Future Market Insights predicts that the global emergency medical services market will experience a 6.2% compound annual growth rate, reaching a market valuation of US$ 37.2 billion by 2032. The ground transportation sector is expected to maintain its dominance throughout the assessment period, accounting for 86.2% of the total market share in 2021.
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The demand for emergency medical services is on the rise due to an increase in cardiac arrests and accidents globally. Technological advancements in emergency medical service software solutions offer additional benefits, including forecasting future health hazards, improved communication during emergencies, and real-time guidance during emergency scenarios.
Several factors contribute to the growth of the emergency medical services market, including a higher number of infection-related cases, increased morbidity risks among the elderly population, rising investments and funding for medical services, a surge in trauma cases, higher healthcare expenditures, and an increase in hospital establishments worldwide.
Moreover, the availability of emergency medical services through well-developed transportation infrastructure, improved communication channels, robust software solutions, and procedural aid during emergency situations positively influences the market. Additionally, air ambulance utilization, which provides essential medical transport services during emergencies, has also contributed to the growth of the emergency medical services industry.
“Rising adoption of air ambulances, along with growing demand for drone-based emergency medical services will augment the growth in the market,” says an FMI analyst.
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Key Takeaways:
- Advance life support services accounted for about 56.6% of the global market share in 2021, owing to the rise in demand due to the advent of the COVID-19 pandemic.
- As providers, hospital-based EMS held a dominant share of 27.4% in 2021. Hospital-based EMS provide pre-hospital care for patients during cases of emergency and trauma.
- Ground transport services are a dominant segment in terms of the fleet within the global market, carrying a market share of around 86.2% in 2021.
- North America is observed to be the leading region with an approximate value share of 35.6% in 2021.
Competition Landscape
Market expansion will be hampered by increasing vendor competition. Because there are so many brands and regional and local vendors, there are a lot of rivalries. Furthermore, suppliers in the emergency medical services industry are expanding their offerings to include mobile healthcare, medical educators, primary care extenders, and patient advocates. During the focused period, increased competition is expected to have a negative impact on the worldwide emergency medical service market growth. The emergency medical services industry is fragmented, and providers are competing by using both organic and inorganic growth techniques.
More Insights:
The North American region is the largest emergency medical equipment market due to the presence of well-established healthcare infrastructure, high healthcare expenditure, and the adoption of advanced medical technologies.
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Key Market Segments Covered in Emergency Medical Services Industry Research
By Services:
- Basic Life Support
- Advance Life Support
- Mortuary Services
- Patient Transfer Services
By Providers:
- Fire-Department-Based EMS
- Government EMS
- Hospital-Based EMS
- Private Ambulance Service
- Other EMS Agencies
By Fleet:
- Ground Transport
- Air Transport
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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