USD 15.73 billion
Report ID: SQSG20S2003 | Region: Global | Published Date: April, 2023 | Pages: 272 | Tables: 62 | Figures: 76
Air Ambulance Services Market size was valued at USD 15.73 billion in 2021 and is poised to grow from USD 17.4 billion in 2022 to USD 43.08 billion by 2030, growing at a CAGR of 10.6% in the forecast period (2023-2030).
The World Health Organization (WHO) claims that chronic diseases are the major cause of death globally, accounting for approximately 60% of all fatalities. In middle- and low-income nations, chronic diseases account for about 80% of fatalities. By 2025, it is predicted that chronic diseases would impact more than 49% of the population in the United States. Stroke and cardiac conditions are responsible for 30% of deaths in the United States. Globally, cardiovascular illnesses are the main killers. The second most prevalent cause of mortality worldwide is a stroke. According to the WHO, by 2022, chronic diseases would be responsible for around three-quarters of all fatalities worldwide, with ischemic heart disease and stroke accounting for 71% and 75%, respectively, of those fatalities.
Heart conditions are very common in China and India. Chronic conditions like heart disease and stroke typically call for emergency medical care. In these urgent medical cases, air ambulance services offer quick response. For patients with cardiac, stroke, chronic obstructive pulmonary diseases, and trauma, air ambulances are outfitted with cutting-edge and creative medical care.
During the projection period, the presence of a sizable population pool over 60 years old, which often has a lower immunity level and is susceptible to neurological disorders, heart difficulties, cancer, and spinal injuries, is likely to have a significant positive impact on the market's growth. The WHO predicts that by 2050, there will be approximately 1.5 billion individuals in the world who are 65 or older, up from an estimated 524 million in 2010. The elderly are particularly vulnerable to illnesses like obesity, osteoporosis, arthritis, heart attacks, and strokes. Such disorders may necessitate both an emergency and non-emergency ambulance service approach for patients. The demand for air ambulance services is projected to rise as the elderly population grows.
US Air Ambulance Services Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 15.73 billion
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Global air ambulance services market is segmented by service operator, aircraft wing and region. Based on the Service Operator, the Global Air Ambulance Services Market is segmented as Hospital-Based, Government, Independent. Based on the Aircraft Wing, the Global Air Ambulance Services Market is segmented as Fixed-Wing, Rotary-Wing. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Air Ambulance Services Market Analysis by Service Operator
Global air ambulance services market has been divided into three categories based on service providers: independent, government, and hospital-based. Due to an increase in collaboration between private and community health organisations, the independent category is anticipated to experience a considerably high rate of revenue growth throughout the projection period. The cooperation between community health groups and the company owners they hire is an example of how a mixed public-private Helicopter Emergency Medical Service (HEMS) model can be advantageous. The public-private partnership is effective because it adopts a long-term perspective and offers long-term contracts that give air service providers the security they need to make significant capital investments in infrastructure, organisational structures, and equipment.
Air Ambulance Services Market Analysis by Aircraft Wing
By aircraft wing, air ambulance services market has been divided into fixed-wing and rotary-wing based on the group aircraft wing used. Over the course of the projected period, the rotary-wing segment is anticipated to have extremely high revenue growth. The most frequent situations where rotary-wing air ambulances are employed are when someone needs to be transported over a relatively short distance rapidly. When a ground ambulance would have trouble getting to the patient, their ability to land almost anyplace makes them useful. Instead of using land ambulances, air ambulances with rotor wings are utilized because they can land almost anywhere and have a major advantage over slower terrestrial conveyance. They are useful for rescue operations since they can hover and can take off and land in a vertical position. They can also move very slowly without incurring any additional costs.
Over the anticipated period, the fixed-wing segment's revenue is anticipated to expand at a consistent rate in the global air ambulance services market. Due to their larger fuel tanks, fixed-wing air ambulances can go farther than rotary-wing aircraft. Short-distance travel is often accomplished by aircraft with propellers. Some turboprops, or propeller-driven aircraft, are used for long-distance and/or outstation flights. In comparison to helicopters, business jets are used for longer-distance service models and can carry more personnel and medical supplies. Additionally, fixed-wing aircraft can fly in bad weather without compromising patient comfort or the standard of care. Two key factors driving up demand for fixed-wing air ambulance services are their ability to fly in inclement weather and the rise in medical tourism.
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In 2021, North America dominated the air ambulance services market, which was worth USD 2.33 billion. The presence of air medical service providers, who have access to cutting-edge medical facilities, a sizable number of helicopter fleets in the United States, and the biggest concentration of helicopter operators in North America are all contributing factors to the expansion of the air ambulance services market. Additionally, the industry in the area is boosted by the existence of significant firms like Air Methods, PHI Air Medical, Acadian Companies, and others. Between 2022 and 2029, Asia Pacific is expected to experience exceptional growth. The expansion of the market is predicted to be fueled by improvements in emerging economies like China and India, as well as rising government spending on healthcare. The expansion of the aviation industry in Asia Pacific is another factor in the increase. In addition, the region's market is growing as a result of an increase in helicopter operators and a rise in the need for helicopters for a range of medical services applications. From 2022 through 2029, Europe will experience tremendous growth. This is brought on by an increase in leasing facilities and aeroplanes with cutting-edge technology. The regional air ambulance services market is expanding as a result of growing expenditures made by the key players in the development and adoption of cutting-edge technology that would enhance the operations of air ambulance services. From 2022 to 2029, the remainder of the world will have moderate growth. Over the course of the projection period, it is anticipated that the introduction of contemporary medical facilities, the region's improving financial situation, expanding population, and acceleration of economic growth would boost market expansion.
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As the global air ambulance services market rivalry has raised the bar for new entrants and challenged established players based on development in service, quality, and price, key firms like Air Methods Corporation are concentrating on strategic mergers to maintain market position. The market position will also be supported by significant expenditures made by air ambulance manufacturers in cutting-edge technology. Players in the global air ambulance services market are working on platform development and forming strategic alliances to increase the scope of their individual portfolios and establish a solid footing in the global market. The companies mentioned in the global market study include Gulf Helicopters, Air Methods Corporation, Acadian Companies, Global Medical Response, Inc., Petroleum Helicopters International (PHI), Inc., Express Aviation Services LLC, Air Charter Service, and REVA, Inc.
Air Ambulance Services Market Top Player's Company Profiles
Air Ambulance Services Market Recent Developments
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According to our global air ambulance services market analysis, several businesses and markets were severely disrupted by the coronavirus pandemic. The pandemic did, however, increase the need for services. Numerous health insurance and support companies, independent end users, and hospital helicopter emergency medical services all contributed to the huge demand for air ambulance services and the market's success. In the upcoming years, it is predicted that the market will develop due to the improvement in response time achieved by adding more operation bases.
|Market size value in 2021||USD 15.73 billion|
|Market size value in 2030||USD 17.4 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Air Ambulance Services Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Air Ambulance Services Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Global air ambulance services market was valued at USD 4.89 billion in 2021, and it is expected to reach a value of USD 10.30 billion by 2028, at a CAGR of 8.56% over the forecast period (2022–2028).
One major element hampering the growth of the air ambulance services market revenue is the strict regulations governing emergency medical services.
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