South Korea Air Ambulance Services Market Size, Share, and COVID-19 Impact Analysis, By Type (Rotary Wing, Fixed Wing), By Application (Hospital Based, Community-Based), and South Korea Air Ambulance Services Market Insights Forecasts 2023 – 2033

Industry: Healthcare

RELEASE DATE Jan 2024
REPORT ID SI3371
PAGES 200
REPORT FORMAT PathSoft

South Korea Air Ambulance Services Market Insights Forecasts to 2033 

  • The Market Size is Growing at a CAGR of 11.80% from 2023 to 2033
  • The South Korea Air Ambulance Services Market Size is Expected to Hold a Significant Share by 2033

 

South Korea Air Ambulance Services Market

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The South Korea Air Ambulance Services Market Size is Expected to Hold a Significant Share by 2033, at a CAGR of 11.80% during the forecast period 2023 to 2033.

 

Market Overview

The evacuation and transportation services provided to patients in an emergency at home, at the scene of an accident, or in a hospital are referred to as air ambulance service. Ambulances are outfitted with critical medical equipment, such as emergency equipment, to provide emergency care until the patient arrives at the nearest medical center or hospital. Furthermore, the ambulance had medical professionals on board who were trained to treat patients in an emergency while on their way to the hospital. Air ambulances are fixed-wing or rotor-wing airplanes or helicopters outfitted with a critical care unit and medical supplies to handle medical emergencies, patient transfers, and life-saving rescue operations in areas where ground vehicles are unable to travel. The majority of the equipment in the Hospitals consists of ICU respirators, ECG monitors, defibrillators, external pacemakers, invasive (intra-arterial) blood pressure (NIBP), capnometers, transport monitors, syringe pumps, blood glucose analyzers, suction units, ultrasound systems, non-invasive cardiac support pumps, fiber optic intubation systems with monitors, vacuum mattresses, cervical spine immobilization collars, intubation sets, and vacuum. Several factors contribute to the industry's growth and development in South Korea. Demand for air ambulance services in South Korea has increased as a result of increased emphasis on emergency medical services and advancements in aviation technology.

 

Report Coverage

This research report categorizes the market for South Korea air ambulance services market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea air ambulance services market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea air ambulance services market.

 

South Korea Air Ambulance Services Market Report Coverage

Report CoverageDetails
Base Year:2023
Forecast Period:2023-2033
Forecast Period 2023-2033 CAGR:11.80%
Historical Data for:2019-2022
No. of Pages:200
Tables, Charts & Figures:110
Segments covered:By Type, By Application
Companies Covered: IAS Medical, Babcock Scandinavian AirAmbulance Ab, Rega – Swiss Air-Rescue and Other Key Vendors.
Pitfalls & Challenges:COVID-19 Empact,Challenges, Future, Growth, & Analysis

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Driving Factors

The growing demand for quick and efficient emergency medical services drives the South Korean air ambulance industry forward. Air ambulances provide patients in critical situations with rapid transportation and advanced medical care, ensuring prompt treatment and reducing response time in emergencies. The introduction of specialist air ambulance services in South Korea is the result of increased awareness of the importance of emergency medical services and the need for quick access to expert medical treatment. Korea air ambulance (KAA), for instance, is a dedicated air medical transportation company that provides emergency medical evacuation and inter-hospital transfers via helicopters outfitted with cutting-edge medical equipment and highly trained medical personnel.

 

Restraining Factors

In many areas, insurance coverage for air ambulance services is limited or non-existent. People bear a significant financial burden as a result of this lack of coverage. There are also expenses for adhering to aviation regulations and maintaining the necessary medical equipment and personnel standards. Due to the high operating costs, the number of air ambulance providers may be limited, making it difficult for them to provide affordable services. This makes it difficult for new players to enter the market and slows the overall growth of the air ambulance services market.

 

Market Segment

  • In 2023, the rotary wing arthritis segment accounted for the largest revenue share over the forecast period.

Based on the type, the South Korea air ambulance services market is segmented into the rotary wing and fixed wing. Among these, the rotary wing segment has the largest revenue share over the forecast period. The majority of these aircraft are helicopters with rotary wings; they are typically used for short, urgent distances in medical transport. Helicopters are frequently used in emergency response services in South Korea. When a ground ambulance is having difficulty getting to the patient, their ability to land almost anywhere comes in handy. Rotary-winged aircraft have a disadvantage when traveling long distances due to their limited fuel capacity.

 

  • The hospital-based segment is witnessing significant CAGR growth over the forecast period.

 

Based on application, the South Korea air ambulance services market is segmented into hospital-based and community-based. Among these, the hospital-based segment is witnessing significant CAGR growth over the forecast period. Air ambulances used by healthcare organizations to transport patients, attend to emergency outside patients, and carry out organ donation missions are examples of hospital-based services. They can be government-funded or private-hospital-funded treatments, with transportation costs reimbursed in addition to treatment costs. Over the last decade, hospital-based services have grown in popularity. Nonetheless, they have recently discovered that contracting a private air ambulance operator is far more cost-effective than investing in owning and maintaining aircraft.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea air ambulance services market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • IAS Medical
  • Babcock Scandinavian AirAmbulance Ab
  • Rega – Swiss Air-Rescue
  • Others

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting and Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Recent Development

  • In March 2023, IAS Medical introduced a new telehealth platform that allows users to video chat with a healthcare physician.

 

  • In March 2023, Rega announced the addition of two additional helicopters to its fleet. The new helicopters, Airbus H145s, will replace two older helicopters.

 

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the South Korea Air Ambulance Services Market based on the below-mentioned segments:

 

South Korea Air Ambulance Services Market, By Type

  • Rotary Wing
  • Fixed Wing

 

South Korea Air Ambulance Services Market, By Application

  • Hospital Based
  • Community-Based

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