WASHINGTON, July 25, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Air Ambulance Market finds that the increasing integration of advanced technologies such as real-time data tracking and autonomous technology is expediting market growth. In addition, the increase in the incidence of chronic diseases is also anticipated to propel the growth of the Global Air Ambulance Market during the forecast period.
The Global Air Ambulance Market revenue is expected to reach a value USD 8.8 Billion in 2028.
The Global Market revenue was valued at USD 5.5 Billion in 2021 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 8.2% during the forecast period; states Vantage Market Research, in a report, titled “Air Ambulance Market Size, Share & Trends Analysis Report by Service Operator (Hospital Based, Independent, Government), by Service Type (Domestic, International), by Aircraft Type (Fixed-Wing, Rotary-Wing), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Air Ambulance market is predicted to grow at a CAGR of roughly 8.2% during the forecast period.
- The Air Ambulance market was estimated to be worth roughly USD 5.5 Billion in 2021 and is expected to reach USD 8.8 Billion by 2028; based on primary research.
- On the basis of region, Asia Pacific is projected to dominate the worldwide Air Ambulance market.
Market Dynamics:
Drivers:
Increasing Integration of Advanced Technologies to Drive the Market Growth
The increased integration of advanced technologies such as real-time data tracking and autonomous technology with safety measures increases the demand from consumers and healthcare professionals. This surge is expected to propel the development of the Air Ambulance Market during the forecast period. Growing accidents and the Federal Aviation Administration's (FAA) safety standards are also significant reasons for implementing real-time data management software. Real-time data tracking assists pilots in making critical decisions during flight. Furthermore, the flight management software installed in the Air Ambulance Market provides helicopter systems and software information. Similarly, Artificial Intelligence (AI) and the Internet of Things (IoT) in Air Ambulance Markets have streamlined the pilot's overall operational activities. In the coming years, Airbus SAS and Honeywell Corporation Inc. will be actively involved in the design and development of lightweight and highly autonomous helicopters for Air Ambulance Markets.
Growing Per Capita Healthcare Expenditure to Stimulate Market Growth
There has been a dramatic increase in the cost of health care worldwide since 1980. In 2012, the total global health care cost was USD 6.5 trillion per year. International health care costs are expected to reach USD 18.28 trillion by 2040. According to a report by the World Health Organization (WHO) (2012), the U.S. had the highest per capita cost of health care (USD 8,362), and Eritrea had the lowest per capita health care costs. The Luxembourg government spent the highest per capita year on health (USD 6,906). It is estimated that 9.0% of global GDP will be spent on health by 2040. The per capita cost of health care in high-income countries is expected to be USD 9,019. On the other hand, high- and middle-income countries are expected to spend USD 1,935.0 per person on health. High-income countries will spend USD 507.0 per person on health, while low income will spend USD 164.0 per person on health. Increasing the cost of per capita health care is expected to positively impact the salaries of medical professionals, medical centers, and hospital administrators and help reduce the cost of medical procedures and pharmaceutical products. In addition, increasing the cost of per capita health care can help overcome the shortage of medical professionals and resources. The increase in the availability of these services is expected to contribute to the growth of the Air Ambulance Market during the forecast period.
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Segmentation of the Global Air Ambulance Market:
- Service Operator
- Hospital Based
- Independent
- Government
- Service Type
- Domestic
- International
- Aircraft Type
- Fixed-Wing
- Rotary-Wing
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/air-ambulance-market-1752
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the healthcare industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The Report on Air Ambulance Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Browse market data Tables and Figures spread through 148 Pages and in-depth TOC on "Air Ambulance Market Size, Share & Trends Analysis Report by Service Operator (Hospital Based, Independent, Government), by Service Type (Domestic, International), by Aircraft Type (Fixed-Wing, Rotary-Wing), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
Regional Analysis:
Asia Pacific Anticipated to Witness the Fastest Growth of the Market
Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) during the forecast period. This growth is attributable to the increase in the number of the elderly population, growing infrastructural demand, and increasing technological advances in the region. Furthermore, an increase in the incidence of chronic diseases and favorable rehabilitation policies in the area are also likely to support the regional growth of the Air Ambulance Market. Moreover, the increased tendency of patients to a more efficient and faster delivery system is also expected to contribute to the growth of the Air Ambulance Market during the forecast period in this region.
List of Prominent Players in Air Ambulance Market:
- Acadian Companies
- Aeromedevac
- Air Methods
- ALPHA STAR
- Babcock Scandinavian Air Ambulance
- Gulf Helicopters
- European Air Ambulance
- Express Aviation Services
- PHI Inc
- REVA Inc.
Recent Developments:
May 2021: Blade's Indian subsidiary announced the launch of medical emergency services across the country, amid increasing demand for Air Ambulance Market services in the wake of the pandemic.
September 2016: REVA significantly expanded its medical aviation operations in the Caribbean, thus providing emergency medical care on air and even on remote islands with shorter airlines.
January 2016: REVA announced the launch of a new operating environment in Schenectady, New York. The new framework allows REVA to provide faster responses to medical services in Europe and abroad. The new facility has also opened new opportunities with insurance brokers and other leading institutions in the North-eastern region.
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Air Ambulance Market?
- How will the Air Ambulance Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Air Ambulance Market?
- What is the Air Ambulance market drivers and restrictions?
- What will be the CAGR and size of the Air Ambulance Market throughout the forecast period?
This market titled “Air Ambulance Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered |
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| Region & Counties Covered |
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| Companies Covered |
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| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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