The hospital stretchers market is expected to register a CAGR of 5.8% over the forecast period.
The COVID-19 pandemic impacted the global healthcare system and also had an impact on the hospital stretcher market. For instance, an article published in the journal, Am. J. Emerg. Med., in June 2021, reported that the increase in patient influx during the COVID-19 pandemic in the hospitals led to increased demand for hospital stretchers. Thus, initially, the market witnessed significant growth due to the rising number of COVID-19 cases, which increased patient volume in hospitals. However, as COVID claims declined, the importance of patients in hospitals got reduced, leading to a subsidized demand for hospital stretchers. However, the market is currently regaining its growth pace owing to the increasing burden of diseases and accidents. This market is expected to project stable growth over the next 3-4 years.
The factors driving the growth of the studied market are the increasing prevalence of chronic diseases, the rising geriatric population, and the increasing demand for technologically advanced stretchers.
The increase in the prevalence of chronic diseases globally is leading to an increase in patient volume in hospitals, significantly increasing the demand for hospital stretchers. For instance, an article published in the journal Scientific Reports in April 2022 reported that patients with multiple chronic diseases such as CVD, cancer, chronic respiratory disease, and CKD need to visit hospitals frequently and, in some instances, need to be admitted to the hospitals. This increase in patients admitted to hospitals demands an increase in hospital stretchers, thereby driving the demand for the studied market.
Moreover, the rising incidence of road accidents also increases the demand for hospital stretchers. For instance, in August 2022, National Safety Council reported a 16.9% year-on increase in road accidents in the US in 2021. Thus, increasing road accidents are increasing the demand for hospital stretchers, as hospital stretchers play a significant role in carrying a patient during the time of injury and thus driving the growth of the studied market.
Similarly, the rising geriatric population is driving the demand for the studied market. For instance, an article published by the University of California Davis in October 2022 reported that older patients are admitted more to hospitals than younger patients. Most frequently, they are commonly administered to the emergency department with more extended hospital stays and are likely more dependent on hospital resources during their stay. Thus, an increase in the geriatric population and their extended stay in hospitals is driving the demand for hospital stretchers, propelling the growth of the studied market.
Furthermore, government initiatives and the increasing funds for the production of hospital stretcher is also contributing to the growth of the studied market. For instance, in February 2022, Caritas Medical Centre in Hong Kong reported that the government in the country increased the funds to produce hospital stretchers and install the stretchers outside the hospitals to accommodate the rising population with COVID-19 infections. Thus, such initiatives are driving the growth of the studied market.
Thus, the market is expected to witness healthy growth over the forecast period due to the increasing prevalence of chronic diseases, the rising geriatric population, and the increasing demand for technologically advanced stretchers. However, the high cost of specialized stretchers and the growing adoption of home healthcare may slow down the development of the studied market.
Bariatric stretchers are primarily for the transportation of obese patients, and the increasing prevalence of obesity and chronic diseases leading to hospitalization is increasing the demand for bariatric stretchers. For instance, in March 2022, the National Child Measurement Programme (NCMP) found that 14.4% of reception-age children in England (age 4-5) were obese, with a further 13.3% of children overweight in the year 2021. Being overweight or obese is associated with an increased risk of several common diseases, including CVDs and other chronic diseases, which may lead to increased hospitalization and may lead to increased demand for a bariatric stretcher, thereby driving the need for this segment.
Similarly, an article published by the journal Sci. Rep., in October 2022, reported that the study conducted on 31,464 older adults in India with a mean age of 69.2 years found a high prevalence of obesity among old age individuals than young individuals. The article also quoted that the majority of obesity/overweight was higher among older women than older men (23.2% vs. 15.5%). Thus, increasing obesity reported among the senior population may lead to an increase in bariatric surgery procedures, leading to a rise in demand for bariatric stretchers, thereby driving the growth of this segment.
Moreover, technological advancements and new product launches are also expected to drive the growth of this segment. For instance, in December 2021, Mahindra Jayo introduced extra safety and a smooth-drive mobile medical unit (MMU) that incorporated an innovative design with enough room for patients and attendants, providing comfort for all; it also consists of a scoop stretcher and emergency medical kit. This was also for bariatric patients who have undergone surgery and provided them with proper stretcher support. Thus, such technological advancement is driving the growth of the segment.
Thus, due to rising cases of obesity, technological advancements, and comfort associated with bariatric stretchers, the segment is expected to witness significant growth over the forecast period.
The rising cases of chronic diseases in North American countries are driving the growth of the studied market. For instance, in October 2022, Health Canada Statistics reported that The population of seniors is projected to increase and reach close to one-fourth of the overall population by 2040 and about two-thirds (65.5%) of seniors were living with diagnosed hypertension, over half (52.0%) of those aged 65-79 had moderate-to-severe periodontal disease and over one-third (37.9%) of those aged more than 65 were living with diagnosed osteoarthritis. Thus, the rising ageing and the increasing prevalence of chronic diseases are associated with the increase in hospital admission which is increasing the demand for hospital stretchers, thereby driving the growth of the studied market in the region.
Similarly, an article published in the journal, Cancers (Basel). in July 2022, reported the high prevalence of cancer in Mexico. Thus, the increasing cases of cancer are leading to increasing hospital stays, which is driving the demand for hospital stretchers, thereby the demand of the studied market in the region.
Furthermore, mergers, acquisitions, and partnerships among the key market players are also driving the growth of the studied market in the region. For instance, in August 2022, US Med-Equip, acquired Freedom Medical to meet the growing equipment and service needs of hospitals and other healthcare partners throughout the country. The US Med-Equip, company partners with top hospitals across the nation to provide rented medical equipment, hospital beds, and stretchers for patients in their care. Thus, such developments are leading to increasing installations of hospital equipment, like hospital stretchers, and thus driving the growth of the studied market in the region.
Thus, due to the growing number of obese people, high investments in the hospital infrastructure, and increasing prevalence of chronic disease, the market is expected to witness considerable growth in the forecast period.
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The COVID-19 pandemic impacted the global healthcare system and also had an impact on the hospital stretcher market. For instance, an article published in the journal, Am. J. Emerg. Med., in June 2021, reported that the increase in patient influx during the COVID-19 pandemic in the hospitals led to increased demand for hospital stretchers. Thus, initially, the market witnessed significant growth due to the rising number of COVID-19 cases, which increased patient volume in hospitals. However, as COVID claims declined, the importance of patients in hospitals got reduced, leading to a subsidized demand for hospital stretchers. However, the market is currently regaining its growth pace owing to the increasing burden of diseases and accidents. This market is expected to project stable growth over the next 3-4 years.
The factors driving the growth of the studied market are the increasing prevalence of chronic diseases, the rising geriatric population, and the increasing demand for technologically advanced stretchers.
The increase in the prevalence of chronic diseases globally is leading to an increase in patient volume in hospitals, significantly increasing the demand for hospital stretchers. For instance, an article published in the journal Scientific Reports in April 2022 reported that patients with multiple chronic diseases such as CVD, cancer, chronic respiratory disease, and CKD need to visit hospitals frequently and, in some instances, need to be admitted to the hospitals. This increase in patients admitted to hospitals demands an increase in hospital stretchers, thereby driving the demand for the studied market.
Moreover, the rising incidence of road accidents also increases the demand for hospital stretchers. For instance, in August 2022, National Safety Council reported a 16.9% year-on increase in road accidents in the US in 2021. Thus, increasing road accidents are increasing the demand for hospital stretchers, as hospital stretchers play a significant role in carrying a patient during the time of injury and thus driving the growth of the studied market.
Similarly, the rising geriatric population is driving the demand for the studied market. For instance, an article published by the University of California Davis in October 2022 reported that older patients are admitted more to hospitals than younger patients. Most frequently, they are commonly administered to the emergency department with more extended hospital stays and are likely more dependent on hospital resources during their stay. Thus, an increase in the geriatric population and their extended stay in hospitals is driving the demand for hospital stretchers, propelling the growth of the studied market.
Furthermore, government initiatives and the increasing funds for the production of hospital stretcher is also contributing to the growth of the studied market. For instance, in February 2022, Caritas Medical Centre in Hong Kong reported that the government in the country increased the funds to produce hospital stretchers and install the stretchers outside the hospitals to accommodate the rising population with COVID-19 infections. Thus, such initiatives are driving the growth of the studied market.
Thus, the market is expected to witness healthy growth over the forecast period due to the increasing prevalence of chronic diseases, the rising geriatric population, and the increasing demand for technologically advanced stretchers. However, the high cost of specialized stretchers and the growing adoption of home healthcare may slow down the development of the studied market.
Hospital Stretchers Market Trends
Bariatric Stretchers is Expected to Witness Significant Growth Over the Forecast Period.
Bariatric stretchers are expected to witness significant growth over the forecast period owing to their design that can transport patients in difficult areas. Moreover, these stretchers have wider frames, oversized wheels, winch attachments, and pull and push handles for safe transportation.Bariatric stretchers are primarily for the transportation of obese patients, and the increasing prevalence of obesity and chronic diseases leading to hospitalization is increasing the demand for bariatric stretchers. For instance, in March 2022, the National Child Measurement Programme (NCMP) found that 14.4% of reception-age children in England (age 4-5) were obese, with a further 13.3% of children overweight in the year 2021. Being overweight or obese is associated with an increased risk of several common diseases, including CVDs and other chronic diseases, which may lead to increased hospitalization and may lead to increased demand for a bariatric stretcher, thereby driving the need for this segment.
Similarly, an article published by the journal Sci. Rep., in October 2022, reported that the study conducted on 31,464 older adults in India with a mean age of 69.2 years found a high prevalence of obesity among old age individuals than young individuals. The article also quoted that the majority of obesity/overweight was higher among older women than older men (23.2% vs. 15.5%). Thus, increasing obesity reported among the senior population may lead to an increase in bariatric surgery procedures, leading to a rise in demand for bariatric stretchers, thereby driving the growth of this segment.
Moreover, technological advancements and new product launches are also expected to drive the growth of this segment. For instance, in December 2021, Mahindra Jayo introduced extra safety and a smooth-drive mobile medical unit (MMU) that incorporated an innovative design with enough room for patients and attendants, providing comfort for all; it also consists of a scoop stretcher and emergency medical kit. This was also for bariatric patients who have undergone surgery and provided them with proper stretcher support. Thus, such technological advancement is driving the growth of the segment.
Thus, due to rising cases of obesity, technological advancements, and comfort associated with bariatric stretchers, the segment is expected to witness significant growth over the forecast period.
North America is Expected to Witness a Significant Growth Over the Forecast Period.
North American region is anticipated to have a significant market share owing to well-established healthcare infrastructure, a growing number of obese people, and high investments in hospital infrastructure. Also, the increasing prevalence of chronic disease, and favourable healthcare policies in the region are fueling the growth of the studied market in the region.The rising cases of chronic diseases in North American countries are driving the growth of the studied market. For instance, in October 2022, Health Canada Statistics reported that The population of seniors is projected to increase and reach close to one-fourth of the overall population by 2040 and about two-thirds (65.5%) of seniors were living with diagnosed hypertension, over half (52.0%) of those aged 65-79 had moderate-to-severe periodontal disease and over one-third (37.9%) of those aged more than 65 were living with diagnosed osteoarthritis. Thus, the rising ageing and the increasing prevalence of chronic diseases are associated with the increase in hospital admission which is increasing the demand for hospital stretchers, thereby driving the growth of the studied market in the region.
Similarly, an article published in the journal, Cancers (Basel). in July 2022, reported the high prevalence of cancer in Mexico. Thus, the increasing cases of cancer are leading to increasing hospital stays, which is driving the demand for hospital stretchers, thereby the demand of the studied market in the region.
Furthermore, mergers, acquisitions, and partnerships among the key market players are also driving the growth of the studied market in the region. For instance, in August 2022, US Med-Equip, acquired Freedom Medical to meet the growing equipment and service needs of hospitals and other healthcare partners throughout the country. The US Med-Equip, company partners with top hospitals across the nation to provide rented medical equipment, hospital beds, and stretchers for patients in their care. Thus, such developments are leading to increasing installations of hospital equipment, like hospital stretchers, and thus driving the growth of the studied market in the region.
Thus, due to the growing number of obese people, high investments in the hospital infrastructure, and increasing prevalence of chronic disease, the market is expected to witness considerable growth in the forecast period.
Hospital Stretchers Market Competitor Analysis
The hospital stretcher market is moderately fragmented and competitive, with a few local and international players. Market players focus on product innovations, new product launches, and regional expansions to increase their market share. The key market players operating in the market include Stryker Corporation, Baxter International Inc. (Hill Rom Holdings Inc.), Carl Bennet AB (Arjohuntleigh AB), Invacare Corporation, and Medline Industries Inc.Additional benefits of purchasing the report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION (Market Size by Value - USD million)
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Stryker Corporation
- Baxter International Inc. (Hill Rom Holdings Inc.)
- Carl Bennet AB (Arjohuntleigh AB)
- Invacare Corporation
- Medline Industries Inc.
- Paramount Bed Holdings Co., Ltd.
- Stiegelmeyer GmbH & Co. KG
- LINET Group SE
- Joerns Healthcare LLC
- Mac Medical Inc.
- TransMotion Medical Inc.
- Narang Medical Limited
- ROYAX, s.r.o.
Methodology
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