Healthcare Transportation Service Global Market Report 2024

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 increase observed in the historical period can be attributed to economic factors and insurance coverage, a heightened emphasis on patient experience and comfort, a shift towards value-based care models, an increase in the prevalence of chronic diseases, and the trends of 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 anticipated growth in the forecast period can be attributed to the demand for specialized vehicles, the expansion of telehealth services, the provision of personalized patient-centric services, the increasing prevalence of chronic conditions, and a growing focus on environmental sustainability. Major trends expected in the forecast period involve adapting to demographic changes, integrating value-based care, diversifying service offerings, implementing community health initiatives, and promoting environmental sustainability initiatives.

The anticipated rise in accidents is poised to drive the expansion of the healthcare transportation service market. Accidents, characterized by unexpected events causing harm or injury, necessitate specialized and timely transportation services for the medical needs of victims. In the first quarter of 2022, the National Highway Traffic Safety Administration reported a 7% increase in fatalities from motor vehicle crashes in the United States compared to the same period in 2021. This rise in accidents, evident in the increased fatality rate, is expected to propel the growth of the healthcare transportation service market.

The increasing number of medical appointments is expected to be a key factor driving the growth of the healthcare transportation service market. Medical appointments, crucial for receiving healthcare services, play a pivotal role in the demand for specialized transportation services. In 2022, 37.7% of all general practice appointments were scheduled, compared to 10% in early 2020, as reported by the National Library of Medicine. This surge in medical appointments underscores the growing need for efficient and timely healthcare transportation services, thereby contributing to the market's growth.

The healthcare transportation service market faces challenges due to limitations posed by vehicle maintenance and associated costs. Maintaining specialized medical transport vehicles incurs significant financial resources, leading to budgetary strain for service providers. The average cost of maintenance and repairs for a wheelchair-accessible van, as estimated by FinModelsLab, ranges from $1,200 to $1,500 per year. These high costs and potential service disruptions during vehicle maintenance present obstacles to ensuring safe and timely patient transportation, hindering the market's growth and operational efficiency.

Major companies in the healthcare transportation service market are adopting innovative strategies, such as the development of AI-powered applications such as DocGo On-Demand. These applications leverage artificial intelligence to enhance efficiency, safety, and the overall patient experience. DocGo Inc. launched DocGo On-Demand in November 2022, offering on-demand medical care to patients in their homes using AI-powered technology. This application, part of the Ambulnz by DocGo Web Requestor platform, enables users to book urgent care house calls, providing convenient and high-quality healthcare services.

In November 2021, Andlauer Healthcare Group (AHG) acquired Boyle Transportation for $80 million. This acquisition positions AHG Group to provide enhanced transportation services to the life sciences sector and various healthcare manufacturers. Boyle Transportation, a specialized logistics provider in the USA, contributes to the expansion of healthcare transportation services for clients.

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.

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 The countries covered in the healthcare transportation service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The healthcare transportation service market includes revenues earned by entities by providing services such as stretcher transportation, wheelchair transportation, ambulance transportation, and long-distance healthcare transportation services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The primary types of healthcare transportation services include medical product transport, patient transport, incubator transport, mobile treatment facilities, and non-medical transport. Medical product transport involves the movement of items, substances, or devices specifically designed for medical diagnosis, treatment, or prevention of diseases and medical conditions. Various modes of transportation, including air transport, water transport, and ground transport, cater to end-users such as hospitals, private paying customers, nursing care facilities, and medical centers.

The healthcare transportation service market research report is one of a series of new reports that provides healthcare transportation service market statistics, including healthcare transportation service industry global market size, regional shares, competitors with a healthcare transportation service market share, detailed healthcare transportation service market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare transportation service industry. This healthcare transportation service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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