Newark, Feb. 21, 2023 (GLOBE NEWSWIRE) -- The brainy Insights estimates that the USD 8.65 billion in 2022 air ambulance market will reach USD 20.07 billion by 2030. The covid-19 pandemic was associated with stringent lockdowns and restricted movement. Individuals were not allowed to gather or move beyond a specific area designated as a healthcare measure to control the virus. The restrictions left millions restless, and with the gradual opening of the economy, millions are venturing out. Thousands are enrolling in hiking, adventure sports and vacations to make up for the time lost. Such an exodus of populations for adventure increases the risk of adventure injuries, including hiking, rappelling and other accidental injuries. These injuries call for emergency medical evacuation by air ambulances, given these areas are inaccessible by roads. For instance, there are around 4000-5000 hiking incidents in the United States every year requiring emergency medical evacuation. Given the climate change crisis, the increasing instances of natural calamities like flash floods, forest fires and cyclones also call for an air ambulance for various medical needs. Therefore, the global air ambulance market will rise, given the increase in accidents and trauma cases.
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Key Insight of the air ambulance Market
Asia Pacific is expected to grow the fastest during 2022-2030.
Asia Pacific is expected to grow the fastest during 2022-2030. There are 703 million people worldwide who are 60 years of age or older, according to the United Nations' 2019 report on the world's ageing population. By 2050, this number will increase to 1.5 billion. The elderly population has a high prevalence of acute cardiovascular, respiratory, and other ailments. The one-child policy in place in China for many years has contributed significantly to the world's ageing population. The significant geriatric population will contribute to the Asia Pacific air ambulance market’s growth.
The rotary-wing segment will augment the facial implant market during the forecast period.
The aircraft type segment is divided into fixed-wing and rotary-wing. The rotary wing segment dominated the market with a market share of around 76% in 2022.
The independent segment will augment the air ambulance market during the forecast period.
The service type segment is divided into hospital-based, independent and government. The independent segment dominated the market with a market share of around 45% in 2022.
During the forecast period, the rescue helicopter services segment will augment the air ambulance market.
The application segment is divided into inter-facility, organ transplant logistics, infectious disease services, rescue helicopter service, overweight patient transport, neonatal and paediatric transport and others. The rescue helicopter service segment dominated the market with a market share of around 27% in 2022.
Advancement in market
June 2022 - The Lake Cumberland Regional Airport opened its hangar doors to PHI Air Medical, its newest tenant. PHI has been providing emergency medical services to the Pulaski area from its London or Monticello facilities. It is well known that it is one of the area's two most often-used air ambulances. The partnership with the airport board and the Somerset-Pulaski Economic Development Authority has enabled PHI to have a new base in the Somerset region (SPEDA). D.C. Trimble was instrumental in remodelling PHI's new hangar and quarters.
Market Dynamics
Driver: The rising geriatric population
The digitization and automation of the economies have encouraged the work-from-home culture, which has augmented a sedentary lifestyle in the modern world. The busy lifestyles, hectic work schedules and working individuals tend to cook less at home and eat outside food, which is typically highly processed and heavy in sugar, calories, and nutrition. The prevalence of cardiovascular illnesses and other acute and chronic ailments has increased due to sedentary lifestyles coupled with bad diets and no physical activity. Furthermore, cardiovascular disorders are a risk factor for the growing worldwide senior population. Another prevalent occurrence is the rise in cardiac arrests and heart attacks in otherwise healthy young people. Air ambulances with life-saving medications, equipment, and medical supplies can promptly treat patients with life-threatening diseases like heart attacks and cardiac arrests. In contrast to road ambulance services, they are swift in conveying, ensuring that the patient receives the required care immediately. Therefore, the global air ambulance industry would experience rapid expansion due to the rising prevalence of cardiovascular disorders and conditions.
Restraint: Air ambulance services are costly
Under normal circumstances, air travel is already pricey. Air travel uses cutting-edge machinery, tools, and technology to build the aircraft needed for fast and comfortable travel over every distance range. The machinery, tools, and technologies required are very expensive. Additionally, the pilots of these aircraft are licenced, experienced, and expensive to acquire experts. Air ambulances must be outfitted with essential medical supplies, such as bedding, gear, medicines, instruments, and doctors or EMTs. The market's expansion would be hampered by the high cost of air ambulances and their associated services.
Opportunities: Increasing per capita government healthcare expenditure
The amount spent on medical care per person varies widely among economies. Since there is little demand for air ambulance services and most people cannot afford them, the market is primarily private. However, the covid 19 pandemic has highlighted the shortcomings of public healthcare systems and infrastructure. Government agencies all across the world have updated their healthcare infrastructure and policies. They have concentrated on creating a superior, cutting-edge, efficient healthcare industry. The extra money is spent on creating state-owned air ambulances or leasing them out to private companies for public healthcare due to their effectiveness in saving lives. Additionally, the demand for air ambulances has increased due to rising disposable income. This has prompted private companies to enhance and expand their services, creating attractive potential in the global market for the foreseeable future.
Challenge: Air ambulance services are inaccessible to the majority of the population
Every citizen's welfare is the responsibility of the government, but notably that of the underprivileged. As a result, the government is responsible for providing social services like education, health care, food, and sanitation. However, the government healthcare facilities are understaffed and underfunded rendering them inefficient and inaccessible to every citizen in need.. Emergency first responders, such as firefighters and EMTs, lack the resources to meet community demands. The number of road ambulances is insufficient to meet all healthcare demands. Such a market void is taken advantage of by private businesses. However, the private businesses are profit oriented and demand high retail prices, which are unaffordable for the majority of the population.. Private air ambulances are inaccessible to most people, given their high cost and the general public's lack of knowledge about them. The inaccessibility of these services is made worse by the fact that impoverished public healthcare facilities cannot finance these ambulances.
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Some of the major players operating in the air ambulance market are:
• Acadian Ambulance
• Air Methods Corporation
• American Air Ambulance
• Babcock Scandinavians Air Ambulance
• European Air Ambulance
• Express Air Medical Transport
• Express Aviation Services
• Lifeguard Ambulance Service LLC
• PHI Air Medical
• REVA Inc.
Key Segments cover in the market:
By Aircraft Type
• Fixed-Wing
• Rotary-Wing
By Service Type
• Hospital-Based
• Independent
• Government
By Application
• Inter-Facility
• Organ Transplant Logistics
• Infectious Disease Services
• Rescue Helicopter Service
• Overweight Patient Transport
• Neonatal and Paediatric Transport
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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