Overview and Scope
Healthcare transportation services are specialized transportation services designed to assist individuals in accessing necessary medical care when they cannot use conventional transportation. These services offer patients various benefits, such as cheap emergency transportation, access to crucial medical equipment, accessibility and convenience, and a high safety level. The services are designed to provide greater safety for patients, especially those who are elderly or disabled.
Sizing and Forecast
The healthcare transportation service market size has grown strongly in recent years. It will grow from $97.21 billion in 2023 to $103.25 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to economic factors and insurance coverage, emphasis on patient experience and comfort, shift towards value-based care models, rise in chronic diseases, urbanization and population density..
The healthcare transportation service market size is expected to see strong growth in the next few years. It will grow to $132.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to demand for specialized vehicles, expansion of telehealth services, personalized patient-centric services, rise in chronic conditions, focus on environmental sustainability.. Major trends in the forecast period include adaptation to demographic changes, integration of value-based care, diversification of service offerings, community health initiatives, environmental sustainability initiatives..
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Segmentation & Regional Insights
The healthcare transportation service market covered in this report is segmented –
1) By Type: Medical Product, Patient Transport, Incubator Transport, Mobile Treatment Facilities, Non-Medical Transport
2) By Mode Of Transportation: Air Transport, Water Transport, Ground Transport
3) By End User: Hospitals, Private Paying Customers, Nursing Care Facilities, Medical Centers
North America was the largest region in the healthcare transportation service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare transportation service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increase in accidents is expected to propel the growth of the healthcare transportation service market going forward. An accident is an unexpected and unintentional event or occurrence that causes harm, damage, injury, or loss of life. Healthcare transportation plays a critical role in accidents by providing timely and specialized transportation services to meet the medical needs of accident victims. For instance, in August 2022, according to the National Highway Traffic Safety Administration, a US-based federal agency for transportation safety, in the first quarter of 2022, there were approximately 9,560 fatalities resulting from motor vehicle crashes in the United States, a 7% increase compared to the projected 8,935 deaths in the first quarter of 2021. Moreover, the fatality rate for the first quarter of 2022 increased to 1.27 fatalities per 100 million vehicle miles traveled, up from the projected rate of 1.25 fatalities per 100 million vehicle miles in the first quarter of 2021. Therefore, the increase in accidents will drive the growth of the healthcare transportation service market.
Key Industry Players
Major companies operating in the healthcare transportation service market report are Centene Corporation, Molina Healthcare Inc., DHL International GmbH, ARAMARK Holdings Corp., Lyft Healthcare Inc., ModivCare Solutions LLC, Piedmont Healthcare Inc., Air Methods Corporation, FirstGroup plc, Blue Star Ltd., Air Medical Group Holdings Inc., Crothall Healthcare Inc., Medical Transportation Management Inc., ProHealth Care Inc., Superior Air-Ground Ambulance Service Inc., ProTransport-1, ATS Healthcare Ltd., Patriot Transportation Holding Inc., Medspeed LLC , SCR Medical Transportation Inc., Acadian Ambulance Service Inc., Ziqitza Healthcare Limited, Medi-Trans Inc., Watts Healthcare Corporation, Midwest Medical Transport Company Llc, Veyo LLC, Ride RoundTrip Inc., Goodfaith Medical Transportation Company Inc., Hope Medical Transport and Training LLC., WellMed Medical Management Inc.
The healthcare transportation service market report table of contents includes:
1. Executive Summary
2. Healthcare Transportation Service Market Characteristics
3. Healthcare Transportation Service Market Trends And Strategies
4. Healthcare Transportation Service Market – Macro Economic Scenario
5. Global Healthcare Transportation Service Market Size and Growth
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32. Global Healthcare Transportation Service Market Competitive Benchmarking
33. Global Healthcare Transportation Service Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Healthcare Transportation Service Market
35. Healthcare Transportation Service Market Future Outlook and Potential Analysis
36. Appendix
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