5 Oct 2018 – The Market Size For Global Air Ambulance Services was worth USD 3.7 billion in 2016 which is anticipated to grow at a CAGR of more than 9.3% during the forecast period. The factors contributing to the growth of the market are increasing the prevalence of chronic diseases, for instance, cardiac disorders which need an emergency medical response, accessibility of reimbursement policies, rising per capita healthcare expenditure and improvement of medical infrastructure in entertainment & sports industry.
An exponential rise in the per capita healthcare spending is observed worldwide in the past twenty years. According to the statistics given by The World Bank Group, in 1996 Cheap Men's Nike Air Max 90 EZ Jogging Shoes Cool Grey , the per capita healthcare expenditure was approximately USD 467.6 and this figure raised exponentially to USD 1,060.9 in 2014. The 55.0% growth in per capita healthcare spending can be associated with better access to quality care, better economic conditions, and rising awareness amongst the population. These factors also contribute towards a rise in demand for air ambulance services in the last five years.
The air ambulance service operators, particularly in developing nations, are offering a wide spectrum to air ambulance services to leverage the increasing demand. Additionally Cheap Nike Air Max 90 EZ Sneakers Black , increase in the number of service providers has intensified the competition in this market. For instance, there exist more than 1,300 aircrafts provided by 300 air ambulance operators, cumulatively, in the U.S.
The incidence of chronic disorders which require an emergency response, for instance Cheap Nike Air Max 90 EZ Shoes White , cardiovascular conditions, are increasing at alarming rate. According to a report published by the WHO, cardiovascular diseases contributed to the highest number of total global fatalities. In 2012, 17.5 million deaths translating to 31.0% of the global deaths occurred due to cardiovascular disorders. Air ambulances are highly useful in life-threatening conditions and therefore, these services have continued to hold a steady demand in spite of being expensive.
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Developed economies, for instance cheap nike air max 90 ez , the U.S., provide reimbursement policies which enable the air ambulance service providers to overcome the issues related to high service prices and helped the market grow at a remunerative rate. The Government of Accountability Office (GAO) published statistics which say that Medicaid and Medicare payments contributed to approximately 12.0% and 30.0% of market revenue correspondingly whereas private insurers contributed to nearly 50.0% of market revenue. The air ambulance services are expensive, therefore, out of pocket payments are infrequent.
Type Insights
Based on the type, the global air ambulance market is segmented into fixed wing services and rotary wing services. The rotary wing services, involving helicopter based air medical transport cheap nike air max 90 utility , held more than 68.0% of market share in 2016. These services are used for medical transfer of patients for shorter distances. Additionally, helicopters can easily land on streets, rooftops, and ground thereby increasing the accessibility of these services.
Fixed-wing services refer to aircraft equipped with medical instruments and a medical crew. These services are used to transfer patients to longer distances. These aircrafts are most commonly business jets or private jets modified to accommodate medical equipment and crew.
Based on the service model, the global air ambulance market is segmented into hospital-based and community-based services. Hospital-based services held the largest share in 2016 and are projected to grow at a lucrative rate during the forecast period. A majority of hospitals in developed nations provide these services wherein the medical crew is supplied by hospitals in emergency response situations.
Community-based services operate owing donations provided by businesses or public in general. These services function by partnering with community health centers or private players. For instance, in the U.S. cheap nike air max 90 ultra essential 2.0 , Air Methods provides a variety of community-based services such as Air Idaho Rescue in Montana, Idaho, and Wyoming.
Regional Insights
North America dominated global air ambulance market in 2016. Availability of the supportive air medical transport infrastructure, the presence of reimbursement plans, and the local existence of a large number of air ambulance operators has fueled the growth of the market in this region.
On the other hand, Asia Pacific is expected to grow at a lucrative rate of more than 11.0% over the forecast period. The economic conditions in this region are improving and countries like China and India are leading countries on global investments. Accessibility of large labor pool and affordable services are promoting many multinational companies to invest in this region. Many multinational business conglomerates provide air ambulance services as safety protocol component.
Competitive Insights
The global air ambulance market consists of many key players such as PHI Air Medical cheap nike air max 90 master , Native American Air Ambulance, Acadian, Lifeguard Air Ambulance, Express AirMed Transport, REVA Air Ambulance, IAS Medical cheap nike air max 90 pinnacle , AMR, and Scandinavian Air Ambulance.
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