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Air Ambulance Services Market

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Air Ambulance Services Market
Air Ambulance Services Market Research Report - Global Forecast till 2024
Air Ambulance Services
Market Research Report -
Global Forecast till 2024
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Copyright © 2017 Market Research Future.
Air Ambulance Services Market Research Report - Global Forecast till 2024
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Copyright © 2017 Market Research Future.
Air Ambulance Services Market Research Report - Global Forecast till 2024
Summary:
The Global Air Ambulance Services Market is expected to reach USD 11,456.3 million by 2024 at a CAGR of 2.95%
during the forecast period.
Market Overview:
Air ambulance manufacturers are investing heavily in advanced technologies to reduce costs and improve
turnaround time. For instance, 3D printing is dramatically changing the way structures and components of aircraft
are currently designed and manufactured. It reduces the design constraints that engineers face when using
conventional fabrication techniques. Furthermore, the ability to fabricate functional electronics into complex
structures using 3D printing allows manufacturers to offer air ambulances that operate effectively in adverse
conditions such as inclement weather, tsunamis, droughts, and cyclones.
Segmentation:
The global air ambulance services market has been segmented on the basis of transport vehicle, aircraft type,
service model, and mission profile.
By transport vehicle, the global air ambulance services market has been classified as air and ground. The ground
segment is projected to dominate the market with a valuation of USD 7,911.7 million in 2018 and reach USD
9,330 million by 2024. This is due to the high utilization of ground vehicles such as small air-conditioned vans and
full-size vans with all the necessary equipment for life support and medication. Moreover, these air-conditioned
ambulances mimic the environment of an ICU. The air segment is expected to exhibit a CAGR of 3.69% during
the forecast period.
Based on aircraft type, the global air ambulance services market has been divided into fixed-wing and rotary-wing.
The rotary-wing segment is expected to lead the market with a value of USD 6,086.8 million in 2018 and reach
USD 7,039.9 million by 2024. Rotary-wing aircraft are equipped with vertical lift rotors. These aircraft offer
various benefits such as vertical take-off and landing (VTOL), hover capabilities, and easy maneuverability. As a
result, these aircraft are widely deployed in rescue operations, as air ambulances, and related applications. The
fixed-wing segment is expected to register a 3.78% CAGR during the forecast period.
On the basis of service model, the global air ambulance services market has been classified as community-based,
hospital-based, and hybrid. The hospital-based segment is accounted for the largest market share in 2018. Hospitalbased models provide air medical transportation services to patients. Under this service model, the hospital owns
the program and provides the medical personnel, while air ambulance service providers offer aircraft operation and
maintenance. Air ambulance services and facilities can, therefore, vary from hospital to hospital. This model is
suitable for organized, advanced hospitals where investments in air ambulance service facilities are possible.
Based on mission profile, the global air ambulance services market has been classified as inter-facility transport,
scene response, and others. The inter-facility transport segment is dominating the market with a valuation of USD
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Copyright © 2017 Market Research Future.
Air Ambulance Services Market Research Report - Global Forecast till 2024
6,125.1 million in 2018. Inter-facility transport is the movement of a patient from one healthcare facility to another
using an air ambulance. The medical direction during inter-facility transport is a shared responsibility. This
transport facility is beneficial if a particular medical facility is not available in at the hospital and the patient
requires to be shifted to another medical facility.
Regional Analysis:
The global air ambulance services market has been segmented, by region, into North America, Europe, AsiaPacific, and Rest of the World.
North America is leading the market with a valuation of USD 6,298.6 million in 2018. The presence of major
market players, such as Air Methods, Air Medical Group Holdings (AMGH), and Acadian Companies, is expected
to drive market growth in North America. The regional market is expected to grow at a CAGR of 2.08% during the
forecast period.
Europe is projected to be the second-largest market during the review period. The regional market is expected to
reach USD 2,620.1 million by 2024 at a CAGR of 4.19% during the forecast period. Asia-Pacific is projected to be
the third-largest market during the review period. The regional market is expected to reach USD 1,489.3 million by
2024 at a CAGR of 5.40% during the forecast period.
Competitive Dashboard:
The key players in the global air ambulance services market are Air Methods (US), Air Medical Group Holdings
(AMGH) (US), ALPHASTAR (Saudi Arabia), Babcock Scandinavian AirAmbulance (Sweden), Acadian
Companies (US), European Air Ambulance (Luxembourg), Express Aviation Services (US), IAS Medical (UK),
PHI Air Medical (US), and REVA, Inc. (US).
Industry Updates:
•
In August 2018, Air Methods partnered with Anthem, Inc. to provide its consumers with access to
emergency medical services as part of the in-network health coverage benefits. The partnership covers
consumers enrolled in Anthem affiliated health plans in Indiana, Kentucky, Missouri, Ohio, and Wisconsin
in the US.
•
In March 2018, Air Medical Group Holdings and American Medical Response merged to form Global
Medical Response with an aim to enhance their position in the air ambulance services market.
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