Hospital Stretchers Market is expected to reach valuation of US$ 4.8 Billion by 2032

The Global Hospital Stretchers Market was valued at US$ 2.6 Billion in 2021 and is expected to reach US$ 4.8 Billion by 2032, finds Future Market Insights (FMI) in a recent market survey.

As per the findings of the report, hospitals will remain pivotal for the market as the bulk of revenue will be generated through this category, with a forecasted CAGR of 18.4%. The market in the U.S. is projected to account for over 30% of the global revenue, throughout the analysis period.

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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, CVDs take 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.

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Competitive Landscape

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:

In October 2020, Stryker released the ProCuity Wireless Bed, which is intended to help hospitals reduce costs, reduce the number of patients' falls, and improve nurses' workflow.
In September 2021, an Indian teen invented a stretcher with shock absorbers. Unlike its conventional counterparts, this stretcher is designed in such a way that the patient's gravity point is managed using the patient's own weight. During movement on ramps, slopes, or uneven surfaces, this is balanced on the central wheels.
In December 2021, the Neonatal Stretcher System from Technimount won the EMS World Innovation Award 2021. The Neonatal Stretcher System which consists of a support stretcher structure and adapted mounts that allow the attachment of multiple medical devices, provides safety and autonomy to neonatal transport teams.

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Market Segments Covered in Hospital Stretchers Industry Analysis

By Product Type:

Adjustable Height
Fixed Height
Bariatric
Radiographic

By Technology:

Motorized
Non-Motorized

By Application:

Ambulatory/Transport
Day-care/Inpatient
Surgery
Emergency/Trauma

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By Region:

North America
Latin America
Europe
APAC
MEA

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.