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/EIN News/ -- Pune, India, Sept. 02, 2021 (GLOBE NEWSWIRE) -- The global medical drone market size is expected to gain momentum by reaching USD 1,410.9 million by 2028 from USD 254.7 million in 2021 while exhibiting an impressive CAGR of 27.70% between 2021 to 2028. In its report titled, “Medical Drone Market, 2021-2028,” Fortune Business Insights™ mentions that the market stood at USD 194.7 million in 2020.
The technological advancement and ongoing competition between major players to deliver the best product are expected to drive the market in upcoming years. Thus, major players such as Volocopter, Zipline, Volansi, Flirtey, Matternet are focused on developing quality drones to ensure their global market position and high demand for medical drones amid the ongoing COVID-19 pandemic.
List of Key Players Profiled in Medical Drone Industry Report
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COVID-19 Impact
Amid the COVID-19 pandemic, demand for drones increased. Many deliveries for medical purposes and laboratory samples were done using drone technology. According to a report by various resources, around eighteen countries worldwide were dependent on unmanned technology for logistical purposes. For instance, countries in Sub-Saharan Africa, such as Ghana, Rwanda, and Malawi, are some of the countries which were dependent on drone systems for the delivery of medical supplies, pathological and blood samples, and commodities since 2016 and in pandemic times, they are using it in remote places.
Therefore, advantages that this technology facilitates in the COVID-19 context are on-demand just-in-time delivery, minimal physical contact, last-mile delivery to remote locations with an extended logistical network, and low viral or pathological transmission risk. Thus various such applications in this current situation are expected to fuel the market growth.
Market Segmentation:
By type, the market is segmented into fixed-wing, rotary-wing, and hybrid. Technology is divided into fully autonomous, semi-autonomous, and remotely operated. By the package size, it is trifurcated into <2 KG, 2-5 KG, and 5 KG <. On the basis of its service, it is divided into hospital-based, independent, and government. Based on its logistical application, it is divided into emergency blood logistics, medicinal drugs logistics, medical equipment logistics, surgical equipment logistics, vaccine logistics, emergency organ logistics, and emergency ambulatory support. By End-user, it is segmented into emergency medical services, blood banks, hospitals, and others.
Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, and the Middle East & Africa.
What does the Report Provide?
The market report for medical drone provides a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to contribute to the growth of this market.
Driving Factor
High Demand for Drones in Healthcare Applications to Propel Market Growth
The increasing demand for monitoring and surveillance of public areas and the advent of new logistical alternatives than the conventional supply chain modes is propelling governments worldwide to invest in medical drone technology. Moreover, in this pandemic situation, human contact has been suspected to be a vehicle of viral transmission. Thus drone technology is a clear winner in this situation. Thus, there has emerged an urgent need for contactless and efficient technology. For instance, in October 2019, the UPS Flight Forward Inc. has received U.S. government approval with the Federal Aviation Administration's and standard certification to exercise drone airline operations. In response, the company launched its first drone delivery flight at WakeMed Hospital in Raleigh, NC, by using a quadcopter Matternet M2. These factors are driving the medical drone market growth.
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Regional Insights
North America to Dominate Backed by Increasing Number of Registered Drones
Competitive Landscape
Key Players to Focus on Partnerships to Strengthen Their Market Positions
This market is consolidated by major companies striving to maintain their position by focusing on new launches, partnerships, and agreements. For instance, in February 2021, the Government of Kaduna State, in Nigeria, signed a medical delivery agreement with Zipline for airdropped COVID-19 Vaccine shipment as it would have reduced the dependency of the state to invest in the cold chain storage. Furthermore, this agreement is expected to pave the way for enhanced services such as on-demand blood products, medications, and other vaccines.
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Detailed Table of Content:
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Key Industry Development
May 2021 – Draganfly Inc., a Canadian UAV hardware and software manufacturer partnered with Coldchain Delivery Systems, a vaccine and medical SCM (supply chain management) company to the US Government. The partnership is expected to start vaccination for COVID-19 in rural and remote regions of Texas using drone delivery through a five-phase rollout.
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