The market research report for the Air Ambulance Services market includes a prediction for the years up to 2029 as well as in-depth information on the market’s size, rate of growth, revenue, trends, and potential. Also carefully analysed are the main variables affecting the development of this sector. This study involved a thorough quantitative examination of the market, and the findings can be used to inform the creation of growth- and productivity-boosting measures.
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Air Ambulance Services Market Overview:
Focusing on the most recent drivers, restraints, and opportunities for the Air Ambulance Services industry, the in-depth company firm’s study is on the Air Ambulance Services market. Discussions with eminent businesses follow to confirm the results. In the secondary review and analysis of the same, both paid and unpaid data sources are utilised. Data on each player’s supply and consumption are assembled using official government sources, independent data sources, and, in the case of publicly traded firms, financial reports of the company. Even if financial documents from businesses are not made available to the general public, the tax division of the local government may be able to obtain them.
Air Ambulance Services Market size is expected to grow at a CAGR of 11.20% throughout the forecast period, reaching nearly US$ 13.63 Bn. by 2029.
COVID-19 Impact:
The analysis examines the existing and potential impacts of the COVID-19 pandemic on the entire market and delivers more accurate and true estimates in accordance with the market scenario. The world is in anguish due to the coronavirus outbreak. Almost every country has had strict social segregation laws in place, like lockdowns. This has caused disruptions in supply systems. The epidemic has altered societal structures all across the world. The market as a whole is affected by the COVID-19, and as that impact increases in 2019 and 2020, so does the rate of growth. In order to provide decision-makers with reliable data and experiences, businesses and organisations are being compelled by the COVID-19 tragedy to manage risk and digitise operations. This is consistent with the most recent analysis, research, and recommendations from MMR on the management challenges that are crucial for businesses and organisations and have a substantial market impact.
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Air Ambulance Services Market Key players:
• Falck A/S
• Air Methods Corporation
• The Acadians
• AirMed International, LLC
• Express Aviation Services LLC
• Lifeguard Air Ambulance
• Air Medical Group Holdings
• PHI
• Metro Aviation
Key company and market share insights:
The major competitors are listed here for audiences to learn about. The main strategic actions these businesses take to maintain market dominance are reviewed in this study, including product portfolio strengthening, M&A, partnerships, new, innovative products, and geographic penetration. In addition to critical financial information and current events, the report also provides the company’s goals. The companies’ global sales, earnings, and profit margins from 2017 through 2022 are also covered in more detail for users.
Air Ambulance Services Market Dynamics:
Increasing cases of chronic diseases which require emergency medical care are the major driving factor.Chronic diseases like diabetes, cancer, cardiovascular are the leading causes of death worldwide. Chronic diseases are the leading cause of death worldwide, accounting for 60% of all deaths, according to the World Health Organization (WHO). Chronic diseases are responsible for nearly 80% of deaths in medium- and low-income countries. Chronic diseases will impact 49% of the US population by 2025, according to estimates.
Chronic conditions like Arthritis, heart attacks, strokes, osteoporosis, and obesity are all very common in the geriatric community. Patients with such illnesses can require both an emergency and a non-emergency ambulance service. Hence, the rising geriatric population is expected to aid the market growth.
In addition, the public awareness of air ambulance services is expected to fuel consumer demand in the future. The development of the global air ambulance services sector is supported by government participation and initiatives. The Crown copyright released a report in July 2021, which states that nine air ambulance charities in England received a funding of US$ 12,878 million and it will be used to buy technologically advanced equipment and improvement in facilities.
Air Ambulance Services Market Segment:
The Global Air Ambulance Services Market is segmented on the basis of type, Service Model and Application.
Based on Type, the Rotary wing segment held a dominant share of 76% in 2021. The rotary-wing term is usually used for helicopters. The cost-effectiveness and rapid response time of helicopter-based air ambulance services are the key benefits contributing to the segment growth. Helicopters are used to transport patients in emergency situations, especially when a quick response is required.
Helicopters are an excellent alternative to ground ambulances because they can land almost anywhere, including on highways, parks, farms, congested urban areas, and paved areas. Bell 206, 429, and 407 helicopters, Eurocopter AS350, EC135, BK117, EC145, and EC130 helicopters, Sikorsky S-76 helicopters, and Augusta Westland 149 and 109 helicopters are all commonly used for air ambulance services. REVA Inc., PHI, AirMed International, Scandinavian Air Ambulance, and Native American Air Ambulance are some of the major players in this industry.
Based on Service Type, the hospital based segment accounted for the largest market share of 79% in the year 2021. A hospital usually offers a medical staff and partners with an aviation service provider for aircraft, pilots, and mechanics in a hospital-based service model. The aviation service provider must have a Federal Aviation Administration (FAA) licence, and the hospital pays them for the service model they provide.
Regional Analysis:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East and Africa
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