Dublin, Aug. 08, 2023 (GLOBE NEWSWIRE) -- The "Global Non-Emergency Medical Transportation Market Forecast to 2028 - Analysis by Service Type and Application" report has been added to ResearchAndMarkets.com's offering.
The global non-emergency medical transportation (NEMT) market is projected to witness significant growth and is estimated to reach $15.58 billion by 2028, with a compound annual growth rate (CAGR) of 9.0% during the forecast period from 2022 to 2028.
The market growth is attributed to the growing need for NEMT services, the rising incidence of chronic diseases, and the increasing geriatric population. However, certain factors, such as lack of efficient oversight systems, rise in fraud by NEMT companies, and lack of transportation services in rural areas, hinder the market growth.
Key Growth Drivers
- Growing Need for Non-Emergency Medical Transportation: The demand for NEMT services is on the rise as patients and healthcare consumers require transportation to medical facilities for regular appointments, check-ups, and treatments. NEMT service providers, including ambulance services, wheelchair-assisted services, stretchers, flight services, and courier services, cater to these needs.
- Rising Incidence of Chronic Diseases: The prevalence of chronic diseases is increasing, necessitating regular healthcare visits and check-ups. NEMT services play a crucial role in providing patients with access to medical facilities and specialists for the management of chronic conditions.
- Increasing Geriatric Population: With a rising aging population, the incidence of age-related chronic diseases is growing. NEMT services become essential for older adults who require transportation to medical facilities for regular healthcare visits and treatments.
Market Opportunities
- Collaboration between Various Companies and Transportation Networks: States and healthcare providers are exploring partnerships with transportation network companies (TNCs) like Uber or Lyft to enhance access to care. TNCs offer on-demand ride-hailing capabilities and easy-to-use mobile apps, resolving availability and scheduling concerns related to NEMT services.
- High Market Potential in Developing Economies: Emerging markets in developing economies, such as Asia Pacific and the Middle East & Africa, offer lucrative growth opportunities for major players to expand their business and geographic reach. The growing healthcare expenditure and awareness regarding NEMT services in these regions create notable opportunities.
Future Trends
- Growing Role of Technology in Non-Emergency Medical Transportation: Advancements in technology are expected to play a significant role in shaping the NEMT market, offering more efficient and streamlined transportation solutions to patients and healthcare consumers.
- Emergence of Ambulance Transports: Ambulance services are emerging as a crucial component of NEMT, catering to patients requiring specialized medical attention during transportation.
Competitive Landscape
Key players in the non-emergency medical transportation market include Abc Non-Emergency Medical Transportation, LLC, MTM, Inc., AMR, Xpress Transportation, CJ Medical Transportation, Southeastrans, Modivcare, Crothall Healthcare, Elite Medical Transport, and Acadian Ambulance Service.
Forecast Period
The study covers the analysis of key stakeholders and provides quantitative market estimations for each micro-market segment from 2022 to 2028, with a CAGR estimation for each segment during the forecast period.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 193 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value (USD) in 2021 | $8.65 Billion |
| Forecasted Market Value (USD) by 2028 | $15.57 Billion |
| Compound Annual Growth Rate | 9.0% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/3bosfl
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