Categories: Market Research

Healthcare Transportation Service Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Healthcare Transportation Service Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s 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 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..

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.

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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

Major companies operating in the healthcare transportation service market are developing innovative AI-powered applications such as DocGo On-Demand to increase their profitability in the market. AI-powered technology is applied to healthcare transportation services to enhance efficiency, safety, and patient experience. For instance, in November 2022, DocGo Inc., a US-based home healthcare service company, launched an application called DocGo On-Demand using AI-powered technology. DocGo On-Demand is a mobile health service that provides on-demand medical care to patients in their homes or other locations. The application is accessible to registered users of the Ambulnz by DocGo Web Requestor platform, allowing users to book urgent care house calls, making high-quality healthcare conveniently accessible.

The healthcare transportation service market report table of contents includes: