Facts & Factors Market Research has published a new report titled “Medical Transport Services Market By Type (Mobile Treatment Facilities, Medical Products Transport, Incubator Transport, and Patient Transport) and By End-User (Hospitals, Medical Centers, Private Paying Customers, and Nursing Care Facilities): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”. According to the report, the global Medical Transport Services market is predicted to be valued at approximately USD 9,187 million in 2018 and is expected to reach a value of around USD 26,137 million by 2027, at a CAGR of around 12.2% between 2019 and 2027.
Medical transport services mean the transporting of patients as well as medical items. These services ensure the safe & timely transfer of medical items and patients from a location to the destination.
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Growing healthcare issues needing medical attention will drive the business growth
The rise in the number of emergency clinics and an increase in the number of patients requiring medical emergency services across the globe will steer the growth of medical transport services over the forecast period. In addition to this, the growing requirement of ambulances for the patients belong to different age groups ranging from children to aging patient population will offer new growth avenues for the market over the forecast period.
Moreover, an increase in the number of physically disabled patient population bases in the developed countries like the U.S. will further amplify the growth graph of the market over the forecast timeframe. Additionally, a huge demand for enhanced patient care and rapidly improving healthcare amenities will benefit the medical transport services market expansion over the period from 2019 to 2027.
Furthermore, modernization of the healthcare transport facilities will prop up the market surge during the forecast timeline. However, the high maintenance cost of transport vehicles along with low investment for medical transport will inhibit the market progression over the 2019-2027 timespan. Nevertheless, the launching of air ambulance services in emerging economies will provide new growth opportunities for the market. In addition to this, the massive awareness pertaining to the use of drones in the healthcare or the medical sector will further boost the market growth over the forecast timeline.
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Medical products transport to dominate the type segment by 2027 in terms of value
The growth of the segment during the forecast period is due to a rise in the demand for the transportation of medical items like over the counter drugs, medical equipment, pharmaceutical drugs, and medicines for treating various kinds of diseases.
Hospitals to be the leading end-user segment over the forecast timeline
The segmental growth during the time interval from 2019 to 2027 is due to a high demand for patient transport to hospitals via ambulance during both emergencies as well as non-emergency situations.
North America to contribute a major revenue share of the market during the forecast period
The regional market growth during the forecast period is attributed to the presence of advanced medical facilities aided by technological breakthroughs and government funding of the medical transport services in countries like the U.S. and Canada. Apart from this, the huge presence of the reputed market players & high adoption, as well as enforcement of medical transport services in the region, will further drive the industry growth in North America.
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Furthermore, North America possesses very huge medical transport services network for the hospital use for transporting patients to clinics both in case of emergency and non-emergency, thereby driving the regional market growth.
Some of the key participants in the business include DHL International GmbH, ERS Transition Ltd., Healthcare Transportation, LLC, Piedmont Healthcare, Mobile Care Group Inc., Watts Healthcare Corporation, Crothall Healthcare, MTM Inc., Molina Healthcare, Aramark, MEDSPEED, ATS Healthcare, ProHealth Care, LogistiCare Solutions, LLC, and American Medical Response, Inc.
This report segments the Medical Transport Services market as follows:
Medical Transport Services Market: By Type Analysis
- Mobile Treatment Facilities
- Medical Products Transport
- Incubator Transport
- Patient Transport
Medical Transport Services Market: By End-User Analysis
- Medical Centers
- Private Paying Customers
- Nursing Care Facilities
Medical Transport Services Market: By Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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