Air Ambulance Services Market

Air Ambulance Services Market Outlook (2022 to 2032)

A newly released Air Ambulance Services Market analysis report by Future Market Insights shows that global sales of the Air Ambulance Services Market in 2021 were held at USD 5.5 Billion. With a CAGR of 12.3% from 2022 to 2032, the market is projected to reach a valuation of USD 19.5 Billion by 2032. Rotary-wing air ambulance service is forecasted to be the most revenue-generating segment, with a CAGR of more than 12.4% between 2022 and 2032.

Attribute	Details
Global Air Ambulance Services Market (2022)	USD 6.2 Billion
Global Air Ambulance Services Market (2032)	USD 19.5 Billion
Global Air Ambulance Services Market CAGR (2022 to 2032)	12.3%
USA Air Ambulance Services Market CAGR (2022 to 2032)	13.1%
Key Companies Profiled	AMR; PHI Air Medical; Babcock Scandinavian Air Ambulance; Express Air Medical Transport; REVA, Inc.; Lifeguard Ambulance Service LLC; Acadian Ambulance; IAS Medical, Ltd.; American Air Ambulance

Revenue of Air Ambulance Services Market from 2015 to 2021 Compared to Demand Outlook for 2022 to 2032

As per the Air Ambulance Services Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2015 to 2021, the market value of the Air Ambulance Services Market increased at around 11.4% CAGR.

Patients suffering from a stroke, heart attack, or traumatic incident who require time-sensitive therapy in a critical care center are increasingly using air ambulance services. According to the World Health Organization, 0.8 million Americans and a million Europeans have a stroke each year. Every year, almost 4 million people in the United States are critically injured in traffic accidents. Every year, nearly 18 million people die from cardiovascular disorders around the world.

Cases of stroke, trauma, and heart attacks necessitate time-dependent medical or surgical intervention. For example, in the treatment of ischemic stroke, restoring blood flow to the brain through an emergency IV injection of recombinant tissue plasminogen activator or an endovascular operation is crucial.

Medicare and Medicaid reimburse around 60% and 34% of the estimated cost of air patient transport, respectively, leaving patients with a significant out-of-pocket expense in many circumstances. The high cost of air medical services, along with payment issues, provides a barrier to the market's global expansion.

Which Factors are Propelling Air Ambulance Services Demand?

Trauma, stroke, and heart attack incidences are on the rise, which is driving the demand for air medical services. According to DESA, the number of individuals aged 60 and above in the United Kingdom is expected to more than quadruple by 2050, from 820 million in 2021.

Japan and Germany, are already super-aged countries, with people aged 65 and up accounting for 28% and 22% of the population, respectively. One of the key reasons for the rise in chronic illness prevalence is the aging population.

In the United States today, 60% of individuals have at least one chronic ailment, and 40% of adults have two or more chronic conditions. Diabetes affects around 425 million people worldwide, according to estimates.

Air Ambulance Services will witness a surge in demand as the population ages and the prevalence of chronic diseases rises. The rising incidence of chronic diseases would result in a significant increase in the frequency of life-threatening medical situations or patients who do not have immediate access to a healthcare facility, resulting in increased demand for air medical services.

Rapid Technological Advancements in Air Ambulance Services will also drive market growth. The degree of care offered to patients being evacuated with the use of sophisticated and novel medical technology is improving in air ambulances. Furthermore, technologically enhanced communication systems enable the transmission of actual figures on a patient's condition to healthcare experts, enabling physicians to plan ahead for an emergency. To provide critical care to patients, air ambulances are equipped with equipment such as heart monitors, ventilators, and defibrillators.

The Indian Ministry of Health issued a clarification in April 2020, noting that medical evacuation flights should not be conducted without official approval. Air ambulance operators must obtain authorization from district authorities in both the departure and arrival cities, valid documentation from the hospital and doctor regarding the patient's data, COVID-19 test results, and a COVID NOC from the state health department, according to the new regulations. Only a few companies provide air medical services due to the extensive procedures and constraints. As a result, the market's expansion was hampered by strict regulations and lengthy procedures.

Region-wise Analysis

How different regions are performing in the Air Ambulance Services Market?

Because of the existence of multiple air medical service providers and the availability of superior medical facilities in the region, North America is expected to dominate the market in 2021, with a double-digit CAGR during the forecast period.

During the projection period, the market in Asia-Pacific is expected to develop at the fastest CAGR. Market growth is expected to be fueled by the strengthening economies of emerging countries such as China and India, as well as increased government expenditure in the healthcare sector.

Furthermore, the fast-expanding medical tourism business in these nations can be linked to an increase in demand for air ambulance services in the region. According to the DGCI and Statistics of India's study on the Export Health Service model, India had 60,000 medical tourists on medical visas each year from 2015 to 2021.

Country-wise Analysis

USA Air Ambulance Services Market

The market in the US is projected to reach a valuation of USD 7.5 Billion by 2032. Growing at a CAGR of over 13% from 2022 to 2032, the market in the country is expected to gross an absolute dollar opportunity of USD 5.3 Billion.

UK Air Ambulance Services Market

The market in the UK is expected to garner a market size of USD 809 Million by 2032. From 2022 to 2032, the market in the country is expected to gross USD 553 Million.

Japan Air Ambulance Services Market

In Japan, the market is projected to reach USD 711 Million by 2032. During the forecast period, the market is expected to garner an absolute dollar opportunity of USD 533 Million.

Category-wise Insights

Which Component of Air Ambulance Services is expected to Score Highest Growth in the Coming Years?

The market is divided into fixed-wing and rotary-wing aircraft types based on aircraft type. Due to the surge in demand for helicopter emergency medical services (HEMS) during the COVID-19 outbreak, the rotary-wing segment is expected to be the largest and fastest-growing segment over the forecast period. Furthermore, the market expansion is expected to be aided by key manufacturers' increased development of helicopters specialized in providing healthcare services.

Airbus added more than 200 helicopters to HCare Smart in January 2020, bringing the total number of helicopters to 2250. Airbus has dedicated 19% of its global fleet to HCare.

Which Service Model of Air Ambulance Services is expected to Score the Highest Growth?

The hospital-based service model dominated the air ambulance services market in 2021, with a revenue share of 78%, and is expected to rise at a significant rate throughout the forecast period. In some areas, a shortage of specialty care and medical physicists has resulted in a surge in the utilization of air ambulance services to transport patients to specialty hospitals quickly.

Competitive Analysis

Some of the key players operating in the Air Ambulance Services market include AMR, PHI Air Medical, Babcock Scandinavian Air Ambulance, Express Air Medical Transport, REVA, Inc., Lifeguard Ambulance Service LLC, Acadian Ambulance, IAS Medical, Ltd., and American Air Ambulance.

Some of the recent developments of key Air Ambulance Services providers are as follows:

• In April 2021, Babcock Norway and the European Union signed a contract. This contract seeks to provide the rescue scheme with round-the-clock quick jet air ambulance service. Babcock will provide a quick jet air ambulance service throughout the EU as part of this contract, which also includes aircraft maintenance, staff provision, and training.
• In February 2021, Air Methods and the OEM signed an HCare maintenance support deal. Air Methods' fleet of 80 EC135 light twins will be covered by this deal.
• In February 2021, Gainjet Ireland, a private aircraft charter operator and management firm, forged a collaboration with Reva. This collaboration intends to establish a European hub at Shannon Airport, as well as generate jobs for nine people, including aircrew and medical personnel.
• In November 2020, Air Methods and HealthPartners, a consumer-governed, nonprofit healthcare company, reached a deal. This arrangement allows Air Methods to provide vital air medical services at lower in-network costs to HealthPartners plan members in Minnesota, Wisconsin, North Dakota, Iowa, Illinois, and South Dakota, totaling 1.8 million people.

Similarly, recent developments related to companies Air Ambulance Services have been tracked by the team at Future Market Insights, which are available in the full report.

Market Segments Covered in Air Ambulance Services Market Analysis

By Type:

• Rotary-wing
• Fixed-wing

By Service Model:

• Hospital-based
• Community-based

By Region:

• North America
• Europe
• Asia Pacific
• Middle East & Africa (MEA)
• Latin America

Frequently Asked Questions

How much is the current worth of the Air Ambulance Services Market?

The global Air Ambulance Services Market is worth more than US$ 19.5 Billion at present.

What is the sales forecast for Air Ambulance Services Market?

The value of the Air Ambulance Services Market is projected to increase at a CAGR of around 12.3% from 2022 to 2032.

Which segment accounted for the largest Air Ambulance Services market share?

Rotary-wing accounts for the largest market share with an expected 12.4% CAGR for the forecasted period.

Which region will have the highest growth rate in Air Ambulance Services Market?

Asia-Pacific will grow with the highest CAGR in the Air Ambulance Services market from 2022 to 2032.

Who are the key players in Air Ambulance Services Market?

Acadian Companies, Aeromedevac, Air Methods, ALPHASTAR, and Babcock Scandinavian AirAmbulance are the major companies operating in Air Ambulance Services Market.