Air Ambulance Services Market – Research Study, Development Status, Business Growth, Competitive Landscape, Trends by Forecast 2023
Global Air Ambulance Services Market: Information by Mission Profile (Inter-Facility Transports, Scene Response, & Other Missions), by Service Model (Hospital-Based, Community-Based, & Hybrid Model), by Aircraft Type, and by Region — Global Forecast till 2023
Pune, India – July 10, 2019 /MarketersMedia/ —
Air ambulance services cater to the urgent medical needs of people who are not in the proximity of nearby healthcare point. Air ambulance services are generally desirable in the case of events where transportation by land might cause risk to a patient’s safety. In such a situation, transportation by air is the most viable option. Air ambulance services refer to a blanket term covering the use of aircraft equipped with advanced medical support services. The use of air ambulance services has shot up considerably over the past few years.
Market Research Future (MRFR) has recently published a report on the global air ambulance services market covering the key trends and patterns that could affect the growth of the market over the forecast period of 2018-2023. After thorough analysis, MRFR has projected a CAGR of 8% over the forecast period.
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Perhaps, rise in the disposable income and growing affluence of consumers is the key factor propelling the growth of the air ambulance services market. With the rise in spending capabilities of the consumers, the demand for best healthcare services has inflated. Consumers do not shy away from procuring emergency medical services at a higher price. Moreover, the demand for air ambulance services has surged in remote locations where medical help is not available. The trend is seen to be gaining grounds in developing countries, especially in China, India, and Japan. The surge in the number of patients suffering from chronic diseases which require immediate attention is also among other major factors. Other factors include favorable reimbursement on air ambulance services and various government initiatives supporting market growth.
On the contrary, high cost is a major bottleneck to the market growth, which hinders expansion in price-sensitive regions.
Segmentation:
The air ambulance services market has been segmented based on mission profile, aircraft type, and service model.
By mission profile, the air ambulance services market has been segmented into inter-facility transports, scene response, and others. The inter-facility transports segment is estimated to capture the largest market share while the scene response segment will be the fastest-growing segment over the forecast period.
By aircraft type, the air ambulance services market has been segmented into fixed wing and rotary wing. The rotary wing segment is estimated to account for the larger share of the market owing to its easy maneuverability and navigation in tough terrains. However, the fixed-wing segment is also likely to exhibit substantial growth. Fixed wing aircraft typically accommodate more passengers and can travel farther distances without refueling which make them ideal as quality transportation fleet.
By service model, the air ambulance services market has been segmented into hospital-based model, community-based model, and hybrid model. The hospital-based segment is anticipated to be the largest segment, while the hybrid model segment will capture the highest CAGR over the forecast period.
Regional Analysis:
Region-wise, the air ambulance services market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America is the dominant air ambulance service market. The clustering of various leading market players gives the region leverage over others. These players are focused on gaining an edge over the market, which makes them engage in various growth strategies such as product innovation which fares well for the market. The US and Canada are the key contributors to the market since the demand for air ambulance services is considerably high in these regions.
The APAC market is poised to register the highest CAGR over the forecast period. The noteworthy growth rate of the APAC market can be credited to the economic upturn in the region. The rise of the middle class demographic, in particular, has fuelled the demand for sophisticated services and in turn, boosted the demand for air ambulance services. China, Japan, and India are the key players in the APAC air ambulance services market.
Competitive Landscape:
AMR Air Ambulance, Inc. (US), Alpha Star Air Ambulance (Saudi Arabia), IAS Medical (UK), PHI Air Medical, Inc. (US), Express Air Medical Transport, LLC (US), REVA, Inc. (US), Air Methods Corporation (US), Babcock Scandinavian Air Ambulance (Sweden), Air Medical Group Holdings, Inc. (US), and European Air Ambulance (Luxembourg) are the notable players in the air ambulance services market.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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