SEATTLE, Jan. 23, 2020 /PRNewswire/ -- According to Coherent Market Insights, 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).
Key Trends and Analysis of the Global Air Ambulance Services Market:
Key trends in market include increasing strategic initiatives undertaken by key players such as collaborations, service portfolio expansion, and partnerships with business firms, sports, and entertainment events. For instance, in February 2017, American Medical Response, Inc., (AMR) is a medical transportation company entered into partnership with National Association for Stock Car Auto Racing (NASCAR) tournaments. This initiative is expected to help the company to attain organic growth as well as gain publicity in the global market.
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Moreover in February 2018, Air Medical Group Holdings announced about addition of 21 longstanding airbus helicopters to its fleet for air medical transport missions.
Furthermore, in May 2017, Air Med launched its first helicopter base in Silsbee, Texas. It is a twin engine, single pilot IFR EC135 with night vision goggle facility to provide air ambulance services in Texas.
Some key players operating in the market are focusing on geographical expansion, in order to increase their market presence. For instance in February 2019, Mercy Air, a division of Air Methods, announced opening of Mercy Air 66, a new base that will provide air medical services to the Barstow community. The new base will be located at the former site of the Barstow Community Hospital, U.S.
Furthermore, key players operating in the market are focused on adopting acquisition and collaboration strategies, in order to expand their service offerings in markets. For 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 with AMR on Hawaii operations since 2013. 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 Market Takeaways:
- The global air ambulance services market is expected to exhibit a CAGR of 9.3% over the forecast period, owing to improving global economy, increasing per capita health expenditure, availability of reimbursement plans, and rising prevalence of life threatening diseases such as diabetes, HIV and others, which are expected to drive the market growth over the forecast period. For instance, 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 estimated that the total diabetes population will reach nearly 700 million by 2045 globally.
- North America is expected to hold a dominant position in the global market, owing to presence of key service provider in the region such as Aero Care, Travel Care International, Angel MedFlight and others, and accessibility to supportive infrastructure for air medical transport.
- The key players operating in the market are focusing on strategic collaborations for providing lifesaving pre-hospital care to the patients that is expected to propel the market growth over the forecast period. For instance, in 2017, Flirtey, a drone delivery service, and REMSA, a community-integrated emergency medical services provider entered into a collaboration for the launch of first automated external defibrillator (AED) drone delivery service in the U.S. With the help of the innovative technology, the drones are expected to deliver automated external defibrillator (AEDs) and thereby increase the chances of patients surviving with cardiac arrest and ultimately save the lives of patients.
Key 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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Insights on similar topics:
Ambulance Equipment Market:
Rising number of ambulance services is the major factor augmenting growth of the ambulance equipment market. As ambulances equipped with advanced medical facilities, including devices used in emergencies, provide immediate medical care to the patient until he/she reaches the nearest hospital. Moreover, ambulances have trained medical crew onboard to treat patients in emergency situations en route to the hospital.
Ambulance Drone Market:
Drones hold the potential to transform the delivery of healthcare services. Drones can be especially useful in emergency situations. Applications include dropping of emergency equipment and medicines, conducting search and rescue operations, responding to natural disasters, collection of blood and tissue samples, and reaching out to remote locations for medical help.
Mr. Raj Shah
Coherent Market Insights
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Seattle, WA 98154
SOURCE Coherent Market Insights