Air
Ambulance Services Market: Overview
Advancements in healthcare technology along with
increasing patient inclination towards faster and efficient mode of
delivery has led to rampant growth of efficient and on-the-time
delivery air ambulance services market size. Air ambulance services
refer to transport or evacuation facilities provided to patients in
emergency situations at the accident site, home, or hospital. Air
ambulances are equipped with advanced medical facilities, including
devices used in emergencies, to provide immediate medical carei to
the patient until he/she reaches the nearest hospital. Moreover, air
ambulances have trained medical crew onboard to treat patients in
emergency situations en route to the hospital. Air ambulance
efficiently addresses the issue of long travel time and inadequate
reach to remote areas faced in road ambulance service. Air ambulance
services have thus become an essential component of the modern
healthcare system.
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Increasing use of Helicopters in Air
Ambulance
The global air ambulance services market outlook
can be analyzed on the basis of type of aircraft as follows are
Helicopter,Aircraft/Airplane,Rotary winged aircraft,Fixed winged
aircraft,Sea-Planes,.
Use of helicopters in air ambulance is increasing
owing to its convenience in landing and taking-off from a smaller
ground area. Moreover, helicopter enables wider reach in remote areas
compared to winged aircrafts/airplanes, which require more space for
landing and take-off. Companies are also making use of sea planes and
corporate planes depending on the demand and patient location.
Lack of Infrastructure and Inadequate
Number of Aircraft in Developing Regions are Key Challenges for
Growth of Air Ambulance Market
On the basis of geography, the global air
ambulance services market scenario can be segmented into North
America, Europe, Asia Pacific, Latin America and Rest of the World.
Developed infrastructure, defined regulatory framework and favorable
reimbursement policies are some of the factors contributing to the
dominance of the air ambulance services market in North America and
Europe. Developing countries of Asia Pacific, Latina America and
Middle East are expected to show swift growth in the demand for air
ambulance services. Factors such as rapidly growing medical tourism,
improving medical infrastructure, and increasing disposable income
are projected to boost growth of air ambulance services market in
these regions. Air ambulance service providers in India such as
Aviators Air Rescue, Aeromed, Innovation Aviation Pvt Ltd, JetSetGo,
Air Ambulance Aviation, and Medanta’s Flying Doctors are
collaborating with insurance providers to make the service affordable
to all. However, lack of infrastructure and inadequate number of
aircraft is deterring operators to meet demand for air ambulance in
the country.
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Faster Reach and Onboard Assistance
Driving Demand
Some key global air ambulance services market
drivers include its ability to faster reach compared to road
ambulance and onboard medical assistance. Also, air ambulance
services are widely utilized on the warfront to rescue injured
soldiers and provide emergency medical care to them.
Favorable reimbursement policies for air ambulance
services are propelling demand for air ambulance services among
patients. Certain insurance providers in Canada reimburse around 80%
of the total service cost of air ambulance. This reimbursement policy
is applicable for patients who require immediate hospitalization.
This policy, however, excludes non-emergency patients, thus
increasing cost of this service for such patients. This is a major
air ambulance services market restraint. Formulation of strict safety
rules by the Federal Aviation Administration (FAA) is one of the
factors anticipated to reduce profit margins of air ambulance service
providers, which would also hinder the growth of air ambulance
services market revenue during the forecast period (2016–2024).
Ambulance Drones: A Fast Emerging Possible
Nemesis
Air ambulance service is a capital intensive
business, which increases entry barriers for new entrants in the
market. Moreover, the advent of ambulance drones will also impact
demand for air ambulance in future. The high cost of availing the air
ambulance service in comparison to a cheaper ambulance drone would be
restrain market growth of air ambulance to a major extent.
In terms of number of players, there are various
small players operating with a small fleet of planes across the
globe. Some of the major players in the global air ambulance services
market are Air Methods Corporation, Deccan Charters, Scandinavian Air
Ambulance, Air Ambulance Specialists, Air Charter Service, and Air
Methods.
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