Medical Drone Market Trends, Industry Share, Growth Drivers,...| MENAFN.COM

Friday, 20 May 2022 05:21 GMT

Medical Drone Market Trends, Industry Share, Growth Drivers, Business Opportunities and Demand Forecast to 2028


(MENAFN- The Express Wire)

Posted on Jan 27 2022 3:39 AM

'Key companies covered in the Medical Drone Market Research Report are Zipline Inc. (San Francisco, United States), Volocopter GmbH (Bruchsal, Germany), Volansi Inc. (San Francisco, United States), Matternet Inc. (Mountain View, United States), Manna Drone Delivery Inc. (Dublin, Ireland), Flytrex Aviation Ltd. (Tel Aviv, Israel), Flirtey Holdings Inc. (Reno, United States), Vayu Inc. (Ypsilanti, United States), Skyports Ltd. (Billericay, United Kingdom), Ebre Drone LLC (Tarragona, Spain), Swoop Aero Pty. Ltd. (Docklands, Australia), Skyfarer Ltd. (Coventry, United Kingdom). '

The global medical drone market size is expected to gain momentum by reaching USD 1,410.9 million by 2028 from USD 254.7 million in 2021 while exhibiting a CAGR of 27.70% between 2021 to 2028. In its report titled“ Medical Drone Market, 2021-2028 ,” Fortune Business Insights™ mentions that it stood at USD 194.7 million in 2020.

In this pandemic situation, demand for drone technology has increased and is expected to remain persistent during the forecast period. However, in the pre-pandemic scenario, the technology was not much prevalent in all the sectors. A report by Geospatial World, and Co-founder of Asterion, suggests that industries and their experts had been dismissive and hesitant about the utility of drone technology in their respective industries. But now, they have found it as an immediate and effective solution for ensuring workforce safety. Thus this has led to the adoption of drone technology. The standardization of drone technology for varying utilities, the growing Beyond Visual Line of Sight (BVLOS) drone flight, and accommodative new regulations worldwide are the factors that are anticipated to propel the growth of the market.

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Competitive Landscape

Key Players to Focus on Partnerships to Strengthen the Market Growth

The market is consolidated by major companies striving to maintain their position by focusing on new launches and partnerships. For instance, in May 2021 , Avy BV, a Dutch UAV manufacturer, partnered with Robotic Skies Inc. It is a global drone maintenance service provider in terms of an in-field fleet support program for Avy's emerging fleet of autonomous long-range life-saving UAVs to maintain the large operational fleet for extreme medical and humanitarian flight operations worldwide.

List of Key Players Profiled in Medical Drone Industry Report

  • Zipline Inc. (San Francisco, United States)
  • Volocopter GmbH (Bruchsal, Germany)
  • Volansi Inc. (San Francisco, United States)
  • Matternet Inc. (Mountain View, United States)
  • Manna Drone Delivery Inc. (Dublin, Ireland)
  • Flytrex Aviation Ltd. (Tel Aviv, Israel)
  • Flirtey Holdings Inc. (Reno, United States)
  • Vayu Inc. (Ypsilanti, United States)
  • Skyports Ltd. (Billericay, United Kingdom)
  • Ebre Drone LLC (Tarragona, Spain)
  • Swoop Aero Pty. Ltd. (Docklands, Australia)
  • Skyfarer Ltd. (Coventry, United Kingdom)

Market Segmentation:

By type, this market is segmented into fixed-wing, rotary-wing, and hybrid. Out of these, the fixed-wing segment earned 52.67% in terms of share in 2020. By technology is divided into fully autonomous, semi-autonomous, and remotely operated. By the package size, it is trifurcated into <2 KG, 2-5 KG, and 5 KG <. On the basis of its service, it is divided into hospital-based, independent, and government. Based on its logistical application, it is divided into emergency blood logistics, medicinal drugs logistics, medical equipment logistics, surgical equipment logistics, vaccine logistics, emergency organ logistics, and emergency ambulatory support. By end-users, it is segmented into emergency medical services, blood banks, hospitals, and others. Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, and the Middle East & Africa.

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What does the Report Provide?

The market report for medical drones provides a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to contribute to the growth of this market.

Driving Factor

Higher Demand for BVLOS to Fuel Market Growth

The growing demand for BVLOS during the pandemic has accelerated the medical drone market growth as these are more cost-effective and efficient and have fewer takeoff and landing phases. Moreover, they are fully automated and can easily access remote or hazardous areas. Therefore, many countries jumped into experimentation and started testing the efficiency of drones. As a result, in 2021, the Federal Aviation Administration (FAA) registered around 900,000 drones which may be deployed for varying applications. Furthermore, in May 2021, the Australian Government invested USD 28 million to kick start the Emerging Aviation Technology Partnerships Program under the National Emerging Aviation Technologies (NEAT) Policy Statement. This policy regulates the medical drones sector.

COVID-19 Impact

Amid the COVID-19 pandemic, demand for drones increased. For instance, a report by the United Nations Children's Fund (UNICEF) mentions that drones are used in aerial disinfectant spraying worldwide to curb the spread of viruses in outdoor places. Many countries such as the U.S., the UAE, China, South Korea, Spain, and others are known to attempt aerial spraying in public places quite frequently. The manufacturers of these drones have claimed that they have the capability to disinfect 3 square kilometer areas. Apart from its use in spraying, these are used in monitoring and surveillance of public places.

Regional Insights

North America to Dominate Backed by Presence of Prominent Key Players

North America is expected to remain at the forefront and hold the highest position in the market for medical drones during the forecast period owing to higher demand for drones in medical applications. Furthermore, the presence of key drone manufacturers in the U.S. such as Zipline, UPS Flight Forward, Amazon Prime Air, Flirtey, and others are also fueling the regional market. The region's market stood at USD 79.88 million in 2020.

Europe is expected to exhibit a significant medical drone market share in upcoming years owing to the accommodative regulations and high investment rate in drone technology by original equipment manufacturers (OEMs) in the region.

Industry Development

  • March 2021 – Toyota Tsusho Corporation, a subsidiary of Toyota Group and Zipline, signed an agreement on a strategic, operational partnership for enhancing the medical supply chain and providing easy accessibility for healthcare in Japan's remote places.

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