Medical Transport Services Market expecting to exhibit a CAGR of more than 6.8% between 2017 and 2022

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Medical Transport Services Market

Overview

Medical Transport Services market includes the transport services of patients as well as medical products. Global Medical Transport Services market belongs to the parent market “Transport services market”.  The medical transport services include patient transport, Incubator transport, mobile treatment facilities and medical products transport. In the recent years, medical transport service has achieved growing appreciation and is an important part of any medical health care program.

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Value 

The global Medical Transport Services market was valued at around USD 65.0 billion in the year 2016 and it is expected to reach approximately USD 95.0 billion by 2022. The global Medical Transport Services market is expected to grow at a CAGR of over 6.7% between 2017 and 2022.

Drivers and Restraints

The major factor driving the growth of Medical Transport Services market is the rising healthcare complications requiring medical attention. Globally the number of emergency hospital administration is on the rise. Alone in the United States, more than 131 million patients required some kind of medical emergency service in the year 2011. In the year 2014, more than 141 million patients required the same kind of medical emergency service. Out of the complete visiting patient pool, more than 13% of the patient used ambulance facility. Moreover advancing healthcare transport facilities is likely to boost the market for Medical transport services over the forecast period.

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At the same time, ambulances and the vehicles that are used for the transportation of the patients and other medical goods needs regular servicing and quality check by the transport regulatory bodies of the respective regions. Such process involving routine checkups of the transportation vehicles require time hence in order to continue the services there should be additional vehicles or other substitute vehicles. Also, the maintenance cost incurred on vehicles and the air ambulance is comparatively high. Hence these factors are likely to restrict the growth of the market over the forecast period.

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