NEW YORK, May 18, 2022 /PRNewswire/ -- As per Zion Market Research study, The U.S. Healthcare Transportation Services Market was worth around USD 15,295.6 million in 2021 and is estimated to grow to about USD 24,137.6 million by 2028, with a compound annual growth rate (CAGR) of approximately 7.9 percent over the forecast period. The report analyzes the U.S. Healthcare Transportation Services Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the U.S. Healthcare Transportation Services Market.
Key Industry Insights & Finding of the U.S. Healthcare Transportation Services Market Reports:
- As per the analysis shared by our research analyst, the U.S. Healthcare Transportation Services Market is expected to grow annually at a CAGR of around 7.9 % (2022-2028).
- Through the primary research, it was established that the U.S. Healthcare Transportation Services Market was valued approximately USD 15,295.6 Million in 2021 and is projected to reach to roughly USD 24,137.6 Million by 2028.
- In North America region the existence of cutting-edge technology also helps to provide the best healthcare transportation services to the residents.
- US healthcare transportation services market are expected to keep their competitive advantage in the industry by increasing their product offerings and investing in mergers and acquisitions.
Zion Market Research published the latest report titled as "U.S. Healthcare Transportation Services Market By Type (Medical Transportation, Incubator Transport, Mobile Treatment Facilities, Patient Transport, and Non-Medical Transportation). By End Use (Hospitals, Medical Centers, Nursing Care Facilities, and Airport Shuttle), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 - 2028" into their research database.
U.S. Healthcare Transportation Services Market: Overview
Transportation Services in the healthcare industry help to assure the safe and timely transfer of patients, medications, medical equipment, and test specimens from one site to another. As a result, the healthcare sector's efficiency improves. Healthcare transportation is a new concept that can save both patients and healthcare practitioners a significant amount of time. The growing need for speedy mobility and an improving healthcare system are the primary drivers driving the market's growth. The rising cases of SARS-CoV-2 infection, increasing pharmaceutical R&D activities, and novel medication pipelines are among the key drivers driving global pharma & healthcare company growth in recent years. Growing adoption of telehealth and telemedicine services, increased government funding for vaccine development, and the rising need for improved point-of-care diagnostics and home healthcare devices have all helped the industry's growth. Due to the expanding rates of infectious diseases, the global focus on healthcare is projected to serve additional growth prospects in the next years.
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Industry Dynamics:
U.S. Healthcare Transportation Services Market: Growth Dynamics
Drivers:
Improving healthcare systems and expanding healthcare facilities are some of the factors driving this segment's market growth. Additionally, healthcare providers are providing healthcare transportation services to patients who require non-emergency healthcare transportation to obtain various healthcare services, which is driving the growth of the U.S. Healthcare Transportation market. Growing demand for speedy transportation of samples and specimens for testing, as well as a greater emphasis on lowering logistical costs, are some of the factors driving market expansion. Furthermore, increased ride-sharing for healthcare transportation is helping to drive the expansion of the U.S. Healthcare Transportation Market.
Restraints:
The lack of investment and high maintenance costs of transportation vehicles are impeding the growth of this sector. Additionally, a lack of investment from domestic companies is limiting its market expansion during the predicted period. A significant amount of money must be spent in order to provide and improve healthcare transportation services. When even local players are afraid to invest in this area, underdeveloped economies are unable to do so. As a result, the rate of market expansion will be slowed. Furthermore, offering high-quality healthcare transportation services is a commercial problem. The limited reach of key players has a negative impact on the rate of growth.
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Global U.S. Healthcare Transportation Services Market: Segmentation
- The U.S. Healthcare Transportation Services Market is segregated based on Type, and End-Use.
By Type, the market is classified into Medical Transportation, Incubator Transport, Mobile Treatment Facilities, Patient Transport, and Non-Medical Transportation. The medical transportation market is expected to be the fastest-growing segment, during the forecast period. Medical transportation services are required for those who are in a critical or life-threatening scenario. Medical transportation services are essential for adverse Medicaid recipients, such as the elderly, disabled, and financially disadvantaged persons who are unable to get healthcare transportation services, which contributes to the growth of this industry.
By End-Use, the market is classified into Hospitals, Medical Centers, Nursing Care Facilities, and Airport Shuttle. In the forecast period, hospitals were the major end-user, accounting for almost the largest share of worldwide healthcare transportation services revenue, and are expected to rise over the projection period. This area is expected to maintain its dominance in the coming years, owing to an increase in the number of hospitals, particularly in developed countries, as well as a greater need for cost reductions and increased reach.
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List of Key Players of U.S. Healthcare Transportation Services Market:
- Logisticare Solutions LLC
- ProHealth Care Inc.
- Mercy Health Medical Transportation LLC
- Molina Healthcare Inc.
- Express Medical Transporters Inc.
- Aramark Healthcare Technologies LLC
- Crothall Healthcare Inc.
- MTM Inc.
- Acadian Ambulance Service Inc.
- Mobile Care Group Inc.
Key questions answered in this report:
- What are the growth rate forecast and market size for U.S. Healthcare Transportation Services Market?
- What are the key driving factors propelling the U.S. Healthcare Transportation Services Market forward?
- What are the most important companies in the U.S. Healthcare Transportation Services Market Industry?
- What segments does the U.S. Healthcare Transportation Services Market cover?
- How can I receive a free copy of the U.S. Healthcare Transportation Services Market sample report and company profiles?
Report Scope:
Report Attribute | Details |
Market size value in 2021 | USD 15,295.6 Million |
Revenue forecast in 2028 | USD 24,137.6 Million |
Growth Rate | CAGR of almost 7.9 % 2022-2028 |
Base Year | 2020 |
Historic Years | 2016 - 2021 |
Forecast Years | 2022 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Million), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2022 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Companies Covered | Logisticare Solutions LLC, ProHealth Care Inc., Mercy Health Medical Transportation LLC, Molina Healthcare, Inc., Express Medical Transporters, Inc., Aramark Healthcare Technologies LLC, Crothall Healthcare Inc., MTM, Inc., Acadian Ambulance Service Inc., and Mobile Care Group Inc. |
Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. https://www.zionmarketresearch.com/custom/3455 |
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Regional Dominance:
- Growth of the instrumentation market.
The market for healthcare transportation services is dominated by North America. This is owing to an increasing population in need of medical assistance, as well as the availability of high-quality healthcare provisions. The existence of cutting-edge technology also helps to provide the best healthcare transportation services to the residents of this region. The top players in the US healthcare transportation services market are expected to keep their competitive advantage in the industry by increasing their product offerings and investing in mergers and acquisitions.
Due to the increase in government spending on healthcare facilities, Asia Pacific is predicted to be the fastest expanding market. This is a critical component fueling the region's demand for innovative healthcare transportation services. The growing government spending on healthcare transportation services, particularly in underdeveloped countries. This is an important factor in driving the region's desire for innovative healthcare transportation services.
Global U.S. Healthcare Transportation Services Market is segmented as follows:
U.S. Healthcare Transportation Services Market: By Type Outlook (2022-2028)
- Medical Transportation
- Incubator Transport
- Mobile Treatment Facilities
- Patient Transport
- Non-Medical Transportation
U.S. Healthcare Transportation Services Market: By End-Use Outlook (2022-2028)
- Hospitals
- Medical Centers
- Nursing Care Facilities
- Airport Shuttle
U.S. Healthcare Transportation Services Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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