Newark, NJ, Oct. 06, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, 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 medical drone industry can be traced back to the late 1800s when drones were primarily used in military operations. The first drone was developed at the Royal Airforce base in Farnborough, England. These drones were used for intelligence gathering, anti-submarine warfare, target practice, surveillance and reconnaissance. Only recently, the application of drones in the healthcare sector was found. Medical drones are currently being used in transporting medical items like blood, vaccines, medicine etc. to remote areas. For the past few years, governmental regulations have restricted the use of drones; however, that is changing now since many countries are relaxing regulations and accepting drones for healthcare purposes. Medical drones have been developed for the quick delivery of medical supplies in remote or inaccessible locations. They can be programmed to fly in a specific route or be operated manually. Supply packages can even be dropped without having to land the drone. Some of the factors that are boosting market growth are increasing adoption of medical drones, increasing number of favorable government initiatives for drones and technological advancements.
With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world's economy and has negatively impacted all kinds of markets, including the medical drones market. With less disposable income and broken supply chains, the market's growth is expected to slow down.
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Key players operating in the global medical drones market include 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. To gain a significant market share in the global medical drones market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. DJI and HiRO TeleMedicine Systems, LLC, are some of the biggest manufacturers and suppliers of medical drones in the global market.
- For instance, in 2018, the German courier, express, and parcel mail service company DHL completed the trials of a medicine delivery service using drones on an island in Lake Victoria. After that, the government of Tanzania and DHL partnered up to launch a medical drone delivery program in the country.
Vaccination program dominated the market and held the largest market share of 27.1% in the year 2019
The application segment comprises of drugs/pharmaceutical transfer, vaccination program, blood transfer, and others. Vaccination program dominated the market and held the largest market share of 27.1% in the year 2019. The large share of this segment can be attributed to various benefits offered by medical drones, such as delivering vaccines & medicines to remote locations in less time. In addition, multiple associations like UNICEF are providing funding for medical drones in order to make medicines & vaccines available in remote areas and during emergency situations, thereby fuelling segment growth.
Blood banks dominated the market and was valued at USD 36.9 million in the year 2019
Based on end-use, the global market has been divided into 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.
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Regional Segment Analysis of the Medical Drones Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global medical drones market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. 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 is 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. On the other hand, 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 improving healthcare infrastructure and rising awareness about the benefits of medical drones.
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About the report:
The global medical drones market is analyzed on the basis of value (USD Million), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an 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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