Report : Europe Air Ambulance Services Market Forecast to 2031 - Regional Analysis - by Aircraft Type (Rotary Wing and Fixed Wing), Service Model (Hospital-Based, Government Run, and Independent), End User (Domestic and International)
At 7.9% CAGR, Europe Air Ambulance Services Market is Projected to be worth US$ 6,086.77 million by 2031, says Business Market Insights
According to Business Market Insights’ research, the Europe air ambulance services market was valued at US$ 3,322.96 million in 2023 and is expected to reach US$ 6,086.77 million by 2031, registering a CAGR of 7.9% from 2023 to 2031. Air ambulance cover in health insurance policies and increasing spending on healthcare-related services are among the critical factors attributed to drive the Europe air ambulance services market growth.
The growing consumer awareness of the advanced healthcare facilities offered by hospitals and care centers is pushing health insurance companies to cover air ambulance facilities in the policy coverage. The inclusion of air ambulance facilities in the insurance policy is providing growth opportunities for air ambulance services at the global level. Air ambulances are medically well-equipped with ventilators, ECG machines, required medical equipment, and healthcare professionals on board. This confirms that the patient receives their treatment within the best feasible time. However, advanced medical equipment and expert medical professionals, adding up to the expense of aircraft maintenance, make the aircraft ambulance charges quite expensive. While it is an important factor in critical needs, its expenditure becomes a financial burden on the patient.
An air ambulance cover offers financial coverage for the expenditure encountered when opting for an air ambulance in times of requirement. Many insurers offer air ambulance coverage in their health insurance policies. A few others provide it as an add-on service that can be obtained separately from the health insurance policy. However, the coverage and its features may differ across various insurance service providers. Reduced time for long-distance travel, well-equipped facilities to address critical patients, and safe and comfortable transport of patients are among the major attributes of air ambulance services. The increasing number of insurance companies covering air ambulance services in health insurance policies is expected to offer opportunities for the air ambulance services market during the forecast period
On the flip side, financial and regulatory hurdles hamper the growth of Europe air ambulance services market.
Based on aircraft type, the Europe air ambulance services market is bifurcated into rotary wing and fixed wing. The rotary wing segment held 60.0% market share in 2023, amassing US$ 1,994.29 million. It is projected to garner US$ 3,767.52 million by 2031 to register 8.3% CAGR during 2023–2031.
In terms of service model, the Europe air ambulance services market is categorized into hospital-based, government run, and independent. The hospital-based segment held 62.6% share of Europe air ambulance services market in 2023, amassing US$ 2,080.00 million. It is anticipated to garner US$ 3,921.64 million by 2031 to expand at 8.2% CAGR during 2023–2031.
In terms of end user, the Europe air ambulance services market is bifurcated into domestic and international. The domestic segment held 65.9% share of Europe air ambulance services market in 2023, amassing US$ 2,189.38 million. It is anticipated to garner US$ 4,108.33 million by 2031 to expand at 8.2% CAGR during 2023–2031
Based on country, the Europe air ambulance services market is categorized into Germany, the UK, France, Italy, Russia, and the Rest of Europe . Our regional analysis states that Russia captured 29.4% share of Europe air ambulance services market in 2023. It was assessed at US$ 977.21 million in 2023 and is likely to hit US$ 1,702.85 million by 2031, registering a CAGR of 7.2% during 2023–2031.
Key players operating in the Europe air ambulance services market are Aero-Dienst GmbH, Babcock International Group Plc, IAS Medical, Medical Air Service, PHI Air Medical, Quick Air Jet Charter GmbH, Airlec Air Espace, and TrustAir Aviation Ltd, among others.
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