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| Air Ambulance Services Market |
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 care 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:
- 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.
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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