May 18, 2024

Air Ambulance Services Market Is Estimated To Witness High Growth Owing To Rising Number Of Road Accidents

Advancements in medical equipment have enabled emergency medical service (EMS) professionals to provide enhanced pre-hospital and critical care in air ambulances. Air ambulance services provide timely medical assistance to accident victims located in remote and inaccessible areas.

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Key Takeaways

Key players operating in the Air Ambulance Services Market Size are Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., PerkinElmer Inc., Illumina, Inc., Bio-Rad Laboratories, Inc., Standard BioTools, GE HealthCare, Thermo Fisher Scientific, Inc., LI-COR, Inc., QIAGEN, Randox Laboratories Ltd. Key players are focusing on increasing their fleet sizes and service coverage to tap into new growth opportunities.

The rising incidence of emergencies and trauma cases worldwide presents lucrative opportunities for market players. Additionally, the growing geriatric population susceptible to chronic diseases and medical emergencies will drive the need for air ambulance services.

North America dominates the global air ambulance services market owing to supportive reimbursement policies and healthcare infrastructure. However, Asia Pacific is expected to witness the highest growth rate during the forecast period with the rising healthcare expenditure in developing nations like China and India.

Market drivers

The rising number of road accidents across both developed and developing nations has largely contributed to the growth of the air ambulance services market. According to the WHO, around 1.35 million people die each year as a result of road traffic crashes. Timely medical assistance is critical to reduce mortality among victims located in remote locations. This has increased the demand for air ambulance services for medical evacuations. Furthermore, favorable reimbursement policies for air medical transport in many countries have encouraged the adoption of air ambulance services.


PEST Analysis

Political: The air ambulance services market is regulated by governments and aviation authorities in various jurisdictions. Regulations around helicopter operations, medical evacuation, safety standards, insurance and reimbursement impact the market.

Economic: Changes in economic conditions impact demand for air ambulance services. Usage tends to rise with increase in disposable incomes as people can afford it for non-life threatening emergencies also. Higher insurance coverage drives the market.

Social: Aging population prone to medical emergencies and accidents drives need for quick transportation. People prefer air ambulance for time-critical emergencies in remote locations to reach hospitals fast. Rise in adventure sports and outdoor activities boosts the market.

Technological:Advancements in helicopter design with improved features for medical evacuations, navigation aids, medical equipment onboard, and safety systems have enhanced service quality. Telemedicine technologies enable experts to provide guidance during transport.

The regions accounting for a major share of the global market in terms of value are North America and Europe. North America holds the largest share due to high per capita income, good insurance coverage and presence of major service providers. Europe accounts for a significant portion due to rise in incidence of chronic diseases and accidents in the region.

The Asia Pacific region is projected to witness the highest growth rate during the forecast period due to rising healthcare infrastructure, increasing disposable incomes, developing insurance & reimbursement systems and growing medical tourism. Growing economies like China and India are expected to boost the demand for air ambulance services in the coming years due to expanding medical facilities in remote areas.

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