Air ambulance services use an aeroplane to carry patients from one place to another while also provide on-site medical care. In India, air ambulance services are incredibly affordable as they can transport patients and offer medical attention at a far lower price than conventional ground ambulances. Several thousand to several lakhs of rupees might be spent on air ambulance services, depending on the kind of medical attention and transportation needed. Because air ambulance services can be scheduled in advance and the patient may be dropped off at their destination promptly, they are also incredibly handy.
According to SPER market research, ‘Air Ambulance Services Market Size- By Service Operator, By Service Type, By Aircraft Type, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Air Ambulance Services Market is predicted to reach USD 19.38 billion by 2033 with a CAGR of 10.81%.
The need for air medical services is being driven by an increase in heart attacks, strokes, and trauma. As the population ages and the frequency of chronic diseases increases, there will be a significant increase in demand for air ambulance services. The frequency of life-threatening medical emergencies or patients without quick access to a healthcare institution would rise significantly as a result of the growing incidence of chronic illnesses, creating a demand for air medical services. Growth in the air ambulance services market will also be fueled by the rapid advancement of technology. In air ambulances, the level of care provided to patients undergoing evacuation through the utilisation of advanced and innovative medical technology is increasing. In addition, advanced technical communication systems provide the transfer of real data on a patient's status to medical professionals, allowing doctors to prepare for an emergency.
In many places, there is little to no insurance coverage for air ambulance services. Because of this, even in dire situations, the patients are less inclined to employ air ambulance services. The demand for these services might not be as high if there are no suitable insurance choices. It also costs a lot of money to run air ambulance services. It covers personnel, fuel, and aircraft purchase and maintenance costs. The expenditures of adhering to aviation laws, keeping the required medical supplies, and maintaining staff standards also apply. Due to their high operational expenses, air ambulance operators may find it more difficult to operate and deliver services at a reasonable price. This makes it difficult for new competitors to enter the industry.
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Market turbulence, a notable deceleration in the supply chain, a reduction in corporate assurance, and a growing degree of fear among particular customer groups are all being brought on by the COVID-19 crisis. Numerous governments have previously imposed interim closures and industrial lockdowns, which have a detrimental effect on overall sales and productivity. On the other hand, the COVID-19 epidemic was beneficial to the air ambulance industry. This might be attributed to the increased need for air ambulances during the epidemic.
Geographically, the market for air ambulance services was dominated by North America. The region's concentration of significant service providers is credited with the expansion. In the base year, Europe had the second-highest market share. Well-established healthcare systems and a strong focus on patient safety and treatment quality are to blame for the market's expansion. Additionally, some of the market key players are Aeromedevac, Air Methods, ALPHASTAR, Babcock Scandinavian AirAmbulance, Gulf Helicopters, European Air Ambulance, Express Aviation Services, PHI Inc., REVA Inc., and others.
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Air Ambulance Services Market Outlook
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