Impact Analysis of Covid-19
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.
Air Ambulance Services Market – Market Insights
Technological advancements in healthcare coupled with increasing patient inclination towards faster and efficient mode of transportation are expected to drive growth of 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 inadequate reach to remote areas faced in road ambulance service. Thus air ambulance services has become an essential component of the modern healthcare system.
The global air ambulance services market is estimated to be valued at US$ 4,524.7 million in 2019 and is expected to exhibit a CAGR of 9.3% over the forecast period (2019-2027).
Figure 1. Global Air Ambulance Services Market Value (US$ Mn), by Region, 2019
Source: Coherent Market Insights Analysis (2020)
Increasing incidences of life threatening diseases that require emergency medical response is expected to propel the market growth over the forecast period
Rising incidences 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 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.
However, lack of healthcare infrastructure and inadequate number of aircraft in emerging economies is expected to hamper growth of the air ambulance services market over the forecast period.
Figure 2. Global Air Ambulance Services Market Share (%), by Service Type, 2027
Source: Coherent Market Insights Analysis (2020)
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 launching of 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.
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.
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