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Research Nester released a report titled “Medical Drones Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the medical drones market in terms of market segmentation by drone type, application, end use and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
Medical drones market is projected to grow with a high CAGR during the forecast period, i.e., 2020-2029 on account of the increasing application of medical drone in healthcare industry and technological advancements. Moreover, Supportive government regulations and increasing investment is resulting in introduction of trial programs by the companies that is expected to further enhance the business. In 2020, Zipline a medical product delivery company partnered with Walmart.
The partnership is focused on trial run program for on-demand deliveries of health and wellness products. Zipline's launch and release system allows for on-demand delivery in less than an hour, and operating from a Walmart store, can service a 50-mile radius. Major players approach towards enhancing the business presence through strategic partnership and through introduction of new product are factors expected to augment the growth of regional market.
Based on application, the market is segmented into government organizations, emergency medical services and blood banks out of which blood transfer segment is anticipated to witness the largest market share over the analysis period. Drones are used in transferring blood samples between healthcare facilities to accelerate HIV diagnosis in infants. Moreover, drones can cover three hours of distance in around fifteen minutes. As a result, increasing need for quick delivery of blood will increase adoption of drones augmenting the segment growth.
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Furthermore, vaccination program segment was valued more than USD 18 million in 2018 and it is anticipated to witness lucrative growth in near future. The growth can be attributed to advantages offered by medical drones in delivering vaccines to remote areas in less time. Some remote areas such as Cook's Bay (Canada) are only accessible through boat that makes it difficult to deliver necessity vaccines to kids and pregnant women. Moreover, various associations such as UNICEF are funding medical drones in order to make vaccines available during emergency cases and in remote areas, thereby fueling segment growth.
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. North America is the largest revenue contributor to the medical drones market and holding a majority of the market share. The growth of North America medical drones market is mainly due to substantial research funding to the development of medical drones and extensive adoption of medical drones across various healthcare facilities such as hospitals, clinics and ambulatory surgical centers (ASCs). Moreover, the presence of key regulations that favor the deployment of drones in the healthcare sector across both United States and Canada also contributes to the market growth in the region. Furthermore, Europe is also expected to contribute notably to the growth of medical drones in the region mainly due to favorable government initiatives to boost the implementation of medical drones across the medical sector in countries such as Germany, France, United Kingdom, Italy, Belgium, etc.
Increasing application of medical drone in healthcare industry and Technological advancements to drive the Market Growth
Increasing number of applications in healthcare industry, growing number of initiatives for the prevalence of medical drones, increasing incidence of severe bleeding deaths, growing awareness among the people regarding the availability and benefits of medical drones will likely to enhance the growth of the medical drones market in the forecast period of 2020-2029.
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Additionally, the technological advancement is helping the manufactures to design and build such products that can saves lives with convenience in lesser time, is the major reason for the higher adoption rate. This report also provides the existing competitive scenario of some of the key players of the global non-metastatic castration resistant prostate cancer treatment market which includes company profiling of SZ DJI Technology Co., Ltd., Embention, Flirtey, Matternet, Zipline, Alphabet Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Medical drones market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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