Ambulance Services Market to Grow by $7.77 Billion amid COVID-19 Spread

The photo shows the front grill of an ambulance.
File photo

Market research firm Technavio says the ambulance services market is poised to grow by $7.77 billion during 2020-2024. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers and the overall market environment.

Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the ambulance services market. The market growth in 2020 is likely to increase compared to the market growth in 2019.

Frequently Asked Questions:

  • Based on segmentation by type, which is the leading segment in the market?
    The emergency services segment led the market in 2019.
  • What are the major trends in the market?
    The growing geriatric population is the key trend in the market.
  • At what rate is the market projected to grow?
    The market is projected to grow at a CAGR of over 5% during 2020-2024.
  • Who are the top players in the market?
    Acadian Ambulance Service Inc., Air Methods Corp., America Ambulance Services Inc., Babcock International Group PLC, BVG India Limited, Falck AS, Global Medical Response Inc., Netcare ltd., PHI Inc., and Priority Ambulance LLC are the top players in the market.
  • What are the key market drivers and challenges?
    The market is driven by the increasing number of road accidents. However, the high cost and operational constraints of air ambulances might hamper growth.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Acadian Ambulance Service Inc., Air Methods Corp., America Ambulance Services Inc., Babcock International Group PLC, BVG India Limited, Falck AS, Global Medical Response Inc., Netcare ltd., PHI Inc., and Priority Ambulance LLC are some of the major market participants.

Although the increasing number of road accidents will offer immense growth opportunities, the high cost and operational constraints of air ambulances are likely to pose a challenge for the market vendors.

Previous articleCMS Announces Strategy to Enhance Hospital Capacity Amid COVID-19 Surge
Next articleLet’s Get It Straight: Work Restriction Guidelines

No posts to display