Patient Transport Services Market to Witness Exponential Growth at 12% CAGR, Surpassing US$117.1 Billion by 2032 | Says FMI

According to the newly released patient transport services market analysis report from Future Market Insights, global sales of the Patient Transport Services Market in 2021 will be US$ 34.1 Billion. The projected market growth of 12% between 2022 and 2032 is significantly higher than historical growth. Ground Ambulance is expected to be the highest revenue-generating Transport Vehicle between 2022 and 2032, with a CAGR of more than 13.1%.

The use of emergency medical transportation systems is extremely beneficial in situations involving severe patient trauma or a related adverse outcome. Patients in need of care and transfer to an emergency medical facility can be addressed immediately by allocating resourceful equipment planning and structure.

Because of efficiency in the management of critical care and long-term care patients in mobility, positioning, and transfer, sales in the market are expected to grow. Apart from that, chronically ill patients are given alternatives for transportation to and from medical facilities. These instances are provisional, based on reimbursements for patient transportation equipment capabilities, as 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 which 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 an FMI analyst. 

Key Takeaways:

• Based on application, the 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 hospitals 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.

Competition Landscape 

Key players operating in the global patient transportation market are improve 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 personalised 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 manoeuvrability, 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.

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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

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 Patient Transport Services Market 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

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 stands as 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 vast 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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