LOS ANGELES, March 01, 2021 (GLOBE NEWSWIRE) – The Global Medical Drones Market it is expected to grow at a CAGR of approximately 24.9% in the projected period 2020 to 2027 and reach around US $ 643.3 Mn by 2027.
Rising advances in drone technology and high government spending on the healthcare sector are the key factors expected to drive the growth of the global medical drones market.
North America is expected to account for a large revenue segment in the global medical drones market due to the government’s increased focus on enabling medical services. The Government of developed countries aims to strengthen the health care service. They are high cost in developing smart healthcare systems that help deliver a flawless medical service.
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Healthcare players aim to adopt advanced tools to deliver better convenience to customers. With the help of drones they are able to cover a wider area and provide customer care on demand. Government regulation related to product handling and drug delivery is intensive Service providers aim to enhance the distribution channel while meeting essential government norms. The Government is changing the rules around product delivery. In 2020, the Federal Aviation Administration, which regulates flights over U.S. territory, allowed Zipline to deliver medical supplies beyond a line of sight over civilian airspace.
Supportive government regulations and increased investment lead to the introduction of trial programs by the companies that are expected to further contribute to the industry. In 2020, Zipline is a medical product delivery company in partnership with Walmart. The partnership aims to pilot a program for the on-demand delivery of health and wellbeing products. Zipline’s launch and release system allows on-demand delivery in less than an hour, and working from a Walmart store, it can serve a 50-mile radius. Key players are expected to increase the industry’s presence through strategic partnership and through the introduction of new products that will contribute to the growth of the regional market. In 2016, medical product delivery company Zipline launched their first national drone delivery system in the world to deliver blood to patients in remote areas of Rwanda. Supportive government regulations
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The Asia Pacific market is expected to see faster growth in the target market due to high government spending on the development of existing healthcare infrastructure. The Government of developing countries is spending a lot of development on the existing health care infrastructure. Emerging economies are increasingly influenced by governments by enforcing various rules and regulations to deliver better patient care. In 2019, the Maharashtra government partnered with Zipline for the first and only drone delivery service nationally.
The partnership focuses on deploying a logistics network of autonomous delivery drones to help transform emergency medicine and critical care. The e-commerce sector is thriving in the sector, increasingly using the online platform for medical orders and players aiming to enhance the customer experience by using drone delivery. Medikabazaar, a medicine provider in partnership with Zipline in 2020 with a focus on cutting down on drug delivery time to 30 minutes and launching a commercial operation of the service next year. This is expected to impact the growth of the regional medical drone market.
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Growing pandemic impact across the globe and increased government focus on improving healthcare service delivery are key factors expected to drive the growth of the global medical drones market. In addition, rapid technological advances in electronic devices and widespread applicability of drones in the healthcare sector are the expected factors that will support the growth of medical drones market. Factors such as the high cost of drones and technical wisdom are expected to hamper the growth of the global medical drone market. In addition, the high cost associated with manufacturing due to high complexity is expected to challenge the growth of the target market.
However, increasing investment by key players for product development and an approach to advanced analytics to improve delivery are factors that are expected to create new opportunities for players operating in the drone market. medical over the expected period. In addition, increased partnership and agreement between regional and international players is expected to support the revenue activity of the target market. Players operating in the global medical drones market are DHL, SZ DJI Technology Co., Ltd, Embention, Flirtey, Matternet, Vayu, and Zipline. The market is highly competitive due to the large number of players operating at a global level.
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