U.S. Healthcare Transportation Market size in 2019 is estimated to be $ 22.7 billion, growing at a CAGR of 4.5% during the forecast period 2020-2025. Healthcare Transportation is a set of systematic process by which health-related critical material is transported to and from various location within the healthcare system. The Healthcare Transportation Services enable the convenient movements of patients, medicines, machines and samples & specimens for testing. Improving Healthcare system and growing need for quick transportation are the major factors driving the growth of the market. Moreover, rising geriatric population and advancement of R&D activities further enhance the overall market demand for U.S. healthcare transportation during the forecast period 2020-2025.
U.S. Healthcare Transportation Market Segment Analysis - By Type
Based on the Type, U.S. Healthcare Transportation Market is segmented into Medical Transportation, Non-Medical transportation. The medical transportation segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 4% during the forecast period 2020-2025. Medical Transportation services required for people with high range of critical or life & death situation. Medical Transportation services is required for unfavourable Medicaid receivers, such as old aged, disabled, and financially backward people who are not able to access healthcare transportation services are contributing to the growth of this segment.
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U.S. Healthcare Transportation Market Segment Analysis - By End Use Industry
Based on the End-Use Industry, U.S. Healthcare Transportation Market is segmented into Hospitals, Medical Centers, Nursing Care Facilities, Airport Shuttle. In 2019, hospitals held the largest share in the U.S. Healthcare Transportation Market. This is mainly owing to increasing number of hospitals especially in the developed nations and increasing need for cost reductions and more reach which is contributing to the growth of this segment.
U.S. Healthcare Transportation Market Drivers
Improving Healthcare System
Improving healthcare system and growing healthcare facilities are some factors driving the market growth of this segment. Moreover, healthcare providers are providing healthcare transportation services to the patients who require non-emergency healthcare transportation to get different healthcare services which are increasing the market growth of U.S. Healthcare Transportation.
Growing Need For Quick Transportation
Growing need for quick transportation of samples and specimens for testing and increased focus reducing logistics cost are some factor driving the growth of the market. Moreover, increasing ride-sharing for healthcare transportation which are contributing to the growth of U.S. Healthcare Transportation Market.
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U.S. Healthcare Transportation Market Challenges
Lack of investment and high maintenance cost of vehicles for transportation are challenging the growth of this market. Moreover, lack of investments from local players are restraining its market growth during the forecast period 2020-2025.
U.S. Healthcare Transportation Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the U.S. Healthcare Transportation Market. U.S. Healthcare transportation top 10 companies are 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.
Acquisitions/Product Launches:
On March 2017, American Medical Response Inc. has acquisition with Lyft Inc. in order to offer non-emergency medical transportation services to patients.
On March 2018, Uber launches a new digital tool to book rides for patients. These services are known to be cheaper and more reliable than any other mode of non-emergency medical transportation.
Key Takeaways
In 2019, U.S. dominates the Healthcare Transportation Market owing to increasing healthcare infrastructure and growing transportation facilities.
Improving Healthcare system and growing need for quick transportation is driving the market growth of U.S. Healthcare Transportation.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the U.S. Healthcare Transportation Market report.
Lack of investment and high maintenance cost of vehicles for transportation is challenging the growth of the market.
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