Global Ambulance Services Market to Grow at CAGR of 7.9% from 2014 to 2020
Deerfield Beach, FL -- (SBWIRE) -- 10/17/2017 -- According to the report, global demand for ambulance services was valued at USD 21.0 billion in 2014 and is expected to reach USD 33.0 billion in 2020, growing at a CAGR of 7.9% between 2015 and 2020. Zion Market Research has published a new report titled "Ambulance Services Market by Mode of Transport (Ground, Air, and Water), by Equipment (Advance Life Service and Basic Life Service), by Service (Emergency and Non-Emergency): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020."
Ambulance services are vital to a patient's chances of surviving severe trauma or illness. These services offer transport in response to unexpected injury and illness, emergency pre-hospital patient care, carry out specialized rescue services, transport patients between hospitals, and coordinate patient services in multi-casualty events. Ambulance services provide equipment and expertise in the emergency assessment, intervention, and management. It also transports patients in a various uncontrolled, controlled and disaster environments.
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Global ambulance service market is mainly driven by increasing incidences of accidents and chronic diseases such as diabetes and cancer. The rising incidence of emergency cases due to diabetes, cancer and heart attacks has become a major factor for accelerating the market for ambulance services. However, stringent regulation by Federal Aviation Administration (FAA) for air ambulance service providers may hamper the growth of ambulance services market.
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Ground ambulance services dominated the global ambulance services in 2014 with over 79% share in total revenue generated. Air ambulance was the second largest segment of ambulance services market. Water ambulance services hold a very small share of the global market.
On the basis of equipment, advanced life support segment dominated global ambulance services market with over 60% share in total revenue generated and is also expected to exhibit the fastest growth during the years to come. Emergency ambulance services dominated the industry with over 70% share in total revenue generated in 2014.
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North America is a dominating regional market for ambulance services in 2014. North America is followed by Europe and Asia Pacific. Europe is a second highest region for the demand of ambulance services. It accounts around 20% share of the total revenue generated in 2014. Asia Pacific is a fastest growing regional market for ambulance service market. Rising economies and demographics in the developing countries such as India and China is expected to expand the ambulance services market in Asia-Pacific region.
Some of the key player operative in global ambulance services market includes Air Methods Corporation, Dutch Health BV, Envision Healthcare Corporation, Falck A/S, London Ambulance Service NHS Trust, and Rural/Metro Corporation.