increasing prevalence of infectious diseases is driving the Air Ambulance Market
Technavio analyzes that the Air Ambulance Market is expected to grow at a CAGR of 10.05% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 6.77 billion.There are various factors that contribute to the growth of the market. The global air ambulance market is experiencing significant growth due in part to the rising incidence of infectious diseases. As these conditions often require urgent medical attention, air ambulances offer a swift and effective means of transportation for patients, enabling them to receive timely and specialized care. This is particularly crucial in remote areas or when ground transportation is not an option. The market is further driven by advancements in technology and increasing government investments in healthcare infrastructure.
In the Air Ambulance Market, hospital-based models have gained significant traction, enabling multi-specialty hospitals and healthcare centers to offer advanced medical transportation services. Under this business model, hospitals own the medical program, providing medical staff, such as doctors and nurses, as well as communications technologies, including ventilators, heart monitors, and defibrillators. Major hospitals utilize helicopter ambulances to transport patients from remote areas to hospitals for specialized care. For instance, St. Louis University Hospital outsources helicopter and pilot services from a third-party company while maintaining control over the medical support team, equipment, and medications. This model ensures efficient and timely delivery of critical medical care to high-risk patients, enhancing overall healthcare service quality.
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Air Ambulance Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
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Air ambulances, utilizing helicopters and fixed-wing aircraft, provide time-critical transportation for patients with various medical conditions, such as trauma from road accidents, stroke, heart attacks, diabetes, cancer, and chronic ailments. Equipped with medical devices and a trained medical crew, these aerial vehicles fly directly from the accident scene to medical facilities, bypassing lengthy ground transports and saving precious minutes during emergencies. Interhospital transports also use fixed-wing air ambulances for long-distance transfers between medical institutions.
The Air Ambulance Market is a segment of the larger Global Aerospace and Defense Market, which falls under the Capital Goods sector. This market comprises aerial vehicles equipped with medical devices, staffed by trained medical personnel, and designed for transporting patients during emergencies to medical facilities. The Aerospace and Defense Market encompasses various domains, including commercial and general aviation, naval, land, and air defense, arms and ammunition, defense electronics, defense logistics equipment, and space platforms, equipment, and launch vehicles. Additionally, it covers MRO activities related to these industries. The Capital Goods Market size is determined by the collective revenue generated by manufacturers and providers for sectors such as Aerospace and Defense, Building, Construction and Engineering, Electrical Equipment, Industrial Conglomerates, Machinery, Trading Companies, and Distributors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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