Medical Drones Market Size, Insights And Overview 2024-2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Medical Drones Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The medical drones market size has grown rapidly in recent years. It will grow from $1.31 billion in 2023 to $1.55 billion in 2024 at a compound annual growth rate (CAGR) of 17.7%. The growth in the historic period can be attributed to emergency medical response, inaccessibility of remote areas, reducing transport time, global health crises, regulatory support for drone operations.

The medical drones market size is expected to see rapid growth in the next few years. It will grow to $3 billion in 2028 at a compound annual growth rate (CAGR) of 18.0%. The growth in the forecast period can be attributed to integration of artificial intelligence, expansion of telemedicine services, enhanced payload capabilities, focus on last-mile delivery, evolving regulatory environment. Major trends in the forecast period include collaborations and partnerships, improving drone technology, development of automated drone stations, temperature-controlled transport for pharmaceuticals, humanitarian and disaster response.

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Market Segmentation:
The medical drones market covered in this report is segmented -

1) By Type: Fixed Wing, Rotor Drones, Hybrid Drones
2) By Payload Capacity: Below 2 Kg, 2-4 kg, Above 4 Kg
3) By Application: Emergency Blood Logistics, Medical Drug And Vaccine, Emergency Organ Logistics, Other Applications
4) By End-User: Hospitals, Blood Banks, Government Institutions, Other End-Users

Major Driver - Government Funding Fuels Growth of the Medical Drone Market
The government's funding for medical drones is expected to propel the growth of the medical drone market going forward. Medical drones, also known as medical transport drones, are unmanned aerial vehicles (UAVs) specifically designed and used for medical purposes within the healthcare industry. Government funding for medical drones refers to financial support provided by government agencies or authorities to develop, implement, or expand the use of drones for medical and healthcare purposes. For instance, in November 2022, according to the Department for Business, Energy, and Industrial Strategy, a UK-based government department, the UK government initiated approximately $14.38 million (12 million pound sterlings) in 24 innovative projects to eliminate regulatory hurdles and assist companies in bringing products and services that include medical drones. Furthermore, in July 2022, according to the Department for Business, Energy, and Industrial Strategy, a UK-based government department, the UK government revealed a $324 million (273 million pound sterlings) investment in aircraft innovation, including the creation of drones that can transport medical supplies. Therefore, government funding for medical drones is driving the growth of the medical drone market.

Competitive Landscape:
Major companies operating in the medical drones market report are DHL International GmbH, United Parcel Service Inc., Toyota Tsusho Corporation, Airbus SE, Bell Textron Inc., AeroVironment Inc., Zipline International Inc., Parrot SA, Tata Advanced Systems Limited, Wing Aviation LLC, Avy B.V., Freefly Systems Inc., Vayu Inc., Guangzhou EHang Intelligent Technology Co. Ltd., AT&T Intellectual Property, Ascent Aerosystems Inc., EHang Holdings Ltd., Aquiline Drones Corporation, Draganfly Inc., Wingcopter GmbH, Matternet Inc., Skyfarer Ltd., Inova Drone Inc., Volocopter GmbH, TSAW Drones

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