Air Ambulance Services Market Size, Share & Trends Analysis Report By Type (Rotary-wing, Fixed-wing), By Service Model (Hospital-based, Community-based)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

The global Air Ambulance Services market gathered revenue around USD 6.0 Billion in 2020 and market is set to grow USD 12.9 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 11.2% during the prediction period 2021 to 2027.

Growth Factors:

Ambulance services are vital for transportation in case of medical emergencies. Efficient ambulance services has led to on-time medical attention for accident victims or patients with chronic illness, emergency medication situations, etc. Air ambulances are armed with innovative medical equipment and accessories, along with skilled medical crew trained in providing initial emergency medical care to patients. Air ambulance provides the advantages over the issue of prolonged travel durations and limited remote areas reach that are faced in road ambulance services. The Federal Aviation Administration has laid down strict safety guidelines for air ambulance services. Air ambulance services are equipped with advanced life care services (ALS). Earlier, the use of ambulances were primarily in the battlefield; however, with rising incidence of several severe medical situations coupled with advanced innovation in ambulances, their utilization also started for transportation to-and-from hospitals of critical patients. Air ambulance services directly transport patients from their residence or place of accident to the health care establishment such as multispecialty hospitals.

Air ambulance services are used generally in case of medical emergencies. Patients or their family members have to bear high costs in case the services are availed in dire situations. Thus, reimbursement plans help patients recover costs and reduce this burden. Many companies offer reimbursement for the services such as Medicare and Medicaid. Moreover, the majority of the medical insurance guidelines and employee benefit plans offer some type of air ambulance coverage. The United States Department of Health and Human Services has included an air medical reimbursement plan in the Affordable Care Act. In February 2017, lawmakers in Montana supported two air ambulance regulation bills with an aim to reduce the economic burden on patients.

It was estimated that around 50.0% of the U.S. population will be affected by chronic diseases by 2025. Cardiac diseases and stroke account for 30.0% of the deaths in the U.S. Cardiovascular diseases are the leading cause of death globally. Stroke is the second most common cause of death worldwide. According to the WHO, it is estimated that by 2020, chronic diseases will account for 3/4th of the total deaths globally, out of which, 71% will be caused by ischemic heart diseases and 75% of deaths will be caused by stroke. India and China have a high prevalence of cardiac diseases. Chronic diseases, such as cardiac diseases and stroke, usually require an emergency medical response. The services provide rapid response in case of such emergency medical situations. Air ambulances are equipped with advanced and innovative medical care for cardiac, stroke, chronic obstructive pulmonary disorder, and trauma patients.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Air Ambulance Services market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Air Ambulance Services market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Report Coverage

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Air Ambulance Services market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Regional analysis:

North America dominated the air ambulance services market and accounted for the largest revenue share of 52.0% in 2020. The region is expected to witness a considerable growth rate of 9.2% over the forecast period. North America has the largest number of air ambulance service providers, and the infrastructure required for air medical transportation is also easily accessible. In addition, the presence of favorable reimbursement policies also supports the growth of this region. Moreover, the presence of highly developed healthcare infrastructure is also expected to drive the market for air ambulance services over the forecast period.

In Asia Pacific, the market for air ambulance services is anticipated to witness the fastest growth over the forecast period. The presence of developing countries such as China, India, and Japan is anticipated to boost the growth of the market for air ambulance services in the region. In addition, the rapidly growing medical tourism industry in these countries can also be attributed to the increase in demand for air ambulance services in this region. For instance, as per the report on the Export Health Service model by the Directorate-General of Commercial Intelligence and Statistics of India, in 2016-2017, India had 58,300 medical tourists on medical visas.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

• Company Overview
• Company Market Share/Positioning Analysis
• Product Offerings
• Financial Performance
• Recent Initiatives
• Key Strategies Adopted by Players
• Vendor Landscape
• List of Suppliers
• List of Buyers

Some of the prominent players in the Air Ambulance Services Market include:  AMR; PHI Air Medical; Babcock Scandinavian Air Ambulance; Express Air Medical Transport; REVA, Inc.; Lifeguard Air ambulance; Acadian Ambulance; IAS Medical, Ltd.; American Air Ambulance

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

• By Type

• Rotary-wing
• Fixed-wing
• By Service Model
• Hospital-based
• Community-based

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Highlights of the Report:

• Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
• Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Air Ambulance Services market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Air Ambulance Services market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Air Ambulance Services markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

• Governmental bodies, and organizations creating economic policies
• National and international social welfare institutions
• Company websites, financial reports and SEC filings, broker and investor reports
• Related patent and regulatory databases
• Statistical databases and market reports
• Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

• Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
• In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

• CEOs, VPs, market intelligence managers
• Procuring and national sales managers technical personnel, distributors and resellers
• Research analysts and key opinion leaders from various domains

Key Points Covered in Air Ambulance Services market Study:

• Growth of Air Ambulance Services in 2021
• Market Estimates and Forecasts (2017-2027)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Air Ambulance Services and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Air Ambulance Services Consumption Analysis
•  Air Ambulance Services Production Analysis
•  Air Ambulance Services and Management