The air ambulance market in the United States and around the world has seen a steep growth despite the rising costs. Of course, cost has not been a factor in countries like Japan and UK, with the former known to offer free medical flight services to its citizens. However, cost is not the only factor that affects the market growth of air medical transport industry. Here, we list out a few factors that are proving crucial in this regard.
A Huge Ageing Population and their Health Needs
The quality of health care in the developed world has advanced to the extent that the life expectancy of individuals has shot up considerably. Naturally, their medical needs are oftentimes urgent and call for air medical services. With the birth rate in the developed world on a decline in general, this trend is something that is expected to continue.
Value Addition by Old Age Homes in the form of Medical Flight Services
Old age homes, especially in the developed nations in Europe and the US, are offering additional health services like air ambulances through tie-ups and hosting their own medical flights. The demand is being fuelled owing to this trend. Moreover, old age homes are making this service a norm today.
Adoption of Air Ambulances by Latin America and the Developing Nations
Latin America is increasingly veering towards air ambulance services. Developing countries like India and even Nepal are adopting air ambulance services. The increasingly per capita income in these countries could be a big factor that is fueling this trend.
The Growth Forecast
According to a recent study, the current air ambulance market in the United States stands at 7,030 million dollars; however, it is expected to grow to 10,400 million dollars by the year 2025, which is very promising for the industry, unless several new players join the foray and compete out the advantage.