Medical drone delivery market value forecast to reach close to US1 billion by 2027 says Polaris report
The global medical drones market is expected to reach USD 947.6 million by 2027 according to a new study by Polaris Market Research. The report Medical Drones Market Share, Size, Trends, Industry Analysis Report, Drone Type (Fixed Wing, Rotor Drone and Hybrid Drones); By Application (Blood transfer, Drugs/Pharmaceutical Transfer, Vaccination Programs), End-Use (Emergency Medical Services, Government Organizations, and Blood Banks), By Regions; Segment Forecast, 2020–2027 gives a detailed insight into current market dynamics and provides analysis on future market growth.
According to a Polaris press release, the global medical drones market was valued at USD110.9 million in 2019 and is expected to grow at a CAGR of 31.6% during the forecast period. The prominent factors responsible for market growth are key government initiatives in providing medical care to the distant areas, rising fear of virus infection due to COVID, and as tool to cut down un-necessary logistics costs.
Moreover, substantial investments in development of advanced medical drones, key technological advancements and growing public acceptance has also fuelled the market growth. There are several major benefits that drive their deployment across a variety of end-uses such as in military, in floods or drought affected areas and pandemic affected areas where it is extremely harmful for humans to deliver medical supplies. Moreover, the rising applications of drones in the healthcare sector is also expected to prove a major driving factor to boost market growth.
Market participants such as Zipline, DJI, DHL, TUDelft, Flirtey, Embention, Matternet, Vayu, and EHang are some of the key players operating in the global market. Zipline drones, the frontrunner in the market, have cumulatively flown more than 1 million kilometres in Rwanda with more than 13 thousand deliveries. In the outskirts of Kigali, drones carried 35% of blood samples to be transfused. The Ghana the company is also started delivering COVID-19 testing kits.
Players in the market have primarily adopted partnership strategy to strengthen their position in the global market. For instance, in June 2020, TechEagle has partnered with Zomato to boost the delivery of medical supplies via drones all across the regions in India that are facing floods and due to the ongoing COVID-19 pandemic situation.
The UK based research firm Nesta in its report titled “Flying High” in collaboration with NHS discussed the possibilities of rapid transportation of medical necessities in between the UK hospitals based in London. This move could bring faster delivery, reliable cost cutting, and improved timely patient care, even to the accident areas. It is being estimated that the use of medical drones could result in saving USD 21 billion in the annual cost to the country’s economy.
In the report, the market is primarily segmented on the basis of Drone Type, By Application, By End-Use and geographic region.
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