
Published On: Dec 2022
Published On: Dec 2022
At 8.9% CAGR, the Europe Non-Emergency Medical Transportation Market is projected to be worth US$ 2,714.95 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe non-emergency medical transportation market was valued at US$ 1,627.96 million in 2022 and is expected to reach US$ 2,714.95 million by 2028, registering a CAGR of 8.9% from 2022 to 2028. Growing need for non-emergency medical transportation, rising incidence of chronic conditions, and increasing geriatric population are the critical factors attributed to the market expansion.
Since 1965, Medicaid has had a non-emergency medical transportation (NEMT) benefit and people covered by Medicaid are provided with transportation services as an essential benefit. Nearly 75 million individuals were enrolled in Medicaid till 2019. Most of the NEMT services are delivered through NEMT brokers or managed care organizations (MCOs). In many states, the brokers or MCOs receive a per capita payment to manage the NEMT, while in other states, NEMT is delivered on a fee-for-service basis through local service providers. The Children’s Health Insurance Program (CHIP) provides health coverage to eligible children through Medicaid and separate CHIP programs. CHIP is administered by states as per federal requirements, and it is funded jointly by state governments and the federal government. Thus, with an increase in such initiatives by governments, the need for NEMT is rising, thereby boosting the market growth.
On the contrary, lack of transportation services in rural areas hampers the Europe non-emergency medical transportation market.
Key players dominating the Europe non-emergency medical transportation market are ERS Transition Ltd; GLOBAL RESCUE LLC.; London Medical Transportation Systems, and FirstGroup plc, among others.
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