DUBLIN–(BUSINESS WIRE)–The “EMS (Emergency Medical Services) Vehicles Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030” report has been added to ResearchAndMarkets.com’s offering.
The market for emergency ambulance vehicles is expected to grow at a CAGR of 10% during the forecast period of 2022 to 2030
The high need for emergency care, rising rates of trauma injuries, and rising government spending on the construction of healthcare infrastructure are the main drivers of market expansion. The rise in traumatic accidents, the number of persons with various chronic diseases, and the ageing population have all contributed to an increase in the demand for ambulance services.
Over the course of the projected period, it is also anticipated that the rise in medical tourism and the availability of reimbursement schemes will increase demand for ambulance services. It is anticipated that the steady rise in traumatic accidents will drive market expansion. For instance, the National Health Portal estimates that death of 5 million individuals occurs each year due to injuries.
Increasing Prevalence and Incidence of Cardiovascular Diseases
Congestive heart failure, coronary artery disease, cardiac arrest, and stroke, among other cardiovascular illnesses (CVDs), are on the rise and are accelerating the demand for emergency medical services. According to the British Heart Foundation, one person has a heart attack every three minutes, or about 200,000 hospital visits per year.
Additionally, it stated that 40,000 deaths from stroke are anticipated to occur annually in the United Kingdom. Because CVD is one of the top causes of death worldwide and frequently necessitates urgent medical attention, the demand for ambulance services rises. Therefore, it is anticipated that the increasing prevalence of cardiovascular disorders will support market expansion.
A significant portion of the population over the age of 60, who often have a reduced immunity level and are more susceptible to neurological disorders, cardiac issues, cancer, and spinal injuries, is also anticipated to have a strong impact on the market’s growth over the projected period.
Increasing Geriatric Population
The elderly are more vulnerable to cancer, neurological illnesses, spine injuries, and cardiac issues. For instance, the Department of Economic and Social Affairs of the United Nations projects that by 2050, about 1 in 6 of the world’s population would be over 65. Additionally, according to a comparable source, there were 703 million persons over 65 in the world.
Therefore, the market is projected to expand as a result of the growing elderly population. Due to improvements in healthcare infrastructure and sophisticated reimbursement practises, medical tourism is also on the rise.
Increasing Investments in Global Emergency Medical Services
In order to offer patients with quick medical assistance, healthcare and medical regulatory agencies around the world are increasing investments in structured emergency medical services. Healthcare companies are deploying the required services and equipment to better meet the needs of patients since patient convenience and quick, prompt services are the primary goals of emergency medical services.
EMS vehicles, which are becoming more and more common in hospitals and other medical institutions around the world, are one of the essential parts of emergency medical services.
Emergency medical services are receiving the essential financial help from organisations like the World Bank in some areas. The global EMS vehicles market is experiencing revenue growth as a result of the increasing reliance on emergency medical services to assist critical treatment.
Medical Tourism
Because of improvements in healthcare infrastructure and sophisticated reimbursement practises, medical tourism is expanding. Additionally, the market for emergency ambulance vehicles is positively impacted by improvements in healthcare infrastructure, a strong demand for extended care delivery, and a rise in healthcare spending.
In addition, according to the Indian Consulate General, India has recently risen to become one of the world’s top 6 destinations for medical tourism. Ambulance services may be needed in the trip destination to transfer patients to their location of treatment as a result of the increase of medical tourism. This should accelerate market expansion.
Increasing Vehicle Pricing to Moderately Restrain the Market Growth
The pricing structure of EMS vehicles is influenced by a variety of important elements, despite the fact that EMS vehicles are produced in enormous quantities to meet the expanding demands from the worldwide healthcare business. In the past ten years, producer price indices for essential raw materials such as plastic, aluminium, rolled steel, and resins have risen, and it is projected that this would have a cascading effect on the cost of EMS vehicles.
However, the adoption of cutting-edge technology in the automotive industry may have an impact on how much cars and other vehicles, such EMS vehicles, cost. Modern medical technology installed in EMS cars raises expenses, and since healthcare organisations are focusing on customising their EMS vehicles, the cost per EMS vehicle is anticipated to continue climbing in the years to come.
Another factor in pricing is regulatory compliance. The international legislation governing motor vehicle safety, as well as the national traffic authorities’ regulations, must be complied with the manufacturers of EMS vehicles. These strict requirements compel manufacturers to maintain the EMS vehicle pricing structure at a high market level. Therefore, it is anticipated that the high cost of the vehicles will restrain market expansion during the forecast period of 2022-2030.
Opportunities to Widen with Increasing Investment in Healthcare Infrastructure
Additionally, the market players will benefit from growing customization demands for emergency ambulance vehicles that incorporate cutting-edge functionalities during the projected period of 2022 to 2030. The growth rate of the market for emergency ambulance vehicles will also be increased in the future by an increase in investments.
By allowing paramedical staff to concentrate on providing essential treatment without losing time, the new trend of driverless emergency medical services vehicles can improve the chances of life for victims and patients. Another change that is thought to present a sizable opportunity for the global market for emergency medical services vehicles is the use of drones to transport medical supplies.
Market to Remain Fragmented with Extreme Level of Competition During the Forecast Period
The market for emergency medical services (EMS) vehicles is extremely fragmented, with leading manufacturers present everywhere.
Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
Scope of the Report
Companies Mentioned
By EMS Vehicle Type (2020-2030; US$ Mn)
By Application (2020-2030; US$ Mn)
By Medical Equipment/Devices (2020-2030; US$ Mn)
By End User(2020-2030; US$ Mn)
Region Segment (2020-2030; US$ Mn)
Global Impact of Covid-19 Segment (2020-2021; US$ Mn )
For more information about this report visit https://www.researchandmarkets.com/r/t5yqzk
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ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
