The global AIR AMBULANCE SERVICES MARKET is expected to reach USD 8.2 billion by 2025, according to a new report by Grand View Research, 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 the 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.
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 marketplace. For instance, in 2012 there were more than 300 players operating in this space with around 1,300 aircraft, and this number is likely to increase over the forecast period.
Browse Research Report on Air Ambulance Services Market:
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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Grand View Research has segmented the air ambulance services market by types, service models and region:
Air Ambulance Service Types Outlook (Revenue, USD Million; 2014-2025)
- Rotary-Wing
- Fixed-Wing
Air Ambulance Service, Service Model Outlook (Revenue, USD Million; 2014-2025)
- Hospital Based
- Community Based
View press release of this research report by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and healthcare.
For more information: www.grandviewresearch.com
