Hospitals Stretchers Market In-Depth Analysis And Future Growth Report 2028

Hospital Stretchers Industry Overview

The global hospital stretchers market size was valued at USD 2,319.0 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.7% from 2021 to 2028.

The increasing prevalence of chronic disorders, growing geriatric population, rising hospitalization, and technological advancements are major driving factors for the growth of this market. Moreover, a rise in surgical and medical procedures performed is also projected to drive the product demand over the forecast period. The increasing incidence of chronic diseases, such as diabetes, cardiovascular disorders, cancer, respiratory disease, and other autoimmune diseases, across the globe, is a key factor driving the market growth.

Factors, such as the adoption of unhealthy & sedentary lifestyles, rising cases of obesity, and increased alcohol consumption and smoking, contribute to the prevalence of chronic diseases. Heart disease is one of the foremost causes of death worldwide. For instance, according to the WHO, every year, approximately 17.9 million people die owing to CVDs. Also, as per the CDC, every year, 805,000 Americans have a heart attack and about 655,000 Americans die from heart disease.

Gather more insights about the market drivers, restrains and growth of the Global Hospital Stretchers Market

U.S. hospital stretchers market size, by product type, 2018 - 2028 (USD Million)

Furthermore, the rising prevalence of cancer is further driving the demand for hospital stretchers. For instance, according to the International Agency for Research on Cancer) (IARC) estimates (published GLOBOCAN 2020), the cancer burden has increased to 19.3 million cases and 10 million cancer deaths in 2020. Thus, an upsurge in chronic diseases is considered to be the significant factor driving the market growth.

The high geriatric population, which has a lower immune level and is more susceptible to chronic illnesses, will drive the market in the U.S. According to the WHO, by 2050, the global population aged 60 years and above is estimated to total 2 billion. Moreover, 80% of all elderly populace will live in low – middle-income nations by 2050. In addition, in 2020, globally, around 727 million people were aged above 65 years and the World Bank has estimated that this number will double by 2050.

As per the CDC, it has been observed that people aged 65 years and above are at a higher risk of developing heart disease, Chronic Obstructive Pulmonary Disease (COPD), diabetes, cancer, neurological disorders, and other chronic conditions. Patients suffering from such diseases necessitate emergency as well as non-emergency hospital services. Hence, the increasing geriatric population is anticipated to be one of the major drivers for market growth.

Furthermore, a rise in the number of cases of road accidents and fatalities might necessitate emergency medical assistance and medical services. Annually, nearly 1.35 million people die in traffic accidents, as per the WHO (2021). This is more common among those under the age of 29 years, and it is prevalent in low- and middle-income nations. 93% of the world’s road fatalities occur in low- & middle-income countries, and have about 60% of global vehicles. Moreover, according to the Association for Safe International Road Travel (ASIRT), around 1.35 million people die in road crashes each year, and 20-50 million get injured or disabled.

Road accident victims necessitate instant medical attention and ambulance services to transport casualties to hospitals. Also, these injured/traumatized patients are often handled in a stretcher that comprises accessories, such as head/spine immobilizer, lifting bridles, toe clamp, wrist rest, lifting harness, shoulder harness, footboard, and even floatation accessories. Thus, the increasing incidence of road accidents is anticipated to drive the growth of the market over the estimated study period.

The COVID-19 pandemic is predicted to promote market growth both directly and indirectly. All elective surgeries were postponed because of the pandemic, with care for COVID-19 patients being prioritized. As the number of COVID-19 patients is increasing rapidly, it is necessitating the rapid transport of patients to hospitals. According to the estimates, as of 4th August 2021, there were 200,304,173 coronavirus cases across the globe. Thus, a constant rise in COVID-19 cases will boost the product demand.

Moreover, stretchers provide a dependable yet cost-effective alternative in several countries where patient bedding is in low supply owing to the severe impacts of the COVID-19 pandemic. Stretchers might prove to be a temporary replacement for hospital beds by adding attachments like operating table extensions, ventilator, and other device support extensions, patient harnesses, remote patient monitoring accessories, and others. This factor is expected to support market growth.

Browse through Grand View Research’s Medical Devices Industry Research Reports.

Market Share Insights

  • February 2021: Ford announced plans to re-establish its presence in the U.K. ambulance market, with an inventive novel Transit ambulance, under project Siren. It is intended to enhance patient treatment and ease of use for paramedics.
  • October 2020: Strykerlaunched a wireless hospital bed, ProCuity. The smart bed is designed to reduce in-hospital patient falls, increase nurse workflow efficiencies and safety, and help hospitals reduce costs. 

Key Companies profiled:

Some of the prominent players in the global hospital stretchers market include:

  • Hill-Rom Holdings
  • Stryker
  • Mac Medical
  • TransMotion Medical Inc.
  • Fu Shun Hsing Technology
  • Narang Medical Limited
  • Advanced Instrumentations

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