019 to 2027.
Ambulance Services Market: Favorable Reimbursement Policies
Favorable reimbursement policies in various countries such as the U.K., the U.S., and Japan have been boosting the growth of the ambulance services market. In order to make ambulance services affordable for the patient population, reimbursements are provided against availing ambulance services.
For example, Canada-based Sun Life Assurance Company reimbursed around 80% of the total amount for availing emergency ambulance services. Bupa Australia Pty Ltd. provides emergency ambulance cover per person in Australia (insured person). Similarly, the State Ambulance Insurance Plan of New South Wales provides insurance cover for ambulance services in various states such as Queensland and South Australia.
All these reimbursement policies in various countries make ambulance services affordable for the patient population, thus fueling the growth of the ambulance services market.
Changes in Rules & Regulations to Hamper Ambulance Services Market
The Federal Aviation Administration (FAA) is an organization that deals in providing efficient and safe aerospace systems in the U.S.
The FAA imposed strict rules & regulations in order to provide safe transport to patients via air ambulances (helicopters and fixed-wing aircraft). Once every year or during every five-year tenure, the FAA makes changes in rules, which is necessary to increase the safety level in air ambulances.
These rules mandate the staffing of more medical professionals and technical persons along with additional on-board safety equipment. Implementing all these rules in air ambulances increases the cost incurred per transportation, and reduces the profit margins of service providers. This may restrain the growth of the ambulance services industry.
Global Ambulance Services Market: Competition Landscape
This report profiles the major players in the global ambulance services market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments.
The ambulance services market is moderately fragmented, with the presence of a few large-scale players present in international markets, and numerous small-scale players in regional markets. The top four to five players hold a majority share of the global ambulance services market.
Prominent players operating in the global ambulance services market include
- Acadian Ambulance Service, Inc.
- Air Methods Corporation
- Dutch Health B.V.
- Envision Healthcare Corporation
- Falck A/S
- London Ambulance Service NHS Trust
- Air Medical Group Holdings, Inc.
- Scandinavian AirAmbulance
- Lufttransport AS.
Key Questions Answered in Ambulance services market Report
- What is the scope of growth of companies in the ambulance services market?
- What will be the Y-o-Y growth of the ambulance services market from 2019 and 2027?
- What is the influence of changing trends in technologies on the global ambulance services market?
- Will North America continue to remain the most profitable regional market for ambulance service providers?
- Which factors will impede the growth of the global ambulance services market during the forecast period?
- Which are the leading companies in the global ambulance services market?
Global Ambulance Services Market – Segmentation
Mode of Transport
- Ground Ambulances
- Air Ambulances
- Water Ambulances
Equipment
- Basic Life Support (BLS)
- Advanced Life Support (ALS)
Service
- Emergency
- Non-emergency
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Purchase Complete Report Now@ https://qyresearchmedical.com/report/checkout/111763/2900
