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Press Release: Air Ambulance Services Market to Surpass US$ 9,270.0 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Technological advancements in healthcare coupled with increasing patient inclination towards faster and efficient mode of transportation are expected to drive growth of the air ambulance services market over the forecast period. Air ambulance services refer to transport or evacuation facilities provided to patients in emergency situations at the accident site, home or hospital. Air ambulances are equipped with advanced medical facilities, including devices used in emergencies, to provide immediate medical care to the patient until patient reaches the nearest hospital or healthcare center. Moreover, air ambulances have trained medical professionals onboard to treat patients in emergency situations en route to the hospital. Air ambulance efficiently addresses the issue of long travel time and difficulty in reaching to remote areas faced in road ambulance service. Thus, air ambulance services have become an essential component of the modern healthcare system.
The global air ambulance services market is estimated to be valued at US$ 4,934.9 million in 2020 and is expected to exhibit a CAGR of 9.4% over the forecast period (2020-2027).
Figure 1. Global Air Ambulance Services Market Share (%) in Terms of Value, By Region, 2020
Increasing incidence of life threatening diseases that require emergency medical response is expected to propel the market growth over the forecast period
Rising incidence of life threatening diseases such as cancer, diabetes, neurological conditions, coronary heart disease, and HIV is expected to drive the market growth. For instance, according to the World Health Organization 2018 report, around 18.1 million new cancer cases were diagnosed in 2018 globally and around 9.6 million deaths occurred due to cancer in 2018 globally. According to the same source, 1 in 5 men and 1 in 6 women worldwide develop cancer during their lifetime.
Moreover, according to the International Diabetes Federation report published in November 2019, around 463 million adults between the age group of 20 to 79 years were diagnosed with diabetes and it is expected that the total diabetes population will reach around 700 million by 2045 globally.
According to the American Heart Association, in January 2019, stroke is a leading cause of death in the U.S. with around 2.7 million people in the country living with atrial fibrillation and around 800,000 people encounter a stroke, annually due to blockage in the blood vessel, which supplies blood to the brain. Therefore, increasing prevalence of stroke is expected to boost growth of the air ambulance services market.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2020: | US$ 4,934.9 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 9.4% | 2027 Value Projection: | US$ 9,270.0 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Air Methods Corporation, Deccan Charters, Scandinavian Air Ambulance, Air Ambulance Specialists, Air Charter Service, Envision Healthcare Companies, Falck Danmark A/S, AMR Air Ambulance, AirMed International, and Express Aviation Services. |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Figure 2. Global Air Ambulance Services Market Share (%), by Service Type, 2020
Increasing adoption of expansion strategies by key players operating in the market is expected to propel the market growth over the forecast period
Key players operating in the global air ambulance services market are focusing on geographical expansion, in order to expand their business globally.
For instance, in August 2019, AirLife North Carolina, a division of Air Methods, announced launch of its new base in Lumberton, North Carolina, U.S. The base is expected to focus on offering air ambulance services in emergency and trauma situations.
Moreover, in February 2018, Babcock Scandinavian Air Ambulance (BSAA) launched the very first state-of-the-art AW169 helicopter in active Emergency Medical Service (EMS) duty in Nordic countries.
Moreover, some major companies are focused on adopting acquisition strategies, in order to expand their business and enhance their market share. For instance, in April 2019, AirMed International acquired AMR Air in Denver and Lifeguard Flying ICU in Las Vegas, U.S. and as a result of this acquisition, AirMed is focusing on expanding their air ambulance services in the global market.
Global Air Ambulance Services Market – Impact of Coronavirus (Covid-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in more than 72.3 million infected individuals worldwide as of December 14, 2020.
Due to COVID-19, air ambulance services providing companies had to update their equipment to follow new safety guidelines. The key players operating in the market are updating their services in order to combat the effects of COVID-19. For instance, ACE Air & Ambulance (Pvt) Ltd, an internationally accredited air ambulance operator company, purchased specialized ISO-Chamber equipment to transport COVID-19 patients. This will expand their ability to transport infectious disease patients in the future.
Global Air Ambulance Services Market: Restraints
Lack of healthcare infrastructure and inadequate number of aircraft in emerging economies are expected to hamper growth of the air ambulance services market over the forecast period.
Key Players
Major players operating in the global air ambulance services market include Air Methods Corporation, Deccan Charters, Scandinavian Air Ambulance, Air Ambulance Specialists, Air Charter Service, Envision Healthcare Companies, Falck Danmark A/S, AMR Air Ambulance, AirMed International, and Express Aviation Services.
Air ambulance service is an advanced medical service, which uses air transportation such as airplane and helicopters. It is the most effective and vital mode of transportation in case of a medical emergency at the hospital, accident site, and home. It helps to shift critical patients to hospitals and consumes less time to travel. It comprises trained medical staff and is equipped with medical treatment facilities used in emergencies to treat patients and provide immediate medical care in the emergency. It is effective in serving people in war-torn areas and those affected by natural disasters.
Market Dynamics
Increasing adoption of inorganic growth strategies such as acquisitions and collaborations by key players operating in the market is expected to propel the market growth over the forecast period. For instance, in May 2018, LifeSave KūPono, a critical care air ambulance company, acquired AMR’s Air Ambulance Operations in Hawaii. Also known as AirMD, LLC d/b/a LifeTeam, LifeSave has worked in partnership for patient care with AMR on Hawaii operations since 2013 by providing aviation services. With this acquisition, LifeSave expanded its air ambulance services in Hilo, Honolulu, and Maui, which helps them to increase their market share in the global market.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 36 market data tables and 30 figures on "Air Ambulance Services Market” - Global forecast to 2027.
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