The emergency medical services (EMS) market is on track for a period of stable expansion, according to industry forecasts. A projected Compound Annual Growth Rate (CAGR) of 6.2% is anticipated over the next decade (2024-2034), with the market reaching a projected value of US$41.66 billion by 2034. This steady growth builds upon a solid foundation, with the market estimated to reach US$22.76 billion by 2024.
The ground transportation sector is expected to maintain its dominance throughout the evaluation period, securing an impressive 86.2% share of the overall market in 2021. This sector’s steadfast position underscores its pivotal role in emergency medical services, ensuring swift and effective responses to critical situations.
The escalating demand for emergency medical services stems from a global increase in cardiac arrests and accidents. The need for rapid and efficient emergency medical response has never been more critical. FMI’s analysis highlights the industry’s pivotal role in addressing these challenges and providing life-saving assistance.
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Several factors contribute to the growth of the Global Emergency Medical Services Industry, 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 emergencies 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.
Global Emergency Medical Services Industry 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 provides 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.
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Global Emergency Medical Services Industry 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 hurt 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 Global Emergency Medical Services Industry due to the presence of well-established healthcare infrastructure, high healthcare expenditure, and the adoption of advanced medical technologies.
Key Market Segments Covered in Global Emergency Medical Services Industry Research
By Services:
- Basic Life Support
- Advance Life Support
- Mortuary Services
- Patient Transfer Services
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By Providers:
- Fire-Department-Based EMS
- Government EMS
- Hospital-Based EMS
- Private Ambulance Service
- Other EMS Agencies
By Fleet:
- Ground Transport
- Air Transport
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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