According to a report, ” Kingdom of Saudi Arabia Air Ambulance Market Size, Share & Trends Analysis Report By Type (Rotary-Wing, Fixed-Wing), By Service Model (Community-based, Hospital-based), And Segment Forecasts, 2018 – 2025 ” published by Grand View Research, Inc., The Kingdom of Saudi Arabia (KSA) air ambulance market size is expected to reach USD 146.8 million by 2025, according to a new report by Grand View Research, Inc., registering a 10.4% CAGR during the forecast period. Rise in per capita healthcare expenditure and increasing penetration of private hospital chains are some of the key factors contributing to market growth.
Increasing prevalence of chronic diseases such as cardiac conditions, which demand emergency medical response, and improvement in medical infrastructure in entertainment and sports industries are also anticipated to boost the market.
Key Takeaways from the report:
The hospital-based service model is anticipated to reach USD 117.1 million by 2025 in terms of revenue, at a CAGR of 10.3% from 2017 to 2025
In terms of growth rate, the community-based service model segment is projected to ascend at a CAGR of 10.6% over the forecast period
The rotary wing segment dominated the Kingdom of Saudi Arabia air ambulance market with a share of over 75.0% in 2016
Some of the key companies present in the market are Saudi Air Ambulance; Fakeeh International; ALPHASTAR; Air Ambulance Worldwide, Inc.; Plures Air; and Global Air Rescue.
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Disease prevalence of chronic disorders, especially cardiac disorders, is one of the major causes of death in Saudi Arabia. An estimated 42.0% of deaths in Saudi Arabia are due to cardiac disorders. Rapid socioeconomic growth in Middle Eastern countries has resulted in drastic lifestyle changes, which can be considered as a major reason for increasing prevalence of lifestyle disorders.
The per capita healthcare expenditure in Saudi Arabia has increased by 80.7% since 1995, and as of 2014 it was found to be USD 1,147.45. This is anticipated to increase the demand for more innovative emergency medical service facilities. This, in turn, is expected to increase the demand for air ambulance services.
Grand View Research has segmented the Kingdom of Saudi Arabia air ambulance market on the basis of type and service model:
KSA Air Ambulance Type Outlook (Revenue, USD Million, 2014 – 2025)
KSA Air Ambulance Service Model Outlook (Revenue, USD Million, 2014 – 2025)
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Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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