Air ambulance: Key market research findings
- Ability to access remote areas spurs market growth
- The Americas dominate the market geographically
- Key vendors – AASI, Air Methods, EAA, PHI, and Scandinavian Air Ambulance
Technavio’s market research analysts predict the global air ambulance market to grow at a CAGR of around 10% between 2016 and 2020. The demand for air ambulances is augmented by their ability to access remote areas. Air ambulances can reach injured people or those requiring specialized treatment in rural or remote areas, highlands, and over vast expanses of water. They save the time of transportation but also extend medical care, which is vital for patients in critical conditions. During 2015, the Americas dominated the global air ambulance market with a market share of almost 52%. The presence of several prominent air ambulance service providers in the region is expected to boost growth in the air ambulance market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the air ambulance segments based on the service.
“Governments or health insurances companies in developing countries like China and India are improving their reimbursement methods. During the forecast period, this is expected to reflect positively on the market’s growth. Besides, increasing medical tourism scheme in nations such as Thailand, Brazil, and Taiwan will also increase the demand for tourists as it enhances the frequency of hospital visits by patients for a medical check-up,” says Abhay Kumar Singh, Lead Analyst, Aerospace & Defense, Technavio Research.
By 2020, the hospital-based segment is expected to account for more than 93% of the market share to become the dominant shareholder in the global air ambulance market. Hospital-based service model provides air medical transportation services to multi-specialty hospitals and other healthcare centers. Under this model, the hospital owns the medical program and provides medical staff including doctors, nurses, and communications facilities to the end-users.
The key vendors in the global air ambulance market include AASI, Air Methods, EAA, PHI, and Scandinavian Air Ambulance. This market is moderately competitive with many prominent service providers competing for a better market share and geographic outreach. The market is dominated by a few major service providers who offer advanced medical technologies, fleet procurement, and latest medical services. To sustain the competition, several players are focusing on providing value-added services to their end customers. The rise in mergers and acquisitions, coupled with increased collaboration with alliance partners around the world will drive the air ambulance market during the forecast period.
A more detailed analysis is available in the Technavio report, Global Air Ambulance Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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