The global air ambulance services market is expected to reach USD 8.2 billion by 2025, according to a new report by Radiant Insights, Inc. Increasing incidents of life-threatening diseases, such as cardiovascular disorders, that require emergency medical response support the lucrative growth of the market over the forecast period. In addition, increasing awareness about air medical transport services also spurs growth of this market. Furthermore, Availability of reimbursement in developed countries, such as the U.S., helps people avail these services despite the high cost.
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Improving global economy led to increased spending, which resulted in increased spending on healthcare. The per capita healthcare expenditure has increased exponentially over the last couple of decades. This per capita health expenditure increased by about 55.0% from 1996 to 2014 as published by The World Bank Group. As a result, the demand for these services has been increasing over the forecast period.
This industry is capital intensive, yet there exhibits constant entry of new players, which has helped maintain the supply-demand balance in fierce market place. For instance, in 2012 there were more than 300 players operating in this space with around 1,300 aircrafts, and this number is likely to increase over the forecast period.
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Further Key Findings From the Study Suggest:
• Rotary-wing air ambulance services, which include helicopter-based services, held a lucrative share in 2015. Easy usability of helicopters and low cost of these services governed their dominance.
• Fixed-wing services include specialized aircrafts having medical facilities and dedicated crew. Rising medical tourism and operability of these aircrafts in adverse weather conditions are few reasons for their increased demand.
• Hospital based service dominated service model segment in 2015 and also anticipated to grow at healthy rate over the forecasts period.
• North America dominated the global air ambulance market in 2016 due to established infrastructure for air medical transport.
• Asia Pacific is anticipated to gain lucrative share over the forecast period. Strengthening economy, especially of countries such as India and China, investments from global conglomerates, and improving business opportunities are likely to provide growth avenues for players.
• Some of the key players in this vertical include AMR; PHI Air Medical; Scandinavian Air Ambulance; IAS Medical; Express AirMed Transport; Native American Air Ambulance; Lifeguard Air Ambulance, REVA Air Ambulance and Acadian.
• Strategic initiatives undertaken by these players include collaboration, service portfolio expansion, and partnerships with business firms & sports and entertainment events.
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About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assists and facilitate organizations and individuals procure market research reports, helping them in the decisions making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
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