MARKET OVERVIEW- EUROPE AIR AMBULANCE SERVICES MARKET
Air ambulance are special type of aircraft, that are designed to perform air medical services in emergency situations where land-based medical help takes time to reach. Air ambulance includes aircraft and helicopters, which are equipped with all the medical facilities and are intended to provide medical assistance at locations such as hilltop or at locations where road-based ambulance services do not reach easily. The increased number of accidents and other life taking threats, such as major strokes, heart attack, trauma, and other such medical ailments, creates an increased demand for efficient ambulance services to be present, which eventually leads to the growth of air ambulance services across the globe.
MARKET DRIVERS
Rising prevalence of chronic disorders, an increasing geriatric population, and technological advancements are the major factors driving this market’s growth. The increasing emergency healthcare expenditure, rising number of hospitals providing air ambulance services, and enhancing medical facilities across Europe are the other factors, supporting the market’s growth. The increasing prevalence of chronic diseases such as diabetes, cardiac diseases, and cancer amongst other chronic disorders has surged demand for air ambulance services. Cardiovascular disease is one of the most common cause of death in Europe. According to the European Heart Network AISBL, CVD causes around 3.9 million deaths per year in Europe and above 1.8 million deaths in the European Union (EU). Thus, factors such as adoption of unhealthy and sedentary lifestyles, obesity, alcohol and tobacco consumption, and physical inactivity are contributing to the increase in the prevalence of these diseases.
MARKET OPPORTUNITIES
Increasing healthcare expenditure in the region is expected to provide an ample opportunity for air ambulance services. According to Eurostat, in 2018, healthcare expenditure accounted for 9.9% of GDP. Amongst the EU Member States, the major shares were reported in Germany (11.5% of GDP), France (11.3%), and Sweden (10.9%). Further, as per the Organization for Economic Co-Operation and Development, in 2019, Switzerland had the second-highest healthcare budget after the U.S., with expenditures accounting for USD 8,000 per capita. Moreover, technological developments in air ambulance services are stimulating market growth.
MARKET RESTRAINTS
The stringent rules regulating emergency medical services is a major factor restraining market revenue growth. Also, due to the high cost of air medical services and the stringent rules and lengthy procedures, the market is supposed to face some hindrances.
MARKET GROWTH CHALLENGES
The time-consuming procedure of acquiring approval from the government, as well as the necessary COVID-19 testing, have hampered the operations of air ambulances. This factor is expected to be a major challenge for the market’s growth over the forecast period.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of the Europe Air Ambulance Services market, market size, and compound annual growth rate (CAGR) for the forecast period of 2023-2029, considering 2022 as the base year. The rising cases of chronic disorders, and rapid technological advancement related to air ambulances has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2023-2029.
EUROPE AIR AMBULANCE SERVICES MARKET SEGMENTAL OVERVIEW
The Europe Air Ambulance Services market comprises of different market segment like type, service, applications and country.
EUROPE AIR AMBULANCE SERVICES MARKET BY TYPE
By type, the Air Ambulance Services market includes the key segments of
- Rotary Wing
- Fixed Wing
- Others
The rotary wing segment is expected to dominate the market over the forecast period. In 2021, the rotary type held the largest market share due to its versatility, which allowed it to land almost anywhere when a ground ambulance would have had trouble getting to the patient. Rotor-wing air ambulances are the name given to helicopters. The cost and response time for helicopter-based air ambulance services are both favourable. Helicopters are a good substitute for land ambulances as they can land almost anywhere, including streets, parks, fields, congested urban areas and paved areas. Hospitals use rotary wing air ambulance services to transport the medical team to a patient's location and then escort them back to the hospital. This is a key factor that is expected to propel the growth of the segment.
On the other hand, the fixed wings segment is expected to witness the fastest growth over the forecast period. Air ambulances with fixed wings can cover long distances because they have a better fuel capacity than rotating wing aircraft. Fixed wing aircraft can work in unpleasant weather conditions without compromising the comfort and quality of patient care.
EUROPE AIR AMBULANCE SERVICES MARKET BY SERVICES
The Air Ambulance Services market offers services like
- Hospital Services
- Community Services
- Government Services
- Independent Services
- Others
The hospital services segment is expected to dominate the market over the forecast period. In a hospital-based service model, a hospital generally provides the medical team and partners with an aviation service provider for aircraft, pilots, and mechanics. The hospital supplies all the medical personnel engaged in the program. To cover the service's costs, the hospital charges patients directly (Medicare, Medicaid, private insurance, third-party responsibility) at a rate they choose. The hospital controls the program's branding, public image management, and all significant choices. A well-managed hospital-based medical transport program can develop into a revenue-generating component of the hospital or healthcare system by controlling the rates paid to the patients.
The community services segment is expected to witness high growth over the forecast period. In a community service modern, an independent operator has a base in the community and serves various locations and service models. The demand for community air ambulance services has increased as a result of rural communities' increasing need for access to healthcare. This is a key factor that is expected to propel the growth of the segment.
EUROPE AIR AMBULANCE SERVICES MARKET BY APPLICATION
The Air Ambulance Services market has major applications in
- Rescue Helicopter Service
- Inter-Facility
- Infectious Diseases Services
- Organ Transport Logistics
- Others
The inter-facility logistics segment is expected to dominate the market. The rise in prevalence of cardiovascular diseases which requires critical and emergency medical care Inter-facility transport is expected to boost the segment growth. The process is usually carried out by land transport or by air. It is an essential part of today's healthcare system, allowing facilities to move patients who need specialized care that cannot be adequately provided at their current facility. The deployment of emergency medical services (EMS) between facilities ensures that a patient receives the care they need in a quick and safe manner.
EUROPE AIR AMBULANCE SERVICES MARKET BY COUNTRY
The Europe Air Ambulance Services market is studied for the following countries
- United Kingdom
- Germany
- France
- Italy
- Spain
- Rest of Europe
Germany is expected to dominate the market over the forecast period. The presence of a well-established healthcare system in the country, including trained staff and medical facilities, and the high adoption of air ambulance services are the major factors fuelling the growth of the market in Germany. The country also has an advanced air ambulance network, comprising primary EMS helicopters, inter-hospital transport, and dual-use helicopters. Germany has the fourth highest share of its population over 65 years in the OECD, with a growing number of people affected by chronic conditions. Heart disease is among the major causes of death in Germany. For instance, as per data published on the website of the Max Planck Institute for Biology of Ageing, Cologne, Germany, around 1.5 million people are affected by coronary heart disease. Thus, the increasing prevalence of chronic diseases, the rising elderly population, and growing healthcare expenditure are among the factors expected to drive market growth in Germany.
COVID-19 IMPACT ANALYSIS ON EUROPE AIR AMBULANCE SERVICES MARKET
The COVID-19 outbreak has positively impacted the Europe air ambulance services market. The increasing patient population suffering from COVID-19 provides an opportunity for the market players to launch air ambulance services for the patients in order to transfer them from remote villages to urban sprawls in a quick time. For instance, in May 2021, Swedish Air Ambulance (SLA) obtained AUK Protection. As per the contract, a complete apparel system will be supplied for their helicopter staff members. SLA staff will be fortified with apparel from the new EMS Collection by AUK Protection, which is designed to meet the demands of crews on flights as well as at accident sites. Thus, rising investments by the key players to adopt and develop innovative technologies are likely to spur market growth in the forecast period.
The key players studied in market are
- Babcock Scandinavian Air Ambulance
- Gulf Helicopters
- European Air Ambulance
- Yorkshire Air Ambulance
RECENT DEVELOPMENT:
April 2021: - Babcock Norway has been granted a novel contract with the European Union (EU). This contract intends to provide round-the-clock and speedy jet air ambulance service to the RescEU scheme. The contract also includes aircraft maintenance, workforce facilities and training. The contract intends to use a new Cessna C680A Latitude aircraft, which is currently used in the company’s present fixed-wing air ambulance contract in Norway.
February 2021: - REVA, Inc. partnered with Gain jet Ireland, a privately held aircraft charter operator, and management firm. The aim of the partnership is to establish a European center at Shannon Airport. It also aims at providing employment for aircrew and medical personnel staff. The service employs a twin-jet Hawker 800XP. It is a fixed-wing aircraft which allows it to fly additional distances as compared to their present air ambulance services in Ireland which use helicopters.
