19 December 2019
Visiongain’s new report the Ambulance & Medical Transport Market Report 2019-2029: Forecasts by Type (Medical Products Transport, Mobile Treatment Facilities, Patient Transport, Incubator Transport), by End User (Hospitals, Nursing Care Facilities, Medical Centers, Private Paying Customers), plus analysis of leading companies indicates that the global Ambulance & Medical Transport market will attain $59 billion revenue by 2029.
Global Ambulance & Medical Transport market is expected to grow on account of increasing number of medical complication in the population. The market is expected to grow at a healthy CAGR of 6.3% over the projected period. Ambulance and medical transportation relates to medical equipment that promotes patient care during medical emergencies, such as accidents and surgery, helps avoid life loss, and minimizes personal injury. Technological progress, rising incidence of accidents, and growing population ageing are some of the primary factors driving the market for ambulance and medical transport.
Transport services in the healthcare industry act as an assistance to guarantee secure and timely transfer from one place to another of patients, medications, medical equipment and test specimens. This, in turn, improves the healthcare sector's effectiveness. The segment of patient transport is expected to account for most market share and is projected to develop at a greater pace driven by increasing emphasis on enhancing the value chain in the healthcare industry.
In 2019, North America accounted for more than 35% of overall ambulance and medical transport demand and increasing prevalence of chronic diseases, growing healthcare expenditure, and advanced healthcare infrastructure in this region is expected to strengthen Ambulance & Medical Transport market concentration in North America over the projected period. Asia Pacific region is anticipated to witness fastest growth rate in the ambulance and medical transportation industry in the coming years due to growing health infrastructure, increased accident prevalence, increased disposable income, increased incidence of multiple illnesses, increased elderly population, and increased awareness of emergency medical transportation services available on the market.
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