Air Ambulance Services Market Size to Reach USD 6,050.0 Million by 2026, on Account of Recent Innovations in Medical Service Helicopters: Fortune Business Insights™
Pune, April 07, 2020 (GLOBE NEWSWIRE) — The global air ambulance services market size is anticipated to reach USD 6,050.0 million by 2026 owing to the increasing urban population and rise in the R&D expenditure of advanced passenger drones worldwide. Air ambulance service is a medically well-equipped and innovative facility supported by government agencies, hospitals, and independent service providers to provide transport services via air to people in medical emergencies. A recently published report by Fortune Business Insights™ offers interesting insights and details into the market with prime growth trajectories. The report is titled, “Air Ambulance Services Market Size, Share & Industry Analysis, By Service Operator (Hospital-based, Independent, and Government), By Application (Inter-Facility, Rescue Helicopter Service, Organ Transplant Logistics, Others (Neonatal and Pediatric transport, Overweight Patient Transport, and Medical Equipment Transport)), By Aircraft Type (Fixed-Wing and Rotary-Wing), and Regional Forecast, 2019-2026.” according to which the market value was USD 4,220.9 million in 2018 and will witness rise of 4.71% CAGR between 2019 to 2026What are the Objectives of the Report?
The report offers a comprehensive overview of the market including drivers, restraints, challenges, and upcoming opportunities. It also lists the various segments of the market including factors such as service operator, application, aircraft type, and others. The report discusses the competitive landscape of the market, list of players, and the key strategies adopted by them to contribute the lion’s share to the market. current air ambulance services market trends, innovations, and other key industry developments are also provided in the market. The report is available for sale on the company website.
An Overview of the Impact of COVID-19 on this Market:
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Air Methods Dominating Market with Constant Product Innovations
The market for air ambulance services is dominated by Air Methods owing to their diverse portfolio and constant innovations in new helicopters by the company. Such initiatives will help earn high air ambulance services market revenue in the forecast period.
Medical Services Provided in Remote Locations will Help Expand Market Size
The technology used in helicopters for healthcare emergency services have witnessed a drastic improvement in the past years in terms of medical devices such as defibrillators, HER systems, heart monitors, communication equipment, for providing a patient’s real-time data to the medical staff at the hospital. This serves as a major factor promoting the air ambulance services market growth. In addition to this, the use of air ambulance services reduces transportation time and increases the chances of saving a life thus, adding boost to the market in the long run. This, coupled with the fact that air ambulances can provide medical aid even in remote locations is also expected to create lucrative growth opportunities for the market in the forthcoming years.
North America Emerged Dominant Owing to Presence of Several Healthcare Service Providers
Regionally, North America held the highest air ambulance services market share in 2018 with a revenue of USD 2,469.3 million. This is attributed to the presence of large number of service providers, and the developed infrastructure in Canada and the U.S. This, coupled with rise in awareness about better medical facilities and diagnostic options are also propelling the demand for aerial helicopter services in the region.
On the other side, the market in Asia Pacific and Europe will witness significant growth in the forecast period owing to the rise in government investments on improvement of helicopter services and rising number of air ambulance service providers in the respective regions. This includes recent investments between 2018 and 2019 in nations such as China, India, Germany, UK, France, among others. This, coupled with the increasing urbanization will provide lucrative growth opportunities for the market in the forecast period.