Fixed Wing Air Ambulance Service Market is expected to reach US$ 1960.8Mn by 2026 from US$ 977.6Mn in 2017 at CAGR of 9.09%.
Global Fixed-wing air ambulance service market is segmented by service, service model and region. Service is classified as medical evacuation and repatriation and medical escort service. The service model is split into community-based and hospital-based. Region-wise divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Global Fixed Wing Air Ambulance Service Market
Increasing demand for emergency medical transport and Emergency Medical Services (EMS) has driven investments in the market. Government initiatives directed at public healthcare reforms have been a key factor in promoting investments in the sector, so, fostering industry growth. Demand for fixed-wing air ambulances services is expected to grow on account of increasing spending capacity of people in developing countries. Service providers are also collaborating with numerous local organizations to offer access to air ambulances for employees travelling abroad.
Based on the service model, a community-based segment is dominating the fixed-wing air ambulance service market. Corporate social responsibility (CSR) activities have become an integral part of differentiation strategies adopted by businesses. CSR initiatives are top to increased donations and funding made by different organizations in the healthcare sector. There has been a significant rise in the number of charity services funded solely by donators. Such initiatives are anticipated to drive the community-based segment.
In terms of region, North America was the largest revenue contributing region due to the presence of a large number of players followed by Europe. The Asia Pacific is an emerging region and is expected to witness significant growth over the upcoming years. Favourable government initiatives pertaining to EMS are bolstering the growth of the market in APAC.