Figure: Ambulance Services Market
The US market for ambulance services was valued at around USD 14.6 billion in 2015 and is expected to reach USD 21.8 billion by 2022, growing at a CAGR of around 6.2% during the forecast period of 2016 to 2022. Ambulance services are very critical for the transportation of medically injured or ill patients to and from hospitals to ensure timely health treatment by the healthcare professionals. Effective ambulatory services lead to timely medical intervention for accident victims or patients suffering from chronic illness.
The US ambulance services market has been boosted in recent years by the rising geriatric population and a growing prevalence of chronic diseases such as cancer and diabetes. The ambulance services market includes private and public operators, which provides transportation services to medically ill patients by air or surface, along with the primary medical care. These vehicles are equipped with the life-saving devices operated by healthcare professionals. Private ambulance services have emerged in many countries to provide ambulance services, particularly in rural areas which lack sufficient funds to provide free ambulance services and also due to state monetary issues. This ambulance privatization has enabled the operators to focus on innovative technologies and thereby support long-term growth for the market.
Rise in base of geriatric population, increasing incidence rates of diabetes worldwide, increase in demand for healthcare services, complex medical needs, increasing patients with chronic diseases, and rising incidence rates of cardiovascular diseases which require immediate treatments are some of the driving factors for the growth of this market. In addition, increasing popularity for air ambulance services, and large number of patients with private health insurance are also expected to fuel this market further in the coming years. However, there are certain restraining factors that could hinder the market in the coming years, which includes lower Medicare reimbursement rates, and risk of errors in medication by pharmaceutical professional.
The report delivers a strategic analysis of the US market for ambulance services and growth forecast for the period from 2016 – 2022. The scope of the report includes competitive analysis of various market players who are operating in the market, segmental analysis based on type of services and type of condition. It also covers geographical analysis (US) of the market with growth forecast for the period of 2016 – 2022. The Porter’s Five Forces analysis and value chain analysis included in the report provides an insight into market dynamics and industry competition.
Moreover, the report also includes growth strategies and entry barriers to be considered to cater to the exact business opportunities in this market. Additionally, to aid in strategic decision making, the report also includes competitive profiling of leading players, recent developments in the industry and various business strategies adopted by them. This report will help players in US ambulance services market to plan and implement their strategies in different market areas such as emerging geographies, and new technologies
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