June 24, 2024
Air Ambulance Services Market

The Rising Demand For Immediate Medical Transportation Drives The Growth Of The Air Ambulance Services Market

Air Ambulance services provide immediate transportation for critical medical cases using specially-equipped aircraft to ferry patients from remote or rural locations to advanced medical facilities. Air ambulances are equipped with highly advanced medical equipment to handle critical emergencies and provide intensive care support during transit. The medical team aboard air ambulances consists of ICU-trained medical staff, including doctors, nurses, and paramedics ensuring continued medical support to patients during air transport. The ability of air ambulances to access remote locations in short time frames has become indispensable for relief operations during natural disasters.

The global Air Ambulance Services Market is estimated to be valued at US$ 7371.8 Bn  in 2024 and is expected to exhibit a CAGR of 12%  over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends

One of the key trends in the air ambulance services market is the increasing demand for specialty care aircraft. Specialty care aircraft are specifically designed for neonatal, pediatric, bariatric, or specialty medical cases transport. These aircraft offer advanced lifesaving medical equipment as well as ergonomic designs to facilitate safe transport. Various air ambulance service providers are expanding their fleets with specialty aircraft to cater to the needs of vulnerable patient groups. For instance, REVA, Inc., a leading air ambulance service provider, launched two new specialty care aircraft in 2021 – a neonatal/pediatric aircraft and a bariatric aircraft. Such initiatives are expected to drive the demand for air ambulance services over the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is low in the air ambulance services market due to the high capital requirements and stringent regulations by aviation authorities.

Bargaining power of buyers: The bargaining power of buyers is moderate as the demand for air ambulance services is price inelastic in emergencies.

Bargaging power of suppliers: The bargaining power of suppliers such as aircraft manufacturers is high as they are large firms controlling the resources.

Threat of new substitutes: There are currently no cost-effective substitutes for air ambulance services in medical emergencies requiring urgent patient transport.

Competitive rivalry: The competitive rivalry is high among existing players considering their global presence and strong brand positions in the market.

Key Takeaways

The global Air Ambulance Services Market Demand is expected to witness high growth during the forecast period.

North America currently dominates the market owing to the presence of major players and well-developed healthcare infrastructure in countries like the US and Canada. Europe is also expected to see considerable growth in demand for air ambulance services primarily due to rising investments in the healthcare domain across Germany, UK and France.

Key players operating in the air ambulance services market are Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., PerkinElmer Inc., Illumina, Inc., Bio-Rad Laboratories, Inc., Standard BioTools, GE HealthCare, Thermo Fisher Scientific, Inc., LI-COR, Inc. They have strong global presence and brand recognition in the industry.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it