The Emergency Medical Services Market is gearing up for a period of stable and consistent growth, according to market forecasts. This essential service sector is projected to reach US$22.76 billion by 2024 and is expected to maintain a moderately positive trajectory over the next decade. By 2034, the market is anticipated to reach an impressive US$41.66 billion, reflecting a compelling Compound Annual Growth Rate (CAGR) of 6.2%
Ground transportation remains the dominant force within the EMS industry, accounting for a substantial 86.2% market share in 2021. This dominance is expected to continue throughout the forecast period, highlighting the critical role of ambulances and other ground vehicles in providing timely and effective medical care during emergencies. The continued reliance on ground transportation reflects its irreplaceable function in delivering crucial medical attention promptly.
The escalating demand for emergency medical services is driven by a global surge in cardiac arrests and accidents, emphasizing the urgent need for rapid and efficient emergency response mechanisms. Future Market Insights’ analysis underscores the industry’s pivotal role in addressing these challenges and providing life-saving assistance where it is needed most.
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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 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.
Emergency Medical Services Market 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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Emergency Medical Services Market 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 Segments Covered in Emergency Medical Services Market 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
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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 clients face 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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