Dominating global market trends in AAS

Dominating global market trends in AAS

According to findings published by Polaris Market Research, the Global Air Ambulances Services (AAS) market is expected to reach a value of over $8.2billion in 2026.

According to findings published by market research and consulting firm Polaris Market Research, the Global Air Ambulances Services (AAS) market, which was estimated to be worth over US$4billion in 2017, is expected to reach a value of over $8.2billion in 2026 – a growth that can be accredited to growing occurrences of life-threatening diseases, such as cardiac ailments demanding emergency medical attention, as well as increased awareness of air ambulance transportation services.

During the last decade, global healthcare spending per head has risen drastically. According to the World Bank Group, an international financial institution that provides loans to developing countries, there has been a 55-per-cent increase in healthcare expenses during this period, which in turn saw an elevated demand for better and faster health recovery.

Polaris Market Research revealed that the key players in global ASS included: AMR, PHI Air Medical, Scandinavian Air Ambulance, IAS Medical, Express AirMed Transport, Native American Air Ambulance, Lifeguard Air Ambulance, REVA Air Ambulance, and Acadian.

The global AAS market is segmented on three bases, and success is measured within these: those of a certain ‘type’ that dominate the market – this refers to both rotary-wing and fixed-wing services; those of a certain ‘model’, which include hospital-based and community-based (provided through partnerships with private companies and other public health organisations); and those that dominate in terms of ‘geography’.

Based on ‘type’, rotary-wing dominated the market in 2017 due to its vast use of transportation for shorter distances. Based on ‘model’, the hospital-based services came top due to the availability of emergency response by medical crew present in the air ambulances. Based on ‘geographical’ dominance, North America is the supposed ‘leader’ of the global AAS market, a result that comes down to the availability of supportive organisations for air medical transportation, favourable reimbursement policies, and high presence of local and external service providers.

However, within the forecast period of 2018 to 2026, Asia Pacific is expected to overtake North America in terms of growth thanks to the improving economic environment and significant growth of air medical facilities in countries such as India, China and Japan. Presence of multinational corporations in the region will likely also support the fast growth of the AAS market in the Asia Pacific.