February 23, 2024
Air Ambulance Services Market

Rising Demand For Emergency Medical Air Transport To Boost Growth Of The Air Ambulance Services Market

The global Air Ambulance Services Market is estimated to be valued at US$ 6399.13 Mn 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 provide emergency medical air transportation for patients requiring intensive care and critical care facilities. They are capable of addressing emergency situations and transporting patients to and from remote locations. Air ambulances are specially designed aircrafts equipped with medical facilities like ventilators, defibrillators, oxygen supply and other life support systems. They provide a valuable service in emergency medical evacuation and inter-hospital transfer of patients who need critical care during transportation. The services help save lives by transporting patients to the required medical facilities safely and in a timely manner. They play an important role in emergency medical services especially in areas with difficult terrain or in disasters where the road access is compromised.

Market key trends:

Growth in the number of trauma cases and medical emergencies coupled with increasing road accidents have significantly raised the demand for air ambulance services over the years. As per the World Health Organization, road injuries are estimated to be the leading cause of death globally for children and young adults between 5–29 years. Additionally, rising cases of chronic diseases like cancer, cardiac diseases etc. requiring intensive care and timely medical intervention have fueled the adoption of air ambulance solutions for critical patient transport. Furthermore, technological advancements in aircraft design for medical transport along with the integration of life support medical equipment have added efficiency and safety to air ambulance operations. The increasing focus on upgrading emergency medical services (EMS) particularly in developing nations is expected to create new opportunities for players in the air ambulance services market during the forecast period.

Porter’s Analysis

Threat of new entrants: Low due to the high initial costs of medical equipment and certification required to operate air ambulance services.

Bargaining power of buyers: Moderate as major buyers are hospitals and patients don’t have much say in choosing the service provider in emergencies.

Bargaining power of suppliers: Low owing to the availability of various medical equipment manufacturers and helicopter providers.

Threat of new substitutes: Low as there aren’t many viable alternatives available for emergency medical air transportation.

Competitive rivalry: High among existing providers to gain market share through expansion to new regions and airports.

Key Takeaways

The Global Air Ambulance Services Market Share is expected to witness high growth, exhibiting CAGR of 9.4% over the forecast period 2023 to 2030, due to increasing incidence of trauma cases and cardiovascular diseases. The market size for 2023 is US$ 6399.13 Mn.

Regional analysis: North America dominates the air ambulance services market currently owing to the high medical costs in the regions. The Asia Pacific region is expected to grow at the fastest pace during the forecast period with increasing healthcare expenditures in countries like India and China.

Key players: 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, ALPHASTAR. They are focusing on expansion of fleet capability and service network to remote areas.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it