Medical drones market to record exponential growth
Technological advancements and growing applications of drones in healthcare sector will provide stimulus to medical drones market. Healthcare organisations are developing drones with diagnostic imaging capabilities that will be capable of assessing health conditions of patients located in remote areas with the deployment of telemedicine technology.
Drones cater to urgent needs of patients with the delivery of required medicines, vaccines, antivenin and blood products in remote places. Convenience offered by technologically advanced drones will lead to their widespread adoption in medical sector and augment medical drones market growth over the forecast period.
Drones have been used in the surveillance of disaster sites, areas affected by biological or chemical hazards, as well as tracking disease spread. They can also be used to gather information about the number of patients in need of care in high-risk situations.
Drones have also been used to detect the presence of health hazards, such as heavy metals, aerosols and radiation. As per a study, drones equipped with high-resolution photogrammetry software were used to accurately access and predict cancer risk from high level copper concentrations in agricultural areas.
Many notable industry players operational in medical drones market are implementing several strategies such as new product launches, partnerships and distributional channel expansion in new locations that will help them to capture higher revenue share in medical drones market.
For instance, Zipline, an American medical product delivery company operates small drone aircrafts for delivery of medical products, with a focus on providing services in Africa. The company has become an much on-demand medical drone network service provider. Patients in many Swiss hospitals can now receive results on the day a sample is taken, through Zipline’s effort. Zipline is expanding into Ghana along with expanding its presence this year into North Carolina, to help many out-of-the-way rural medical facilities. The company has plans to serve 700 million people in the next 3-4 years.
Research and development in the medical drone industry is also expected to augment market growth scope. For instance, as many emergency vehicles are delayed from arriving on the scene on time, researchers are extensively testing drones to deliver medical equipment.
Development of drone ambulance is also gaining traction. A drone ambulance has been tested by Peel Regional Paramedics in Ontario to deliver medical supplies. Under the project, both an ambulance and a drone were dispatched at the same time, and every time the drone arrived at the scene first.
These test pilot drones fly at a speed of 80km/h and avoid all traffic that an ambulance would otherwise face. The drones arrive on the scene minutes before paramedics can and deliver a defibrillator to a bystander in case of a cardiac arrest case. These machines are easy to use and could be used before the paramedics arrive in an ambulance. The few extra minutes saved can make all the difference in saving lives when it comes to emergencies. Renfrew Ontario Paramedics are the first service in Canada to get approval from Transport Canada to use drones in medical emergencies.
Medical drones market size from pharmaceutical/drug transfer applications is estimated to witness 25% CAGR through 2025. This significant growth is attributed to capabilities of drones to deliver medications in remote locations in lesser time. These drones help in delivering drugs during severe circumstances such as medical emergencies or natural disasters.
According to a report by UK-based innovation foundation Nesta, the possible rapid transportation of light medical deliveries between hospitals in London and increased speed and reliability achieved due to drone deliveries could cut costs and improve patient care in the UK.
Extensive research is being conducted on delivering medicines or blood in remote areas of Wales. Moreover, improved regulatory scenario for medical drones will prove beneficial for medical drones industry growth.
Central role of drones during emergency cases will positively augment medical drones market size. With advancement in drone technology, it can be predicted that medical delivery through drones will be improved creating immense scope for the future expansion of medical drones industry. Global Market Insights estimates medical drones market size to surpass $399m by 2025.
You can view the report here.