by Air ambulance services play a crucial role in emergencies where timely medical intervention is necessary. Air ambulances or air medical transport refers to medical evacuation via helicopter or airplane to transport trauma patients or those in need of critical care or inter-facility transfers between different healthcare facilities. They are well equipped with medical equipment and trained paramedics or medical teams to provide critical care during flight. They are often used to evacuate patients in remote or inaccessible areas to the nearest hospital or trauma center. The increasing number of accidents, medical emergencies, and trauma cases has substantially driven the demand for air ambulance services across the globe.
The global air ambulance services market is estimated to be valued at US$ 7371.8 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Increasing Incidences of Trauma Cases: Road accidents, natural disasters, gun-related injuries, and several other trauma incidences have increased manifold over the past few years. As per the data by World Health Organization, road accidents account for more than 1.3 million deaths globally each year. The rising trend of trauma cases has fuelled the need to shift critical patients quickly to hospitals via air ambulances with emergency equipment and medical teams. This remains a key driver propelling the air ambulance services market.
Improving Healthcare Infrastructure: Rapidly improving healthcare infrastructure with better network of hospitals, trauma centers, and critical care units across developed and developing regions has increased the reliance and significance of air ambulance services for quick transportation of critical patients. This, coupled with growing investment towards developing a robust emergency medical transport ecosystem, would augment the market expansion over the coming years.
Segment Analysis
The global Air Ambulance Services Market Demand is dominated by the emergency medical services (EMS) segment. This segment accounts for around 60% of the overall market share as ground and air ambulance are widely used for transporting patients in emergencies and critical conditions that require immediate medical attention. The EMS segment is followed by the medical evacuation segment which holds around 35% share. Medical evacuation services are used to transport patients from remote or rural areas to tertiary hospitals that have advanced medical facilities.
PEST Analysis
Political: Governments across the world are focusing on improving emergency medical services infrastructure. Favorable regulations related to the operations and reimbursement of air ambulance services are boosting market growth.
Economic: Rising disposable incomes and improving healthcare spending are driving the demand for more advanced and efficient emergency medical transport systems. High medical inflation is also propelling the need for air ambulances.
Social: Growing incidences of trauma injuries and time-critical illnesses along with an aging population prone to medical emergencies are major social factors fueling the air ambulance services market.
Technological: Integration of advanced medical equipment, IT solutions, and communication systems in air ambulances is enhancing service efficiency. Helicopters and fixed-wing aircraft with ICU-level facilities are gaining adoption.
Key Takeaways
The global Air Ambulance Services Market Demand is expected to witness high growth during the forecast period of 2024 to 2031 driven by a rising geriatric population, increasing road accidents, natural calamities and the growing demand for timely medical assistance in emergencies.
Regionally, North America accounts for around 45% share of the global market due to a well-established medical infrastructure and favorable insurance coverage for air ambulance services in the region. Europe is also a major regional market supported by government investments in emergency healthcare systems.
Key players operating in the air ambulance services market are Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., PerkinElmer Inc., Illumina, Inc., Bio-Rad Laboratories, Inc. Key players are focusing on fleet expansion, mergers, and strategic collaborations to enhance their service networks and capabilities. Thermo Fisher Scientific, Inc for instance operates over 200 aircraft globally specializing in neonatal, pediatric and adult critical care transport.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
