Patient Transportation Market Size, Share, Growth, And Industry Analysis, By Type (Emergency and Non-Emergency), By Application (Hospitals, Medical Centers, Retirement Communities and Others), and Regional Forecast To 2032

Patient Transportation Market Report Overview

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The global patient transportation market size expanded rapidly in 2023 & the market is expected to generate substantial revenue by 2032, exhibiting a high CAGR during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the patient transportation market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels once the pandemic is over.

In non-emergency scenarios, patients are transported to and from healthcare centers via a service called patient transportation. In an emergency, emergency medical services will evacuate patients. The same organization may occasionally handle non-emergency patient travel. It is often given to patients who need to be moved to a facility that can provide an additional or more skilled level of treatment, though if this is necessary, emergency services may be called. When a patient no longer needs the specialized care, such as after a successful cardiac catheterization due to a heart attack, it may also be used to relocate them from the specialized institution to a nearby nursing home or hospital. Patients who are unable to travel independently to or from the clinic are also provided with the service in some nations.

The market for patient transportation is expanding as a result of a number of causes, including the rising need for emergency medical services, an aging population, and improvements in medical transportation technologies. The market for transportation has also grown as a result of the rise in medical tourism, which involves patients traveling for medical care. The demand for specialist medical transportation services has also increased due to the need for safe and effective transportation, particularly for those with serious medical problems. The development of the patient transit business has also been aided by government programmes and financing intended to boost healthcare services and infrastructure.

COVID-19 Impact: Decline in Demand due to the Limitations on Non-Medical Visits

The patient transportation industry has been greatly impacted by the COVID-19 outbreak. While there has been an increase in the demand for emergency medical transportation services during the pandemic, there has been a decline in this demand as a result of limitations on non-urgent medical visits and operations. In an effort to stop the virus from spreading, many hospitals and healthcare facilities had also placed restrictions on visitors, including non-emergency transportation providers. The pandemic also made it harder for companies who provide transportation to ensure the security of both patients and medical staff. To stop the virus from spreading during transportation, providers had to put new procedures and safeguards in place.

Latest Trends

"Integration of Services Intended Specifically to Serve Patients' Needs"

The merging of transportation services with other medical care services, such as telemedicine and remote patient monitoring, is one of the most recent trends in the market for patient transportation. So, there is no longer a requirement for patients to physically travel to medical facilities in order to receive treatment or consultations. Integrated services that are tailored to the unique requirements of patients with chronic medical problems or impairments are being offered by patient transit providers in collaboration with healthcare institutions.

Patient Transportation Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Emergency and Non-Emergency

• By Application Analysis

Based on application, the market can be divided into Hospitals, Medical Centers, Retirement Communities and Others

Driving Factors

"Increasing Need for Emergency Services has Contributed to an Increase in Demand for the Transportation Market"

Demand for emergency medical services has increased as a result of an increase in the frequency of accidents, chronic diseases, and natural catastrophes. The necessity to transfer patients swiftly and safely to a medical facility is common when they need urgent medical care. Due to this, the market for emergency medical services—which includes ambulance services, airborne medical transport, and other specialty medical transportation services—has grown. In turn, this has led to a large rise in the need for patient transportation services, which is fueling the market's expansion.

"Transportation Sector is Affected by an Increase in the Elderly Population"

Another key aspect influencing the patient transportation is the aging population. In order to get older patients to medical visits, hospitals, and long-term care institutions, there is a growing need for medical transportation services as the population ages. Furthermore, senior individuals frequently have a number of medical issues and demand extra care during transportation. As a result, services that are expressly designed to meet the needs of older patients have emerged, including non-emergency medical transportation and medical escort services. The patient market has grown, and this development is anticipated to continue in the years to come.

Restraining Factors

"High Rates of Transportation Services Might Hinder the Market Expansion"

The high cost of transportation services is one of the reasons restricting the patient transportation market growth. Many medical transportation services, especially non-emergency medical transportation, can be pricey and may not be insured. Some patients may find it challenging to get the transportation services they require as a result, especially those who lack insurance or have inadequate insurance. The high cost of patient services can also prevent novel and creative mobility options from being adopted, especially in settings with limited resources. The growth and extension of the transportation business may be hampered by this, especially in emerging nations or rural areas with a dearth of healthcare facilities and resources.

Patient Transportation Market Regional Insights

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"Well-Developed Healthcare Infrastructure in the Region is Driving the North American Market"

The patient transportation market share was dominated by North America for a variety of reasons. To begin with, the area boasts a well-developed healthcare infrastructure with cutting-edge medical facilities, tools, and employees. As a result, there is a strong need for medical transportation services, especially emergency medical transportation, as patients need to be transported quickly and effectively to medical institutions. The market has expanded as a result of the aging population in North America and the frequent need for specialized medical transportation services among older patients to reach healthcare institutions. The presence of major market participants in the area has also contributed to the expansion of the North American transportation market. These businesses hold a sizable portion of the market and provide a variety of patient services, such as non-emergency medical transportation and emergency medical transportation, among many others.

Key Industry Players

"Key Players Focus on Mergers and Acquisitions to Gain a Competitive Advantage"

Businesses that operate in the patient transportation industry put numerous organic advances into practice that result in dynamic market improvements. Product launches and product development are just two instances of organic growth techniques that drive market expansion. Several businesses are putting a variety of inorganic methods, namely collaborations and acquisitions and mergers, into practice.

LIST OF TOP PATIENT TRANSPORTATION COMPANIES

• National Medtrans Network (U.S.)
• Falck A/S (Denmark)
• Air Methods Corporation (U.S.)
• Envision Healthcare Corporation (U.S.)
• Acadian (U.S.)
• NSL Limited (Singapore)
• Airmed International LLC (U.S.)
• Airpal, Inc. (U.S.)

Report Coverage

This report covers the patient transportation market. The CAGR expected to be in during the forecast period, and also the USD value in 2021 and what it is expected to be in 2031. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.