Future Market Insights (FMI), a renowned market research firm, has unveiled a comprehensive analysis report illuminating the promising trajectory of the Global Patient Transport Services Industry. The report forecasts an extraordinary Compound Annual Growth Rate (CAGR) of 12% from 2022 to 2032, propelling the market from a valuation of US$ 34.1 Billion in 2021 to an anticipated US$ 117.1 Billion by the end of 2032.
This projected growth rate represents a substantial leap, surpassing historical trends in the Global Patient Transport Services Industry. It underscores the industry’s resilience and adaptability, emphasizing its pivotal role in the global healthcare ecosystem.
The surge in demand for emergency medical transportation systems is identified as a key driver for this remarkable growth. In situations involving severe patient trauma or adverse outcomes, efficient allocation of resourceful equipment planning and structure enables immediate care and transfer to emergency medical facilities.
Furthermore, the market is expected to witness increased sales due to the efficiency in managing critical care and long-term care patients in terms of mobility, positioning, and transfer. Chronically ill patients are provided with alternatives for transportation to and from medical facilities. These instances are contingent upon reimbursements for patient transportation equipment capabilities, determined by the patient’s insurance coverage or government-funded initiatives.
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The market for patient transportation is likely to gain traction, especially with the high prevalence of chronic diseases, high volumes of trauma-related cases, and disabilities. In cases where bariatric and diabetic patients require caregiver assistance for mobility, patient transportation solutions provide assistance.
To offer a diverse product range, manufacturers in the patient transportation market are developing products that are engineered as per disease indication. Key competitors have maintained a leading position in the market by integrating smart technologies into existing product offerings.
Several firms are also promoting equipment sales through integration and collaboration with medical service providers, such as hospitals, which in turn is expected to boost sales in the market over the forecast period.
“Rising availability of indication-specific patient transportation solutions, along with the integration of connective technology such as artificial intelligence (AI) and IoT in beds and chairs will push sales in the market in the forthcoming years,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Global Patient Transport Services Industry Key Takeaways:
- Based on application, non-emergency transportation held about 4% of the total market share in 2021, and the trend is expected to continue over the forecast period.
- In terms of end users, the hospital segment accounted for 45.9% of the total market share in 2021.
- Sales in the U.S. patient transportation market are projected to increase at a 6.3% CAGR over the assessment period.
- Germany will witness high demand for patient transportation solutions, rising at a 6% CAGR through 2032.
- China will continue dominating the East Asia patient transportation market, with sales growing at a 5.9% CAGR over the forecast period.
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Global Patient Transport Services Industry Competition Landscape
Key players operating in the global patient transportation market are improving their product portfolios by incorporating breakthrough technologies for comprehensive patient care throughout the transportation process. In addition to this, the newly developed products can be personalized for use in response to certain disease-related events. For instance:
- Stryker launched the industry’s first linked ambulance cot in March 2022, building on the success of its predecessor, the Power-PRO 2 powered ambulance cot. Greater maneuverability, improved safety, and connectivity tools are all part of the new development, which will help to mitigate time and cost constraints.
- In December 2021, Vendlet launched a new powered patient turning aid.
Global Patient Transport Services Industry Key Players:
- Envision Healthcare
- London Ambulance Service NHS Trust
- Acadian Ambulance Service
- BVG India Limited
- America Patient Transport Services, Inc
- Falck Denmark A/S
- Air Medical Group Holdings, Inc.
- Air Methods Corporation
- Ziqitza Healthcare Limited
- Medivic Aviation
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Ambulette Services refers to the transport of patients who require medical assistance or monitoring during transit from one location to another, such as from a hospital to a healthcare facility or home. PTS can be provided by various organizations, including private companies, non-profit organizations, and government agencies.
PTS can include various types of transportation, such as ambulances, medical helicopters, or specialized vehicles designed to transport patients with mobility limitations. The service may also include medical personnel, such as paramedics or nurses, who are trained to provide medical care during transport.
Market Segments Covered in Global Patient Transport Services Industry Analysis
By Transport Vehicle:
- Ground Ambulance
- Air Ambulance
- Water Ambulance
By Emergency Services Type:
- Emergency Services
- Non-emergency Services
By Equipment Type:
- Advanced Life Support (ALS) Patient Transport Services
- Basic Life Support (BLS) Patient Transport Services
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 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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