Air Ambulance Market Size is projected to reach USD 12.97 Billion by 2031, growing at a CAGR of 10%: Straits Research

New York, United States, Nov. 16, 2022 (GLOBE NEWSWIRE) — An air ambulance is an aerial vehicle with medical equipment and a crew of trained medical personnel operating it. In addition to moving seriously ill patients between hospitals, they are utilized to rescue victims in dire situations. Air ambulances are utilized to transport trauma patients. Their ability to reach patients in far-off places is their greatest advantage. The market for air ambulances is driven by an increase in the frequency of traffic accidents, military rescue and humanitarian missions, rescue operations at sea and in remote locations, and the demand for emergency medical services. However, it is projected that the market for air ambulance services will expand slowly in some regions because undeveloped countries lack the necessary healthcare facilities and aircraft.

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Aging Demographic Drives the Global Market

The aging population continues to be one of the major drivers of the rising demand for air ambulances, despite the fact that a number of other variables also play a role in the market’s expansion. The population of people 65 years of age and older is growing more quickly than any other age group globally, according to the United Nations (UN). The demand for better medical facilities and services, especially air ambulances, is increasing due to the fast-growing geriatric population.

Technological Development Creates Tremendous Opportunities

Because of technical breakthroughs and the utilization of cutting-edge, creative medical technology, the quality of care provided to patients being transported has substantially improved. The sending of real-time patient health data to the hospital is made possible by modern communications technologies, allowing the medical team to prepare for situations in advance. Air ambulances are equipped with critical care instruments, including a ventilator, heart monitor, and defibrillator, so that patients can receive urgent medical attention. Cost reductions for air ambulances are also possible because of technological developments.

Report Scope

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Regional Analysis

The air ambulance market is dominated by North America. The region holds a dominant market position because of the provision of suitable infrastructure, a clear regulatory framework, and advantageous reimbursement rules. The region continues to place a high priority on healthcare, and this focus will only grow in the years to come. As a result, the forecast period is expected to see favorable growth possibilities for the North American air ambulance market. In an effort to increase square mile coverage and access to medical care, the number of medical bases around the U.S. is increasing at an exponential rate, which is boosting the demand for air ambulances. As per the Association of Air Medical Services, in the United States, population coverage within a 15-20-minute response area increased from 71.2% in 2003 to 86.4% in 2016.

Europe follows North America in terms of value share in the global air ambulance market. Geographical coverage, population density, and governmental regulations all affect the variation in healthcare services in Europe. The region’s demand for air ambulances is fueled by growing wealth in developing nations and privatization brought on by austerity in affluent nations. A significant number of European insurance firms have recently listed air ambulances, which will undoubtedly increase their uptake in the years to come.

The industry is also booming in Asia-Pacific, where air ambulance services are on the rise because of supportive airspace laws, expanding infrastructure, and active investment programs. The need for air medical services has increased as a result of a rise in the incidence of heart attacks, strokes, and trauma in the area. Government support and easing of airspace restrictions encourage market growth in the area. For instance, in China, the State Council opened airspace below 3,000 meters for general aviation in 2016, greatly expanding the heights and routes that air ambulances in the nation could travel.

The growth of private specialty hospital buildings and the expansion of healthcare services into rural areas are driving up the need for emergency medical services in the Middle East. The UAE is the most economically developed and diverse market in the Middle East. Air transportation services are required to rapidly reach remote regions because the UAE is mostly made up of deserts. In Saudi Arabia, an increasing number of market players providing medical tourism and air ambulances are effectively driving the growth of the air ambulance market in the region. In Latin America, there has been an increasing number of requests for accreditation from air ambulance companies as a result of the growth of business travel and international markets in its various countries.

Key Highlights

• The global air ambulance market size was valued at USD 5.50 billion in 2022. It is projected to reach USD 12.97 billion by 2031, growing at a CAGR of 10% during the forecast period (2023–2031).
• Based on type, the global air ambulance market is divided into rotary-wing and fixed-wing air ambulances. The rotary wing air ambulance segment dominates the market.
• Based on application, air ambulance services can be categorized into community-based services and hospital-based services. Hospital-based services are anticipated to account for a larger market share throughout the forecast period.
• North America dominates the global air ambulance market and is expected to grow with the highest CAGR.

Some of the key players in the global air ambulance market are

• American Medical Response, Inc. (AMR)
• PHI Air Medical
• Babcock Scandinavian Air Ambulance (SAA)
• IAS Medical
• Express Air Medical Transport, LLC
• Air Methods
• Lifeguard Ambulance Service LLC
• REVA, Inc
• Acadian Air Med

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Global Air Ambulance Market: Segmentation

By Type

By Application

• Hospital-based services
• Community-based services

By Region

• North America
• Europe
• Asia-Pacific
• LAMEA

TABLE OF CONTENT

1. Introduction
   1. Market Definition
   2. Market Scope
2. Research Methodology
   1. Primary Research
   2. Research Methodology
   3. Assumptions & Exclusions
   4. Secondary Data Sources
3. Market Overview
   1. Report Segmentation & Scope
   2. Value Chain Analysis: Air Ambulance Market
   3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
   5. Market Share Analysis
4. Type Overview
   1. Introduction
      1. Market Size & Forecast
   2. Fixed Wings
      1. Market Size & Forecast
   3. Rotary Wings
      1. Market Size & Forecast
5. Application Overview
   1. Introduction
      1. Market Size & Forecast
   2. Hospital-based services
      1. Market Size & Forecast
   3. Community-based services
      1. Market Size & Forecast
6. Regional Overview
   1. Introduction
      1. Market Size & Forecast
   2. America
      1. North America
      2. U.S.
         1. By Type
         2. By Application
      3. Canada
         1. By Type
         2. By Application
      4. Mexico
         1. By Type
         2. By Application
      5. Latin America
         1. By Type
         2. By Application
   3. Europe
      1. Market Size & Forecast
      2. Germany
         1. By Type
         2. By Application
      3. France
         1. By Type
         2. By Application
      4. U.K.
         1. By Type
         2. By Application
      5. Italy
         1. By Type
         2. By Application
      6. Spain
         1. By Type
         2. By Application
      7. Rest of Europe
         1. By Type
         2. By Application
   4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
         1. By Type
         2. By Application
      3. China
         1. By Type
         2. By Application
      4. Australia
         1. By Type
         2. By Application
      5. India
         1. By Type
         2. By Application
      6. South Korea
         1. By Type
         2. By Application
      7. Rest of Asia-Pacific
         1. By Type
         2. By Application
   5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
         1. By Type
         2. By Application
      3. South Africa
         1. By Type
         2. By Application
      4. Kuwait
         1. By Type
         2. By Application
      5. Rest of Middle East & Africa
         1. By Type
         2. By Application
7. Company Profile
   1. American Medical Response Inc
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
   2. PHI Air Medical
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
   3. Babcock Scandinavian Air Ambulance
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
8. Conclusion & Recommendation
9. Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/air-ambulance-market/toc

Market News

• In May 2022, the establishment of AirLift Texas, a new base in Weslaco, Texas, will enable Air Methods, the top air medical service provider in the U.S., to offer emergency air medical services to the city and neighboring Rio Grande Valley cities. By opening the base, emergency and trauma situations will receive faster responses, and patients in need of specialist care will be transported between facilities.
• In September 2021, Blade Air Mobility acquired an organ-transporting company in Arizona for USD 23 million. The purchase, according to the firms, will become the largest specialized organ air transport provider in the United States.

News Media

Technological Advancements in Air Ambulance Has Led To Rampant Growth Of The Market

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