Newly-released Hospital Stretchers market analysis report by Future Market Insights shows that global sales of the Hospital Stretchers market in 2021 were held at US$ 2.6 Billion. With 5.7%, the projected market growth from 2022 to 2032 is expected to be significantly higher than the historical growth. The absolute dollar opportunity for the Hospital Stretchers market will be witnessing US$ 2.1 Billion overall growth due to the surge rising of chronic diseases, a growing geriatric population, and rising hospitalization, which are all major driving factors for the market's expansion.
| Attribute | Details |
|---|---|
| Global Hospital Stretchers Market (2022) | US$ 2.8 Billion |
| Global Hospital Stretchers Market (2032) | US$ 4.8 Billion |
| Global Hospital Stretchers Market CAGR (2022 to 2032) | 5.7% |
| USA Hospital Stretchers Market (2022) | US$ 975.5 Million |
| Key Companies Profiled |
|
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As per the Hospital Stretchers market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the market increased at around 4.8% CAGR, wherein, the region North America held a significant share in the global market.
The overall increases in chronic ailments such as diabetes, cardiovascular disease, cancer, respiratory disease, and autoimmune diseases are driving industry growth. A growing number of surgical and medical procedure demands will boost product sales during the forecast.
Apart from this, the WHO (World Health Organization) estimated that the global population of people aged sixty or above would reach 1.4 billion by 2030. The growing elderly population also plays an important role in driving the market. Thus, the Hospital Stretchers market is expected to witness a CAGR of 5.7% over the next ten years.
The prevalence, the sedentary lifestyles, and the prevalence of alcohol and smoking consumption are all linked to the probability of people suffering from chronic diseases. One of the chief causes of death globally is cardiovascular disease. According to the WHO, CVD takes the lives of approximately 17.9 million people every year. According to the Centers for Disease Control and Prevention, 0.8 million Americans have a heart attack per year, and approximately 0.6 million die because of this.
The rising incidence of cancer is leading to the demand for stretchers in hospital settings. The International Agency for Research on Cancer (IARC) projects the growth of the cancer burden will reach 19.3 million cases by 2020, with 10 million deaths. Consequently, the demand for chronic diseases is among the key factors driving growth.
More fatalities and traffic accidents have motivated increased funding for emergency medical services. The WHO estimates that each year, close to 1.35 million traffic-related deaths occur worldwide (2021). By age group, fatalities occur most commonly among people under 29 and are particularly common in low- and middle-income countries.
Countries with relatively low and average amounts of social welfare tend to have the largest number of traffic fatalities, which account for around two-thirds of the worldwide toll. Furthermore, the International Association for Safe Travel estimates that 1.35 million individuals die each year in traffic accidents, with as many as 20 million becoming disabled.
Victims of traffic accidents require emergency medical care and transportation to hospitals. In addition, these injured patients are commonly transported in stretchers which are outfitted with accessories such as a head spine immobilizer, lifting bridles, toe clamp, wrist rest, lifting harness, shoulder harness, footboard, and also flotation devices. As a result, rising traffic accidents are expected to drive market growth over the projected study period.
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The USA dominated the North American Hospital Stretchers market, which is expected to reach USD $ 1.78 billion by 2032. Growing numbers of elderly Americans are a primary driver of the economic climate in this field. According to data from the Census Bureau, the number of Americans aged 65 and up in 2018 is expected to increase from 52 million to nearly 95 million in 2060. Similarly, the share of people aged 65 and up is expected to increase from 16% to 23% over the same period.
Rising healthcare spending and the increased use of advanced healthcare facilities are driving the growth of the medical tourism business. According to CMS data, 4.6% more federal spending was reported by the USA government in 2019 than in the previous year, which grew from US$ 3.8 trillion to US$ 3.9 trillion.
Additional advantages for services and procedures covered by the Part A and Part B Medicare programs in the United States are to encourage market growth. In the Part B section of Medicare, for example, the range of medical services subsidized is 80% of the Medicare-authorized amount for medically necessary emergency ambulance services and non-emergency ambulance services.
The hospital stretchers market in the United Kingdom grew from US$ 110 Million in 2021 to reach a valuation of US$ 236 Million by 2032, growing at a CAGR of US$ 7.5% from 2022 to 2032. The market during the forecast period is expected to witness an absolute dollar opportunity of US$ 120 Million.
The market in Japan is likely to reach a valuation of US$ 152 Million by 2032, growing at a CAGR of 7.4% during the forecast period. The market from 2022 to 2032 is expected to witness an absolute dollar opportunity of US$ 77 Million.
The hospital stretchers market in South Korea is expected to reach US$ 88 Million by 2032, growing at a CAGR of 6.1%. The market from 2022 to 2032 is expected to witness an absolute dollar opportunity of US$ 39 Million.
Hospital Stretchers market revenue is expected to grow at the fastest rate in APAC (Asia Pacific), between 2022 and 2032, with over 7.5% and 7.4% projected growth rates in China and Japan, respectively. Some of the key businesses that manufacture medical devices in several Asian-Pacific locations have announced that they will expedite the distribution of their products to these regions to expand their market share. This will mean a decrease in diversification in global locations, and this shift could present an opportunity for the market.
Public funding for technological advancement, rising investment, improved reimbursement amounts, and increasing medical tourism are anticipated to generate considerable demand for health tourism in the upcoming years. Furthermore, the medical tourism industry growth in Asia Pacific is predicted to be encouraged by a rising population of citizens in older age levels and a growing middle class. According to an evaluation by the United Nations Population Fund, the traditional population in the Asia Pacific region is growing at a record pace, and by the year 2050, over 200 million people in the region will be over 60, upping the total population to roughly 1.3 billion.
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The bariatric segment produced the highest rate of revenue and is anticipated to witness a 5.4% CAGR over the projected timeframe. Larger stretcher frames, large wheels, winch attachments, and pull and push handles are all features of bariatric stretchers that facilitate safe transport.
Patients who are obese are oftentimes carried by stretchers of this kind. Obesity is one of the most critical public health matters that can lead to a range of health complications, such as diabetes, heart disease, and cancer.
Obesity is increasing the need for bariatric stretchers, which leads to hospitalization. According to the World Health Organization, approximately 1.9 billion adults were overweight in 2016, with over 650 million suffering from obesity. Bariatric stretchers can hold weights of up to 700 pounds. Furthermore, powered high-low stretchers for patient transfer and positioning can be beneficial. As a result, the ever-increasing number of obese patients makes an ideal environment for optimal growth.
Motorized hospital stretchers have a market share of over 65% in 2020 and are projected to witness the highest CAGR during the forecast period. This is due to the increased investment of major players in developing state-of-the-art and advanced products. Demand for hydraulic and pneumatic stretchers is increasing in developed regions as new technology is evaluated.
The demand for adjustable stretchers is also expected to grow significantly in the coming years as multi-specialty and super-specialty hospitals demand more innovative and automated hospital stretchers. Stretchers that are motorized and technologically advanced are available. These stretchers are also useful for medical professionals. They have an arm mechanism and a curved backrest that can be adjusted for elevation. The height of an adjustable stretcher can be greater than a fixed-height stretcher.
Product commercialization and partnership tactics are expected to be profitable for the hospital stretchers market in the forthcoming years. Market players are concentrating on various business strategies such as mergers and acquisitions, partnerships, and new product launches to strengthen their market position
The key vendors in the global Hospital Stretchers market are Hill-Rom Holdings, Stryker, Mac Medical, TransMotion Medical Inc., Fu Shun Hsing Technology, Narang Medical Limited, ROYAX, and Advanced Instrumentations.
The recent developments in hospital stretchers markets are:
The global Hospital Stretchers market is worth more than US$ 2.8 Billion at present.
The value of the Hospital Stretchers market is projected to increase at a CAGR of around 5.7% from 2022 to 2032.
The value of the Hospital Stretchers market increased at a CAGR of around 4.8% from 2017 to 2021.
The top 5 countries driving demand for the Hospital Stretchers market are the USA, China, the United Kingdom, Japan, and South Korea.
The key technology that is used and has high demand is Motorized hospital stretchers which will be accounted for 6% CAGR from 2022 to 2032.
The USA market for Hospital Stretchers is projected to expand at a CAGR of around 5.8% from 2022 to 2032.
The major companies are Hill-Rom Holdings, Stryker, Mac Medical, TransMotion Medical Inc., and Fu Shun Hsing Technology.
1. Executive Summary | Hospital Stretchers Market
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Demand
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Million)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
4. Market Background
4.1. Market, by Key Countries
4.2. Market Opportunity Assessment (US$ Million)
4.2.1. Total Available Market
4.2.2. Serviceable Addressable Market
4.2.3. Serviceable Obtainable Market
4.3. Market Scenario Forecast
4.3.1. Demand in optimistic Scenario
4.3.2. Demand in Likely Scenario
4.3.3. Demand in Conservative Scenario
4.4. Investment Feasibility Analysis
4.4.1. Investment in Established Markets
4.4.1.1. In Short Term
4.4.1.2. In Long Term
4.4.2. Investment in Emerging Markets
4.4.2.1. In Short Term
4.4.2.2. In Long Term
4.5. Forecast Factors - Relevance & Impact
4.5.1. Top Companies Historical Growth
4.5.2. Growth in Automation, By Country
4.5.3. Adoption Rate, By Country
4.6. Market Dynamics
4.6.1. Market Driving Factors and Impact Assessment
4.6.2. Prominent Market Challenges and Impact Assessment
4.6.3. Market Opportunities
4.6.4. Prominent Trends in the Global Market & Their Impact Assessment
5. Key Success Factors
5.1. Manufacturers’ Focus on Low Penetration High Growth Markets
5.2. Banking on with Segments High Incremental Opportunity
5.3. Peer Benchmarking
6. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032
6.1. Historical Market Analysis, 2017 to 2021
6.2. Current and Future Market Projections, 2022 to 2032
6.3. Y-o-Y Growth Trend Analysis
7. Global Market Value Analysis 2017 to 2021 and Forecast, 2022 to 2032
7.1. Historical Market Value (US$ Million) Analysis, 2017 to 2021
7.2. Current and Future Market Value (US$ Million) Projections, 2022 to 2032
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Million) Analysis By Product Type, 2017 to 2021
8.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Product Type, 2022 to 2032
8.3.1. Adjustable Height
8.3.2. Fixed Height
8.3.3. Bariatric
8.3.4. Radiographic
8.4. Market Attractiveness Analysis By Product Type
9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Technology
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Million) Analysis By Technology, 2017 to 2021
9.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Technology, 2022 to 2032
9.3.1. Motorized
9.3.2. Non-Motorized
9.4. Market Attractiveness Analysis By Technology
10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Million) Analysis By Application, 2017 to 2021
10.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Application, 2022 to 2032
10.3.1. Ambulatory/Transport
10.3.2. Daycare/Inpatient
10.3.3. Surgery
10.3.4. Emergency/Trauma
10.4. Market Attractiveness Analysis By Application
11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region
11.1. Introduction
11.2. Historical Market Size (US$ Million) Analysis By Region, 2017 to 2021
11.3. Current Market Size (US$ Million) & Analysis and Forecast By Region, 2022 to 2032
11.3.1. North America
11.3.2. Latin America
11.3.3. Europe
11.3.4. Asia Pacific
11.3.5. Middle East and Africa (MEA)
11.4. Market Attractiveness Analysis By Region
12. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
12.1. Introduction
12.2. Pricing Analysis
12.3. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
12.4. Market Size (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
12.4.1. By Country
12.4.1.1. USA
12.4.1.2. Canada
12.4.1.3. Rest of North America
12.4.2. By Product Type
12.4.3. By Application
12.4.4. By Technology
12.5. Market Attractiveness Analysis
12.5.1. By Country
12.5.2. By Product Type
12.5.3. By Application
12.5.4. By Technology
13. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
13.4. Market Size (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
13.4.1. By Country
13.4.1.1. Brazil
13.4.1.2. Mexico
13.4.1.3. Rest of Latin America
13.4.2. By Product Type
13.4.3. By Application
13.4.4. By Technology
13.5. Market Attractiveness Analysis
13.5.1. By Country
13.5.2. By Product Type
13.5.3. By Application
13.5.4. By Technology
14. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
14.4. Market Size (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
14.4.1. By Country
14.4.1.1. Germany
14.4.1.2. France
14.4.1.3. United Kingdom
14.4.1.4. Italy
14.4.1.5. Benelux
14.4.1.6. Nordic Countries
14.4.1.7. Rest of Europe
14.4.2. By Product Type
14.4.3. By Application
14.4.4. By Technology
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Product Type
14.5.3. By Application
14.5.4. By Technology
15. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032
15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
15.4. Market Size (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
15.4.1. By Country
15.4.1.1. China
15.4.1.2. Japan
15.4.1.3. South Korea
15.4.1.4. Rest of Asia Pacific
15.4.2. By Product Type
15.4.3. By Application
15.4.4. By Technology
15.5. Market Attractiveness Analysis
15.5.1. By Country
15.5.2. By Product Type
15.5.3. By Application
15.5.4. By Technology
16. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032
16.1. Introduction
16.2. Pricing Analysis
16.3. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
16.4. Market Size (US$ Million) & Forecast By Market Taxonomy, 2022 to 2032
16.4.1. By Country
16.4.1.1. GCC Countries
16.4.1.2. South Africa
16.4.1.3. Turkey
16.4.1.4. Rest of Middle East and Africa
16.4.2. By Product Type
16.4.3. By Application
16.4.4. By Technology
16.5. Market Attractiveness Analysis
16.5.1. By Country
16.5.2. By Product Type
16.5.3. By Application
16.5.4. By Technology
17. Key Countries Market Analysis 2017 to 2021 and Forecast 2022 to 2032
17.1. Introduction
17.1.1. Market Value Proportion Analysis, By Key Countries
17.1.2. Global Vs. Country Growth Comparison
17.2. USA Market Analysis
17.2.1. Value Proportion Analysis by Market Taxonomy
17.2.2. Value & Analysis and Forecast by Market Taxonomy, 2017 to 2032
17.2.2.1. By Product Type
17.2.2.2. By Application
17.2.2.3. By Technology
17.3. Canada Market Analysis
17.3.1. Value Proportion Analysis by Market Taxonomy
17.3.2. Value & Analysis and Forecast by Market Taxonomy, 2017 to 2032
17.3.2.1. By Product Type
17.3.2.2. By Application
17.3.2.3. By Technology
17.4. Mexico Market Analysis
17.4.1. Value Proportion Analysis by Market Taxonomy
17.4.2. Value & Analysis and Forecast by Market Taxonomy, 2017 to 2032
17.4.2.1. By Product Type
17.4.2.2. By Application
17.4.2.3. By Technology
17.5. Brazil Market Analysis
17.5.1. Value Proportion Analysis by Market Taxonomy
17.5.2. Value & Analysis and Forecast by Market Taxonomy, 2017 to 2032
17.5.2.1. By Product Type
17.5.2.2. By Application
17.5.2.3. By Technology
17.6. Germany Market Analysis
17.6.1. Value Proportion Analysis by Market Taxonomy
17.6.2. Value & Analysis and Forecast by Market Taxonomy, 2017 to 2032
17.6.2.1. By Product Type
17.6.2.2. By Application
17.6.2.3. By Technology
17.7. France Market Analysis
17.7.1. Value Proportion Analysis by Market Taxonomy
17.7.2. Value & Analysis and Forecast by Market Taxonomy, 2017 to 2032
17.7.2.1. By Product Type
17.7.2.2. By Application
17.7.2.3. By Technology
17.8. Italy Market Analysis
17.8.1. Value Proportion Analysis by Market Taxonomy
17.8.2. Value & Analysis and Forecast by Market Taxonomy, 2017 to 2032
17.8.2.1. By Product Type
17.8.2.2. By Application
17.8.2.3. By Technology
17.9. BENELUX Market Analysis
17.9.1. Value Proportion Analysis by Market Taxonomy
17.9.2. Value & Analysis and Forecast by Market Taxonomy, 2017 to 2032
17.9.2.1. By Product Type
17.9.2.2. By Application
17.9.2.3. By Technology
17.10. United Kingdom Market Analysis
17.10.1. Value Proportion Analysis by Market Taxonomy
17.10.2. Value & Analysis and Forecast by Market Taxonomy, 2017 to 2032
17.10.2.1. By Product Type
17.10.2.2. By Application
17.10.2.3. By Technology
17.11. Nordic Countries Market Analysis
17.11.1. Value Proportion Analysis by Market Taxonomy
17.11.2. Value & Analysis and Forecast by Market Taxonomy, 2017 to 2032
17.11.2.1. By Product Type
17.11.2.2. By Application
17.11.2.3. By Technology
17.12. China Market Analysis
17.12.1. Value Proportion Analysis by Market Taxonomy
17.12.2. Value & Analysis and Forecast by Market Taxonomy, 2017 to 2032
17.12.2.1. By Product Type
17.12.2.2. By Application
17.12.2.3. By Technology
17.13. Japan Market Analysis
17.13.1. Value Proportion Analysis by Market Taxonomy
17.13.2. Value & Analysis and Forecast by Market Taxonomy, 2017 to 2032
17.13.2.1. By Product Type
17.13.2.2. By Application
17.13.2.3. By Technology
17.14. South Korea Market Analysis
17.14.1. Value Proportion Analysis by Market Taxonomy
17.14.2. Value & Analysis and Forecast by Market Taxonomy, 2017 to 2032
17.14.2.1. By Product Type
17.14.2.2. By Application
17.14.2.3. By Technology
17.15. GCC Countries Market Analysis
17.15.1. Value Proportion Analysis by Market Taxonomy
17.15.2. Value & Analysis and Forecast by Market Taxonomy, 2017 to 2032
17.15.2.1. By Product Type
17.15.2.2. By Application
17.15.2.3. By Technology
17.16. South Africa Market Analysis
17.16.1. Value Proportion Analysis by Market Taxonomy
17.16.2. Value & Analysis and Forecast by Market Taxonomy, 2017 to 2032
17.16.2.1. By Product Type
17.16.2.2. By Application
17.16.2.3. By Technology
17.17. Turkey Market Analysis
17.17.1. Value Proportion Analysis by Market Taxonomy
17.17.2. Value & Analysis and Forecast by Market Taxonomy, 2017 to 2032
17.17.2.1. By Product Type
17.17.2.2. By Application
17.17.2.3. By Technology
17.17.3. Competition Landscape and Player Concentration in the Country
18. Market Structure Analysis
18.1. Market Analysis by Tier of Companies
18.2. Market Concentration
18.3. Market Share Analysis of Top Players
18.4. Market Presence Analysis
18.4.1. By Regional footprint of Players
18.4.2. Product footprint by Players
19. Competition Analysis
19.1. Competition Dashboard
19.2. Competition Benchmarking
19.3. Competition Deep Dive
19.3.1. HILL-ROM HOLDINGS
19.3.1.1. Overview
19.3.1.2. Product Portfolio
19.3.1.3. Sales Footprint
19.3.1.4. Strategy Overview
19.3.2. STRYKER
19.3.2.1. Overview
19.3.2.2. Product Portfolio
19.3.2.3. Sales Footprint
19.3.2.4. Strategy Overview
19.3.3. MAC MEDICAL
19.3.3.1. Overview
19.3.3.2. Product Portfolio
19.3.3.3. Sales Footprint
19.3.3.4. Strategy Overview
19.3.4. TRANSMOTION MEDICAL INC.
19.3.4.1. Overview
19.3.4.2. Product Portfolio
19.3.4.3. Sales Footprint
19.3.4.4. Strategy Overview
19.3.5. FU SHUN HSING TECHNOLOGY
19.3.5.1. Overview
19.3.5.2. Product Portfolio
19.3.5.3. Sales Footprint
19.3.5.4. Strategy Overview
19.3.6. NARANG MEDICAL LIMITED
19.3.6.1. Overview
19.3.6.2. Product Portfolio
19.3.6.3. Sales Footprint
19.3.6.4. Strategy Overview
19.3.7. ROYAX
19.3.7.1. Overview
19.3.7.2. Product Portfolio
19.3.7.3. Sales Footprint
19.3.7.4. Strategy Overview
19.3.8. ADVANCED INSTRUMENTATIONS
19.3.8.1. Overview
19.3.8.2. Product Portfolio
19.3.8.3. Sales Footprint
19.3.8.4. Strategy Overview
20. Assumptions and Acronyms Used
21. Research Methodology
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Hospital Stretchers Market
