Non-Emergency Medical Transportation Market
Dublin, Oct. 07, 2022 (GLOBE NEWSWIRE) -- The "Non-Emergency Medical Transportation Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Service Type and Application" report has been added to ResearchAndMarkets.com's offering.
The 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 market growth is attributed to the growing need for non-emergency medical transportation, rising incidence of chronic disease, and increasing geriatric population. However, lack of efficient oversight systems, rise in fraud by NEMT companies, and lack of transportation services in rural areas hamper the market growth.
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 commuting options, for regular appointments and check-ups can avail NEMT services, including ambulance services, wheelchair-assisted services, stretchers, flight services, and courier services.
Canada is witnessing a rising aging population. Thus, 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 the Canadian adults were suffering from one or more chronic illness(es), such as arthritis, cardiovascular disease, mental health disorders, and lung disease. Despite increasing concerns about the health, the prevalence of dementia, as represented by reported memory problems affecting with daily living, remains relatively low.
Inaccessibility to health care due to lack of transportation affects the most vulnerable groups of society, such as low-income inner-city residents who often belong to racial/ethnic minority communities. Across Canada, there is a growing momentum among government and nongovernment organizations as they develop policies and programs to support active transportation and healthy built environments.
NEMT is reshaping healthcare trends and consumer habits. TNCs pursue partnerships and government contracts that guarantee stable revenue streams. They are propelling the transition of the conventional healthcare sector to a modern healthcare mobility marketplace, but brokers still control the market. To retain their dominance, brokers are modernizing their services and transitioning into NEMT-TNC hybrid models. In states that allow health mobility companies to hire independent contractor drivers, NEMT players are placing their network of drivers while also outsourcing rides to Uber and Lyft.
The emerging markets in developing economies offer lucrative growth opportunities to major players to expand their business and geographic reach. The adoption of NEMT services is likely to increase in regions, including Asia Pacific and the Middle East & Africa, in the coming years. The regions invest significantly in the healthcare sector and create awareness regarding NEMT services. The growing healthcare expenditure in economies, including India, China, and the UAE, creates notable opportunities. These countries are witnessing an increase in adult and geriatric populations. Geriatric age group may need regular check-ups and weekly doctor's visits to maintain their health. Also, there is a rise in the number of people who need NEMT services to reach healthcare facilities in countries, such as India and China. Also, the incidence of chronic conditions is increasing. In addition, there is a rise in the number of start-up companies operating in the healthcare sectors in India and China. Therefore, the market in developing countries is likely to show high growth potential during the forecast period.
Growing Need for Non-Emergency Medical Transportation
Rising Incidence of Chronic Diseases
Increasing Geriatric Population
Lack of Efficient Oversight Systems and Fraud by NEMT Companies
Lack of Transportation Services in Rural Areas
Collaboration between Various Companies and Transportation Networks
High Market Potential in Developing Economies
Growing Role of Technology in Non-Emergency Medical Transportations
Key Topics Covered:
2. Non-Emergency Medical Transportation Market - Key Takeaways
3. Research Methodology
4. Non-Emergency Medical Transportation Market - Market Landscape
5. Non-Emergency Medical Transportation Market - Key Market Dynamics
6. Non-Emergency Medical Transportation Market- Global Analysis
7. Global Non-Emergency Medical Transportation Market Revenue and Forecasts To 2028- by Service Type
8. Global Non-Emergency Medical Transportation Market Revenue and Forecasts To 2028- by Application
9. Non-Emergency Medical Transportation Market Revenue and Forecasts to 2028 - Geographical Analysis
10. Impact Of COVID-19 Pandemic on Non-Emergency Medical Transportation Market
11. Non-Emergency Medical Transportations Market-Industry Landscape
12. Company Profile
ABC NON-EMERGENCY MEDICAL TRANSPORTATION, LLC
CJ MEDICAL TRANSPORTATION
ELITE MEDICAL TRANSPORT
ACADIAN AMBULANCE SERVICE
ERS Transition Ltd
Global Rescue LLC
London Medical Transportation Systems
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