What are the Historical Developments and Current Growth Metrics of the Healthcare Transportation Service Market?
The healthcare transportation service market has seen considerable growth due to a variety of factors.
• There has been a considerable expansion in the market size of healthcare transportation services lately. It's projected to escalate from $103.25 billion in 2024 to $109.57 billion in 2025, signifying a compound annual growth rate (CAGR) of 6.1%.
The previous growth phase can be traced back to aspects such as economic variables and insurance provisions, a focus on patient comfort and experience, a transition to value-based care, an increase in chronic diseases, urbanization, and population density.
What is the Forecasted Market Size and CAGR for the Healthcare Transportation Service Market?
The healthcare transportation service market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for healthcare transportation services is projected to experience significant growth in the upcoming years. Experts predict that it will increase to $142.36 billion by 2029 with a compound annual growth rate (CAGR) of 6.8%.
This growth during the forecast period can be linked to factors such as the increased demand for specialized vehicles, the proliferation of telehealth services, an emphasis on personalized, patient-centered services, a surge in chronic disease cases, and attention to environmental sustainability. Key trends expected during this period entail adapting to demographic shifts, integrating value-based care, expanding service offerings, promoting community health initiatives, and adopting environmentally sustainable practices.
What Key Factors and Trends Are Driving The Growth Healthcare Transportation Service Market?
The anticipated escalation in accident rates is predicted to boost the expansion of the healthcare transportation service market. Accidents, unexpected and unintentional incidents causing harm, damage, injury, or loss of life, necessitate healthcare transportation for appropriate and timely medical aid. For example, in August 2022, the National Highway Traffic Safety Administration, a US-based federal agency supervising transportation safety, reported approximately 9,560 fatalities from motor vehicle crashes in the first quarter of 2022 in the US, a rise of 7% contrasted with the 8,935 estimated fatalities in the first quarter of 2021. Furthermore, the 2022 first-quarter fatality rate increased to 1.27 fatalities per 100 million vehicle miles traveled, up from the first quarter of 2021's projected rate of 1.25 fatalities. Thus, the rising accident rates will enhance the healthcare transportation service market growth. The enlarging number of medical appointments is likely to promote the healthcare transportation service market's progress. Medical appointments, planned interactions between patients and healthcare providers for medical care, treatment, diagnosis, or consultation, are vital in healthcare transportation as they prompt multiple patient journeys thereby ensuring timely arrival at healthcare facilities. To illustrate, February 2023 data from the National Library of Medicine, a US-based medical library, reveals that 37.7% of all general practice appointments were planned in 2022, as opposed to a mere 10% of consultations in early 2020. Thus, the growth in medical appointments is propelling healthcare transportation service market enlargement.
What Are The Market Segments In The Healthcare Transportation Service Market?
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
Subsegments:
1) By Medical Product: Transportation Of Pharmaceuticals, Transportation Of Medical Devices, Transportation Of Laboratory Specimens
2) By Patient Transport: Emergency Medical Transport, Non-Emergency Patient Transport, Air Ambulance Services, Ground Ambulance Services
3) By Incubator Transport: Neonatal Transport Incubators, Pediatric Transport Incubators
4) By Mobile Treatment Facilities: Mobile Clinics, Field Hospitals, Mobile Surgical Units
5) By Non-Medical Transport: Transport Of Medical Staff, Logistics For Healthcare Facilities, Transport Of Equipment And Supplies
Pre-Book The Healthcare Transportation Service Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends Are Shaping The Healthcare Transportation Service Market?
Key players in the healthcare transportation service market, including the likes of DocGo Inc., are leveraging innovative AI-driven technologies such as DocGo On-Demand to boost their profitability. Adopting AI in the healthcare transportation segment promises to elevate efficiency, safety, and patient experience. Take for example, DocGo Inc., a prominent home healthcare service provider in the US, who, in November 2022, rolled out an AI-powered application dubbed DocGo On-Demand. This mobile health solution offers immediate healthcare services to patients within the comfort of their homes or at other designated locations. It becomes available to existing users registered on the Ambulnz by DocGo Web Requestor platform, enabling them to arrange urgent house calls for care, thus making premium healthcare services conveniently accessible.
Who Are the Key Players In The Healthcare Transportation Service Market?
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.
What Are The Regional Insights Into The Healthcare Transportation Service Market?
North America was the largest region in the healthcare transportation service market in 2024. 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
