Air Ambulance Services Market Overview:
In a recent research report by Reports Insights Consulting Pvt. Ltd, the Air Ambulance Services Market is expected to surpass USD 9.70 Billion by the year 2028, from USD 5.09 Billion in 2021.
In emergency medical conditions air ambulance services market are greatly preferred. During the use of air ambulance services emergencies, patients or their families are required to pay heavy charges. Repayment plans assist patients in recovering expenses and lessening this load. For services like Medicare and Medicaid, many businesses offer compensation which is anticipated to grab larger market attention. Additionally, the majority of employee benefit plsans and medical insurance policies include coverage for air ambulance services which increases the demand in the Air ambulance market.
North America is estimated to lead in the regional segment of its Air ambulance service market due to the growing prevalence of cardiovascular diseases. Further, stocks are the most common cause of death worlds wide. Moreover, the adoption of high technologies, and advanced infrastructure is anticipated to lift the growth of the market. Further, Asia Pacific is estimated to support the growth of the market in the forecast period. The presence of developing countries in the region, including China, India, Japan have boosted the demand for Air ambulance services.
The Service Operator segment includes hospital-based, independent, and government. The hospital-based category dominated the air ambulance services market with a revenue share of 71.3% in 2021. A hospital often supplies a medical team and collaborates with an aviation service provider to offer aircraft, pilots, and mechanics in a hospital-based service model. The hospital pays the aviation service provider for the service model they deliver, and they must possess a Federal Aviation Administration (FAA) certificate.
The market is projected to grow at a significant pace reaching a CAGR of approximately 8.4%, over the forecast period of 2022–2028, despite a considerable fall in Service Operator sales during the initial phase of pandemic spread and lockdown restrictions imposed globally.
The study is consolidated into major segments and further into sub-segments, such as by Type (Rotary-wing, Fixed-wing), Service Operator (Hospital-Based, Independent, Government), Service Type (Domestic, International), to forecast the air ambulance services market size by value; also includes the analysis of past market dynamics from 2016 – 2021, considering 2021 as the base year.
Lastly, the report includes a regional analysis and country analysis with the latest trends, along with the major key players including Acadian Companies, Aeromedevac, Air Methods, ALPHASTAR, Babcock Scandinavian Air Ambulance, Gulf Helicopters, European Air Ambulance, Express Aviation Services, PHI Inc, REVA Inc.
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