Air Ambulance Services Market Growth Opportunities Created by COVID19 Outbreak

As the number of vehicles on roads is growing, the prevalence of road crashes across the globe is also surging. There can be no doubt about the fact that the number of people owing private vehicles is quite higher than it was 10 years ago or even 5 years ago. This has resulted in the lowering of safety on roads. As per the World Health Organization, about 1.35 million people die every year because of road traffic crashes. About 20–50 million people suffer from non-fatal injuries, resulting in disability. In addition to this, these crashes cost various countries 3% of their gross domestic product.

Attributed to these factors, the global air ambulance services market is predicted to reach a value of $15.9 billion by 2030, rising from $8.9 billion in 2019, advancing at a 5.4% CAGR during the forecast period (2020–2030). Fixed-wing and rotary-wing are the two aircraft types that are utilized for providing air ambulance services. Between these two, the demand for rotary-wing aircrafts or helicopters was higher in the past. Most of the patient transportation services take place for medium and short distances, within the city or state boundaries in a country. Characteristics including smaller landing and take-off area and hovering capabilities of these aircrafts is also leading to their rising demand.

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Geographically, North America has been the largest air ambulance services market in the past, which is particularly attributed to the presence of a number of companies that provide air ambulance services, covering a large number of states in the region. Furthermore, the region already as associated infrastructure for these services and the high per capita income of people make these services more affordable. Apart from this, the adoption of air ambulance services is also expected to rise considerably in the coming years due to the rising prevalence of cardiovascular diseases in countries including India and China.

Hence, the need and demand for air medical services is increasing because of the surging number of road traffic crashes.