Hospital Stretchers Market Opportunity Analysis, 2018-2026

Hospital stretcher is an apparatus used for moving patients who require medical care. Hospital stretcher have evolved in healthcare industry as a multipurpose device. These are still transforming to provide better comfort to patients and convenience and ease for caregivers. They are primarily used in acute hospital care situations such as in emergency, military, general medical services, and rescue services during accidents, also other than patient transportation, hospital stretchers are used as hospital bed, surgical platform and for inspection or examination desk. Most hospital stretchers are simple, lightweight, made of metal or other synthetic materials.

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Hospital stretcher has a well-established market worldwide, as hospital stretcher is a basic necessity for any healthcare facilities. Increase in number of ambulance facilities is expected to support the market for hospital stretchers. Large hospital facilities need intra-hospital transport for patients, in turn creating a highly conducive environment for the hospital stretcher market, on the backdrop of burgeoning growth of the healthcare sector. Furthermore, motorized stretchers and hydraulic stretchers are also designed to reduce patient fall during transportation. However, the healthcare service providers face challenge in transporting bariatric patient so hospital stretcher is anticipated to grow rapidly due to rise in obese population.

Rising number of bariatric patient expected to fuel the growth of hospital stretchers market in the near future:

Bariatric stretchers have been assumed as the fastest growing segment, due to increase in obese population. According to Centre for Diseases Control and Prevention (CDC), 34.9% of the population was obese and annual medical cost of obesity treatment was around US$ 147 billion in 2008. Worldwide bariatric procedures performed in 2013 was pegged at 468,609. Additionally, 40% of U.S. population was categorized as obese in 2015 as per an article published by Johns Hopkins Bloomberg School of Public Health. This inadvertently creates a highly conducive environment for growth of the bariatric hospital stretchers.

Furthermore, driving factors for hospital market as increase in number of road accidents, also increase in number of ambulance facilities according to WHO, around 1.25 million people die each year as a result of road traffic crashes. Additionally rising aged population is also expected to fuel the growth of hospital stretchers market in the near future, as aging population is associated to increases in hospitalization to 1.03 million in Hong Kong in 2012, according to International Journal of Health Policy and Management.

Regional growth engines of hospital stretchers market

Evolution of medical tourism industry in countries such as India, Thailand, and Singapore create boosted the hospital stretcher market. Similarly increase in number of road accident in Asia Pacific region which is approximately 316,000 people each year according to W.H.O in South-East Asia in 2016.

Whereas North America is also fueling the growth of hospital stretchers market due to increase in number of surgeries as 70.7% of adults age 20 years and over with overweight, including obesity in U.S in 2013-2014. Europe is also boosting the market of hospital stretchers due to its increased aged population, according to W.H.O. the number of people aged 85 years and older are projected to rise to 19 million by 2020 and to 40 million by 2050.

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Key players operating in hospital stretchers market

To provide effective healthcare services and to capitalize on lucrative growth opportunities in the market, manufacturers are collaborating with each other to develop and promote communication solutions to support clinical and nursing efficiencies for leading hospitals. For example, Premise Corporation and Stryker Medical Announced Strategic Alliance in Collaboration with Microsoft to Release Next Generation Patient Safety Solution such as bed and stretchers for the comfort and security of patients. The market is characterized by the presence of a large number of regional players, making it a highly fragments market. Key players in the global hospital stretchers market include TransMotion Medical Inc., Gendron Inc., Hill-Rom Holdings Inc., GF Health Products Ltd., TransMotion Medical, ArjoHuntleigh Inc., Stryker Corporation, Fu Shun Hsing Technology Co. Ltd., Mac Medical, Inc. Spencer Italia S.r.l. and Anetic Aid Limited.

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