The global Air Ambulance Services Market size is expected to reach USD 11.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.0% from 2021 to 2028. AMR, PHI Air Medical, Babcock Scandinavian Air Ambulance are some of the key players in this industry. The increasing number of accidents, the impact of COVID-19, and technological advancements are the key driving factors for the market.
Air ambulance services are used generally in case of
medical emergencies. Patients or their family members have to bear high costs
in case the services are availed in dire situations. Thus, reimbursement plans
help patients recover costs and reduce this burden. Many companies offer
reimbursement for the services such as Medicare and Medicaid. Moreover, the
majority of the medical insurance guidelines and employee benefit plans offer
some type of air ambulance coverage. The United States Department of Health and
Human Services has included an air medical reimbursement plan in the Affordable
Care Act. In February 2017, lawmakers in Montana supported two air ambulance
regulation bills with an aim to reduce the economic burden on patients.
It was estimated that around 49.0% of the U.S. population
will be affected by chronic diseases by 2025. Cardiac diseases and stroke
account for 30.0% of the deaths in the U.S. Cardiovascular diseases are the
leading cause of death globally. Stroke is the second most common cause of
death worldwide. According to the WHO, it is estimated that by 2020, chronic
diseases will account for 3/4th of the total deaths globally, out of which, 71%
will be caused by ischemic heart diseases and 75% of deaths will be caused by
stroke. India and China have a high prevalence of cardiac diseases. Chronic
diseases, such as cardiac diseases and stroke, usually require an emergency
medical response. The services provide rapid response in case of such emergency
medical situations. Air ambulances are equipped with advanced and innovative
medical care for cardiac, stroke, chronic obstructive pulmonary disorder, and
trauma patients.
Related Press
Release @ Air
Ambulance Services Market Report
Air Ambulance Services Market Report Highlights
- In
terms of revenue, the rotary-wing segment held the largest revenue share
in 2020. The rising number of cardiovascular diseases across the globe is
the major factor propelling segment growth
- The
hospital-based segment held the largest market share in 2020 and is
expected to witness a considerable growth rate over the forecast period
due to the increasing number of emergency cases
- In
Asia Pacific, the market is expected to witness the fastest growth rate
over the forecast period owing to the rising prevalence of chronic
diseases
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