The report covers forecast and analysis for the air ambulance market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the air ambulance market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the air ambulance market on a global level.
As per the report, the global demand for air ambulance market was valued at approximately USD 4.53 billion in 2018 and is expected to generate revenue of around USD 9.12 billion by end of 2025, growing at a CAGR of around 10.52% between 2019 and 2025.
Air ambulances are devices which are well equipped with advanced and innovative medical facilities. These ambulances include tools and machineries that are used in critical and emergency situations to provide the patient with immediate medical assistance until they reach the nearest hospital or clinic. In addition, air ambulances are enabled to treat and diagnose patients in emergencies on their way to the hospital with qualified medical professionals. Air ambulance efficiently addresses the problem of insufficient access to remote locations as well as long distances challenged by road ambulances. Subsequently, air ambulance facilities have become a significant component of the modern healthcare system.
Worldwide demand for advanced air ambulance is growing at a rapid pace. Global demand for air ambulance market is expected to be driven by increasing number of cases of chronic, especially cardiac and infectious diseases, accidents, causalities which demands emergency medical response. Additionally, access to remote regions, expansion of the geriatric population, innovative medical therapy on board, medical infrastructure enhancements in the hospitality and sport sectors, high emergency medical requirements in war zones are major factors attributing to the growth of air ambulance market. Furthermore, favorable government reimbursement rules and regulations for air ambulance facilities increase patients demand for air ambulance services, which fuels the market growth. However, high prices of technologically advanced new air ambulance service, lack of adequate communication and stringent regulatory requirements may act as restraint for air ambulance market growth. Emerging countries are expected to bring new growth avenues for air ambulance market manufacturers. In addition, operational limitations, lack of facilities, insufficient quantity of aircraft in emerging nations, and the increasing incidence of air ambulance crashes also hinder market growth.
Based on aircraft type, the market is segmented into rotatory-wing aircraft and fixed-wing aircraft. Aircraft segment is further subdivided into helicopters, planes and seaplanes based on the sort of flight. Due to its ease of landing and taking off from a lower ground region, the helicopter section accounted for the biggest market share of both aircraft types. Also, it promotes wider reach in distant regions. Thus helicopter sector is expected to register highest CAGR over the forecast period.
Based on service, the market is segmented into hospital-based service and community-based service. The hospital-based service is expected to dominate the AAS market segment in 2018. The dominance is mainly due to the accessibility of immediate response by medical staff. Community-based services are provided by alliances with private businesses and other public health organizations.
North America dominated the global air ambulance market and accounted for highest market share in 2018. North America region is projected to lead the market over the forecast period with progress mostly focused in the U.S. market. Increase in number of geriatric population, infrastructure and technological development, rising incidence of chronic diseases, favorable reimbursement policies, and the increasing inclination of patients towards an effective and quicker method of delivery contribute to the development of the North American air ambulance industry. Europe was second largest air ambulance market in 2018 globally. Growing demand for technologically advanced and innovative aircrafts is the major factor driving the demand for air ambulance market in Europe. Asia Pacific is estimated to be growing at a highest CAGR over the forecast period. This high growth is attributable to increasing aging population in emerging economies like China and India along with increasing incidence rate of chronic diseases due to sedentary lifestyle, growing medical tourism, etc.
Some of the key players in air ambulance market include Air Medical Group Holdings (AMGH) Inc., PHI Air Medical, REVA Air Ambulance, IAS Medical, Express AirMed Transport, Native American Air Ambulance, Acadian, Scandinavian Air Ambulance, Deccan Charters, and Lifeguard Air Ambulance, among others.
Global Air Ambulance Market: Aircraft Type Segment Analysis
- Rotatory-wing Aircraft (Airplane and Seaplane)
- Fixed-wing Aircraft (Helicopter)
Global Air Ambulance Market: Service Segment Analysis
- Hospital-based Service
- Community-based Service
Global Air Ambulance Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa