Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Air Ambulance Services Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”
The Global Air Ambulance Services Market is expected to grow at a CAGR of around 9.5% from 2020 to 2027 and reach the market value of over US$ 9,275.5 Mn by 2027.
North America is expected to have a dominant market share in the global air ambulance services market during the forecast period. North America has the most air ambulance service providers, and the infrastructure needed for air medical transportation is easily accessible. Furthermore, the presence of favorable reimbursement policies contributes to the growth of this region. Furthermore, the presence of well-developed healthcare infrastructure is expected to drive the market for air ambulance services during the forecast period.
On the other hand, Asia Pacific is expected to have the fastest growing CAGR in the air ambulance services market in the coming years. The presence of developing countries such as China, India, and Japan is expected to boost the region’s market for air ambulance services. Furthermore, the rapidly growing medical tourism industry in these countries can be attributed to the region’s increased demand for air ambulance services.
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Market Drivers
On-board medical assistance, favorable reimbursement policies, rising governmental focus on improving emergency care standards, and demand for better emergency health care services are expected to drive the global air ambulance services market. Superior technological advancements in on-board medical treatments have piqued the interest of major market players, and the growing number of service providers is expected to provide a significant opportunity for the growth of the global air ambulance services market. The need to maximize the use of air ambulance assets in order to provide better emergency care and generate more profitable returns is expected to drive market growth. Increasing health expenditure per capita attributed to improving economic conditions, enhanced access to efficient emergency treatment, rising prevalence rate of cardiovascular diseases worldwide, proper reimbursement policies, increasing number of multinational hospitals equipped with proper air-ambulance services, strategic collaborative initiatives from major market players, and improving medical infrastructure in rural regions are fueling the growth of the global air ambulance services market
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Market Restraints
In emerging economies, a lack of healthcare infrastructure and an insufficient number of aircraft are expected to stifle growth in the air ambulance services market over the forecast period. Governments’ stringent rules and regulations have put a strain on medical services. Every manufacturer and producer must adhere to the guidelines and permissions issued by the governing bodies.
Segmental Outlook
The global air ambulance service market is segmented based on type and service model. By type, the market is bifurcated into rotary-wing and fixed-wing. By service model, the market is classified into hospital-based and community-based.
In terms of type, the rotary-wing segment is expected to dominate the market during the forecast period. In terms of service model, the hospital-based segment is expected to dominate the market during the forecast period.
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Competitive Landscape
Some of the leading competitors are Envision Healthcare, Falck A/S, Air Methods Corporation, The Acadians, AirMed International, LLC, Express Aviation Services LLC, Lifeguard Air Ambulance, and among others
Some of the key observations regarding the air ambulance services industry include:
- In August 2017, Envision Healthcare announced a partnership with Air Medical Group Holdings (AMGH). The combination of AMGH and AMR will create an integrated medical transportation company with the capability to serve patients across multiple transport modalities in the patient’s time of need. The combined company is expected to transport more than five million patients per year through a fleet of air and ground ambulances across 46 states and the District of Columbia.
- In November 2020, Air Methods Corporation announced a partnership with HealthPartners, a consumer-governed, nonprofit healthcare organization based in Bloomington, Minnesota. The agreement enables Air Methods to provide HealthPartners plan members – totaling 1.8 million people across Minnesota, Wisconsin, Iowa, Illinois, North Dakota, and South Dakota – with critical air medical services at discounted in-network rates. The agreement includes commercial insurance, state public programs (SPP), and Medicare costs.
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