CAGR: 4.3%Current Market Size: USD 35 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global emergency ambulance vehicle market is expected to grow from USD 35 billion in 2022 to USD 49.0 billion by 2030, at a CAGR of 4.3% during the Projection period 2023-2030.The growth of the emergency ambulance vehicle market is mainly driven by the rising geriatric population.
Emergency ambulance vehicles, commonly known as ambulances, are used to offer care to patients who have suffered an injury or are suffering from an acute illness. These vehicles assist paramedics or qualified medical personnel in providing emergency care and patient transfer services. The rising incidence of traumatic accidents, the number of persons suffering from numerous chronic diseases, and the aging population have all boosted the demand for ambulance services. Furthermore, the increase in medical tourism and the availability of reimbursement policies are projected to increase demand for ambulance services over the Projection period. The global increase in traumatic accidents is likely to drive market expansion. Furthermore, according to a similar source, 20 million individuals in India are hospitalized as a result of traumas such as car accidents, burns, and falls. As the number of traffic accidents increases, so does the demand for ambulance services, propelling market expansion during the Projection period. Congestive heart failure, stroke, cardiac arrest, and coronary artery disease all necessitate prompt emergency medical services and medical attention. According to the WHO, CVDs are the largest cause of death worldwide, accounting for 31.0% of all global fatalities in 2015. According to the CDC, roughly 735,000 cases of heart attack are reported in the United States each year.
Sample Request: - Global Emergency Ambulance Vehicle Market
Market Dynamics:
Drivers:
An increase in the number of hours spent in front of laptops and smartphone displays, minimal physical activity, along with a sedentary lifestyle, and an unhealthy diet, have resulted in an increase in the number of people suffering from acute diseases. The aging population has seen an increase in the prevalence of cardiovascular disorders, particularly cardiac arrests. Because acute diseases are sudden and short-lived, they can be fatal if not treated promptly. The crucial nature of treating patients with acute diseases in time to save their lives can be met by emergency ambulance trucks. Individuals' increasing frequency of acute ailments will increase the market for emergency ambulance vehicles.
Restraints:
The ambulances are outfitted with cutting-edge medical equipment, medical devices, and pricey pharmaceuticals. Medical devices, equipment, and medical monitoring, replenishment, maintenance, and replacement are all costly. The high maintenance costs will stymie market growth by lowering adoption rates in developing economies due to cash restrictions. The worldwide emergency ambulance market will be hampered by a lack of awareness in developing and poor countries. The prevalence of acute infections and accidents is greater in developing and underdeveloped countries. Yet, a lack of understanding regarding emergency ambulance vehicles is leading to an increase in fatalities and a loss of market for emergency ambulance vehicle makers.
Opportunities:
As the need for emergency ambulance vehicles has expanded, significant businesses have committed resources to study and create improved systems. Developing emergency ambulance cars with endotracheal tubes, cardiac monitors, and other advanced cardiac and airway equipment, for example, has contributed to an increase in demand for emergency ambulance vehicles in major developing countries in order to save citizen lives. Government legislation aiming at enhancing healthcare infrastructure and guaranteeing 24-hour patient care for all would present attractive opportunities for market participants.
Challenges:
The development and construction of emergency ambulance vehicles consume a significant amount of capital. Emergency ambulance vehicles use cutting-edge technologies to increase their performance; such technologies are pricey, making emergency ambulance vehicles an expensive investment. These systems' expenses are increased by the complexity of regulatory approvals and trials. The exorbitant cost of emergency ambulance trucks will stymie market expansion.
Segmentation Analysis:
The global emergency ambulance vehicle market has been segmented based on equipment, vehicle type, application, and region.
By Equipment
The equipment is Basic Life Support (BLS) and Advanced Life Support (ALS). The advanced life support (ALS) segment led the largest share of the emergency ambulance vehicle market with a market share of around 56.79% in 2022. Over the Projection period, an increase in the number of persons suffering from cardiac arrest is expected to enhance the ALS segment. According to St. John Ambulance Canada, roughly 40,000 Canadians suffer from cardiac arrest. Furthermore, according to the Sudden Cardiac Arrest Foundation, around 356,000 out-of-hospital cardiac arrests occur in the United States each year, or approximately 1,000 people every day. Furthermore, the increase in COVID-19 patients has aided the ALS segment's growth in recent years. According to Worldometer, the total number of COVID-19 cases in the United States as of May 6, 2022, was 83,437,158.
By Vehicle Type
The vehicle type segment is motorcycles, vans, cars, and others. The vans segment led the largest share of the emergency ambulance vehicle market with a market share of around 40.34% in 2022. Vans are versatile in terms of vehicle sizing, making them ideal for integrating advanced medical equipment. They provide more space than vehicles and motorcycles, allowing ENTs and paramedics to work uninterrupted. The versatility, flexibility, and feasibility of vans contribute considerably to their growing popularity as the best choice of emergency medical vehicles.
By Application
The application segment is hospitals, emergency centers, and others. The hospitals segment led the largest share of the emergency ambulance vehicle market with a market share of around 39.45% in 2022. With the pandemic highlighting the status of healthcare infrastructure, countries around the world are focusing on boosting capital spending to improve healthcare infrastructure and its overall development. Increasing investments will aid in the development of infrastructure for emergency ambulance cars, ensuring that hospitals continue to dominate the worldwide emergency ambulance vehicle industry.
Global Emergency Ambulance Vehicle Market - Sales Analysis.
The sale of the emergency ambulance vehicle market expanded at a CAGR of 3.4% from 2016 to 2022.
According to the British Heart Foundation, roughly 200,000 hospital visits are made each year owing to heart attacks, which equates to one visit every three minutes. It also stated that approximately 40,000 deaths due to stroke are expected in the United Kingdom each year. CVD is one of the top causes of death worldwide, and it frequently necessitates prompt medical intervention, increasing the demand for ambulance services. As a result, the increased prevalence of cardiovascular illnesses is likely to drive market growth. The presence of a big population pool over 60 years old, which normally has a lower immune level and is prone to neurological disorders, heart difficulties, cancer, and spinal injuries, is also projected to have a significant impact on growth.
For example, the United Nations Department of Economic and Social Affairs predicts that by 2050, one in every six persons worldwide would be beyond the age of 65. Also, according to a comparable estimate, there were 703 million persons over the age of 65 worldwide. As a result, the growing geriatric population is expected to drive market expansion. Medical tourism is also on the rise as healthcare facilities and reimbursement policies improve. According to The American Journal of Medicine, the total number of medical tourists across all countries was predicted to be 14-16 million in 2017.
Thus, owing to the aforementioned factors, the global emergency ambulance vehicle market is expected to grow at a CAGR of 4.3% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the emergency ambulance vehicle market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region dominated the emergency ambulance vehicle market and held a 38.2% share of the market revenue in 2022.
Global Emergency Ambulance Vehicle Market - Country Analysis:
Germany's emergency ambulance vehicle market size was valued at USD 0.75 billion in 2022 and is expected to reach USD 1.19 billion by 2030, at a CAGR of 6% from 2023 to 2030. Several factors such as the increasing need for emergency care prior to hospitalization, an increase in the number of emergency cases, and the existence of key industry participants are driving market expansion in this region.
China’s emergency ambulance vehicle market size was valued at USD 0.78 billion in 2022 and is expected to reach USD 1.26 billion by 2030, at a CAGR of 6.2% from 2023 to 2030. The expanding geriatric population in countries such as China can be ascribed to the rapid growth rate. According to WHO, China's geriatric population is Projection to reach 28% of the entire population by 2040, and because the geriatric population is more sensitive to various ailments, the Asia Pacific area is expected to increase at the fastest rate.
India's emergency ambulance vehicle market size was valued at USD 0.60 billion in 2022 and is expected to reach USD 0.96 billion by 2030, at a CAGR of 6.1% from 2023 to 2030. Increasing traffic accident rates, expansion of the healthcare sector, and a rise in emergency cases are expected to move the industry ahead. Road accidents are a prominent cause of death, disability, and hospitalization in India, with the country ranked first among 199 countries in terms of road accident deaths, accounting for over 11% of all accident-related deaths worldwide. According to the 2019 Road Accident Statistics, there were 449,002 accidents in the country in 2019, resulting in 151,113 deaths and 451,361 injuries.
Key Industry Players Analysis:
To increase their market position in the global emergency ambulance vehicle market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
4.3% |
Market Size |
35 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Equipment, By Vehicle Type, By Application, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Envision Healthcare, America Ambulance Services, Inc., London Ambulance Service NHS Trust, Acadian Ambulance Service, BVG India Limited, AIR MEDICAL GROUP HOLDINGS, INC. (AMGH), Air Methods Corporation, Falck Denmark A/S, Ziqitza Healthcare Limited, and MEDIVIC AVIATION. |
By Equipment |
|
By Vehicle Type |
|
By Application |
|
Regional scope |
|
Scope of the Report
Global Emergency Ambulance Vehicle Market By Equipment:
Global Emergency Ambulance Vehicle Market By Vehicle Type:
Global Emergency Ambulance Vehicle Market By Application:
Global Emergency Ambulance Vehicle Market By Region:
Global emergency ambulance vehicle market is expected to reach USD 49.0 billion by 2030.
The emergency ambulance vehicle market is projected to have a CAGR of 4.3%.
Based on the vehicle type, the emergency ambulance vehicle market is segmented into motorcycles, vans, cars, and others.
An increase in the number of hours spent in front of laptops and smartphone displays, minimal physical activity, along with a sedentary lifestyle, and an unhealthy diet, have resulted in an increase in the number of people suffering from acute diseases.
Leading market players active in the global emergency ambulance vehicle market are Envision Healthcare, America Ambulance Services, Inc., London Ambulance Service NHS Trust, Acadian Ambulance Service, BVG India Limited, AIR MEDICAL GROUP HOLDINGS, INC. (AMGH), Air Methods Corporation, Falck Denmark A/S, Ziqitza Healthcare Limited, MEDIVIC AVIATION among others.
Political Factors- Several variables influence the healthcare industry, including insurance obligations, tax legislation changes, and consumer protection. Tax policy changes can have an impact on government healthcare spending. It can be advantageous because it allows for larger subsidies. It might also be a source of concern. Political changes can have an impact on the population and the healthcare services to which they are entitled, especially when healthcare bills and plans change.
Economic Factors- Several economic concerns, particularly inflation, unemployment, and interest rates, will have an impact on healthcare companies. Any of these changes can affect how the public spends its money, hence influencing policy expenditure. If the unemployment rate rises, there will be fewer people able to pay medical device companies' wages. Similarly, if fewer people are able to work, they will not be eligible for employment benefits such as healthcare. Those who do not have these advantages are unlikely to be able to pay the full cost of any hospital or emergency department visit. When they become ill, they are less likely to seek medical attention. The public will have a limited range of healthcare options available to them.
Social Factors- Understanding changes in demographics and public views is critical in healthcare. Certain communities can share fears, beliefs, and cultural standards. If a healthcare worker or hospital is not aware of these conditions when treating the public, it can lead to complications. Therefore, medical professionals must remain alert to new developments. The usage of essential oils, for example, as a remedy for various ailments such as flu, fevers, and even incurable problems such as autism, is rising. Knowing why people are turning to natural medicines can help healthcare practitioners engage with and treat these users. Another recent example is the chewing of detergent pods.
Technological Factors- Because of technological improvements, the healthcare business is seeing good changes in treatments. Medical equipment advancements enable patients to obtain better care. Hearing aid devices, for example, provide the tools to improve performance, such as giving crystal clear sound, less background noise, and premium alternatives for a better hearing experience. Increasingly businesses are turning to applications to connect doctors with patients in the comfort of their own homes. In addition, the opportunity to ask inquiries concerning illnesses is now available via email and live chat on websites.
Environmental Factors- Because hospital trash is dangerous in nature, the hospital has taken numerous measures to develop a common policy for effectively discarding medical garbage. Australia's environmental situation is quite favorable, and central Australia has a dry climate, which may result in an increase in the number of patients. Hospital administration in Australia must execute effective strategic plans and procedures to mitigate any healthcare concerns and issues. The Australian Department of Environment has established various rules and regulations to ensure a clean environment. Therefore, hospitals in Australia must evaluate the variables and improve their business processes and environmental programs.
Legal Factors- According to government statistical data, the rising usage of new technologies is transforming modern medical practice. Hospitals in Australia are mandated to maintain high standards for patient privacy and boost patient value. All pharmaceuticals and machines imported by hospitals in Australia from other countries must be approved by the Australian healthcare department. Nonetheless, all healthcare organizations must follow the Australian Information Commissioner's Pound Road Medical Centre for the privacy of patient data records. It is assumed that all hospitals in Australia have followed all applicable rules and regulations when providing health treatment to their patients (Hamdan, 2017).
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