BANGALORE, India, July 14, 2021 /PRNewswire/ -- The Air Ambulance Market is Segmented by Type (Rotary Wing Air Ambulance Service, Fixed Wing Air Ambulance Service), by Application (Aid, Transport, Others). The report covers global opportunity analysis and industry forecasts from 2021 to 2026. It is published in Valuates Reports in the Emergency Services Category.
The global Air Ambulance market size is projected to reach USD 8343.4 Million by 2026, from USD 4200.7 Million in 2019, at a CAGR of 10.3% during 2021-2026.
Major factors driving the growth of Air ambulance market are:
Rising prevalence of the chronic disease has surged the demand for air medical service
Growing number of multinational hospitals equipped with proper air-ambulance services
Increase rate of life-threatening situations especially for the geriatric population.
TRENDS INFLUENCING THE GROWTH OF THE AIR AMBULANCE MARKET
Increasing Incidence of Chronic Diseases Expected to Surge Demand for Air Medical Services is expected to drive the growth of the air ambulance market. The need for air medical services has increased as the prevalence of chronic diseases such as diabetes, cancer, cardiovascular disease, and others has increased. Furthermore, the increased geriatric population is expected to further propel the air ambulance market.
The requirement to maximize the use of air ambulance assets to provide better emergency care and generate more economic returns is expected to drive the air ambulance market expansion.
Superior technology improvements in onboard medical treatments have piqued the interest of major market participants, and the growing number of service providers is likely to fuel the global air ambulance market expansion.
In addition, features such as attractive reimbursement policies increased governmental attention on improving emergency care standards, and the desire for better emergency health care services is expected to boost the air ambulance market.
In 2019, North America held the greatest revenue market share of 58 percent. It is followed by Europe due to the strong air transportation industry in these regions and the early development of air medical care in these countries.
The rotary-wing segment is expected to be the most lucrative during the forecast period. The cost-effectiveness and quick response time of helicopter-based air ambulance services are the key benefits. Helicopters are used to transport people in emergency situations, particularly when a speedy reaction is required.
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