U.S. Ambulance Services Market - Focused Insights 2024-2029

The Ambulance Service market in the United States is experiencing significant growth, with its value projected to increase from $17.82 billion in 2023 to $32.19 billion by 2029, at a CAGR of 10.36%. This growth is driven by several factors, including an aging population, rising healthcare expenditure, and an increase in chronic diseases such as diabetes, obesity, and coronary artery diseases.

In 2023, the Advanced Life Support (ALS) segment dominated the market with a 68.85% share and is expected to continue its growth due to the rising need for advanced medical care during transportation. The Ground Ambulances segment, making up 48.70% of the market, is also growing steadily, offering a more affordable option than air ambulances.

The Emergency Services segment leads the market with a 77.47% share, primarily serving the elderly more prone to serious health conditions. Geographically, the Metropolitan Statistical Areas are the largest market segment, holding a 76.79% share in 2023, and are expected to grow due to the higher elderly population and disease prevalence in these areas.

The demand for ambulance services is fueled by increasing incidents of chronic diseases and road accidents. For example, the CDC reports that annually, over 795,000 people in the U.S. suffer from strokes, and around 3.4 million have epilepsy. Basic Life Support (BLS) services, accounting for 48.5% of ground ambulance claims in 2020, cater to patients who do not require advanced cardiac monitoring or respiratory interventions.

The Smart Ambulance, equipped with real-time connectivity, GPS, RFID technology, and compatibility with hospital equipment, represents the future of ambulance services, offering more efficient and accurate medical assistance.

The US ambulance services market is highly fragmented, with key players like Air Medical Group Holdings, Rural/Metro Corp, Medstar Ambulance, Acadian Medical Response, and AirEvac leading the market. These companies are investing in advanced technologies and expanding geographically to improve service delivery and response times.

In conclusion, the US Ambulance Service market is rapidly growing due to the increasing demand for emergency medical services, technological advancements, and the aging population. The market is competitive, with companies continuously innovating and expanding to meet the growing needs.

Key Highlights:

• In the US, the Ambulance Service market was valued at $17.82 billion in 2023 and is expected to reach $32.19 billion by 2029, growing at a CAGR of 10.36%.
• In the US, the demand for the Ambulance Service market is rising due to multiple factors, including the rising baby boomers, the aging population, and increased healthcare expenditure.
• In 2023, the advanced life support segment dominated the Ambulance Service market with a whopping 68.85% occupancy and is expected to grow at a CAGR of 10.64% during the forecast period as there is an increased need for advanced life support ambulances across the US.
• In 2023, ground ambulances by mode of transport are contributing 48.70% of the Ambulance Service and are expected to grow at a CAGR of 9.98% during the forecast period since most people are likely to opt for ground ambulance services as the cost for air ambulances is bit higher.
• In 2023, the emergency services segment dominated the market with 77.47% and is expected to grow at a CAGR of 10.54%, as most people in the US opting for ambulance services are aged and prone to serious health conditions.
• In 2023, the metropolitan statistical areas dominated the market by occupying 76.79% of the market share and are expected to grow at a CAGR of 10.48% during the forecast period due to a significant increase in the percentage of the elderly population in this region.
• The revenue generated from ambulance services in the US is rising steadily. Diabetes, an increasing aging population, obesity, other chronic diseases, and road accidents are key factors that contribute to the rising demand in the US. For instance, in 2018, there were approximately 52 million people aged 65 and above, which is projected to become about 95 million by 2060 in the US. As the elderly are more prone to diseases, it is expected that the need for ambulance services will be even more during the forecast period.