Insights into the Future Growth Potential of the Patient Transport Services Market 2024-2033
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What is the Expected Expansion Rate of the Patient Transport Services Market in the 2024-2033 Forecast?
The market for patient transport services has witnessed swift growth in the past few years. Its size is slated to expand from $36.37 billion in 2023 to $40.07 billion in 2024, indicating a Compound Annual Growth Rate (CAGR) of 10.2%. Factors contributing to this historic period growth include demographic changes, difficulties in accessing healthcare, the incorporation of emergency medical services (ems), government policies related to healthcare, and collaborations with healthcare providers.
The market size of patient transport services is projected to experience swift expansion in the coming years, rising to an estimated value of $59.5 billion in 2028, with a Compound Annual Growth Rate (CAGR) of 10.4%. The growth anticipated in this timeline can be ascribed to aspects such as telehealth, remote monitoring, population health governance, bespoke transport solutions, domiciliary care, and preparedness for global health events. Foreseen trends for this period include the integration of telemedicine, modernization of the fleet, community-based offerings, personalized patient assistance, and logistics powered by data.
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What Factors Are Catalyzing the Growth of the patient transport services Market?
The anticipated increase in road mishaps is predicted to boost the expansion of the patient transport services market. The term ‘road accidents’ alludes to any event that involves a minimum of one vehicle on a public road, leading to personal injury or fatality of at least one person. These accidents necessitate emergency medical transit for injuries or medical conditions that are not immediately life-threatening but need quick medical intervention at a hospital. Medical transportation is also required for those needing continuous care or rehabilitation because of the injuries from the accident. For example, National Highway Traffic Safety Administration, a U.S. federal government agency part of the Department of Transportation, reported that approximately 20,175 people died in on-road car accidents in the first half of 2022 in the United States, marking a 0.5% increase from the previous year. Additionally, the number of fatalities on American roads in 2019 was 42,915, representing a staggering 10.5% increase from 2020. Hence, the escalating number of road accidents is contributing to the enhancement of the patient transport services market.
Which Segments Are Important in the Patient Transport Services Market Landscape?
1) By Transport Vehicle: Ground Ambulance, Air Ambulance, Water Ambulance
2) By Equipment Type: Advanced Life Support (ALS) Patient Transport Service, Basic Life Support (ALS) Patient Transport Service
3) By Application: Emergency, Non-Emergency
4) By End-Users: Hospitals, Medical Centers, Retirement Communities, Hospice Care Facilities, Private Paying Customers, Nursing Care Facilities
What Are the Groundbreaking Trends in the Patient Transport Services Market?
Leading firms in the patient transport services market are increasingly focusing on product innovation as a cornerstone strategy to maintain their market standing. A prime example is Technimount Medical, an emergency medical services provider based in Canada, which introduced its new Technimount’s THS product range, the Techni-Track, and Techni-Clamp, in June 2022. The Techni-Track boasts of a Descending technology that eases the adjustment and swapping of accessories, enabling more straightforward height adaptation and IV bag fitting and removal. Additionally, the Techni-Clamp facilitates swift mounting of pumps and other medical equipment.
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What Are the Key Regions Powering Growth in the Patient Transport Services Market?
North America was the largest region in the patient transport services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the patient transport services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Patient Transport Services Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the patient transport services market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Patient Transport Services Market Include
1. Patient Transport Services Market Executive Summary
2. Patient Transport Services Market Segments
3. Patient Transport Services Market Size And Template Market Growth Rate
4. Key Patient Transport Services Market Trends
5. Major Patient Transport Services Market Drivers
……
25. Key Mergers And Acquisitions In The Patient Transport Services Market
26. Top Patient Transport Services Companies
27. Patient Transport Services Market Opportunities And Strategies
28. Patient Transport Services Market, Conclusions And Recommendations
29. Appendix
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