NEWARK, NE / ACCESSWIRE / August 10, 2022 / The global medical drones market is projected to reach a valuation of US$3.06 Bn in 2032, with sales growing at an astonishing CAGR of 24.3% CAGR over the forecast period of 2022 to 2032. The market is expected to reach an estimated US$ 280.6 Mn in 2022. Medical drones ensure immediate delivery of medical supplies. Along with usage by platforms like Google and Amazon, the military of various countries also makes use of these drones. These factors are expected to foster growth for the medical drones market.
The global medical drones market is growing and expanding primarily due to low cost of equipment, as well as advancing research and development investment by government bodies. In addition to this, growing penetration of medical drones in emergency or catastrophic areas is augmenting the market growth of medical drones, and contributing to rising sales value of medical drones.
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Nevertheless, product approval regulation may hinder the commercialization of medical drones as they are not allowed to fly freely or without permission. Moreover, medical drones create certain risks, including potential hazards, and operation issues. These are a few obstacles that might impede the growth of the global medical drones market.
"Increasing usage of medical drones by platforms like Google and Amazon as well as the military coupled with low equipment cost will likely supplement the market growth over the forecast period," says an FMI analyst.
Key Takeaways:
- Medical drones market to grow at 24.3% CAGR over the forecast period.
- Low equipment cost and usage by multiple sectors to boost market possibilities.
- Hazard risks and operation issues may hamper market growth.
- North America will presumably hold the largest market share over the forecast period.
- Western Europe is expected to register second largest market growth during the forecast period.
- Asia Pacific and Japan market is likely to observe a higher growth rate.
- Demand for medical drones in Eastern Europe, Latin America, Middle East and Africa is expected to remain steady.
- Product innovations and multiple pricing options are trending in the market.
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Competitive Landscape
Zipline Inc., Flirtey, Matternet and others are some of the manufacturers of medical drones profiled in the full version of the report.
Key players in the global medical drone market are employing strategic tactics like mergers and collaborations as well as product development and innovation. Since the speed, height options and cost effectiveness of the product fuel the market sales, many businesses are focusing on expanding these features.
More Insights into the Medical Drones Market Report
In its latest report, FMI offers an unbiased analysis of the global medical drones market, providing historical data from 2015 to 2020 and forecast statistics for the period 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented based on application, end-user, and region.
According to the latest FMI report, based on region, the medical drone market in North America is predicted to account for the largest market share, quickly followed by Western Europe. This growth is attributed to the increasing research and development funding from the government and private bodies, which also fuel the sales of medical drones. Furthermore, the existence of formal rules and regulations as applied by the federal government and the presence of a highly sophisticated environment are also promoting the regional growth of the medical drones market.
In the Asia Pacific and Japan region, the medical drone market is expected to grow at a higher rate because of the improving healthcare facilities and growing awareness about the benefits of medical drones in a disastrous situation. This leads to the expansion of the regional medical drone market size.
Yet, the market for medical drones in regions such as Latin America, Eastern Europe, and Middle East and Africa is likely to grow at a rate over the forecast period. The presence of highly fragmented distributors and scarcity of skilled professionals is responsible for a comparatively slower regional growth.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. Value Chain Analysis
3.5.1. Profit Margin Analysis
3.5.2. Service Providers
3.6. PESTLE and Porter's Analysis
3.7. Regulatory Landscape
3.7.1. By Key Regions
3.7.2. By Key Countries
3.8. Regional Parent Market Outlook
4. Global Medical Drones Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) Projections, 2022-2032
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