Global Air Ambulance Services Market, by Service Type (Hospital-based Services and Community-based Services), by Aircraft Type (Helicopter, Drone Ambulance Aircraft/Airplane (Rotary Winged Aircraft and Fixed Winged Aircraft), and Seaplanes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
Presence of favorable reimbursement policies for air ambulance services in developed economies, such as the U.S., is anticipated to drive the market growth over the forecast period. For instance, according to the statistics provided by the Government Accountability Office (GAO), the Medicare and Medicaid payments accounted for around 30.0% and 12.0% of market revenue, respectively, while private insurers accounted for approximately 50.0% out-of-pocket payments, which are rare as air ambulance service is expensive.
Furthermore key players operating in the market are focusing on strategic partnership in order to expand their geographic presence and accounting for high market share in the global market. For instance, in April 2019, Air Methods entered into partnership with Anthem Blue, a health insurance company and Blue Shield, a healthcare plan provider company. These two companies provide health coverage benefits in six states in the U.S. Under the terms of the partnership, Anthem affiliated health plan members in California, Georgia, Nevada, Colorado, Virginia and New York will receive Air Methods’ critical care air services at discounted rates.
Browse 36 Market Data Tables and 30 Figures spread through 165 Pages and in-depth TOC on “Air Ambulance Services Market”- Global Forecast to 2027, by Service Type (Hospital-based Services and Community-based Services), by Aircraft Type (Helicopter, Drone Ambulance Aircraft/Airplane (Rotary Winged Aircraft and Fixed Winged Aircraft), Seaplanes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa),
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Key players in the air ambulance market are focusing on acquisition and collaboration with small players and investing in technologically advanced products across the globe. For instance, in April 2017, Air Medical Group Holdings, Inc. (AMGH), acquired Air Medical Resource Group (AMRG) of South Jordan, in order to increase critical care aircraft services and improve its presence in other geographies across the globe.
Key Takeaways of the Global Air Ambulance Services Market: