April 22, 2019
Worldwide air ambulance services market size is expected to exceed a valuation of $8.2 billion by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
As per the report, the market growth is mainly driven by the increasing prevalence of life-threatening diseases like cardiac disorders which require emergency medical attention. Moreover, rising attentiveness pertaining to air medical transportation services also supports market growth. Additionally, supportive reimbursement policies and rise in government support offering air ambulance services in established economies, such as the United States and Canada help people access these services despite the high cost of services.
According to the report, refining global expenditures have surged healthcare expenses. Over the last decade, the per head healthcare spending has surged exponentially. Data by the World Bank Group suggests that healthcare expenditures have surged by approximately 55% over the past decade. As a result, the demand for improved and faster health recovery has augmented. As per the report, factors like rising demand for early diagnosis and medical care and long-distance travel will help propel market growth during the estimated period.
Based on the type, the global air ambulance services market is bifurcated into Rotary-Wing and Fixed-Wing. In the year 2017, the Rotary-wing type was estimated to lead the global market because of extensive use of transportation for shorter distances. Meanwhile, fixed-wing air ambulance services constitute of aircraft with professional staff and well-equipped medical facilities, which are commonly used for long distance patient transportation. The fixed-wing air ambulances are business jets or private jets that are built to house medical facilities as well as the crew. With regards to the services model, the market is further segmented into community-based and hospital-based services model. According to the report, the hospital-based service was projected to dominate the global market in 2017. This development is chiefly attributed to the accessibility of emergency response by medical staff present in the air ambulance.
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In terms of regional growth, North America is expected to dominate the global air ambulance services market over the projected timeframe. This growth can be attributed to the availability of favorable organization for air medical transportation, supportive reimbursement policies, and a strong presence of external and local service providers in the region. However, Asia Pacific market is projected to witness dominating growth over the forecast period owing to its developing economic environment and considerable growth in air medical facilities in nations like India, China, and Japan. Also, presence of global industry majors supports the growth of this business vertical in the Asia Pacific market, cites the report.
The report also delivers an in-depth analysis of the air ambulance services market drivers, restraints, and opportunities over the estimated timeline. A detailed analysis of the market in terms of type, service model, and regional landscape has also been included in the report. In addition, company profiles of market majors have been outlined in the report under the heads of business overview, financials, product benchmarking, and recent developments.
The competitive landscape of the global air ambulance services market comprises of distinguished players like AMR, Scandinavian Air Ambulance, PHI Air Medical, IAS Medical, Native American Air Ambulance, Express AirMed Transport, Lifeguard Air Ambulance, Acadian, and REVA Air Ambulance among others. The key growth strategies practiced by these firms include launching innovative services and teaming up with other market leaders to increase their stake in the worldwide market, thereby boosting market growth over the foreseeable years.