Air ambulance services refer to transport or evacuation facilities provided to patients in emergency situations at the accident site, home, or hospital. Air ambulances are equipped with advanced medical equipment, including emergency medical devices, and trained medical crew to provide immediate medical care to the patient until he/she reaches the nearest hospital. Air ambulance efficiently addresses the issue of long travel time and inadequate reach to remote areas faced in road ambulance services. Air ambulance services have thus become an essential component of the modern healthcare system.
Some key market drivers include the ability of air ambulance services to reach faster compared to road ambulance and providing onboard medical assistance. Also, air ambulance services are widely utilized on the warfront to rescue injured soldiers and provide emergency medical care to them.
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Increasing use of Helicopters in Air Ambulance
The global air ambulance services market can be analyzed on the basis of type of aircraft and type of service as follows:
- Type of Aircraft
- Rotary winged aircraft
- Fixed winged aircraft
- Type of Service
- Community-based service
- Hospital-based service
Use of helicopters in air ambulance is increasing, owing to its convenience in landing and taking-off from a smaller ground area as compared to conventional aircraft. Moreover, helicopter enables wider reach in remote areas compared to winged aircrafts/airplanes. Companies are also deploying sea planes and corporate planes depending on the demand and patient location.
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Lack of Infrastructure, Investment and Inadequate Quantity of Aircrafts in Developing Regions are Key Challenges for Growth of Air Ambulance Services Market
On the basis of geography, the global air ambulance services market scenario can be segmented into North America, Europe, Asia Pacific, Latin America and Rest of the World. Developed infrastructure, defined regulatory framework and favorable reimbursement policies are some of the factors contributing to the growth of the air ambulance services market in North America and Europe.
- Certain insurance providers in Canada reimburse around 80% of the total service cost of air ambulance. This reimbursement policy is applicable for patients who require immediate hospitalization. This policy, however, excludes non-emergency patients, thus increasing cost of this service for such patients.
- Formulation of strict safety rules by the Federal Aviation Administration (FAA) is one of the factors anticipated to reduce profit margins of air ambulance service providers, which would also hinder the growth of air ambulance services market revenue during the forecast period (2016–2024).
Developing countries of Asia Pacific, Latina America and Middle East are expected to show swift growth in the demand for air ambulance services. Collaboration with insurance providers to provide affordable service would be conducive for the demand for air ambulance service in emerging economies. Furthermore, factors such as rapidly growing medical tourism, improving medical infrastructure, and increasing disposable income are projected to boost growth of air ambulance services market in these regions. . However, lack of infrastructure and investments is deterring operators to meet demand for air ambulance in the country. Owing to these factors, air ambulance service providers in emerging economies are majorly catering for medical tourism and patient transport at present.
To know the latest trends and insights prevalent in the Air Ambulance Services Market, click the link below:
Ambulance Drones: A Fast Emerging Possible Nemesis
Air ambulance service is a capital intensive business, which increases entry barriers for new entrants in the market. There are various small players operating relatively small fleet of planes across the globe. Furthermore, the advent of ambulance drones will also negatively impact demand for air ambulance in the not-too-distant future. The high cost of availing the air ambulance service in comparison to a cheaper ambulance drone would restrain market growth of air ambulance considerably.
Some of the major players in the global air ambulance services market are Air Methods Corporation, Deccan Charters, Scandinavian Air Ambulance, Air Ambulance Specialists, Air Charter Service, and Air Methods.
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