Market Trends of Ambulance Stretchers Industry
This section covers the major market trends shaping the Ambulance Stretchers Market according to our research experts:
Transport Stretchers are Expected to Occupy Significant Share of Market over the Forecast Period
Due to the COVID-19 pandemic, all elective procedures were postponed, with services prioritizing COVID-19 patients. The rising number of COVID-19 patients resulted in a state of emergency requiring the immediate transfer of patients to hospitals. The rising demand for ambulance services to offer emergency care to patients may have a minimal impact on the ambulance stretcher market.
Transport stretchers are the most frequently used ambulance stretchers. Aging is an important factor in the development of cardiovascular and metabolic diseases. Due to this, the elderly population is more likely to develop recurring ailments. Therefore, increasing chronic conditions, such as ischemic heart disease, stroke, chronic obstructive pulmonary disease, and chronic kidney disease, in geriatric patients may require more care. According to the GLOBOCAN report, the total number of people in the world affected by cancer is estimated to reach 28,887,940 cases by 2040. The rising number of people affected by chronic diseases who require immediate transport for hospital admissions is expected to add to the segment's growth.
Moreover, there has been the introduction of new transport ambulances to increase accessibility. In February 2021, Ford launched transit ambulances for the United Kingdom under Project Siren. Such activities are expected to add to the transport stretchers market segment.
So, the growing number of older people with more chronic conditions and the rise in the number of ambulance services are likely to increase the demand for emergency ambulance services, which will lead to a larger market share over the next few years.
North America is Expected to Hold the Significant Share in the Ambulance Stretchers Market
There was a rise in the demand for ambulance stretchers in the North American region during the COVID-19 pandemic. The healthcare services had to be directed toward COVID-19 patient management and treatment development. Guiding committees and regulatory bodies provided guidelines to be followed by patients and physicians. Elective procedures were postponed, and only emergency procedures got high priority. Recovery of these backlog procedures may take place gradually, considering the pandemic and resurgence of the disease.
North America is expected to witness notable growth in the ambulance stretchers market over the forecast period, due to the rise in the geriatric population and increasing health expenditure. The Center for Disease Control and Prevention, in its data published in September 2022 on older adults' health in the United States, estimated a rise in the population of adults 65 and older to 80.8 million by 2040 and 94.7 million in 2060, representing nearly 25% of the overall population.
Moreover, the rise in the number of people affected by chronic diseases is likely to boost market growth. For instance, as per the report published in May 2021 by the Canadian Primary Care Sentinel Surveillance Network, around 65% of the adults in Canada were living with at least one chronic disease condition, and over 37% of the adults had two or more chronic conditions. The higher prevalence of chronic diseases in the country will drive the demand for ambulance stretchers. In addition, favorable reimbursement policies in the United States and Canada covering emergency and non-emergency ambulance services are likely to contribute to the ambulance stretcher market.
