MARKET OVERVIEW- NORTH AMERICA AIR AMBULANCE SERVICES MARKET
Air ambulance is a special type of aircraft designed to provide emergency medical services to patients. These include fixed-wing aircraft and helicopters with onboard medical facilities that are designed to provide healthcare in remote areas where it is challenging to access land-based ambulance services. Air ambulances are equipped with all the medical equipment required for diagnosing, treating, and monitoring injured or ill patients. In air ambulances, it’s not unusual to find medications, ventilators, CPR equipment, stretchers, and other things. The air ambulance service both speeds up the process and helps save patient’s lives. North America has the largest number of air ambulance service providers, and the infrastructure required for air medical transportation is also easily accessible.
MARKET DRIVERS
The surge in the number of people suffering from different chronic diseases, as well as a spike in the geriatric population is expected to drive the market growth. According to the World Health Organization (WHO), chronic diseases are the leading cause of death. It is estimated that over 49% of the U.S. population will be affected by chronic diseases by 2050. Cardiac diseases and stroke account for 30% of the deaths in the U.S. Cardiovascular diseases are the leading cause of death. Furthermore, increased healthcare expenditures and the availability of reimbursement policies are projected to drive demand for ambulance services throughout the projection period. The constant increase in traumatic accidents is likely to drive market expansion. For instance, according to the Insurance Institute for Highway Safety, in 2019, there were 33,244 fatal motor vehicle crashes in the U.S., of which 36,096 deaths occurred. Moreover, upsurge in road accidents and an increase in the demand for ambulance services are fuelling the market growth.
MARKET OPPORTUNITIES
The market is expected to have new opportunities with technological advancement and ongoing R&D activities to develop quality air ambulance services. For instance, in February 2020, Bombardier announced the sale of two Larjet 75 Liberty aircraft to the North Dakota-based Fargo Jet Center. These aircraft were to be converted to a dedicated medevac configuration and delivered to air ambulance service provider Lotnize Pogotowise Ratunkowe, based in Warsaw, Poland. Such factors are expected to create lucrative opportunities for the North America air ambulance services market.
MARKET RESTRAINTS
The growing stringent regulations is expected to hinder the market growth. For Instance, Federal Aviation Administration (FAA) and the National Transportation Safety Board (NTSB) have enforced stringent rules that must be followed by all medical care providers. The FAA has put particular restrictions on decreasing the risk of fatalities and accidents while providing any medical treatment. This is expected to act as a major hurdler for the market growth over the forecast period.
MARKET GROWTH CHALLENGES
The time-consuming procedure of acquiring approval from the government, as well as necessary COVID-19 testing, have hampered air ambulance opertations. This factor is expected to be a major challenge for the market growth over the forecast period.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of North America 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 increasing demand for air ambulance services in various applications has led to an increase in market demand and is expected to witness growth at a specific CAGR from 2023-2029.
NORTH AMERICA AIR AMBULANCE SERVICES MARKET SEGMENTAL OVERVIEW
The North America Air Ambulance Services market comprises of different market segment like type, service, applications and country.
NORTH AMERICA 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 which is expected to propel the growth of the segment.
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.
NORTH AMERICA 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 must pay the aviation service provider for the service model they provide and obtain a Federal Aviation Administration (FAA) certificate. An increase in the use of air ambulance services to rush patients to specialty hospitals is due to the lack of specialized care and medical professionals in some areas.
The community services segment is expected to witness high growth over the forecast period. In a community service model, an independent operator has a base in a 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.
NORTH AMERICA 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 over the forecast period due to rise in prevalence of cardiovascular diseases, which require critical and emergency medical care Inter-facility transport is the transport of patients between two healthcare facilities. 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.
NORTH AMERICA AIR AMBULANCE SERVICES MARKET BY COUNTRY
The Air Ambulance Services market is studied for the following countries
- United States
- Canada
- Mexico
The United States is expected to dominate the market over the forecast period. The rising geriatric population has led to the growth of the North America ambulance services market. The need for emergency medical intervention is high among the geriatric population, which is growing hastily. Elderly people (aged ?65) are currently the fastest-growing group of the general population in the U.S. For instance, according to National Population Projections by the U.S. Census Bureau 2017, nearly one in four U.S. citizens is likely to be an older adult by 2060. The constant increase in traumatic accidents is likely to drive market expansion. According to the National Highway Traffic Safety Administration (NHTSA), 2.74 million people were injured in the same year. Besides, as per the same source, there are an average of 99 fatalities due to vehicle accidents. In the U.S every day, 7,507 persons are injured in car accidents. This is a key factor which is expected to propel the growth of the region.
COVID-19 IMPACT ANALYSIS ON NORTH AMERICA AIR AMBULANCE SERVICES MARKET
Hospitals and health facilities overwhelmed with COVID-19 patients are making it difficult for other patients with acute or chronic ailments to access standard care. The national authorities have to plan for challenges related to the health of their population concurrent with combating the COVID-19 pandemic.
The COVID-19 has positively influenced the air ambulance service market as there was a rise in the need for air ambulances during the pandemic. The growth of the ambulance services market is significantly driven by increasing road accident injuries, the presence of a huge patient pool suffering from various chronic diseases, and the adoption of technological advancements. Due to the COVID-19 health emergency, the majority of the significant manufacturers are concentrating on multiple strategies to defeat the COVID-19 pandemic. These elements may offer positive opportunities for the growth of the ambulance services market, during the analysis period. By adopting such strategies, ambulance service manufacturers across the world are preparing for the post-pandemic impact.
The key players studied in market are
- Air Methods Corporation (US)
- Air Ambulance Specialists (US)
- AMR Air Ambulance (US)
- Lifeguard Ambulance Service LLC. (US)
- Acadian Ambulance (US)
- Acadian Companies (US)
- Aeromedevac (US)
- REVA Air Ambulance (US)
- Native American Air Ambulance (Mexico)
- Airmed International (US)
RECENT DEVELOPMENT:
April 2022: - Bermuda Air Ambulance Company Ltd (BAA), launched its ready to go” air ambulance service, for critically ill and injured patients.
April 2019: - Air Methods and Anthem Plc. expanded their partnership as a part of the in-network health coverage benefits across 6 states in the U.S.
