New York, US, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Air Ambulance Services Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “Air Ambulance Services Market Information by Transport Vehicle, Aircraft Type, Service Model, Mission Profile and Region - Forecast till 2027”, the market is projected to cross USD 9.50 Billion by 2027 at 9.98% CAGR.
Primary Growth Boosters
The World Health Organization identify chronic diseases to be the major reason for deaths around the world, representing 70% of the total deaths. Around 80.0% of these deaths take place in middle- and low-income countries. Reports also confirm that 47.0% of Americans by 2026 will suffer from some or the other chronic disease. Cardiac diseases along with stroke accounts for 40% of the total deaths in the United States. In this scenario, there is a significant need for effective medical services that ensure in time treatment. Air ambulance services offer quick response during medical emergencies as these are generally equipped with highly advanced medical care for stroke, cardiac, trauma and chronic obstructive pulmonary disorder patients.
Furthermore, the dramatic increase in the global health spending since 1990 has paved the way for a number of modern technical developments. In 2013, the worldwide per capita healthcare spending was around USD 8.5 trillion per year, while it is anticipated that it can touch a whopping USD 20.28 trillion by 2045. The World Health Organization’s 2013 report suggests that the United States has maximum per capita healthcare expenditure in the world while Eritrea has the lowest. The government in emerging countries are spending huge amounts annually on healthcare, with the main objective to improve the infrastructure and quality of the medical services. This should be a growth rendering factor for the global market in the ensuing years.
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Competitive Landscape
MRFR study has considered some of the most affluent companies in the global market, including
- Air Methods Corporation
- Air Medical Group Holdings
- PHI
- Metro Aviation
- Rega
- DRF
- ADAC Service GmbH
- Royal Flying Doctor Service
- REVA Air Ambulance
- AMR
- FAI
- Capital Air Ambulance
- Native American Air Ambulance
- Lifeguard Ambulance
- MED FLIGHT
- Scandinavian Air Ambulance
- Airmed International
- Yorkshire Air Ambulance
- JAIC
- Deer Jet
Focused on widening their global reach and consumer base, these vendors strive to develop and distribute highly advanced systems. They enter strategic acquisitions, collaborations, and partnerships to further their market standings. For instance, in August 2021, Bolt, the fastest emerging ride-hailing operator in London partnered with the Air Ambulance Charity, known for its 32 years of service for trauma patients across London. London’s Air Ambulance offers an efficient trauma team to cater to the critically injured individuals, saving time and lives in the process.
Browse In-depth Market Research Report (136 Pages) on Air Ambulance Services: https://www.marketresearchfuture.com/reports/air-ambulance-services-market-7268
Market Restraints
High costs, accidents, and operational constraints could be some of the disadvantages of air ambulances, which can weaken the demand for their services in the future. Also, significant capital investments required could restrict the entry of new players into the global market.
COVID-19 Analysis
The COVID-19 pandemic had a grave effect on the defense, maritime, and aviation industry worldwide. The aviation industry faced a fall in tax revenues in line with the decrease in GDP, while the government’s major focus is on financially assist the healthcare sector. This has slowed down the air ambulance services market growth to some extent.
Having said that, large-scale spending on the healthcare sector to curb the spread of the pandemic has elevated the demand for air ambulance services to address medical emergencies.
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Market Segmentation
Air ambulance services industry caters a few major segments, including Vehicle Type, Service Type, and mission profile.
The vehicle type can be Air and Ground, as mentioned in the report.
The service types covered in the MRFR analysis include community services, Government and independent services, as well as hospital service. During the review period, it is likely that the independent segment will command the largest share in the global industry, given the rising number of deals between private firms and the community health organizations.
Mission profile-based segments listed in the report are Scene Response, Inter-Facility Transport, and others.
Regional Status
North America houses the biggest market for air ambulance services, and its value in 2018 was around USD 6.298 million. North America will also manage to procure a CAGR of 2.08% over the given period. The region is inundated with a huge number of air ambulance service providers and is home to a robust infrastructure pertaining to air medical transportation that is easily accessible. This gives a substantial boost to the air ambulance market in the region. additionally, supportive reimbursement schemes and the constant government assistance and funds in this fields adds to the market worth as well.
The second highest gainer in the global market is Europe, which will continue to thrive consistently throughout the appraisal period. Some of the major growth rendering factors include favorable medical policies, combined with the expanding geriatric patient base affected by arthritis, stroke, heart attacks, obesity, and osteoporosis.
Asia Pacific would emerge as the fastest growing markets for air ambulance services in the next couple of years, thanks to the solid contributions from China, Japan, and India. The air ambulance services industry in these countries is performing remarkably well, on account of the significant growth of the medical tourism sector and rapid procurement of new aircraft to carry out the operations.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
