SAN FRANCISCO, December 11, 2018 /PRNewswire/ --
The global fixed-wing air ambulance service market size is expected to reach USD 2.00 billion by 2025, expanding at a 9.4% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Growing prevalence of chronic health conditions, such as cardiac disorders, that require immediate medical response is expected to favorably influence the market over the forecast period.
Emergency medical services use fixed-wing or rotary-wing aircraft to transport patients to-and-from healthcare facilities. Fixed-wing air ambulance serves to be a safe, reliable, and quick way of transporting patients. These ambulances offer enhanced services as compared to road ambulances by avoiding challenges of traffic and inability to reach remote locations. Hence, they have emerged as an effective medium for patient transport in case of emergencies.
These ambulances are used to transport patients over long distances and for repatriation. Rising demand for emergency medical transport and Emergency Medical Services (EMS) has driven investments in the market. Government initiatives directed at public healthcare reforms have been a key factor in promoting investments in the sector, thus, fostering industry growth.
Demand for fixed-wing air ambulances services is expected to increase on account of growing spending capacity of people in developing countries. Initiatives undertaken by insurance companies to include air ambulance services in their coverage is also vital in promoting market growth.
Increasing demand for these services has led international providers to collaborate with healthcare providers in developing countries to expand their global footprint. Service providers are also collaborating with various local organizations to offer access to air ambulances for employees traveling abroad. Collaboration with government organizations is also gaining momentum. For instance, in India, The Municipal Corporation of Mumbai is in process of offering these services across Mumbai and few other metro cities in India.
The market has witnessed the emergence of publicly funded and charity based services. These operators have been vital in providing medical support to patients who need emergency medical assistance and in situations of natural disasters.
Browse full research report with TOC on "Fixed-wing Air Ambulance Service Market Analysis Report By Service (Medical Escort Service, Medical Evacuation & Repatriation), By Service Model, By Region, And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/fixed-wing-air-ambulance-service-market
Further Key Findings From the Report Suggest:
- Service providers in the market have been partnering with third-party medical escort services to offer assistance to patients onboard. The segment is projected to exhibit a CAGR of 10.5% over the forecast period
- On the basis of service model, the community based model is estimated to witness a CAGR of 9.6% over the forecast period, emerging as the fastest growing segment
- Consumers of air ambulance services are urging providers to be affiliated with government bodies and insurance providers for increasing affordability. This has led several insurance providers to enlist them in their insurance coverage
- The Asia Pacific market is expected to witness the fastest growth, can be attributed to increased healthcare spending in the recent past. The market is estimated to register a 12.5% CAGR during the forecast period
- Leading industry participants include American Medical Response (AMR) and FAI rent-a-jet AG.
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Grand View Research has segmented the global fixed-wing air ambulance service market on the basis of service, service model, and region:
- Fixed-Wing Air Ambulance Service Outlook (Revenue, USD Million, 2014 - 2025)
- Medical Evacuation and Repatriation
- Medical Escort Service
- Fixed-Wing Air Ambulance Service Model Outlook (Revenue, USD Million, 2014 - 2025)
- Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Hong Kong
- Latin America
- Saudi Arabia
- South Africa
- North America
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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