Medical Drones Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2021 - 2031
The medical drones market is anticipated to exhibit stellar growth of US$ 1,410.9 Mn and grow at a CAGR of 27.70% in the foreseeable years from 2021 to 2031. The ongoing COVID-19 pandemic is estimated to increase the rate of adoption of drone technology for the healthcare applications. Some of the key applications include surveillance and monitoring of public areas. Furthermore, end users are investing at an increased rate in drone technology which is predicted to stimulate revenue generation opportunities in the medical drones market in the years to come.
The advent of novel logistical alternatives to traditional supply chain modes is projected to fuel growth impetuses in the market. Amidst the pandemic, the human contact was suspected to serve as the vehicle for the transmission of coronavirus. In this situation, technology has served as the winner, and governments and industry experts have taken them as opportunities to generate growth opportunities in the medical drones market.
Increasing incidences related to experimentation, testing, as well as certification approvals related to drone BVLOS flight operations are likely to propel growth opportunities in the medical drones market during the forecast period.
Drone technology is integrated with AI (artificial intelligence) for the purpose of aerial mapping, surveillance, and mapping applications. In addition to this, the technology is also used for infected patient tracking and some other medical applications. Thus, the growing use of the market technology is projected to bolster sales opportunities in the drone industry.
On the flip side, the lack of skilled pilots has been expected to restrict expansion opportunities in the medical drones market. Along with this, lack of the solutions for unified air traffic management is also likely to limit growth avenues in the market.
The medical drones market is fragmented in nature and this nature of the industry makes it more competitive. In addition to this, the presence of a lot of organizations has also been predicted to serve as the vital reason to fuel fierce competition among industry players. So, the enterprises around the world use different organic as well as inorganic strategies in order to create a leading position in the global market. Joint ventures, acquisitions, agreements, collaborations, partnerships, and mergers have been some key strategies that are commonly adopted by industry players. There are various enterprises across the globe that are investing at a significant rate for numerous R & D projects. Thus, these factors are projected to serve industry players for the development of some next-generation products in the upcoming years.
The key players serving in the medical drones market include:
The medical drones market has been segmented primarily into Europe, the Middle East, North America, Asia Pacific, and the Rest of the World on the basis of its geographical locations. Among these areas, North America has been estimated to serve as the largest as well as the dominant region around the world. The growth in the regional market has been attributed to the increased adoption of the drones for the medical applications. In addition to this, the regional presence of some prominent manufacturers across the US, for example, Zipline, Amazon Prime Air, Flirtey, UPS Flight Forward, and some others have also been predicted to propel growth opportunities in the market in the forthcoming years.
Europe has been expected to work as the second-largest region in the global market due to accommodative regulations. Further, increased investment across unmanned technology by governments and OEMs has been projected to contribute to growth avenues in the market in the forthcoming years.
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