The rising number of service providers, along with advanced on-board medical treatment, is expected to stimulate market demand.
Global Market Size – USD USD 4.79 billion in 2018
Global Market Growth – CAGR of 8.7%,
Global Market Trends –The increasing breadth of health insurance coverage
It is estimated that the Global Air Ambulance Services Market size will hit USD 9.51 Billion by 2026.Air ambulance services are the transfer of patients either from an accident scene to a hospital or between hospitals to provide advanced medical treatment, such as a stroke, burn, or cardiac center, to the patient at a specialist facility.
Key participants include-
AMR, Scandinavian Air Ambulance, PHI Air Medical, Express AirMed Transport, Lifeguard Air Ambulance, IAS Medical, Native American Air Ambulance, Acadian, REVA Air Ambulance, and Falck Danmark A/S, among others.
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The market is expected to be guided by the provision of on-board medical assistance, the availability of better reimbursement policies, the increasing focus on enhancing emergency healthcare facilities by governments worldwide, combined with the rising demand for the same among masses. The progress of advanced technologies in the provision of on-board medical treatments are causing the opportunity to be seized by many new players entering the market, and this, in turn, is expected to fuel growth in the industry.
It is projected that growing occurrences of fatal diseases comprising cardiovascular disorders requiring emergency medical services will drive demand growth in the coming years. In addition, the rising awareness of air ambulance services is expected to fuel consumer demand in the future.
In the forecast period, high costs associated with services and mounting incidences of air ambulance accidents could create barriers to market growth.
Further key findings from the report suggest
- The type of rotary-wing aircraft consisting of helicopter-based air ambulance services contributed to the largest market share, amounting to more than 60% in 2019 and is expected to rise during the forecast period at a CAGR of 8.5%. Helicopter ambulances are deployed for short-distance transport. In addition, the ability of helicopters to land smoothly on rooftops and streets, among other areas, is attributed to the improved mobility of aircraft of this kind.
- The global market was led by hospital services in terms of the form of business model, and a growth rate of 8.4% is expected for the forecast period. Hospitals, especially in developed countries, manage the business by providing medical services and employees while contracting for the aviation portion with an air ambulance provider.
- The Asia Pacific region’s demand is expected to witness the highest growth rate of 9.5% over the forecast period. This can be attributed to the rise in investment and the improvement in economic conditions in countries in this area, including China and India. Furthermore, because of the availability of cheap labor, investments from major market players are also expected to drive the market in this area during the forecast period.
- In May 2018, a critical care service provider on the market, LifeSave KÅ’Pono, announced the acquisition of Air Ambulance Operations from AMR in Hawaii. Also popular as AirMD, LLC d/b/a LifeTeam, LifeSave has been working in collaboration with AMR on Hawaii operations for patient care by providing aviation services, and, with the sale, has assumed full control over the medical bases in Hilo, Honolulu, and Maui.
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For the purpose of this report, the Global Air Ambulance Services Market is segmented on the basis of aircraft type, service model type, service type, and region:
Aircraft Type Outlook (Revenue, USD Million; 2017-2027)
- Fixed Wing
- Rotary Wing
Service Model Type Outlook (Revenue, USD Million; 2017-2027)
- Government Run
Service Type Outlook (Revenue, USD Million; 2017-2027)
- Medical Evacuation and Repatriation
- Medical Escort Service
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Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- Middle East & Africa
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