The global air ambulance market is expected to grow from USD 8.65 billion in 2022 to USD 20.07 billion by 2030, at a CAGR of 11.10% from 2022-2030. The North American air ambulance market is expected to maintain its dominance during the forecast period.

Market Introduction:

A vehicle is used to move people, things, and services. A vehicle's primary purpose is to facilitate the movement of people or goods. A vehicle explicitly made to transport patients to hospitals is an ambulance. In an emergency, they are also used to convey medical supplies. They are essential in the initial stages of patient care and are furnished with the fundamental medical tools needed to maintain the patient's stabilisation. An ambulance is also an emergency vehicle since it is used when a situation arises that calls for a quick response. The severity and risk of accidents, disasters, and other crises necessitate using vehicles like ambulances stocked with life-saving medical equipment. There are various kinds of ambulances, including standard, private, mobile ICU, and nursing care vans. An air ambulance is an emergency vehicle which travels by air. It is an aircraft with medications, machines and personnel necessary to offer emergency first-aid, similar to an ambulance van. Ambulances are furnished with anything from sophisticated medical equipment seen in hospitals to essential life-supporting medications and equipment. Emergency ambulances move patients from one site to the hospital for care in responding to emergencies. A disease or an injury could be an emergency. The emergency ambulance is always accompanied by paramedics and EMTs (emergency medical technicians) qualified to treat patients outside a hospital or emergency room.

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Recent Development

December 2022 - With opening a new air ambulance hub in Dalhart, Apollo MedFlight can now provide more immediate emergency transport services to locals everywhere. They have teamed with Dallam and Hartley Counties to provide memberships to every resident in those two counties. This is something that will benefit the entire region. The complimentary one-year memberships, available to all Dallam and Hartley Counties residents, entered into effect on October 1. Additionally, Apollo and the Dallam Hartley Counties Hospital District have partnered.

October 2022 - Two air mobility projects launched by the AI and Robotics Technology Park (ARTPARK), a not-for-profit organisation supported by the Indian Institute of Science (IISc), have the potential to significantly alter the healthcare industry. One of them is the creation of an unmanned aerial vehicle (UAV) for the delivery of human organs, and the other is the ambitious "Aero108" air ambulance, which has room for one patient, one operator, one paramedic (humanoid), and the patient's life support systems. Additionally, the car is capable of carrying 350 kilogrammes of useful stuff.

Market Dynamics:

Drivers

The increasing incidence of acute cardiovascular conditions – The modern world is associated with information technology and all aspects of economic units revolve around it. The transformation towards digitisation and automation has led to a majority of the job becoming sedentary in nature. The long working hours of an average individual divert them towards an unhealthy lifestyle given the lack of time and tiring schedules. The consumption of ultra-processed food with high-sugar content has increased with the growing expansion of food retail chains like McDonalds, dominoes, pizza hut and burger king. . The sedentary lifestyle combined with an unhealthy diet and no physical exercise has increased the incidence of cardiovascular diseases, among other acute and chronic conditions. Furthermore, the increasing global geriatric population is also vulnerable to cardiovascular diseases. The rising number of cardiac arrests and heart attacks in healthy young individuals has also become common. Acute cardiovascular diseases or cardiac arrests, and heart attacks are quick. Time is of the essence when it comes to cardiovascular diseases. Emergency medical aid is highly critical in these circumstances. Absence of which can lead to death. The need to treat patients quickly with life-threatening conditions can be met by air ambulances equipped with life-saving drugs, machines, and medical devices. They are quick in transportation, meaning the patient is delivered the necessary care without any delay, unlike road ambulance transportation. Therefore, the increasing incidence of cardiovascular diseases and conditions will propel the global air ambulance market’s growth.

Restraints:

Air ambulance is expensive – Air travel under normal circumstances is costly as it is. Air travel is the fastest mode of transportation or travel. The speed and time efficiency accorded by air travel is the driving force behind the high prices it demands. Air transportation utilises state-of-the-art technology, machines and equipment that create aircraft required for air travel. These machines, equipment and technology behind it are costly. Furthermore, the professionals who fly these aircraft are qualified, trained and skilled professionals who are also costly to hire. Air ambulances must be equipped with the necessary medicine logistics, including bedding, equipment, medication, devices and doctors or EMTs. The expensive nature of air ambulances and their services will limit the market's growth.

Opportunities:

Increasing government healthcare expenditure – The per capita medical healthcare expenditure varies across economies over a wide range. The developed countries have the highest per capita income, while the smallest, and under-developed countries have the lowest expenditure. The air ambulance market is predominantly private, given the lack of demand, considering the majority of the population cannot afford these services. However, the covid 19 pandemic has brought about the failures of government healthcare infrastructure and services in developed and underdeveloped countries. Government authorities worldwide have renewed their healthcare policies and infrastructure. They have focused on developing a better, more advanced, and effective healthcare sector. The governments have increased healthcare expenditure to improve the accessibility, affordability and quality of healthcare services with wider coverage. The increased expenditure will be utilised in developing state-owned air ambulances or occupying them for private players to be commissioned in public healthcare, given their efficiency in saving lives. The increased expenditure will also focus on teaching, training and inducting medical professionals for the understaffed first responders. Additionally, the increasing disposable income has increased the demand for air ambulances, encouraging the private players to improve and expand their services, thereby offering lucrative opportunities in the global market for the forecast period.

Challenges:

Lack of accessibility – The majority of the world's population is poor. They can barely afford three meals a day. The government is responsible for the welfare of every citizen, especially the ones who are poor and marginalised. Therefore, social services like education, health, food, water and sanitation are government responsibilities. These services are offered to all those in need. They need to be public. However, the underfunded and understaffed government healthcare institutions cannot cater to every citizen in need. The supply side of emergency first responders, including fire and EMTs, does not match the needs of the citizenry. The road ambulances are less than what is needed to meet all healthcare demands. The private players exploit such a market gap. However, the high prices of private healthcare are not accessible or affordable for the majority of the country's population. The private air ambulances are inaccessible to the majority, given their expensive natures and lack of awareness and information about these in the public domain. The underfunded public healthcare institutions cannot afford these ambulances, increasing the inaccessibility of these services.

Regional segmentation analysis:

The regions analysed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region emerged as the most significant global air ambulance market, with a 46.81% market revenue share in 2022. The North American region is home to the two most developed countries of the world, the United States and Canada. They have a high per capita expenditure in the healthcare sector. Their healthcare infrastructure is highly developed, and the presence of significant government and private medical, biotechnology, pharmaceuticals and IT companies drive innovation in the air ambulance market. The high disposable income in the region also contributes to the rising demand for private air ambulances. The increasing incidence of acute conditions like cardiac arrests, heart attacks, accidents and trauma cases has propelled the demand for the air ambulance. A significant geriatric population also contributes to the rising need for air ambulances for emergency and non-emergency purposes. The wide reimbursement policy coverage also contributes to the market's development.

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Aircraft type segment analysis

The aircraft type segment is divided into fixed-wing and rotary-wing. The rotary wing segment dominated the market with a market share of around 76% in 2022. Rotary-wing aircraft types are helicopters. They can take off and land vertically. They can land anywhere. They offer more or less the same speed as that fixed-wing aircraft. The flexibility, efficiency, versatility and time-saving features of rotary-wing aircraft drive its dominance in the market. Furthermore, they are cost-effective and ideal for a short to medium range of operation. They are cheaper than fixed-wing aircraft, increasing their demand by private hospitals or air ambulance providers. Rotary-wing aircraft are deployed for a variety of purposes and in a variety of terrains. They rescue accident victims from roads, mountains, lakes or other treacherous terrains. They are used to transport trauma cases or transplant patients. They are also used to transport transplanted organs.

Service type segment analysis

The service type segment is divided into hospital-based, independent and government. The independent segment dominated the market with a market share of around 45% in 2022. Independent segments are solely focused on offering air ambulances, which increases their efficiency and delivery time. Unlike the other two segments, they are highly effective and experts in the field. They partner with hospitals, government institutions or individuals according to their needs, requirements and demands. The operation of a vast number of air ambulances under their ambit allows them to reduce per capita expenditure. Independent contractors are ideal for hospitals as they don't have to worry about the logistics, maintenance and other details associated with owning an air ambulance/s. A hospital can focus its money, time and attention on bettering its primary roles and responsibilities.

Application segment analysis

The application segment is divided into inter-facility, organ transplant logistics, infectious disease services, rescue helicopter service, overweight patient transport, neonatal and paediatric transport and others. The rescue helicopter service segment dominated the market with a market share of around 27% in 2022. Natural disasters, or man-made disasters, accidents etc., can lead to several causalities and injured patients. Air ambulances are sought during these incidents, given that the road access is blocked with debris. Adventure accidents during treks climb, rappelling etc., often require helicopter rescue or medical evacuation through the air. Air ambulances are ideal in these instances. The increasing number of accidents and trauma cases has also contributed to the rising demand for rescue helicopter services. The growing congestion on roads is also a significant factor in increasing the demand for the segment.

Some of the Key Market Players:

• Acadian Ambulance
• Air Methods Corporation
• American Air Ambulance
• Babcock Scandinavians Air Ambulance
• European Air Ambulance
• Express Air Medical Transport
• Express Aviation Services
• Lifeguard Ambulance Service LLC
• PHI Air Medical
• REVA Inc.

Report Description: