Hospital Stretchers Market Size

Hospital Stretchers Market Analysis

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.