Global Air Ambulance Market: Current Analysis and Forecast (2024-2032)

Report Description

Global Air Ambulance Market Size & Forecast

The Global Air Ambulance Market was valued at USD 6795.50 million in 2023 and is expected to grow at a strong CAGR of around 10.92% during the forecast period (2024-2032) owing to rising demand for Air Ambulance for medical transportation across the globe.

Global Air Ambulance Market Analysis

The Global Air Ambulance Market is anticipated to exhibit a remarkable growth rate during 2024-2032. With the increasing number of companies offering medical transportations services, as well as technological and regulatory advancements in the domain, the sector has experienced a rapid boost. Air ambulances have also gained sizable momentum from government and private healthcare providers who are opting for the Air Ambulance application to reduce transportation time.

The Global Air Ambulance Market was valued at USD 6795.50 million in 2023 and is expected to grow at a strong CAGR of around 10.92% during the forecast period (2024-2032). One of the key factors that has promoted the demand for air ambulance services across the globe is the high prevalence of chronic diseases and trauma cases across the globe. According to the World Health Organization, non-communicable diseases kill 41 million people per year. Of these, chronic diseases such as cardiovascular diseases, cancer, respiratory diseases, and diabetes-related death accounts for 17.9 million, 9.3 million, 41.1 million, and 2 million, respectively.

Additionally, as per WHO, the total cases of injury, both intentional and unintentional, take a toll of 4.1 million deaths across the globe.

Considering the numbers, the air ambulance requirement across the globe is anticipated to rise significantly which would be crucial for the uptick in the growth of the market. Additionally, air ambulance services also provide crucial help in transportation during natural disasters to evacuate and provide medical help to the patients, which would be a key factor in assisting the market growth.

As the number of people suffering from chronic diseases and fatal injuries per year is in the millions, the significance of air ambulance has considerably increased as it is an easy mode of saving time in transportation. Considering the aforementioned factors, the Global Air Ambulance Market is anticipated to exhibit notable growth during 2024-2032.

Global Air Ambulance Market Trends

This section discusses the key market trends that are influencing the various segments of the Global Air Ambulance Market as identified by our team of research experts.

Aging Population Requiring Medical Emergencies

The growing aging population around the globe would be one of the key potential customers opting for air ambulance service. Geriatric patients often suffer from both communicable and non-communicable diseases due to aging and lowered immunity conditions.  According to the World Health Organization (WHO), one out of every six people across the globe in 2030 will be above 60 years old. Additionally, by 2050, over 80% of the old population will be living in low and middle-income economies.

Considering the increase in the aging population across the globe, the on-demand services for swift transportation for medical services would fuel the demand for air ambulances in the coming years, i.e., 2024-2032.

North America is Expected to Hold Major Market Share During Forecast Period

The North American Air Ambulance Market has grabbed major market share across the globe. Some of the key factors attributed to the growth are the higher number of healthcare service providers and healthcare centers in distant locations from many of the urban and suburban centers requiring air ambulances for swift patient transportation.

As trauma is one of the leading causes of patients losing lives in the North American region, faster transportation to healthcare facilities becomes essential.

For instance, according to WHO, in countries such as Canada, injuries caused 16,000 deaths per year and more than 23,000 hospitalizations. Additionally, in the US, around 1 million people are suffering from traumatic brain injury, and one-third of all TBI die from it, according to the American Association For The Surgery Of Trauma.

Considering the high number of trauma injuries in the North American region, the demand for air ambulance services for carrying patients to the medical centers timely becomes pivotal in saving lives or any sort of long-term damage. With these shifts in demand, many healthcare service providers have opted for air ambulance services, further promoting the growth of the North American Air Ambulance Market.

Global Air Ambulance Industry Overview

The Global Air Ambulance Market is competitive and fragmented, with the presence of several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Air Methods, AMR, PHI Air Medical, Air Ambulance Worldwide, REVA Inc., Lifeguard Ambulance Services LLC., Acadian Ambulance, IAS Medial Ltd., American Air Ambulance and Global Air Response.

Global Air Ambulance Market News

In 2023, Yorkshire Air Ambulance added two new air ambulances to its fleet, which cost around USD 19.5 million. The Airbus H145 D3 helicopters with five rotor blades for increasing load capacity and higher fuel-carrying capability are added to the fleet.

In another instance, in 2023, Parksville helicopter company won USD 544 million to supply new aircraft to BC Emergency Health Services (BCEHS) to deliver helicopter emergency medical services.

Global Air Ambulance Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The Global Air Ambulance Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs; hence, feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Global Air Ambulance Market Analysis (2024-2032)

Analyzing the historical market, estimating the current market, and forecasting the future market of the Global Air Ambulance Market were the three major steps undertaken to create and analyze the adoption of Global Air Ambulance in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted with industry experts across the value chain of the Global Air Ambulance Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

A detailed secondary study was conducted to obtain the historical market size of the Global Air Ambulance Market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Global Air Ambulance Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as by type and by model. Further regional/country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Global Air Ambulance Market. Further, we conducted factor analysis using dependent and independent variables such as by type and by model in the Global Air Ambulance Market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Global Air Ambulance Market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Global Air Ambulance Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors, including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques, i.e., the top-down/bottom-up approach, were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Global Air Ambulance Market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Global Air Ambulance Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs), including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the Global Air Ambulance Market. Data was split into several segments and sub-segments after studying various parameters and trends in by type and by model in the Global Air Ambulance Market.

The main objective of the Global Air Ambulance Market Study

The current & future market trends of the Global Air Ambulance Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Global Air Ambulance Market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of by type and by model.
• Define and analyze the regulatory framework for the Global Air Ambulance industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the Global Air Ambulance Market for the major regions.
• Major countries of regions studied in the report include North America (The US, Canada, and Rest of North America), Europe (The UK, France, Germany, Italy, Spain, Rest of Europe), Asia-pacific (China, Japan, India, Rest of the Asia-pacific), Rest of the World
• Company profiles of the Global Air Ambulance Market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry.

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