Air Ambulance Services Market Estimated To Witness High Growth

The 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.

The Air Ambulance Services Market provides timely medical transportation to critically ill or injured patients. Air ambulances transport patients from accident sites or trauma scenes to hospitals and between hospitals, allowing expedited transfers to specialty care centers or advanced treatment facilities. They provide medical care en route and contain advanced medical equipment tailored for emergency situations.

Market Overview:
Air ambulance services provide emergency medical transportation via helicopter or fixed-wing aircraft for critically injured or ill patients. The services enable speedy transportation of patients over long distances with emergency life support facilities. Advanced medical equipment such as ventilators, EKG monitors, suction pumps, defibrillators, and oxygen enable critical care and stabilization while airlifting patients. They offer increased scope for stabilizing unstable vital signs during transportation compared to ground ambulances.

Market key trends:
Growing incidence of trauma cases, road accidents, cardiovascular diseases, and other medical emergencies have increased the demand for air ambulance services across the globe. Additionally, these services enable transportation of patients from remote and rural locations unable to access immediate emergency care via ground transportation. Unlike ground ambulances, their capability to access accident sites directly and transport patients over long distances in less time makes them highly advantageous in emergency medical situations. Furthermore, increasing investments by governments and hospital networks to augment emergency medical helicopter fleets are expected to promote market growth over the forecast period.

Porter’s Analysis
Threat of new entrants: Low barriers to entry due to minimal infrastructure required. However, existing players enjoy economies of scale.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes like ground transportation.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative equipment suppliers and vendors.

Threat of new substitutes: Low threat as air ambulances offer most effective response during medical emergencies.

Competitive rivalry: Intense rivalry exists among key players to gain market share.

SWOT Analysis
Strengths: Air ambulances allow speedy transport of critical patients over long distances. They offer advanced medical facilities during transit.

Weaknesses: Higher costs of operations and vehicle maintenance. Dependence on weather conditions and availability of helipads.

Opportunities: Rising chronic diseases and road accidents in emerging nations present an opportunity. Scope for partnerships with hospitals and emergency centers.

Threats: Stringent regulatory norms. Congestion at airport runways and landing sites could impact operations.

Key Takeaways
The Global Air Ambulance Services Market Size is expected to witness high growth, exhibiting CAGR of 9.4% over the forecast period, due to increasing prevalence of chronic diseases and rising road accidents.

Regional analysis – North America dominates the market and is projected to continue its dominance during the forecast period. This is attributable to factors such growing elderly population and rising healthcare expenditure. Asia Pacific is expected to be the fastest growing market owing to increasing investments by key players and improving healthcare infrastructure in emerging countries.

Key players operating in the air ambulance services market are 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.


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