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Hospital Stretchers Market Growth and Forecast Report 2024
Hospital Stretchers Market Growth
According to The Business Research Company's, The hospital stretchers market size has grown strongly in recent years. It will grow from $2.76 billion in 2023 to $2.93 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to evolution of design and ergonomics, rise in healthcare facilities, increasing patient volume, specialized medical needs, safety and infection control.
The hospital stretchers market size is expected to see strong growth in the next few years. It will grow to $3.75 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to global health emergencies influence, innovation in material science, demand for emergency care solutions, regulatory standards evolution, customization and specialization. Major trends in the forecast period include education and training emphasis, telehealth integration, modularity and adaptability, sustainability and eco-friendly materials, ergonomic and maneuverability enhancements.
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Market Drivers and Trends:
The rising number of accidents is expected to propel the growth of the hospital stretchers market going forward. Accidents refer to undesirable or unfortunate event that occurs unintentionally and usually results in harm, injury, damage, loss, casualty, or mishap. The rising number of casualties is one of the driving factors for the growth of the hospital stretcher market, as it is an essential aspect of patient care. A stretcher is used to transport people from one location to another. For instance, in January 2023, according to a report published by the National Highway Traffic Safety Administration, a US-based government agency, in the first nine months of 2022, 31,785 persons lost their lives in car accidents. According to the estimates, fatalities rose in 25 states during the first three quarters of 2022. Deaths rose 12% on rural interstates, 10% in collisions involving at least one large vehicle, and 8% among bikers, and other places, compared to the first half of 2021. Therefore, the rising number of accidents is driving the growth of the hospital stretcher market.
Major companies operating in the hospital stretcher market are developing innovative products such as transportation stretchers to meet larger customer bases, more sales, and increase revenue. A transportation stretcher is a medical device designed for the secure and comfortable conveyance of patients from one location to another within a healthcare facility or during medical transport. For instance, in May 2022, L I N E T spol. s r.o., a Czech Republic-based manufacturer of hospital and nursing beds, launched the Sprint 200 emergency stretcher. Sprint 200 embodies a distinctive mission aimed at substantially minimizing musculoskeletal disorders (MSDs) among caregivers on a global scale while simultaneously enhancing patient flow efficiency and optimizing overall care costs. The standout features of Sprint 200 are encapsulated in three strategic key value statements. First, the stretcher boasts an ergonomic drive that goes the distance, prioritizing caregiver well-being by ensuring unparalleled manoeuvrability and efficiency. Second, its Safety, Proven in a Million Care Beds, Brought to a Stretcher, emphasizes a track record of safety derived from extensive experience with a million care beds, instilling reliability and security in patient transport. Lastly, Sprint 200 introduces leading-edge design and materials, showcasing an avant-garde design coupled with advanced materials, reinforcing its commitment to innovation and delivering a high-performance, durable stretcher solution.
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Major Key Players of the Market:
Stryker Corporation; TransMotion Medical Inc.; Advanced Instrumentations Inc.; Mac Medical Inc.; Narang Medical Limited; ROYAX s.r.o.; Anetic Aid Ltd.; LINET Group SE; Fu Shun Hsing Technology Co. Ltd.; Venture Medical Technologies Inc.; Zhangjiagang Xiehe Medical Instrument Co. Ltd.; Advin Healthcare Pty. Ltd.; Narayan Enterprises Private Limited; Joson Care Enterprise Co. Ltd.; Desco Medical Limited; Medline Industries Inc.; Invacare Corporation; Baxter International Inc.; Carl Bennet AB; Paramount Bed Holdings Co. Ltd.; Stiegelmeyer GmbH & Co. KG; Joerns Healthcare LLC; Spencer S.p.A.; Midmark Corporation; Howard Wright Limited; Getinge AB; FUJIFILM Holdings Corporation; Gendron Inc.; GF Health Products Inc.; Hill-Rom Holdings, Inc.; Ferno-Washington, Inc.; Givas Srl; Hidemar S.r.l.; HOSPIMETAL S.A.; Haelvoet NV; Famed Zywiec Sp. z o.o.
Hospital Stretchers Market 2024 Key Insights:
• The hospital stretchers market will grow to $3.75 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.
• Surge In Accidents Fuels Demand For Hospital Stretchers
• Innovative Advancements In The Hospital Stretcher Market
• North America was the largest region in the hospital stretchers market in 2023
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