Newark, Aug. 02, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global emergency ambulance vehicle market is expected to grow from USD 25.21 billion in 2021 to USD 34.17 billion by 2030, at a CAGR of 3.44% during the forecast period 2022-2030.
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An increase in the number of people suffering from acute diseases has been linked to increased hours spent in front of laptops and mobile devices, a sedentary lifestyle, lack of physical activity, and an unhealthy diet. Cardiovascular illnesses, particularly cardiac arrests, are becoming more common as the older population grows. Acute diseases are life-threatening if not treated promptly due to their abrupt and short-term nature. As a result, the rising frequency of acute disorders in persons will drive the market for emergency ambulance vehicles. Accidents are one of the most common causes of death worldwide. In developing economies, rash driving, drinking and driving, and inadequate enforcement of traffic rules and regulations have resulted in an exponential growth in the number of accidents and premature deaths of citizens. Patients' lives can be saved by the prompt response and primary patient care at the scene of an accident before they receive proper treatment in hospitals. Emergency ambulance vehicles serve a critical role in early patient care and transportation, and their use will increase as the number of accidents and trauma cases rises worldwide. Technological advancements in the EAV market will provide lucrative opportunities for industry players. Government regulations mandating the maintenance of 24/7 emergency ambulance services by healthcare institutions will also offer market opportunities during the forecast period. However, the high cost of manufacturing and care will hamper the growth of the EAV market. Also, the lack of awareness of EAVs in developing and under-developed economies can challenge the market's growth. Increased government expenditure on healthcare infrastructure can counter the challenges and expand the EAV market.
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Competitive Strategy
To enhance their market position in the global emergency ambulance vehicle market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• Karnataka, India, started the country's first integrated air ambulance service in September 2020, in partnership with the International Critical Air Transfer Team (ICATT) and the Kyathi.
Market Growth & Trends
The global emergency ambulance vehicle market will be driven by an increase in the frequency of cardiovascular illnesses, a growing elderly population, and an increase in the number of accidents and trauma cases. The emergency ambulance vehicle market will be driven by product advancements, higher government expenditure on healthcare infrastructure, and improved knowledge about the accessibility of emergency ambulance vehicles. Advanced life support (ALS) ambulance services can efficiently handle the rising accidents and trauma cases, facilitating their adoption in developing and underdeveloped countries to save citizen lives. Road conditions, inappropriate signage, irresponsible driving, speeding, and drunk driving have increased road accidents worldwide. Due to a lack of preventative and curative measures, industrial accidents and natural disasters are also rising. The demand for emergency ambulance vehicles will increase as traffic accidents, trauma situations, and natural disasters grow.
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Key Findings
• In 2021, the hospitals' navigation systems segment dominated the market with the largest market share of 62% and market revenue of 15.63 billion.
The application segment is divided into hospitals, emergency centers, & others. In 2021, the hospitals segment dominated the market with the largest market share of 62% and market revenue of 15.63 billion.
• The vans segment is expected to grow at the fastest CAGR of 4.5% over the forecast period.
The vehicle type segment is divided into motorcycles, cars, vans, & others. Over the forecast period, the vans segment is expected to grow at the fastest CAGR of 4.5%.
• In 2021, the advanced life supports (ALS) ambulance services segment accounted for the largest share of the market, with 61% and a market revenue of 15.37 billion.
The equipment segment includes basic life support (BLS) and advanced life support (ALS) ambulance services. In 2021, the advanced life support (ALS) ambulance services segment accounted for the largest share of the market, with 61% and a market revenue of 15.37 billion.
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Regional Segment Analysis of the Emergency Ambulance Vehicle Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the North American region emerged as the largest market for the global emergency ambulance vehicle market, with a market share of around 37.60% and 9.47 billion of the market revenue in 2021. The Asia Pacific is expected to be the largest market during the forecast period. The emergency ambulance vehicle market in the Asia Pacific has been expanding rapidly. China dominates the emergency ambulance vehicle market in the Asia Pacific. According to the world aging population report of 2019 published by the United Nations, 703 million people are aged 60 and above globally. This figure is estimated to reach 1.5 billion by 2050. The prevalence of cardiovascular, respiratory & other acute diseases is high in the geriatric population. China has a significant share of the global aging population owing to the one-child policy in the past decades. The emergency medical response is often the most critical stage while saving a patient’s life with cardiac arrest or any other acute disease, thereby increasing the demand for emergency ambulance vehicles. Technological advancements have equipped emergency ambulance vehicles with sophisticated equipment, devices, and life-saving drugs that are critical for early patient care, which will propel the market's growth. Also, increasing accessibility to emergency ambulance vehicles must become a priority for all relevant institutions.
Key players operating in the global emergency ambulance vehicle market are:
• Ford Motor Company
• Toyota Motor Corporation
• Leader Ambulance
• BAUS AT
• Life Line Emergency Vehicles
• REV Group
• Daimler AG
• Groupe Renault
• W.A.S. Ambulance
• MAN
This study forecasts global, regional, and country revenue from 2019 to 2030. The Brainy Insights has segmented the global emergency ambulance vehicle market based on the below-mentioned segments:
Global Emergency Ambulance Vehicle Market by Application:
• Hospitals
• Emergency Centers
• Others
Global Emergency Ambulance Vehicle Market by Vehicle Type:
• Motorcycles
• Cars
• Vans
• Others
Global Emergency Ambulance Vehicle Market by Equipment:
• Basic Life Support (BLS) Ambulance Services
• Advanced Life Support (ALS) Ambulance Services
About the report:
The global emergency ambulance vehicle market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
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