Global Medical Drones Market is projected to grow at a CAGR of 24.8% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Medical Drones Market by Application (Drugs/Pharmaceutical Transfer, Vaccination Program, Blood Transfer, Others), End-Use (Blood Banks, Emergency Medical Services, Others), Regions, and Global Forecast 2020-2027.
The global medical drones market is expected to grow from USD 109.08 million in 2019 to USD 641.86 million by 2027, at a CAGR of 24.8% during the forecast period 2020-2027. The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period 2020-2027. This growth is due to factors like rising awareness about the benefits of medical drones and improving healthcare infrastructure. On the other hand, the North America region accounted for the major market share of 42.6% in the year 2019 and is anticipated to grow throughout the projected period. The large share of this segment was attributed to key factors such as the increasing levels of investment from private as well as government bodies for the development of advanced medical drones.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the global medical drones market are DHL, Embention, DJI, Flirtey, Vayu Inc., Airbus S.A.S., HiRO TeleMedicine Systems, LLC, AT&T Intellectual Property., TUDelft, X DEVELOPMENT LLC., and EHang, among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the global medical drones market.
The application segment consists of drugs/pharmaceutical transfer, vaccination program, blood transfer, and others. The blood transfer segment is expected to witness high growth over the forecast period, primarily due to the increasing requirement for the quick delivery of blood in emergency cases. The end-use segment consists of blood banks, emergency medical services, and others. Blood banks dominated the market and was valued at USD 36.9 million in the year 2019. Blood transfer in underdeveloped nations is a huge challenge for medical authorities due to the lack of or unfavorable roads. In such cases, medical drones are able to transfer platelets, blood, and plasma and from blood banks to clinics & hospitals located in remote places. Timely blood transfer helps to avoid complications during emergency cases like organ transplants, childbirth, cerebrovascular diseases, and surgeries. Therefore, blood banks are increasingly adopting medical drones to deliver blood, hence augmenting this segment’s growth.
About the report:
The global medical drones market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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