Medical Drones Market Size Worth $947.6 Million By 2027 | CAGR: 31.6%: Polaris Market Research

NEW YORK, Oct. 28, 2020 /PRNewswire/ -- The global medical Drones market size is expected to reach USD 947.6 million by 2027 according to a new study conducted by Polaris Market Research the market is anticipated to register a CAGR of 31.6% from 2020 to 2027. The rapid development of highly advanced technology fostering increased adoption of medical drones in military bases and hospitals favoring the market growth. In addition to this, continuous research work in this field for developing new products also fueling the growth of the market. The impressive capability of medical drones to fly over the completely closed zone without any crew member is one of the key factors fostering the demand for the market. Additionally, drones have the exclusive feature to be reliable medical delivery platforms for pharmaceuticals, patient transport, vaccines, and medical equipment.

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Key Takeaways from the report:

• By application, the blood transfer segment is likely to witness lucrative growth during the forecast period on the account of its urgent requirement during all major surgeries. The increasing need for rapid delivery of blood will boost the adoption of medical drones.
• By end-use, the blood bank segment holds a major share of the global market owing to the huge demand for blood banks in underdeveloped countries due to unfavorable road transportation facilities. The rapid increase in the usage of medical drones in emergency medical services anticipated to drive segmental growth.
• Based on type, the hybrid drones segment is the leading shareholder owing to its wide array of solutions. Increasing application of medical drones across the healthcare chain likely to impact industry growth soon.
• Europe region is dominating the global market. The significant growth is attributing to positive initiatives taken by leading market players. Increasing usage of medical drones for delivering medications is anticipated to foster the market in this region.

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.

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Competitive Insight

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.

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Polaris Market Research has segmented the medical drones market report on the basis of drone type, application, end-use, and region

Medical Drones by Drone Type Outlook (Revenue – USD Million, 2016 – 2027)

• Fixed Wing
• Rotor Drone
• Hybrid Drones

Medical Drones by Application Outlook (Revenue – USD Million, 2016 – 2027)

• Blood transfer
• Drugs/Pharmaceutical Transfer
• Vaccination Programs

Medical Drones by End-Use Outlook (Revenue – USD Million, 2016 – 2027)

• Emergency Medical Services
• Government Organizations
• Blood Banks

Medical Drones by Regional Outlook (Revenue – USD Million, 2016 – 2027)

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Austria)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• MEA (Saudi Arabia, UAE, Israel, South Africa)

List of Key Players of Medical Drones Market

• Zipline
• Vayu
• Matternet
• Flirtey
• Embention
• DJI
• DHL

Target Audience:

• Supply-side: Drone manufacturers, Healthcare Service Suppliers
• Demand Side: Emergency Medical Services, Government Organizations, Blood Banks
• Regulatory Side: Directorate General of Civil Aviation (DGCA), Civil Aviation Authority (CAA)
• Associations and Industry Bodies: Federation of Indian Chambers of Commerce & Industry (FICCI), National Center for Biotechnology Information (NCBI)

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SOURCE Polaris Market Research