by The Air Ambulance Services Market is estimated to be valued at US$ 6399.13 Mn or in 2023 and is expected to exhibit a CAGR of 9.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Air ambulance services involve transportation of patients via air from accident sites or remote areas to the nearest hospitals. Helicopters are commonly used in air ambulance services to transport critical patients in case of accidents, medical emergencies, and disasters. These services help in faster transportation of patients in critical conditions to advanced medical care. The air ambulance market covers a range of medical transportation services including neo-natal transfers, organ transports, aeromedical transfers and medical evacuations.
Market Dynamics:
Increasing road accidents and medical emergencies are a key growth driver for the air ambulance services market. According to WHO, around 1.35 million people die each year as a result of road accidents globally. Most of these casualties require emergency transportation to urgent medical care. Since air ambulance can reach accident sites faster and transport critical patients quickly, the demand is growing steadily. Additionally, aging population has led to rising prevalence of chronic diseases such as diabetes, cardiovascular diseases, and cancer which often require timely medical intervention. This has also boosted the need for speedy medical evacuation services globally. Furthermore, growing medical tourism especially in developing economies has augmented cross-border patient transportation via air ambulances contributing to market growth.
Segment Analysis
The air ambulance services market is dominated by the emergency medical services (EMS) sub-segment. This sub-segment accounts for over 60% of the market share due to the increasing incidence of fatal road accidents and trauma events worldwide. EMS air ambulances provide crucial medical care and transportation during medical emergencies and are equipped to deal with severe injuries and time-critical conditions.
PEST Analysis
Political: Favorable regulations regarding insurance coverage for air ambulance services in many countries are boosting the market growth. Economic: Rising disposable incomes have increased the demand for advanced emergency medical services including air ambulances. Social: Growing prevalence of lifestyle diseases and road accidents has led to an increased need for speedy medical transportation. Technological: Use of advanced medical equipment along with GPS, communication systems in air ambulances has improved patient monitoring and care during transit.
Key Takeaways
The Global Air Ambulance Services Market Size is expected to witness high growth, exhibiting a CAGR of 9.4% over the forecast period, due to increasing incidence of time-critical illnesses and injuries globally.
North America dominated the air ambulance services market and accounted for over 40% market share in 2023 due to the early adoption of advanced medical aircrafts in emergency response. However, Asia Pacific is expected to witness the fastest growth during the forecast period owing to rising healthcare spending and increasing investments by key players in developing economies.
Key players operating in the 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, Express Aviation Services, and ALPHASTAR. These players are focusing on expanding their global footprint and fleet capabilities with advanced aircrafts to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
