Medical Drones Market Scope
Market Research Future (MRFR) expects the medical drones market 2020 to exhibit a strong performance, garnering a solid valuation of USD 398 Million by 2025. It is highly possible that the global market can secure an impressive CAGR of 24.4% over the forecast period (between 2019 and 2025). We will provide COVID-19 impact analysis with the report, along with an in-depth review post the coronavirus disease outbreak.
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Medical Drones Market Top Drivers and Challenges
Since the COVID-19 outbreak, Zipline (US) has been making extensive use of medical drones in healthcare to curb the spread of the pandemic and also maintain its market position. After entering a partnership with Novant Health in June 2020, Zipline has deployed numerous long-range medical drones for supplying PPE to different providers. These drones are able to cover close to 8,000 square miles. Since the breakout of the SARS-CoV-2 infection and the resultant lockdown, medical drones have been useful in testing across Ghana, bringing down the wait time and reducing the risk of damaged samples owing to weakened cold chain storage. In other news, in September 2020, Zipline supplied medical drones to carry critical medical supplies to the flood stricken locations in Northern Ghana, having delivered various novel coronavirus samples along with PPE and sanitizers to testing centers and health centers.
Prior to the COVID-19 impact on the global economy, medical drones had already massive traction in the healthcare sector, extensively used for the transportation of vital medical supplies such as medications, medical aids and vaccines. Medical drones are generally used in inaccessible or remote areas for secure and fast distribution of supplies from medical facilities. A few remote locations such as Cook’s Bay in Canada can only be accessed via boats, which make it tough to deliver the required vaccines for pregnant women and children. Hence, medical drones have been quite useful in these kinds of areas in the past few years. Also, deep involvement of various governments in this regard, backed by large-scale funds provided has also been favorable for the market. The low cost of these devices and the rising penetration of retailer services as well as logistic services also ensure steady market demand worldwide.
Industry participants are adopting strategies such as expansion of distributional channels across untapped areas, product launches and collaborations to gain higher revenues and stay relevant in the long run. To illustrate, in August 2020, Valqari launched Drone Delivery Station that is capable of a completely autonomous and point-to-point delivery to offer an accurate location for deliveries as well as pickups of nearly 25 pounds. Pharmaceutical and meal delivery services will be key packages delivered and the medical drones are theft-proof, temperature controlled and weatherproof, which ensures safe and timely delivery of the products.
Medical Drones Market Segmentation
Medical Drones industry has been studied extensively in the MRFR report, with careful consideration given to certain segments, namely applications and end-user.
The application-wise market categories are vaccine transfer, pharmaceutical/drug transfer, blood transfer and others. The use of medical drones for blood transfer is the highest in the global market, as a result of the escalating number of deaths owing to severe bleeding. To elaborate, studies reveal that every year, close to 2 million people die because of hemorrhaging or blood loss around the world.
The medical drones market, depending on end-user, has been narrowed down to blood banks, emergency medical services, and more. Emergency medical services remain the top segment since 2018, on account of the increasing number of technical innovations in this field.
Medical Drones Market Regional Study
The regional distribution of the global market covers the Americas, Asia Pacific or APAC, MEA or Middle East & Africa and Europe.
The Americas currently stands as the most lucrative market and can continue to be in the lead throughout the evaluation period, thanks to the intense R&D activities conducted by public as well as private firms in Canada and the United States. Fast escalating awareness level and rise in alliances between renowned vendors such as Zipline (US), Matternet (US), Flirtey (US), and more also contribute immensely to the market growth in the Americas. The prevalence of strict regulations and rules imposed by the federal government coupled with the presence of extremely favorable environment in the region also boosts the demand for medical drones. Besides, the large number of blood banks deploying medical drones for timely delivery of blood, platelets and plasma to clinics and hospitals further add to the market strength.
The APAC market for medical drones seems to be advancing relentlessly and is even touted to seize the fastest growth rate in the forthcoming period. Japan happens to be one of the strongest markets in the region, considering the rapidly developing healthcare facilities and the surging awareness with regard to the advantages of medical drones, especially during catastrophes. Emerging countries like China and India are increasingly encountering challenges with respect to reduced access to treatment during emergency cases like vehicle accidents and cardiac arrests. This scenario has significantly expanded the application scope of medical drones in recent years, while the fast delivery of blood, vaccines, medications and more by these devices has also boosted their use across the countries.
Medical Drones Market Reputed Companies
Some of the most reputed firms in the worldwide market include Matternet (US), Embention (Spain), Vayu (US), DJI (China), TUDelft (The Netherlands), EHang (China), DHL (Germany), Zipline (US), Flirtey (US), to mention a few.
Table Of Contents
1. REPORT PROLOGUE
2. MARKET INTRODUCTION
2.2. Scope Of The Study
2.2.1. Research Objective
3. RESEARCH METHODOLOGY
3.2. Data Mining
3.3. Secondary Research
3.4. Primary Research
3.4.1. Breakdown Of Primary Respondents
3.5. Forecasting Techniques
3.6. Research Methodology For Market Size Estimation
3.6.1. Bottom-Up Approach
3.6.2. Top-Down Approach
3.7. Data Triangulation
4. MARKET DYNAMICS
5. MARKET FACTOR ANALYSIS
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