Market Size of Hospital Stretchers Industry
Study Period | 2021 - 2029 |
Market Size (2024) | USD 2.92 Billion |
Market Size (2029) | USD 3.9 Billion |
CAGR (2024 - 2029) | 5.92 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Hospital Stretchers Market Analysis
The Hospital Stretchers Market size is estimated at USD 2.92 billion in 2024, and is expected to reach USD 3.9 billion by 2029, growing at a CAGR of 5.92% during the forecast period (2024-2029).
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 Industry Segmentation
As per the scope of the report, hospital stretchers are patient transport equipment used to transport patients within hospitals. Due to technological advancements, hospital stretchers are also used as hospital beds, examination desks, and surgical platforms. The Hospital Stretcher Market is Segmented by Product Type (Fixed Hight Stretchers, Adjustable Stretchers, Bariatric Stretchers, and Other Product Types), Technology (Motorized Stretchers, Non-Motorized Stretchers), Application (Intra-Hospital, Pediatric Care, Emergency Department, Radiology Department, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
By Product Type | |
Fixed Height Stretchers | |
Adjustable Stretchers | |
Bariatric Stretchers | |
Other Product Type |
By Technology | |
Motorized Stretchers | |
Non-Motorized Stretchers |
By Application | |
Intra-Hospital | |
Pediatric Care | |
Emergency Department | |
Radiology Department | |
Other Applications |
Geography | ||||||||
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Hospital Stretchers Market Size Summary
The hospital stretchers market is poised for stable growth, driven by the increasing prevalence of chronic diseases, a rising geriatric population, and the demand for technologically advanced stretchers. The market experienced an initial surge during the COVID-19 pandemic due to heightened patient influx, but demand has since stabilized as the pandemic's impact waned. However, the ongoing burden of diseases and accidents continues to propel market expansion. Factors such as the rising incidence of road accidents and government initiatives to enhance hospital infrastructure further contribute to market growth. Despite challenges like the high cost of specialized stretchers and the shift towards home healthcare, the market is expected to maintain a healthy growth trajectory over the forecast period.
The bariatric stretchers segment is anticipated to witness significant growth, fueled by the increasing prevalence of obesity and chronic diseases necessitating hospitalization. Technological advancements and new product launches, such as those by Mahindra Jayo, are enhancing the functionality and comfort of bariatric stretchers, driving demand. The North American region is expected to hold a substantial market share due to its well-established healthcare infrastructure, high obesity rates, and favorable healthcare policies. Mergers and acquisitions among key players, such as US Med-Equip's acquisition of Freedom Medical, are also contributing to market growth by increasing the availability of hospital equipment. The market remains moderately fragmented, with major players focusing on innovation and regional expansion to strengthen their market presence.
Hospital Stretchers Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevalence of Chronic Diseases
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1.2.2 Rising Geriatric Population
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1.2.3 Increasing Demand For Technologically Advanced Stretchers
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1.3 Market Restraints
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1.3.1 High Cost of Specialized Stretchers
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1.3.2 Growing Adoption of Home Healthcare
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product Type
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2.1.1 Fixed Height Stretchers
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2.1.2 Adjustable Stretchers
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2.1.3 Bariatric Stretchers
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2.1.4 Other Product Type
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2.2 By Technology
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2.2.1 Motorized Stretchers
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2.2.2 Non-Motorized Stretchers
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2.3 By Application
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2.3.1 Intra-Hospital
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2.3.2 Pediatric Care
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2.3.3 Emergency Department
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2.3.4 Radiology Department
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2.3.5 Other Applications
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Hospital Stretchers Market Size FAQs
How big is the Hospital Stretchers Market?
The Hospital Stretchers Market size is expected to reach USD 2.92 billion in 2024 and grow at a CAGR of 5.92% to reach USD 3.9 billion by 2029.
What is the current Hospital Stretchers Market size?
In 2024, the Hospital Stretchers Market size is expected to reach USD 2.92 billion.