Air Ambulance Services Market in North America to Surpass US$ 3,727.8 Million by 2027, Says Coherent Market Insights (CMI) | Financial Buzz

Air Ambulance Services Market in North America to Surpass US$ 3,727.8 Million by 2027, Says Coherent Market Insights (CMI)

According to Coherent Market Insights, the North America Air Ambulance Services Market is estimated to be valued at US$ 2,248.3 million in 2020 and is expected to exhibit a CAGR of 7.5% during the forecast period (2020-2027).

Key Trends and Analysis:

The North America air ambulance services market is expected to witness significant growth owing to presence of favorable reimbursement policies for air ambulance services in developed economies such as the U.S. For instance, according to statistics provided by the Government Accountability Office (GAO), the Medicare and Medicaid payments accounted for around 30.0% and 12.0% of market revenue, respectively, while private insurers accounted for approximately 50.0% out-of-pocket payments, which are as rare as air ambulance service is expensive.

For instance, in July 2018, the Center for Medicare and Medicaid Services maintained a national fee schedule for air ambulance service providers, which includes adjustment factors for pick-ups in rural areas.

Moreover, various key players in the market are expanding their business by adding new air ambulance aircraft which is expected to drive the market growth during the forecast period.

For instance, on December 16, 2020, AirCare1 added Learjet 60 to its fleet of air ambulance aircraft. The newly added Learjet 60 will provide medical transport flights throughout North, South, and Central America including Alaska and the Caribbean, as well as worldwide operations in the near future.

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For instance, in August 2017, Aitheras Aviation Group announced the addition of a Challenger 601 jet to its fleet. The Challenger 601 is a nine-passenger jet manufactured by Bombardier Aerospace and it is based at Cleveland’s Burke Lakefront Airport.

Challenger 601 can be converted from an executive charter configuration to a medical bed configuration within two hours.

Key Market Takeaways:

The North America air ambulance services market is expected to exhibit a CAGR of 7.5% during the forecast period (2020-2027) owing to increasing collaborations among key players to improve patients’ accessibility to air ambulance services. For instance, in April 2020, Life Flight Network, a not-for-profit air medical transport service provider in the U.S., announced a partnership with Montana Health CO-OP and Idaho’s Mountain Health CO-OP.

The agreement will provide members across Montana and Idaho states with Life Flight Network’s critical care transportation services.

Competitive Landscape:

Key players operating in the North America air ambulance services market are Alacura Medical Transportation Management LLC, Air Methods. Acadian Air Med, an Acadian company, Aeromedevac, AirMed International, LLC, AirCARE1, Jet Rescue International, MedWay Air Ambulance, IAS Medical, US Air Ambulance, Air Medical Group Holdings (AMGH), Express Air Medical Transport, Air Ambulance Worldwide, AeroCare Medical Transport System, Inc., REVA, Inc., UNC Health Care, Aitheras Aviation Group, LLC, KIDZ Medical Service, Suncoast Air & Ground Medical Transport, Classic Air Medical, Sunrise Air Ambulance, Inc., Aero Jet Medical, Fox Flight Inc., WellCare Air Ambulance Services, Advanced Air Ambulance, Corp., American Air Ambulance, Lifeguard Ambulance Service LLC, Aviation West Charters, LLC and PHI Air Medical.

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Market Segmentation:

  • North America Air Ambulance Services Market, By Service:

    • Hospital-based Service
    • Community-based Service
  • North America Air Ambulance Services Market, By Aircraft Type:

    • Helicopter
    • Aircraft/Airplane

      • Rotary Winged Aircraft
      • Fixed Winged Aircraft
  • North America Air Ambulance Services Market, By Country:

    • U.S.
    • Canada

Related Market Intelligence Reports:

Global Air Ambulance Services Market, by Service Type (Hospital-based Services and Community-based Services), by Aircraft Type (Helicopter, Drone Ambulance Aircraft/Airplane (Rotary Winged Aircraft and Fixed Winged Aircraft), and Seaplanes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2020 – 2027

Read more: https://www.coherentmarketinsights.com/market-insight/air-ambulance-services-market-6

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.

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