Air ambulance is an aerial vehicle of air evacuation or transportation facility offered to patients in case of emergencies. It can be an airplane or helicopter that is equipped with medical supplies & relevant tools to ensure best healthcare and convenience during transportation. It includes skilled medical professionals who provide immediate cure to the patient till the ambulance reaches the nearest hospital. It includes many equipment such as monitoring systems, breathing apparatus, and defibrillators. The service reduces the risk of road congestion and is most convenient in areas affected by wars, natural disasters, and epidemic outbreak. It facilitates faster travel in comparison to on-road ambulance services. It provides a well-organized and on-time passage in cases of critical medical emergencies for instance road accidents or burn incidents.
According to study, “Global Air Ambulance Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” the key companies operating in the global air ambulance market are Air Methods, Metro Aviation, Air Medical Group Holdings, ADAC Service GmbH, PHI, Royal Flying Doctor Service, Rega, REVA Air Ambulance, DRF, Native American Air Ambulance, AMR, Scandinavian Air Ambulance, FAI, Lifeguard Ambulance, Capital Air Ambulance, Airmed International, MED FLIGHT, Yorkshire Air Ambulance, Deer Jet, JAIC. Major firms are directing on small firms with a working methodology of securing the end objective to manage position in the market and are associated with mergers & acquisitions (M&A), and innovative item advancement to pick up profit share in the business.
Based on service type, air ambulance is segmented into fixed wing (helicopter) and rotary wing (airplane and seaplane). Fixed-wing air ambulance services segment includes particular airplane with well-equipped medical facilities and staff. The rotary wing segment is projected to dominate market owing to rise in use of transportation for shorter distances. Based on service model, market is segmented into community-based services model and hospital-based services model. The community-based services model is given by partnerships with public health organizations and private companies. Additionally, the hospital-based service model is estimated to witness the market due to rise in availability of emergency response by medical crew present in the air ambulance during the forecast period. In addition, based on application, market is segmented into transport applications, aid application, doctor’s attendance application and others.
The air ambulance market is driven by rise in number of service provider, followed by improvement in reimbursement methods by government or health insurance companies, growth in healthcare expenditure, increase in number of multinational hospitals equipped with appropriate air-ambulance services, growth in medical infrastructure in rural regions, rise in per capita income, increase in proper reimbursement policies, growth in geriatric population, improvement in economic conditions and rise in prevalence rate of cardiovascular diseases. However, high cost associated with treatment may impact the market. Moreover, rise in government support for air ambulance services and favorable reimbursement guidelines are key opportunities for market.
Based on geography, the North-American region holds major share in air ambulance market owing to rise in availability of supportive organization for air medical transportation, and high presence of local & external service providers in the region. Whereas, the Asian-Pacific and European regions are predicted to witness higher growth rate due to growth in air medical facilities and improvement in economic environment over the forecast period. In upcoming years, it is expected that future of the market will be bright on account of rise in breadth of insurance coverage during the forecast period. The worldwide market is projected to grow at a CAGR of approximately 5.2% over the next five years, will reach US $9500 million in 2024, from US $7030 million in 2019.
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