An increase in the number of service providers coupled with advanced onboard medical treatment is estimated to stimulate market demand.
New York, NY -- (SBWIRE) -- 04/21/2021 -- Air Ambulance Services Market Size – USD 4.79 billion in 2018, Industry Growth - CAGR of 8.7%, Industry Trends – An Increasing breadth of health insurance coverage
The global air ambulance services market is expected to reach USD 9.51 Billion by 2026, according to a new report by Reports and Data. Air ambulance services are the transferring of patients either from the site of an accident to a hospital or between hospitals to make advanced medical care at a specialty facility like a trauma, burn or cardiac centers to be provided to the patient.
The market is anticipated to be driven by the offering of onboard medical assistance, availability of better reimbursement policies, increasing emphasis by governments worldwide to provide improved emergency health care services coupled with a growing demand for the same among masses. Advanced technological developments in providing onboard medical treatments are causative of several new players entering the market to seize the opportunity and this, in turn, is expected to drive the market growth.
Rising incidents of fatal diseases comprising cardiovascular disorders that involve emergency medical services are estimated to fuel the growth of the market in the upcoming years. Moreover, growing awareness regarding air ambulance services is also expected to boost market demand in the future.
High cost associated with the services and occurrences of air ambulance accidents may create hindrances in the growth of the market in the forecast period.
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The Key Companies Profiled in the Market are:
AMR, PHI Air Medical, Scandinavian Air Ambulance, Express AirMed Transport, IAS Medical, Lifeguard Air Ambulance, Native American Air Ambulance, REVA Air Ambulance, Acadian, and Falck Danmark A/S among others.
Further key findings from the report suggest
Rotary-wing aircraft type which comprises helicopter-based air ambulance services contributed to the largest market share with a share of more than 60% in 2018 and is expected to grow at a CAGR of 8.5% during the forecast period. Helicopter ambulances are deployed in transport over short distances. Besides, the ability of the helicopters to land smoothly on places including rooftops, and streets among others is causative of the increased accessibility of this type of aircraft.
In terms of services model type, the global market was led by hospital services and is forecasted to witness a growth rate of 8.4% in the forecast period. Hospitals, particularly in developed nations, manage the business by offering medical services and staff while contracting out with an air ambulance supplier for the aviation component.
The market in the Asia Pacific region is projected to witness the fastest growth rate of 9.5% during the forecast period. This can be attributed to the increase in investment and improving economic conditions in the countries including China and India, in this region. Further, investments from big market players owing to the availability of cheap workforce is also expected to drive the market in this region during the forecast period.
In May 2018, LifeSave KÅ"Pono, a critical care service provider in the market announced the purchase of AMR's Air Ambulance Operations in Hawaii. Also popular as AirMD, LLC d/b/a LifeTeam, LifeSave has operated in partnership for patient care with AMR on Hawaii operations since 2013 by offering aviation services, and with the sale has assumed the full authority of the medical bases located in Hilo, Honolulu, and Maui.
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For the purpose of this report, Reports and Data have segmented global air ambulance services market on the basis of aircraft type, service model type, service type, and region:
Aircraft Type Outlook (Revenue, USD Million; 2016-2026)
Fixed Wing
Rotary Wing
Service Model Type Outlook (Revenue, USD Million; 2016-2026)
Hospital-Based
Independent
Government Run
Service Type Outlook (Revenue, USD Million; 2016-2026)
Medical Evacuation and Repatriation
Medical Escort Service
Regional Outlook (Revenue, USD Million; 2016-2026)
North America
U.S.
Europe
UK
France
Asia Pacific
China
India
South-east Asia
Latin America
Brazil
MEA
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2016-2026
Chapter 3. Indicative Metrics
Chapter 4. Air Ambulance Services Segmentation & Impact Analysis
4.1. Air Ambulance Services Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increase in number of service providers
4.2.2.2. Easy access to remote areas
4.2.2.3. Advanced onboard medical treatment
4.2.2.4. Increasing instances of chronic and infectious diseases
4.2.3. Market restraints analysis
4.2.3.1. High cost associated with this service
4.2.3.2. High Capital Investments
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
………………
Chapter 9. Competitive Landscape
9.1. Market Revenue Share by Manufacturers
9.2. Manufacturing Cost Breakdown Analysis
9.3. Mergers & Acquisitions
9.4. Market positioning
9.5. Strategy Benchmarking
9.6. Vendor Landscape
Chapter 10. Company Profiles
10.1. AMR
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Technology Insights
10.1.4. Strategic Initiatives
10.2. PHI Air Medical
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Technology Insights
10.2.4. Strategic Initiatives
Continued…..
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