DUBLIN–(BUSINESS WIRE)–The “Non-Emergency Medical Transportation Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Service Type and Application” report has been added to from ResearchAndMarkets.com offer.
Non-emergency medical transportation market is expected to grow from US$8,658.87 million in 2021 to US$15,579.98 million by 2028; it is estimated to grow at a CAGR of 9.0% from 2022 to 2028.
The growth of the market is attributed to the growing need for non-emergency medical transportation, rising incidence of chronic diseases, and increasing geriatric population. However, lack of effective surveillance systems, increase in fraud by NEMT companies, and lack of transportation services in rural areas are hampering the growth of the market.
Non-emergency medical transportation (NEMT) service providers are widely known to serve Medicaid beneficiaries. Patients and healthcare consumers who need to be transported to medical facilities, avoiding expensive transportation options, for regular appointments and check-ups, can benefit from NEMT services, including ambulance services, wheelchair services, stretchers, flight services and courier services.
Canada is experiencing a growing aging population. Thus, the incidence of age-related chronic diseases and their management are growing and evolving challenges. In the 2018 Health Care in Canada (HCIC) survey, more than half of Canadian adults suffered from one or more chronic conditions, such as arthritis, cardiovascular disease, mental health disorders and lung diseases. Despite growing health concerns, the prevalence of dementia, represented by reported memory problems affecting daily life, remains relatively low.
Inaccessibility to health care due to lack of transportation affects the most vulnerable groups in society, such as low-income inner-city residents who often belong to racial/ethnic minority communities. Across Canada, government and non-government organizations are increasingly aggressive as they develop policies and programs to support active transportation and healthy built environments.
NEMT is reshaping healthcare trends and consumer habits. TNCs seek partnerships and government contracts that guarantee stable revenue streams. They are propelling the transition from the conventional healthcare industry to a modern healthcare mobility market, but brokers still control the market. To maintain their dominance, brokers are modernizing their services and moving to hybrid NEMT-TNC models. In states that allow medical mobility companies to hire independent drivers, NEMT players place their network of drivers while outsourcing rides to Uber and Lyft.
Emerging markets in developing economies offer lucrative growth opportunities for major players to expand their businesses and geographic reach. The adoption of NEMT services is likely to increase in regions including Asia-Pacific and the Middle East and Africa in the coming years. Regions are investing significantly in the health sector and raising awareness of NEMT services. Growing healthcare spending in economies including India, China and the United Arab Emirates is creating notable opportunities. These countries are experiencing an increase in the adult and geriatric population. The geriatric age group may need regular checkups and weekly visits to the doctor to maintain their health. Also, the number of people who need NEMT services to access health facilities in countries like India and China is increasing. In addition, the incidence of chronic diseases is increasing. Moreover, there is an increase in the number of start-ups operating in the healthcare sectors in India and China. Hence, the developing country market is expected to show high growth potential over the forecast period.
Growing need for non-emergency medical transportation
Growing incidence of chronic diseases
Increase in the geriatric population
Lack of effective monitoring systems and fraud by NEMT companies
Lack of transport services in rural areas
Collaboration between various companies and transport networks
High market potential in developing economies
Growing role of technology in non-emergency medical transport
Main topics covered:
2. Non-Emergency Medical Transportation Market – Key Takeaways
3. Research methodology
4. Non-Emergency Medical Transport Market – Market Landscape
5. Non-Emergency Medical Transportation Market – Key Market Dynamics
6. Non-Emergency Medical Transport Market – Global Analysis
7. Global Non-Emergency Medical Transportation Market Revenue and Forecast to 2028 – By Service Type
8. Global Non-Emergency Medical Transportation Market Revenue and Forecast to 2028 – By Application
9. Non-Emergency Medical Transportation Market Revenue and Forecast to 2028 – Geographical Analysis
10. Impact of the COVID-19 pandemic on the non-emergency medical transportation market
11. Non-Emergency Medical Transport Market Landscape
12. Company Profile
ABC NON-EMERGENCY MEDICAL TRANSPORT, LLC
CJ MEDICAL TRANSPORT
CROTHALL HEALTH CARE
ELITE MEDICAL TRANSPORT
ACADIAN AMBULANCER SERVICE
ERS Transition Ltd.
Global Rescue LLC
London Medical Transport Systems
For more information on this report, visit https://www.researchandmarkets.com/r/1aw7ka